Southeast Asia has been a middle of stunning economic growth in recent a long time, with the emergence of progressive and disruptive technology firms. Amid these successes, several firms have achieved the weird status of being called “decocorns” – a term referring to start-up firms valued at greater than $10 billion.
The list of decacorns in Southeast Asia reflects the region’s attractiveness as a spot for innovation and exciting business opportunities. These firms have emerged from various sectors including e-commerce, transportation, finance and others. They have modified the regional business landscape by offering smart solutions and leveraging the potential of a rapidly growing market. Their success not only has an economic impact, but additionally reflects the growing potential and entrepreneurial spirit of Southeast Asia.
To catch
Grab, Southeast Asia’s first decacorn, has modified the face of the industry since its founding in Malaysia in 2012. Originally generally known as a web based taxi platform and now headquartered in Singapore, Grab has evolved in some ways. As a “super app” that never stops innovating, Grab offers a big selection of services, including passenger transportation, food delivery, payments and more. In February 2019, Grab achieved a staggering valuation of roughly $11 billion, earning the title of Southeast Asia’s first decacorn. However, last 12 months Grab experienced a downturn and lost its Decacorn status.
Gojek
In 2015, Gojek launched its revolutionary app with just 4 initial services: GoRide, GoSend, GoShop and GoFood. Over time, nonetheless, Gojek’s successes increased rapidly. By June 2020, Gojek had attracted the eye of at least 170 million users in Southeast Asia, making a huge effect. Not only in Indonesia, Gojek has expanded to 5 other countries including Vietnam, Singapore, Thailand and even the Philippines after acquiring Coins.ph. In 2019, Gojek became the primary decacorn in Indonesia, with a valuation of around $10 billion.
J&T Express
J&T Express, a number one logistics company based in Indonesia, has achieved success with a valuation of a whopping $20 billion. With this achievement, J&T Express becomes considered one of only two Decacorns firms to grace the business world in Indonesia. Since its establishment in August 2015, the corporate has experienced phenomenal growth in the world of international forwarding and cross-border logistics. J&T Express has also proven its resilience through the Covid-19 pandemic. In this difficult situation, J&T Express has develop into a pillar of trust for 1000’s of individuals, ensuring fast and secure delivery. The company’s success doesn’t end there. J&T Express has expanded its delivery network to 12 countries in Asia and Latin America, making a reputation for itself in the worldwide logistics scene.
SEA Group
SEA Group, a diversified company headquartered in Singapore and generally known as the Decacorn startup in Southeast Asia, has a formidable presence within the digital entertainment, e-commerce and digital financial services industries. Shopee, a SEA Group company, is within the highlight of the e-commerce industry. Over time, the valuation of SEA Group and its subsidiaries, including Shopee, has increased. In 2019, SEA Group, the parent company of Shopee, became a Decacorn with a valuation of over $10 billion.
