Get to know more about ‘Unicorn’ legendary animal of startups,
and two examples of startups in ASEAN that have risen to the level of unicorns
Nowadays, we often hear about Startup business because this trend is very popular right now, especially in the world where technology is constantly evolving. A startup is bringing IT and technology to combine and use in business to solve people’s daily life problems. So we can see a lot of new startup company but not everyone can be successful because the world of business is very competitive. Today, the goal of startups is to bring their companies to the ‘unicorn’ level, which is not easy to get there. Also, companies that are at this level must be called the best. This article will take you to know more about the legendary animal ‘unicorn’ of the startup industry, together with the two startups in ASEAN that have become Unicorn level
The term ‘unicorn’ began to be used in startups in 2013, by a US investor Aileen Lee. She refers to unicorns in her article saying that opportunities for startups to grow and generate as much as $ 1 billion in value are very difficult. But if any business can do it, it is like a mythical creature like the unicorn that symbolizes the bright and imaginary world that no one has ever met. It can be concluded that ‘Unicorn’, in the startup industry, is a business that has been in operation for only a few years but has been successful. And the value of the business must exceed US $ 1 billion or approximately 33,000 million baht.
Southeast Asia is a region where there are many new startup companies and the famous startup in ASEAN that we know well is SEA Group from Singapore and Traveloka from Indonesia. Both of these two companies have reached the Unicorn level and this article will take everyone to explore what the above 2 companies do!
When it comes to ROV games or online shopping apps like Shopee, many people would probably recognize it. The two apps are examples of works created by parent company Sea Group, a major game, e-commerce, and e-payment provider from Singapore. According to reports, Sea Group’s operating results have been steadily growing for example, in the third quarter of 2020, there was a gross profit of $ 407.58 million or equivalent to approximately 12,400 million baht in Thai Baht. Right now, Sea Group has offices in 14 countries around the world and has become a unicorn startup company with a value of up to 6 billion US dollars. The company also got into the New York Stock Exchange.
Traveloka is Southeast Asia’s leader in online flight booking and accommodation the headquarters is in Indonesia. Traveloka is a startup business that solves the difficult problem of booking air tickets and hotels by creating a search engine website to collect and facilitate flight ticket booking. It also compares the price of each airline including hotel reservation services via online channels. In 2017, investors estimated that Traveloka’s value was up to $ 4.5 billion, and Traveloka became an Indonesian startup that rose to the unicorn level. Traveloka now has grown in popularity with ASEAN people with over 60 million downloads and also plan to start in financial as well.
The race to rise to the level of unicorns in startups is quite common. The advantage of going to the unicorn level will not only help generate income for the company. It also attracts investors from all over the world to invest to expand the business. And we will receive innovations that are being developed to facilitate and solve problems in our daily life. For the startup industry in Thailand, we will have to wait and see which companies will rise to be the first Unicorn level!
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