SE Asia digital economy to reach $240b in valuation

21 November, 2018, 07:32 | Author: Sammy Rose
  • SE Asia digital economy to reach $240b in valuation

Moreover, given the growing trend of consumer trust in e-commerce players in the region, the sector is set to be worth US$102 billion by 2025.

South East Asia has 350 million internet users across its six largest countries - that's more than the entire United States population - and the latest data suggests its internet economy will reach $72 billion this year, up from $50 billion last year and $19.1 billion in 2015.

Google released the report with Temasek. It is expected to exceed US$100 billion by 2025.

In that same timeframe, Thailand's digital economy is projected to triple from current US$12 billion to US$43 billion and Vietnam from US$9 billion to US$33 billion.

"Powered by the ambitions of Go-Jek and Grab to become Southeast Asia's "everyday apps", we project that ride hailing will reach nearly $30 billion by 2025", the Google-Temasek study said.

"There might be only five million connected users in Singapore versus 150 million in Indonesia, but Singapore's consumers do have significantly higher incomes and buy more products and services online than a user in Indonesia", said Mr Rajan Anandan, Google's vice-president for South-east Asia and India.

"2018 has been the year for e-commerce in Southeast Asia".

The study has estimated the region's digital economy to triple in size, from its current value and reach $240 billion over the next seven years. The industry's three biggest regional players were Lazada, Shopee, and Tokopedia.

Texas girl, 6, strangled baby brother as dad shopped
The father then found his son unresponsive with a seatbelt around his neck, and tried to perform CPR until paramedics arrived. She told her 26-year-old father that she had done "something bad" when he returned to the vehicle , The Daily News reported .

USA briefly shutters border crossing to brace for migrants
"We determined that the mission was absolutely legal, and this was also reviewed by Department of Justice lawyers", Mattis said. They are causing crime and big problems in Mexico. "Catch and Release is an obsolete term".

"Dancing with the Stars" Season 27 Winner Announced
Neil Patrick Harris didn't hold back when it came to airing his views on the Dancing With The Stars finale. Evanna Lynch first appeared as Luna Lovegood in the 2007 film Harry Potter and the Order of the Phoenix.

The report is a multi-year research project that aims to shed light on Southeast Asia's internet company by covering four key sectors: online travels, online media such as gaming and subscription music, ride hailing in terms of transport and food delivery, and e-commerce.

A total of six economies - the region's largest - have been covered in the report. Ride-hailing services are popular in Singapore, the second-largest market in the region by value, worth an estimated $1.8 billion in 2018. In 2015, funding by venture capitalists, private equities and corporate investors crossed the US$1 billion mark.

Growth in revenue is actually coming faster for food delivery services over core transportation services, which is a good sign for Grab and Go-Jek since the two businesses have aggressively expanded into additional on-demand services.

Among these sectors, Fintech was by far the most dynamic, attracting over $500 million of investments in the first half of 2018 alone, more than twice as much as in all of 2017.

Go-Jek, Lazada and Tokopedia on the other hand successfully closed billion-dollar funding rounds, whilst Razer and Sea Group successfully tapped into public markets to fund their growth plans in 2017, the e-Conomy SEA report highlighted.

Also worth noting is that companies valued between US$10 million and US$100 million raised a record US$1.4 billion in the first half of 2018.

It added that this year was on track to be a record year for fund-raising for the region's Internet economy companies, with US$9.1 billion raised in the first half of the year, almost as much as in all of last year.

The report also presents the advances made by many regional tech companies in formulating their own digital payments platforms and mobile wallets.


  • Dead sperm whale found in Indonesia had ingested '6kg of plastic'

    Dead sperm whale found in Indonesia had ingested '6kg of plastic'

    After China, Indonesia is the world's largest plastic polluter, according to research published earlier this year. Upon further examination of the dead whale, it was found to have swallowed almost six kilograms of plastic waste.
    ATP Finals: Djokovic Overcomes Zverev Hurdle

    ATP Finals: Djokovic Overcomes Zverev Hurdle

    On the second, he slowed things down, took a deep breath, bounced the ball 17 times-and 11 more on the second serve-and held, 5-4. The world No 5 began to crank through the gears in the second set earning break points on four consecutive Cilic service games.
    Yankees acquire James Paxton in trade with Mariners

    Yankees acquire James Paxton in trade with Mariners

    Sheffield, 22, made his Major League Baseball debut in 2018, appearing in three games with the Yankees . The left-hander will be a huge bargain for NY , having earned just $4.9 million in 2018.
  • E. coli outbreak in romaine lettuce prompts nationwide warning from CDC

    E. coli outbreak in romaine lettuce prompts nationwide warning from CDC

    Thirteen people were hospitalized, including one person who developed hemolytic uremic syndrome, a type of kidney failure. As of Tuesday, the grower, supplier, distributor and brand of the infected lettuce is not known, the CDC said.
    Foster + Partners unveils plans for ‘sci-fi’ tourist tower The Tulip

