Southeast Asia's Superapps Finally Made Money. Do Not Copy How.
Three of the biggest companies this region has ever produced just did something they had never done before. They made money.
Sea, the Singapore company behind Shopee and Garena, posted a net profit of 487 million US dollars in a single quarter, on 7.8 billion dollars of revenue. GoTo, the Indonesian giant behind Gojek and Tokopedia, booked its second profitable quarter in a row. And Grab, maybe my most hated company in Southeast Asia but the ride hailing app none of us can avoid, is now profitable for a full year and buying back its own stock.
If you are a founder, the obvious temptation is…
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