Credit by Jack Ma and Jeff Bezos © seasia
RECAP: Best Tech Stories That Rocked Southeast Asia in 2017
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RECAP: Best Tech Stories That Rocked Southeast Asia in 2017

From Amazon’s entry to tech leaders’ market debuts and the region’s biggest investments, here’s the rundown of the top tech news that made a splash in Southeast Asia this year, according to Tech In Asia.

Back-to-back public debuts
 
Southeast Asia’s startup community kept a close watch on the initial public offerings of PC gear maker Razer and Tencent-owned games company Sea late this year.

Tencent-backed Sea, formerly Garena, begins process for New York IPO | The Straits Times
Tencent-backed Sea, formerly Garena, begins process for New York IPO | The Straits Times

Amazon’s grand entrance
 
Speaking of e-commerce, the sector just got a lot more exciting with US behemoth Amazon now in the picture.

Amazon has begun its foray by dipping its toe in the small but dense urban market of Singapore, bringing its Prime Now service, which is tailor-made for urban residential areas | Trending News Worldwide
Amazon has begun its foray by dipping its toe in the small but dense urban market of Singapore, bringing its Prime Now service, which is tailor-made for urban residential areas | Trending News Worldwide

Alibaba’s shopping spree
 
Jack Ma’s company continued its big push into Southeast Asia, this time leading a $1.1 billion investment in Indonesia’s Tokopedia.

Jack Ma | Nakaglide
Jack Ma | Nakaglide

US giant bets on Indonesia
 
Online travel startup Traveloka’s $350 million funding round led by Expedia.

Source Image: Tech In Asia Indonesia
Source Image: Tech In Asia Indonesia

The first Filipino unicorn

Revolution Precrafted raised its series B round co-led by Singapore’s K2 VC last October, valuing the company at over $1 billion, according to two Tech in Asia sources familiar with the deal.

Revolution Precrafted properties by Zaha Hadid
Revolution Precrafted properties by Zaha Hadid

Uber gets in bed with Singapore’s largest taxi company
 
Uber signed a deal to sell 51 percent of its car rental unit to ComfortDelgro for $218 million.

ComfortDelgro Corporation | Aspire
ComfortDelgro Corporation | Aspire

Malaysia opens digital free trade zone

In November, Chinese billionaire Jack Ma opened the doors to a free trade zone in Malaysia.

Source Image: The Malaysian Reserve
Source Image: The Malaysian Reserve

Grab’s massive war chest

Grab’s $2 billion funding round from China’s Didi Chuxing and Masayoshi Son-led Softbank, the single largest financing in the history of Southeast Asia.

GrabPay now officially positions itself as the payment method of choice for cash-based merchants, with a value proposition of affordability, a user base of 4 million in Singapore and a service which requires no new payments devices | Grab
GrabPay now officially positions itself as the payment method of choice for cash-based merchants, with a value proposition of affordability, a user base of 4 million in Singapore and a service which requires no new payments devices | Grab

The new investment supposedly gave the firm a post-money valuation of over US$6 billion, making it the region’s most valuable startup.

Grab will use the money to tighten its grip on the ride-hailing market in the region and invest in its mobile payments solution, GrabPay.

The company has made GrabPay available to use for payments at hawker center stalls and restaurants in Singapore, marking its biggest move yet outside of the transportation segment.

Source : TechInAsia

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