The company’s “gross margin will remain pressured and losses will widen as it invests in growth,” Bloomberg Intelligence analysts Matthew Kanterman and Andrew Eisenson wrote in a note ahead of Sea’s earnings report.
With $4 billion raised from investors led by SoftBank, Anthony Tan has turned Grab into a ride-hailing juggernaut.
A deal will mark Uber’s exit from yet another major market.
GIC hit pay dirt with investments in Alibaba and Xiaomi.
In an interview, GIC chief executive Lim Chow Kiat and head of the company’s technology investment group, Jeremy Kranz, talk about the fund’s investment strategy.
The new fund is expected to have a first close before the end of this month and the final close by the end of 2018.
The truce would bring to an end a bruising battle for leadership in SE Asia’s ride-hailing market.
Analysts view Sea as Southeast Asia’s leading growth company with backing from Chinese colossus Tencent that should help it capitalize on the region’s adoption of games, e-commerce and digital payments. Sceptics see little evidence that Sea is developing anything resembling a business model.
Intudo Ventures, an Indonesia-focused venture capital firm, raised $20 million in its debut fund as it seeks to capitalize on rising consumption in the world’s fourth most-populous nation. The fund closed after doubling its initial target of $10 million, said Patrick Yip, a Jakarta-based founding partner of Intudo. Its strategy… Read more »
Uber is in talks with payments firms across Asia for partnerships similar to its tie-up with Vietnam’s mobile wallet MoMo.