Startup Snapshot

Last month, innovation intelligence startup PatSnap raised US$300 million from big-name backers like SoftBank Vision Fund II and Tencent Investment, which the Singapore-based firm says brings its valuation over US$1 billion.

But PatSnap’s bid to join the unicorn club wasn’t an easy one. In its early days, potential backers weren’t convinced it could make money, making it hard for the startup to raise funds. To reduce living and hiring expenses, the team moved to China. But even there, they still had to keep costs down, so they switched off the heater to save on electricity and had to huddle together during the cold winter months. 

On this episode of Deep Dive, Tech in Asia journalist Tay Tian Wen talks about PatSnap’s arduous journey, the milestones it has achieved over the years, and what the future holds for one of Singapore’s newest unicorns.

More information on today’s episode here: https://www.techinasia.com/deep-dive-patsnap-joined-unicorn-club

Featured reporter:

• Tay Tian Wen, a Tech in Asia journalist based in Singapore

Essential reading:

• How PatSnap grew to become a billion-dollar company
• Tokopedia, PatSnap among 8 fastest-growing firms by revenue in Southeast Asia
• PatSnap raises $300m in a round co-led by SoftBank, Tencent, joins the unicorn club
• They turned off the heater in winter to save money. Now they’re a leader in patent search
• For more stories on PatSnap, click here

Over the past few weeks, one company that has frequently been hitting the headlines is Singapore-headquartered Sea.

As the biggest Southeast Asian internet business, dwarfing startups and listed companies alike in valuation, every move that Sea makes has people across the tech industry perking up their ears.

On this episode of Deep Dive, Tech in Asia’s Putra Muskita, Simon Huang, and Nicole Jao dish on the latest updates from Sea.

More information on today's episode here: https://www.techinasia.com/deep-dive-seas-latest-moves 

Featured reporter:

• Putra Muskita, a Tech in Asia reporter based in Jakarta, Indonesia
• Simon Huang, a Tech in Asia industry analyst based in Singapore
• Nicole Jao, a Tech in Asia journalist based in Taiwan

Essential reading:

• Sea’s shadow looms over a Gojek-Tokopedia merger
• Is Shopee a threat to MercadoLibre’s dominance in Brazil?
• Deep dive: Why Sea’s new numbers are impressive, and a few things to watch out for
• Visualizing the sheer size of Sea Group

Episode Sponsor:

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Towards the end of 2020, a number of “buy now, pay later” (BNPL) startups started ramping up their marketing, plastering ads across malls, train stations, and even social media platforms.

What led to the rise of this new payment method? And is BNPL here to stay?

On this episode of Deep Dive, Tech in Asia journalists Melissa Goh and Putra Muskita discuss the growing popularity of BNPL, the potential risks it poses to consumers and businesses, and what it could become in the future.

More information on today's episode here: https://www.techinasia.com/deep-dive-rising-buy-pay-trend 

Featured reporter:

• Melissa Goh, a Tech in Asia journalist based in Singapore
• Putra Muskita, a Tech in Asia reporter based in Jakarta, Indonesia

Essential reading:

• Explaining the fast rise of Kredivo, Akulaku, and Oriente to the $500m club
• Why the time is ripe for ‘buy now, pay later’ in Asia
• ‘Buy now, pay later’ heats up in Singapore with Grab, Mastercard entering the scene
• Southeast Asia’s biggest buy now, pay later players
• The dark side of 'buy now, pay later'

In the last weeks of 2020, hundreds of retail investors were shocked when they discovered that Singapore-based investment platform CoAssets had disposed of over US$30 million of their investments to a virtually unknown debt recovery firm.

Numerous affected parties have filed police reports against the company and former CEO Getty Goh, but many are still asking: How did this happen?

On this episode of Deep Dive, Tech in Asia editor-in-chief Terence Lee discusses the events that led to CoAssets’ closure and the alleged mismanagement of investors’ money at the firm.

More information on today's episode here: https://www.techinasia.com/deep-dive-coassets-lost-investors-millions-dollars

Featured reporter:

• Terence Lee, editor-in-chief at Tech in Asia

Essential reading:

• The rare tech startup which listed early and became profitable
• Millions lost, police reports filed: Behind the plight of CoAssets’ hapless investors

A recent report by PricewaterhouseCoopers found that India is currently the world’s fastest-growing market for video streaming, and it’s set to become the sixth largest by 2024.

With over 40 over-the-top streaming (OTT) players in the country vying for the attention of anyone with an internet connection, how’s the industry faring?

On this episode of Deep Dive, Tech in Asia journalist Nikita Puri discusses the growth of India’s OTT scene, what the top players are doing to stay ahead of the competition, and what’s in store for the industry’s future.

More information on today's episode here: https://www.techinasia.com/deep-dive-whats-indias-ott-platforms

Featured reporter:

• Nikita Puri, a Tech in Asia reporter based in India

Essential reading:

• High-voltage drama in the world’s fastest-growing video-streaming market

Episode Sponsor:

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P.S.: Startup Snapshot season 3 is back, with all-new, original stories of entrepreneurship, struggle, and hustle in audio form! Catch the first episode here: https://techin.asia/snapshot

In recent years, Big Tech has drawn the ire of regulators across the globe. And given the current state of the world, some governments have been raising taxes on tech giants to bolster their own economies.

