GoTo, JD Logistics, FinTech in Southeast Asia | Trusted Bytes News Ep. 1


Ep1: In our inaugural news podcast, we cover news on the GoTo merger, JD Logistics's IPO, and FinTech in Southeast Asia. Also, we share what to look out for in future episodes.


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Transcript:


Hi and welcome everyone to the Trusted Bytes podcast. And welcome, of course, to our first ever episode, season one, episode one. I'm your host, Adrian Koh from Trusted Services. So if you like our content, please hit the subscribe and notification buttons to get the latest and greatest from us.

What's Trusted Bytes all about, well, I'm glad you asked.

This is a weekly podcast where we bring the highlights from the week's news and business, along with insights, ideas, and emerging trends, and with a focus on Asia. Now I tend to personally think that Southeast Asia is one of the most exciting regions for business, even as a global pandemic, still looms over us.

But back to Trusted Bytes.

What we're looking to cover is everything you need to be aware of to take your business to the next level. We also run episodes and video interviews with thought leaders in Asia. So look out for those for now.

Let's get onto the news.

Big news this week is Go-Jek and Tokopedia merging to form a new entity, called GoTo group. Now that makes sense. Doesn't it? This will make go to the largest technology group in Indonesia and Indonesia being the fourth, most populous nation in the world is going to be a lot of room for GoTo to grow. Combined, GoTo is estimated to be worth about US$18 billion. And this is just by observers.

A company itself has not come up to comment on its valuation, but just as an estimate, they have a combined gross transaction value of US$22 billion in 2020, and their services were now cover on-demand, financial services, and then of course, e-commerce. Prior to this, some of you may have heard that Gojek and Grab were in talks, but those didn't go through.

And so what we have here today is a made-in-Indonesia giant looking to take over the fourth, most populous nation in Asia and potentially the rest of the region. So next in the news, JD logistics to logistics subsidiary of JD.com is getting ready for an IPO. And initial public offering in Hong Kong. So the IPO will raise about US$3.4 billion. How does this raise the stakes for players in China? So unlike their main rival Alibaba, JD.com is taking pages out of the Amazon playbook. They're going heavy on assets like warehousing and taking on 240,000 staff just for delivery operations and customer services. It is a vertical integration that paid off for Amazon's and you can see where Amazon is today and together with the same day next day delivery services.

The question is, will it pay off for China? If you have a thought or comment on that, let us know in the comments.

Next up, we're looking at FinTech. This space is heating up again. Business financing and Singapore-based company Aspire, who wants to be a one-stop shop for business financing for SMEs just said that its business accounts have reached 1 billion in annual transaction volume just a year after launching.

So not just in business finance. We also have the buy now pay later players or BNPL as some might call it. Much of the confusion of football fans. Who's using buy now pay later services? This is a service targeted at Millennials and Gen Z kids who are now using it more and more in retail. And e-commerce so what's the difference between buy now pay later and credit cards?

Well, buy now pay later. Unlike credit cards saves you from the long application forms, the annual fees, scary late fees, and instead gives you a simple, easy to use way to break up your payments. And at the very most you get a flat rate late fee. This is probably going to be an attractive option if you don't have all that much cash, and if you're looking to get that something that's maybe a little bit too expensive.

So fintech is looking to be really interesting, again, especially with the buy now pay later guys. I'm keen to see how this is going to affect our work purchasing habits, not only online, but offline as well.

So that's all the highlights we have time for this week, but there's still tons of news to catch up with and we are on top of it. And if you'd like to see more of the stuff that we're curating in terms of news, we are pulling it all together on our telegram channel. And if you'd like to follow us, the links are in the description.

So that's all for now. Check in with us again next week for more highlights from the news. My name is Adrian Koh and this has been Trusted Bytes.

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