[Originally published on Forbes.com in 2015]
With the soft launch last month of Priceza websites in Malaysia, Philippines and Singapore, Thailand’s number one shopping price comparison portal now has a presence in five countries with a total of 540 million residents. Priceza Thailand debuted in January 2010 and Priceza Indonesia in May 2013. Next market in 2015: Vietnam. If all grows as planned, the six sites will attract nearly 400 million annual visitors in 2019.
Back in 2009, when three former Chulalongkorn University classmates were dreaming up website ideas, “we were looking for a scalable model. From day one, we knew wanted to be in other countries too,” says Priceza CEO Thanawat (Wai) Malabuppha.
It’s complicated, though. The competitive landscape in each country is different. That isn’t just a reflection of per capita income and internet penetration but also of payment systems and the sheer number of e-commerce websites. MORE
By Susan Cunningham
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. Continue reading
By Susan Cunningham
Digital News Asia | Aug 02, 2016
- eBay founder’s US$2mil grant to Phandeeyar will also support social entrepreneurs
- Myanmar SIM card subscriptions grew 10-fold in two years
A US$2-million grant from the Omidyar Network to Yangon tech community Phandeeyar will help support a for-profit accelerator programme to be launched in September.
After hearing pitches from short-listed candidates in mid-August, judges will select four to eight winning teams, according to Phandeeyar Accelerator director Jes Kaliebe Pedersen.
Each team will get US$25,000 in seed money, office space, and six months of coaching by some of Phandeeyar’s 30 mentors, who include executives and investors in Myanmar and abroad.
By Susan J. Cunningham
This story appears in the March 2015 issue of Forbes Asia as “Hailing Taxis, Building a Business”
When Anthony Tan graduated from Harvard Business School in 2011, he was expected to rejoin his two older brothers at the family firm, Tan Chong Motors. Instead, the youngest Tan, now 33, decided to strike out on his own with a mobile taxi app developed for a school business-plan contest. His mother was one of the original angel investors; his father, Tan Heng Chew (No. 16 on the richest Malaysians list), wasn’t. The apple didn’t fall too far from the tree, though. Anthony says he was inspired by his entrepreneurial grandfather, Tan Yuet Foh, who was a Kuala Lumpur taxi driver before building the multinational auto sales-and-assembly empire.
Tan’s GrabTaxi wasn’t the first mobile hailing app untethered to a specific taxi company. But the concept was novel in Kuala Lumpur and Johor Bahru when Tan launched what was then called MyTeksi in June 2012. For passengers the free smartphone app enables them to hail a cab from any taxi company, regardless of their location, as well as see the identity of their driver, the route to their destination and the estimated fare. For taxi drivers the app not only earns them an extra fee (the equivalent of 28 U.S. cents for each fare in Kuala Lumpur), but also saves them from wasting gas and … MORE