Edtech’s on a roll, Bukalapak’s IPO, and Shopee heads to LatAm | Trusted Bytes News



Edtech in India is on a roll again, Bukalapak’s IPO success paves the way for future tech IPOs, and Shopee’s next big market is… Brazil?


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TRANSCRIPT


Edtech’s on a roll, Bukalapak’s IPO, and Shopee heads to LatAm

Edtech in India is on a roll again, Bukalapak’s IPO success paves the way for future tech IPOs, and Shopee’s next big market is… Brazil?

Welcome to Trusted Bytes! Here we give you week’s highlights in business news and emerging trends, with a lens on Asia. I’m your host Adrian Koh. If you like your news distilled like this, subscribe to us on YouTube or on any of your favourite podcasting services.

Edtech fever is raging in Asia – India welcomed two new unicorns with upGrad and Emeritus raising sizable rounds taking them into billion-dollar valuation territory. The two firms focus on helping learners access courses and credentials from top universities around the world. This is really a continuation of what we spoke earlier on the emergence of edtech in the region, providing access to education by lowering costs and barriers to world-class institutions, no matter where you are. As one of the best wealth generators for people providing social mobility, this is really an overdue step in education. Hot on those heels is the edtech scene in Southeast Asia, which is following very much in the steps of the Indian edtech firms. All in all, it’s less about VR, AR and creating a better virtual classroom at this point, and much more about creating inroads to high-quality education for those who want it.

Bukalapak made its debut on the stock market, and following its IPO the company’s shares jumped as high as 25%. This puts the Indonesian firm at the same level as established firms like telco Axiata and Jasa Marga. With its decision on listing on the Indonesian stock exchange, Bukalapak paves the way for other tech startups with IPO ambitions to list in the country. Considering how many Indonesian startups today are quickly coming of age, listing domestically might just help with improving Indonesia’s capital markets.

Homegrown ecommerce giant Shopee said that it has set its sights on Latin America as a growth target, and while its still at a very early stage, analysts say that it could rival Indonesia as Shopee’s biggest market; active monthly users today were said to be exceeding other markets in Asia. The opportunity is huge, considering that culture and social behaviours are more homogenous than Southeast Asia. But as Yanjun Wang, Chief Corporate Officer at Sea, Shopee’s parent company, said, that the company was still coming to understand the LatAm market and that they would explore it more… and see how it goes. In related news retail media spending is surging all across the world, as brands are discovering that investing on advertising on ecommerce platforms could are proving to be far more effective than on search engines.

And that's all the time we have for now. Check in with us again next week for more highlights from the news from Trusted Bytes. I’m Adrian Koh, and Trusted Bytes is a production of Trusted Services.

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