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gmglobalconnect According to them double-digit default rates are the norm at the moment. Ovo, a mobile wallet co-owned by Grab and Tokopedia that also offers a variety of loans to its users, states an 18.35% default rate on consumer loans in a document seen by us. In fact, Akulaku used to have an unsophisticated risk assessment … Read more
In Indonesia, there are additional signs that Akulaku is in a cash crunch. Its staff is only getting 20% of the Eid bonus, said a former employee, with the remaining promised by Christmas. Several employees have been tasked with chasing deposits for Bank Yudha Bhakti, in which Akulaku owns a significant stake, the person added. … Read more
But now, Akulaku isn’t paying back. Mintos has other Indonesian lenders on its marketplace, like Kredit Pintar, JULO, DanaRupiah, and Pinjam Yuk. But none of them have fallen massively behind schedule to the point of suspension yet. Akulaku’s tale is one of weak internal governance and oversight, and the reckless execution of a growth-by-all-means strategy. … Read more
However, to its credit, UFC, which has been around since 1993, painstakingly promoted the concept of MMA as a veritable sport and not just a bloody spectacle. In contrast, ONE launched at a time when the MMA promotion model had largely been figured out. To that end, it had the opportunity to take the best … Read more
Riot Games was founded in 2006, released its flagship product, the multiplayer online battle arena game League of Legends, in 2009, and hit an estimated 100M monthly players in 2016 Game development, though, is only a part of ONE’s tech ambitions. The company also had an OTT dream, which seems dead in the water. When … Read more
A person familiar with the matter revealed that ONE initially approached Singtel asking for a US$50 million year-long cash sponsorship of its esports events, which Singtel declined. “They don’t even have a game. So Singtel said, ‘no thank you,’” the person tells us. ONE too many fancies For ONE’s maiden esports event in Singapore—the Dota … Read more
As per former staff who spoke to us, ONE has struggled over the years to land MMA sponsorships and fill event venues with paying patrons. The company allegedly resorted to various tactics to try and mask the low turnout of its events—including giving away tickets for free in order to bill events as “sold out”. … Read more
All this streamlining, though, has an inevitable downside. M17 has been known for its “hire fast, fire faster” culture, according to industry insiders and former employees. “They’re ruthless. Even if you’ve been there a long time, working your ass off, if they want to fire you they will fire you,” said the ex-employee. Nevertheless, the … Read more
Like social media, online dating is a network effects business, where bigger platforms tend to perform significantly better,” he told us. Perhaps, in some ways, Paktor was baggage. It meant “mindshare” between streaming and dating for Phua, and, therefore, was a “distraction”, said Infinity Ventures’ Huang. “It’s a great business. It’s just that for investors … Read more
Meanwhile, in Taiwan, M17 acquired one of its biggest rivals, MeMe Live, in late 2019. This brings its market share in the country to 60% from 40-50%. As MeMe Live is also in Japan, it allows M17 to keep its focus, said Koo. Beyond Japan and Taiwan, though, M17’s ‘non-core’ markets have seen a very … Read more