Indonesia s two tech unicorns announce merger
Xinhua
17 May 2021, 23:44 GMT+10
JAKARTA, May 17 (Xinhua) Indonesia s giant ride-hailing company Gojek and e-commerce marketplace Tokopedia announced on Monday their decision to officially merge to create a big technology group in Southeast Asia s largest economy. Named GoTo, the group could be worth about 18 billion U.S. dollars. Combining e-commerce, on-demand and financial services, GoTo is the first platform in Southeast Asia to host these three essential use cases in one ecosystem. Today is a truly historic day as we mark the beginning of GoTo and the next phase of growth for Gojek, Tokopedia and GoTo Financial. Gojek drivers will deliver even more Tokopedia packages and serve as merchant partners of all sizes to benefit from strengthened business solutions, and we will use our combined scale to increase financial inclusion in an emerging region with untapped growth potential, Chief Executive Officer (CEO) of GoTo Group
Square Yards ends FY21 with $50m revenue
Tanuj Shori, Founder and CEO, Square Yards.
The company registered its sixth consecutive profitable quarter in Q4, clocking a revenue of $17.2 million.
Square Yards, India’s largest integrated real estate platform today declared its full financial year results with $50 million revenue, up 17 per cent year on year and EBITDA margins of 14.2 per cent. The Gross Transaction Value (GTV) stood at $1.1 billion up 33 per cent year on year.
The company registered its sixth consecutive profitable quarter in Q4, clocking a revenue of $17.2 million , a 47 per cent year on year increase for the quarter with 15.2 per cent in EBITDA margins. Annualising last quarter in dollar terms, Square Yards is now clocking $70 million revenue and $10 million EBITDA run rate.
40,000 Cr in FY 20-21 By siliconindia | Tuesday, 11 May 2021, 09:06 Hrs India’s leading digital payments network, PayNearby announces that it has recorded Gross Transaction Value (GTV) worth 54,000 Crores in FY 20-21, with an exit month GTV 32 percent higher than the average monthly GTV booked in FY 19-20. However, the firm has produced ~ 290 Crores of revenue through its retail associates and about ~ 40 Crores of fee for its banking partners in the same financial year. Amid the pandemic, the generation of stable income opportunities for its partnering retail community ensured steady livelihood across lakhs of household across the country. However, FY 20-21 witnessed an irreparable loss both in lives and livelihoods among many, thus agent banking network played a crucial role in ensuring relief expenses reach the hands of the intended. Aadhaar ATM, which is the backbone for disbursing DBT to citizens, witnessed a huge surge acro
The COVID-19 pandemic has sparked even more growth in this industry
The COVID-19 pandemic has pulverized the restaurant and entertainment industries. Small businesses that rely on a brick-and-mortar footprint have been forced to face this catastrophe head on. However, the e-commerce space has achieved massive growth over the same period. The closure of traditional retail has pushed even more consumers to digital alternatives. According to new data from
IBM’s U.S. Retail Index, the pandemic has accelerated the shift to e-commerce by five years.
Shopify and Lightspeed POS have benefited from this trend. Which is the better buy today? Let’s jump in.
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