Startup businesses are gaining popularity and expanding rapidly. The startup business model uses technology, either in the form of a website or an application, to enable rapid business growth and create a large number of similar businesses.
The rapid success of startups is an inspiration for businesses hoping to become “unicorns,” or businesses with a valuation over 1 billion USD, or to become “My Little Pony,” a business with a valuation over 10 million USD.
In Asia, many businesses have emerged as unicorn startups, such as Sea Group of Singapore, which has enjoyed success by being a provider of ROV and LOL games. Others include online shopping sites such as Shopee, which was able to grow so much that it was listed on the New York Stock Exchange with a value of 6 billion USD.
A unicorn in the Philippines is Revolution Precrafted, a real estate startup that specializes in home design, while a unicorn in Indonesia is GoJek, the developer of an application for delivery and other services, with an outstanding growth rate.
In Thailand, Flash Express, which provides delivery services through an application, has the advantages of faster delivery with the use of distribution center technology from China, coupled with the e-commerce market opening. It is the first unicorn startup in Thailand; it was able to raise an amazingly high amount of funds in just three years, reaching a business value of more than 1 billion USD, or 31 billion baht. The CEO and Founder of Flash Group is Mr. Komsan Saelee, a native of Chiang Rai who at that time was 29 years old. Flash Group took only three years from stepping into business at the end of 2018 to becoming the first unicorn in Thailand. And, significantly, it is an investment by Thai investors, not foreign investors.
Unicorn startups are not only fast growing but also have a high valuation. They can therefore attract high foreign investment, which not only facilitates the expansion of the business but also increases the opportunity for global growth.
EN
CN
DE
JP
TH
