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Top 10 Unicorns in ASEAN: Three from Indonesia

Reza Pahlevi 23/11/2021 13:00 WIB

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According to CB Insights data, Grab remains the most valuable unicorn in ASEAN. The company, which plans an IPO, was valued at US$14.3 billion as of September 30, 2021.

ASEAN Unicorn Valuations (September 2021)

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ASEAN Unicorn Valuations (September 2021)

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According to CB Insights data, Grab remains the highest-valued unicorn in ASEAN. The company, which plans an IPO, had a valuation of US$14.3 billion as of September 30, 2021.

Indonesia's logistics company, J&T Express, is in second place with a valuation of US$7.8 billion. J&T's investors include Hillhouse Capital Management, Boyu Capital, and Sequoia Capital China.

HyalRoute, a Singaporean telecommunications company, ranks third with a valuation of US$3.5 billion. HyalRoute officially became a unicorn (a startup valued at over US$1 billion) in 2017.

Two Indonesian companies occupy the fourth and fifth positions. Traveloka has a valuation of US$3 billion in fourth place, and Ovo is valued at US$2.9 billion in fifth place.

CB Insights notes that Southeast Asian unicorns primarily originate from Singapore, Indonesia, Malaysia, and the Philippines. Meanwhile, the United States and China remain the countries with the largest number of unicorns globally.

(read: Indonesia Now Has 8 Unicorns, Here's the List)

Editor : Annissa Mutia

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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