Tech in Asia’s Post

Expanding to Indonesia is always tricky! In this weeks episode of Startup's Simplified, we have Ashok Hariharan CEO & Co-Founder of IDfy. IDfy offers AI and biometrics-driven products for onboarding users, merchants, businesses, and gig workers. By validating identities and mitigating potential risks, IDfy ensures secure onboarding processes. Having achieved success in India, the Middle East, and the Philippines, IDfy is currently expanding in Indonesia 🇮🇩 Ashok was very candid in sharing his thoughts about: Starting up IDFY & How COVID accelerated growth 💰 South East Asia, India & UPI 🚀 Launching Indonesia 😢 When the chips are down! What does culture really mean?

With the #asean Australia summit underway in Melbourne this week, CTO Labs Tom Xu reflects on investment opportunity in Southeast Asia and the challenges of understanding tech investment value in this context. He offers some armchair observations on some of the likely technical considerations within a couple of recent deals: 🖊 ByteDance (TikTok) acquisition of 75% of Tokopedia 🖊 Thunes cross border capital raise that included USD 72 million from a variety of investors Singapore, US and UK. Read on if you are interested in understanding more about the technology diligence, and the sorts of tech considerations that would be quantified as part of the process. In this case, it would typically include a deep understanding of the risk profile in a custom tech platform, and complex layering of regulatory compliance settings. We'll include a link to the article in the comments. #ctolabs #wemakecomplextechclear #investment #technology #duediligence

Treasure Global Inc. (NASDAQ: TGL) Inc. has reported its financial results for the fourth quarter and fiscal year 2023, achieving significant milestones in user growth with over 2.6 million registered users for its flagship product, ZCITY. The company reported a 9.9% year-over-year increase in gross profit for fiscal 2023, along with an impressive 280% increase in active user retention and a 41% rise in paid users transacting more frequently. With a focus on strategic partnerships and innovations, Treasure Global is expanding its reach in Malaysia and diversifying into sectors like travel, health & wellness, and events ticketing. They are also eyeing the Indonesian market and have signed agreements with popular F&B brands. The company aims to capitalize on Southeast Asia's economic growth in fiscal 2024 by enhancing user engagement and introducing new products and services. https://lnkd.in/gQKdnNev #treasureglobal #Q4 #2023 #malaysia #zcity Sam Teo

Ride-hailing has weak network effects. Just look at China too, where multiple upstarts are chipping away at Didi in different locations. This is because ride-hailing's network effects are asymptotic.

check this tiny peak of our capstone project 🤩‼️ #LifeAtBangkit #BangkitElevatorPitch #Inovation #DuitDojoTeam

Singapore Regulators Block Grab's Expansion Plans, Hindering Growth Potential. #GrabObstacles 🤝 Follow us on Discord 🔜: https://lnkd.in/gt823Zd3 _ ❇️ Summary: Singapore's competition watchdog, the Competition and Consumer Commission of Singapore (CCCS), has expressed concerns about ride-hailing company Grab's plan to acquire Trans-cab, Singapore's third-largest cab company. The CCCS has received feedback suggesting that the deal could raise barriers to entry for rival ride-hailing platforms. The CCCS announced that it will examine the proposed deal in greater detail to assess its impact on competition. Grab currently controls up to 75% of Singapore's ride-hailing market. Grab has not yet commented on the CCCS announcement. Hashtags: #chatGPT #GrabRegulatoryHurdles #SingaporeExpansionRoadblock

Rebranding is no easy task. Today marks the official rebrand of our client Ramp, who have now become Kohort. More on this in the coming weeks. #branding #marketing #brandidentity #design #tech #uidesign #uxdesign #brandstrategy

Innovation is what we do! That's why we’re very proud [and humble] not only to be on the same list as companies like Netflix, Airbnb, Tesla & Norwegian Vipps and Tise, but also to be climbing up that ladder on the yearly Norwegian Innovation Index! 🚀🙏 #innovation #smarttech

Singapore-based ride-hailing platform to join the intense market in Hong Kong   Singapore-based ride-hailing platform Tada has announced its entry into the competitive market in Hong Kong by the end of this year. Hong Kong is already crowded with ride-hailing platforms such as Uber, Didi Chuxing, and Amap, and Tada aims to establish its presence in this intense market.   With the government working on a regulatory framework for the ride-hailing sector, companies are looking to seize the opportunity. Tada differentiates itself by offering zero-commission ride-hailing services. This move represents the company's expansion beyond Southeast Asia, following its earlier acquisition of a license in Thailand.   Tada recognizes the immense potential in Hong Kong, driven by its robust economy, dense population, and high demand for reliable and efficient technology solutions. The platform promises stable fares for passengers, a user-friendly app, and a higher share of pay for drivers.   Although specific details such as the investment amount and the number of vehicles operating in the city have not been disclosed, Tada's business model stands out. Unlike Uber, which shares customer fares with its drivers, Tada only charges drivers a platform fee without any commissions, according to the Singapore-based firm. 【Full Article】https://shorturl.at/MtIZn #Uber #AI #ridehailing #網約車 #叫車 #DidiChuxing #Amap 🥳Website: https://bizbuz.pro/ 🥳YouTube: https://shorturl.at/qiHEz 🥳Facebook: https://shorturl.at/L3UYd 🥳Instagram: https://shorturl.at/tpNuj 🥳LinkedIn: https://shorturl.at/TcT23

🎉 What a year for Futu and the #moomoo brand! We're thrilled to share our parent company's strong Q4 and full-year 2023 financial results: 🚀 Stellar Q4 Performance Total revenues: US$303.8 million Non-GAAP net income: US$121.7 million 📈 Impressive 2023 Growth Total revenues: US$1,281 billion Non-GAAP net income: US$585.1 million 🌍 Global Growth in Full Swing: Singapore Dominance: Maintained our #1 spot as the most downloaded, highest DAU brokerage app in Singapore* Japan Expansion: Introduced U.S. stock trading to Japanese investors 🇲🇾 Malaysia Spotlight: Moomoo's Explosive Debut Malaysian Triumph: Moomoo app takes the lead in online brokerage rankings based on downloads** Rapid Adoption: Exceeded 30,000 Malaysian clients within our first week of launch! The fastest growth seen in any new market! We owe our success to the unwavering support of our esteemed partners and valued clients. Committed to innovation and guided by our client-centric ethos, we will continue our drive to provide a seamless and empowering investment journey for all. Exciting developments are on the horizon for Malaysia. Stay tuned for updates on new offerings and features designed to elevate your investment journey! Link to full earnings report - https://lnkd.in/gCMd-kGr #moomooMY #earningseason #growth #fintech #marketleader #GlobalExpansion #investmalaysia *No 1 downloads data is determined based on cumulative downloads from launch date of brokerage apps in Singapore for comparison as of 31 Dec 2023 on data.ai. **According to data.ai's comparison of stock trading app accumulated downloads(including Apple and Google) in the Malaysia market as of 31 December, 2023.