* Malaysia’s Richest 2018: Anthony Tan’s Grab Hits $6B Valuation As Ride-Hailing Race Quickens

By Susan Cunningham
Forbes Asia

This story appears in the March 2018 issue of Forbes Asia as “Up for Grabs”

When Grab closed a $2.5 billion fundraising round in January, the valuation of the ride-hailing company not only rose north of $6 billion, according to Pitchbook. It also lifted cofounder Anthony Tan onto the list of Malaysia’s 50 richest. He debuts with an estimated net worth of $300 million. Led by SoftBank and Didi Chuxing, the investment was Southeast Asia’s biggest single venture-capital fundraising round ever. Other investors include Hyundai Motor and Toyota Tsusho.

Tan, 36, the startup’s chief executive, could have enjoyed a cushy ride with his family’s auto-sales business, run by his father, Tan Heng Chew, and two uncles. (Heng Chew and his brothers made the list the last five years before falling off this year.) But six years ago he teamed up with a Harvard Business School classmate, Tan Hooi Ling (no relation), to launch a taxi-hailing application in their home city of Kuala Lumpur. They first called it MyTeksi.

Myanmar and Cambodia

With eight investment rounds under its belt, Grab has branched out into services for private cars, motorcycle taxis, carpooling and goods delivery while making an ever increasing investment in mobile-software research and development. It offers transportation services in 168 cities in eight Southeast Asian countries, having added Cambodia and Myanmar in 2017. 
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* Keeping Up With Rocket’s Southeast Asian Adventures

(Originally published December 31, 2013)

By Susan Cunningham
Forbes.com

Beginning with fashion site Zalora in the Philippines in late 2011, Germany’s Rocket Internet has been hatching dozens of copycat e-commerce sites in Southeast Asia and the general vicinity–and quickly shutting down some of them. It’s invested at least $200 million already in Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam–perhaps more like $500 million if Rocket startups are spending tens of millions of marketing dollars in each country as rumored.
rocket in SE Asia


In the coming year,  we’ll  probably see  some of that money expended on the intense city contests for taxi-booking apps and restaurant delivery services.  I also think that, as new fashion sites pop up  or existing ones become more visible, Zalora will have to come up with a better selection of women’s clothing. MORE