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The first employee quoted earlier told The Ken that adoption for The Star’s digital subscription were “within projections”, thanks to the nationwide lockdown which boosts digital consumption, but declined to provide specific figures. There is also no breakdown on the number of subscribers made to shift from StarBiz Premium to The Star Digital Access. A … Read more
But the traction for StarBiz Premium—which claims to have a focus on capital market news and analysis—“wasn’t good”, says a second The Star employee, as the StarBiz team lacks manpower to produce in-depth and exclusive stories for subscribers. “Also, there was no point when readers can read the same thing on the print,” said the … Read more
Wading into the events space, though, meant leaving its comfort zone. As a publisher, Garena didn’t have to deal with the headache of events. As it looked to control more of the value chain, however, it quickly taught itself new tricks at every turn. Initially, Garena knew little about mobile gaming tournaments. Today, however, it … 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
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
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 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
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