But as several countries in Southeast Asia begin imposing stricter regulations, will smaller tech players get caught up in the attempt to keep the titans in check?

On this episode of Deep Dive, Tech in Asia industry analyst Simon Huang explains why regulators in the region are tightening the screws, what critics and advocates are saying about the changes, and whether smaller startups have cause to worry.

More information on today's episode here: https://www.techinasia.com/southeast-asian-states-tightening-screws-tech-giants

Featured reporter:

• Simon Huang, a Tech in Asia industry analyst based in Singapore

Essential reading:

• How Southeast Asian states are tightening the screws on tech giants

Episode Sponsor:

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Cash remains supreme in Vietnam, which means that there’s plenty of opportunities for a fintech player to conquer the market and become the digital payment provider to the country’s 97 million people.

At the moment, several e-wallet operators are battling to win the hearts and wallets of Vietnam. Who will come out on top?

On this episode of Deep Dive, Tech in Asia journalist Thu Huong Le discusses the Vietnamese fintech landscape, the challenges of starting up a fintech business in the country, and the future of its e-wallet scene.

More information on today's episode here: https://www.techinasia.com/deep-dive-vietnams-brutal-e-wallet-war

Featured reporter:

• Thu Huong Le, a Tech in Asia reporter based in Vietnam

Essential reading:

• Vietnam’s e-wallet war has just begun, and it will be brutal

Episode Sponsor:

This year, the Tech in Asia Conference will explore the tech opportunities presented by Southeast Asia’s new golden age. To adjust to our new reality, we’re going virtual as we aim to bring you the most relevant insights into four areas:

• The emerging opportunities in the region’s golden age
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• How the startup world will change in 2021 and beyond
• How to accelerate your business toward recovery

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Tucked away between Myanmar and Nepal, and lying along the eastern border of India, is the little-known country of Bangladesh. Due to an unfortunate string of natural disasters, acts of extremism, and negative press coverage some 30 to 40 years ago, most people might think that the country is a place with widespread poverty and poor infrastructure.

In reality, Bangladesh has the makings of a startup haven. But despite its strong economic fundamentals, the country seems to have been snubbed by regional investors who only have eyes for India and Southeast Asia.

On this episode of Deep Dive, Tech in Asia journalist Melissa Goh discusses why Bangladesh has been left out of Asia's growth story and how the country might be able to catch up with the rest of the region.

More information on today’s episode here: https://www.techinasia.com/deep-dive-bangladesh-left-asias-growth-story

Featured reporter:

• Melissa Goh, a Tech in Asia journalist based in Singapore

Essential reading:

• Could Bangladesh be the next Indonesia?

Episode Sponsor:

This year, the Tech in Asia Conference will explore the tech opportunities presented by Southeast Asia’s new golden age. To adjust to our new reality, we’re going virtual as we aim to bring you the most relevant insights into four areas:

• What are the emerging opportunities in the region’s golden age
• Which verticals, companies, and business models are driving innovation in Asia’s tech scene
• How the startup world will change in 2021 and beyond
• How to accelerate your business toward recovery

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According to analysts, the cannabis industry in Asia alone could be worth US$12.5 billion in 2024. 

While this estimate has spawned a number of startups hungry for a share of the potential pie, does it mean the region is in for a “green gold rush”? That depends on several factors, including whether a lot more countries will follow Thailand’s lead in legalizing cannabis, even if just for medical use.

On this month’s Deep Dive, Tech in Asia’s Joseph Gan discusses the Asian cannabis tech industry’s latent potential and whether it’s worth betting on.

More information on today's episode here: https://www.techinasia.com/deep-dive-high-hopes-cannabis-tech-industry

Featured reporter:

• Joseph Gan, a Tech in Asia reporter based in Singapore

Essential reading:

• Tackling a taboo: Cannabis tech on the rise in Asia

Episode Sponsor:

This year, the Tech in Asia Conference will explore the tech opportunities presented by the new Golden Age. To adjust to our new reality, we will also be going virtual as we aim to bring you the most relevant insights into four areas:

• What are the emerging opportunities in the region's golden age
• Which verticals, companies, and business models are driving new innovation in Asia’s tech scene
• How the startup world will change in 2021 and beyond
• How to accelerate your business toward recovery

Sign up now at techin.asia/conference20 to get 40% off your ticket purchase.

YouTube in Indonesia now offers GoPay as a payment option, Sequoia India appointed ex-Gojek tech chief Ajey Gore as an operating partner, and Trump banned dealings with the parent companies of TikTok and WeChat.

You can hear the details on all this news and more on this week’s episode of The Weekly Snapshot.

More information on today's episode here: https://www.techinasia.com/weekly-snapshot-news-gojek-sequoia-india-tiktok

Episode Sponsor:

This year, the Tech in Asia Conference will explore the tech opportunities presented by the new Golden Age. To adjust to our new reality, we will also be going virtual as we aim to bring you the most relevant insights into four areas:

• What are the emerging opportunities in the region's golden age
• Which verticals, companies, and business models are driving new innovation in Asia’s tech scene
• How the startup world will change in 2021 and beyond
• How to accelerate your business toward recovery

Sign up now at techin.asia/conference20 for 40% off your ticket purchase.