    Foster + Partners unveils plans for ‘sci-fi’ tourist tower The Tulip

    Safra have revealed renderings of a 1,000-foot-tall observation tower for a Gherkin-adjacent site in Central London . The Gherkin may be getting a much taller sibling, as Foster + Partners and billionaire Jacob J.
    Check out the final trailer for Jason Momoa’s ‘Aquaman’

    Check out the final trailer for Jason Momoa’s ‘Aquaman’

    Stephen Shin), Yahya Abdul-Mateen II (David Kane/Black Manta), and an army of underwater warriors riding great white sharks. Now if you're a trailer spoiler-phobe... well, you probably should not even have clicked on this article to begin with.
  • New tech regulation 'inevitable,' says Apple CEO

    New tech regulation 'inevitable,' says Apple CEO

    The Apple CEO seemed to not like government regulation when it comes to user privacy but rather believes in a 'free market' . However, Cook added, "I'm actually encouraged at this point that there will be a more marked improvement over time".
    Autistic boy's moving letter to Ann Hegerty

    Autistic boy's moving letter to Ann Hegerty

    Clearly touched by the star, the young boy penned the letter in which he gushed over the star and her entry into the jungle. Anne and football manager Harry Redknapp had to put their hands in the holes, which contained mud crabs and spiders.
    Trump to rally in Tupelo ahead of Senate runoff

    Trump to rally in Tupelo ahead of Senate runoff

    President Donald Trump will come to Tupelo on Monday, Nov. 26, for a "Make America Great Again" rally in support of U.S. Hyde-Smith issued a statement, calling her remark "an exaggerated expression of regard", but did not apologize.
  • Jada Pinkett Smith Says She Pulled Knife On Drunk Boyfriend

    Jada Pinkett Smith Says She Pulled Knife On Drunk Boyfriend

    The Gotham actress sat down for a chat with her mum, Adrienne Banfield-Jones to discuss their experiences with domestic violence. I remember jumping in that sweatsuit, grabbing a big old knife from the kitchen and hiding in his son's room.
    'The View' reacts to report Ivanka Trump used private email

    'The View' reacts to report Ivanka Trump used private email

    She was "often replying to other administration officials who contacted her through her private email", the Post reports . One senior federal official aware of the situation described Trump as the "worst offender in the White House".
    Most Black Friday 'deals' cheaper at other times, says Which?

    Most Black Friday 'deals' cheaper at other times, says Which?

    If you need to buy something, always make sure you've done your research and checked product reviews first. Here are the hottest Black Friday 2018 Amazon deals for gamers and other tech-oriented consumers.


Valve quietly discontinues Steam Link hardware production
The Steam Link hardware is a small, unimposing box with an Ethernet port, an HDMI output, and a few USB ports. Those options allow for 4K streaming, which is just not possible on the Steam Link hardware.

Here's the reason Tumblr is missing from Apple's app store
In its statement , it said that all images uploaded to Tumblr pass through a database of "known child sexual abuse material". Tumblr's latest announcement, made this morning, notes it's still working to restore the app to the iOS store.

#FacebookDown Erupts On Twitter As Facebook, Instagram Experienc
After more than one hour of outages, some Australian users reported that they had regained access to the messaging service. Both social networks are experiencing problems that has left users unable to access their accounts or post content.

Howell clings to lead as Gore and Champ charge in Georgia
Champ is a 23-year-old who in his second start as a PGA Tour member last month in the Sanderson Farms Championship. And then it was steady golf the rest of the way as Champ and Gore, along with Simpson and others, closed the gap.

Trump’s comment about raking to prevent wildfires gets lambasted by Finns
There is no reason for these massive, deadly and costly forest fires in California except that forest management is so poor. It was all of course a nod to his suggestion simply raking the forests in California could have prevented the loss of lives.

At least 40 killed in bombing of Afghan religious celebration
A government spokesperson Najib Danish was quoted as saying that a suicide bomber may have been behind the attack. Tolo News quoted eyewitnesses as saying that at least 1,000 people were in the hall at the time of the explosion.

Eagles to wear home uniforms vs. Saints because of bet
Jenkins discussed the gesture in an interview with NBC Sports Philadelphia . After the play, Jenkins flipped the bird at Saints coach Sean Payton.

J.R. Smith Believes Cavs Entered 18-19 Planning To Rebuild
He noted the New Orleans Hornets squad he played on his rookie year that finished tied for the second worst record in the league. Smith is reportedly done playing with the Cleveland Cavaliers , per The Athletic , while he vies for a trade.

The DUP just stopped supporting Theresa May in parliament
Northern Ireland's Democratic Unionist Party struck a deal a year ago to back May's Conservatives on major legislation. The event comes just as her future as prime minister and the state of Brexit are both up in the air.

Taliban hold talks with US envoy in Qatar
Taliban leaders had not accepted any deadline set by the wrap up talks, three Taliban officials added. Both were former inmates at the U.S. prison in Guantanamo Bay.