For our monthly insights digest
Amid the turbulent global economy, the past year has truly been revolutionary for Southeast Asia’s startup technology firms. Highlighted by New York-listed Singaporean group Sea whose market capitalization exceeded USD 125 billion in the past year, others like Grab, Gojek and Traveloka have made known of their Nasdaq ambitions.
Southeast Asian economies are growing fast and consumer spending across most markets has been increasing annually. Yes, local internet firms are thriving with the region's half-dozen biggest internet tech firms worth nearly USD 200 billion alone. But, are they now starting to get in each other’s way?
Most of these startups started in niche markets. However, they have all expanded and evolved towards becoming “super-apps” that overlap each other. Also, the region’s infrastructure, transportation and communication networks will continue to be the biggest obstacles for these service providers to overcome in the hope to extend market penetration.
Finally, there is the matter of profitability. Most of these firms are still recording operating losses since they first opened for business. Will they continue to attract investors in the months and years ahead?
Read more of these tech companies’ growth and what lies ahead for them at Can South-East Asian tech’s hot streak last? | The Economist