Singapore’s billion-dollar start-ups: Where are they now?
Online market Carousell is Singapore's latest unicorn after raising US$100 million (S$134.6 meg) in fresh funds that valued the company at United states of america$1.1 billion on Sep xv.
The term "unicorn" was get-go coined in 2022 by venture capitalist Aileen Lee, used to draw a privately held kickoff-up visitor with a valuation of over US$ane billion.
Over the years, Singapore, which has a robust start-up scene, has seen a growing list of unicorns. In fact, the city-state ranked fourth in the world (tied together with United states and Australia) for how fast its start-ups turned into unicorns, co-ordinate to a global ranking by British price comparing website Coin.co.uk.
Aside from Carousell, other newly minted unicorns include intellectual analytics get-go-upwards PatSnap, fintech company Nium and car market Carro.
Which are some of Singapore'south kickoff-ups that used to dominion the billion-dollar club, and where are they now? Let's accept a expect.
After launching in Malaysia in 2012, Grab achieved its unicorn status 2 years later. That same year, it moved its headquarters to Singapore.
Grab aspires to exist an all-in-ane "super app" offering food services, digital payments, and door-to-door parcel delivery. The company got a status upgrade in 2022 when it became a decacorn (offset-up with valuation of over US$ten billion). Information technology is at present targeting a U.s. listing through a SPAC merger with Altimeter Growth Corp worth US$40 billion.
LAZADA
Lazada is one of the largest e-commerce platforms in Southeast Asia, headquartered in Singapore. Information technology was ane of several east-commerce unicorns based in the region, joining the ranks of Indonesia'south Tokopedia and BukaLapak.
Chinese conglomerate Alibaba acquired a bulk stake in Lazada in 2022 through a US$1 billion investment. It pumped in some other US$1 billion investment in 2017, and a Us$2 billion investment in 2018.
Body of water
Ocean, a consumer Internet platform provider formerly known as Garena, achieved its unicorn status in 2014. While it started out as a gaming visitor, information technology now operates three main lines of business, a gaming arm, an due east-commerce arm and a digital financial services concern. Its primary product in e-commerce is Shopee.
Body of water moved on from the unicorn order when information technology listed its IPO on the New York Stock Commutation in 2017. It currently has a market cap of over US$180 billion, co-ordinate to Bloomberg.
RAZER
Gaming technology company Razer entered the unicorn club in 2015. Just just like Bounding main, the company moved on from unicorn status when it listed as a public company on the Hong Kong Stock Exchange in 2017. The visitor is now worth around U.s.$i.ix billion, according to Bloomberg.
Source: https://cnalifestyle.channelnewsasia.com/experiences/billion-dollar-startups-unicorn-singapore-280541
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