News

As Indonesia’s tech unicorns race toward their IPOs, state-owned firms are looking to cash in.

Last year online travel booking companies were reeling under an increase in ticket cancellations for both national and international travels.

The company plans to use the money to facilitate its proposed offshore restructuring and fulfill its obligations under the USD 180 million settlement with the US SEC.

Grab reportedly bought a 4% stake in Indonesia’s conglomerate Emtek, which has strategic interests in e-commerce and payments.

The company currently operates in the US cities of San Diego and Tucson.

The startup is looking to expand to other cities in Pakistan in the next few months.

In less than four months this year, 11 startups have become unicorns.

Tencent abandoned plans to acquire iQiyi due to tightened anti-monopoly regulations.