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Daily Digest | Let’s get SaaSy

Written by The Uptake Published on     1 min read

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The backbone of business in India.

Hey. It’s Brady again.

Some of my colleagues know I’m allergic to the phrase “as-a-service.” Our copyeditor, Degen, occasionally ribs me about this. In some contexts, the hyphenated chain of words is abused and deployed as a bridge to invoke mental associations about convenience, modernity, and startup preparedness.

But there are plenty of cases where the label X-as-a-service makes sense, and the services might even be essential to the daily operations of enterprises. With that in mind, it’s logical that investment in India’s SaaS firms went up by 165% in 2021, reaching USD 4.5 billion.

Even so, one statistic jumped out at me: India now has 13 SaaS firms that are each worth more than USD 1 billion, compared to one in 2018. Since SaaS providers serve other businesses, this says a lot about broader developments in the country.

Moulishree unpacked this development. You can read her story here.

Daily Roundup

Kuaishou reportedly lays off 30% of mid-level staff amid sweeping crackdowns.

UNICEF technology for development manager on addressing marginalized communities’ needs.

Registration opens for the Alibaba Cloud x KrASIA Global Startup Accelerator Philippines Demo Day.

Hong Kong online platform WeLab to take control of Jakarta bank.

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