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gmglobalconnect Making the transition to mobile gaming, though, wasn’t easy. The company was not good at judging games earlier, said the former employee quoted earlier. It was Chris Feng, Garena’s then head of mobile business, who got the team to look at historical data on how a game performed in an existing market. “If the game … Read more
Sea’s EBITDA for digital entertainment, under which Garena is parked, was net positive at US$298.4 million, a 32.2% year-on-year increase. Its e-commerce and digital financial services were both in the red, at US$260 million and US$101.6 million, respectively. On the back of this performance, Sea’s stock is riding at an all-time high. It was Garena’s … Read more
Another way to scale fast might have been a franchise model, where he lets other people operate Kopi Kenangan stores and gets a license fee in return. “But that’s very different unit economics,” Tirtanata says. He wants to own and operate Kopi Kenangan stores to stay on top of quality and consistency and reap higher … Read more
If we take the barista’s more conservative estimate, Kopi Kenangan’s 300 stores would have served at least 90,000 cups a day. That’s roughly US$3.4 million in monthly revenue. Kopi Kenangan also sells other pricier drinks, so the total is probably higher. To return Kopi Kenangan to this pre-Covid health, Tirtanata wants to move towards a … Read more
To serve coffee drinkers, countless small coffee shops sell products similar to Kopi Kenangan’s in Indonesia. China, meanwhile, has a tea-drinking culture. Its per capita coffee consumption is low by Asian standards, and it’s not a major coffee producer either; although, it’s starting to produce more. Luckin took a chance on an emerging trend in … Read more
Both raised venture capital and scaled quickly; Luckin raised between US$200 and US$300 million the year after launch its in late 2017. The company claimed that the fundraise brought its valuation to US$1 billion. It was valued at US$2.9 billion before its Initial Public Offering (IPO) in 2019. Kopi Kenangan announced a US$109 million funding … Read more
In turn, PayPal merchants will now be able to accept payment using GoPay. As a result, Indonesia-based shoppers will soon be able to use GoPay to buy goods from PayPal retailers worldwide. PayPal and Gojek declined to comment on how their partnerships might be extended to other countries in Southeast Asia. With PayPal, there’s potential … Read more
Through 2016 and 2017, Gojek systematically built out its fintech stack with strategic acquisitions. Its first move was to take over MVCommerce, a relatively small player which held an e-payments license. This proved a valuable investment because e-payments licences became increasingly difficult to get in Indonesia as the country’s central bank throttled the issuing of … Read more
The deal takes its current investment round to more than US$3 billion, according to a company statement. (Gojek previously disclosed a US$1 billion investment in February 2019, and a US$1.2 billion addition to that round in March 2020.) Gojek gets an easy edge over its biggest competitor in the region—Grab. Grab’s largest financier, SoftBank—which has … Read more
In some cases, OJK has appeared toothless in spotting and preventing fraud at the companies it’s supposed to oversee. Late last year, a scandal at Indonesia’s largest state insurer, Jiwasraya, unfolded right under the watchdog’s nose. Still, some investors continue to back Akulaku. Earlier this year, it signed credit line deals with Singapore-headquartered OCBC Bank … Read more