This startup wants to build the Tencent of Bangladesh

More: Grab invests in payments and 99 Group makes an acquisition [Read from your browser]( Daily Newsletter Hello {NAME} Your 11.11 exclusive starts now: “A Bangladeshi startup is aiming to become the next Tencent, and it has found opportunities in the messaging, payments, news, and other verticals in the country.” Up to 20% of the article is already within this newsletter. Free delivery to your inbox! So we decided to try our hands on a Singles Day’s ad copy. Not feeling it? Don’t worry, it’s back to regular programming below. Today we look at: - The little-known Bangladeshi startup that’s [building a super app]( - Southeast Asia’s economic growth despite the pandemic - Other newsy highlights, such as Grab’s investment into payments and 99 Group’s latest acquisition  ---------------------------------------------------------------  PREMIUM SUMMARY  The Tencent of Bangladesh? Data Bird, an internet startup based in Dhaka, is aiming high to build a super app. While most people may not have heard of the company before, Data Bird is certainly not small: It already has millions of users under its wings. - 22 million: That’s the number of monthly active users who are using Data Bird’s first and flagship app Ridmik Keyboard. On average, the Bengali-language tool has been among the top 10 apps in the country on the Google Play Store to date. - US$1.2 million: That’s the volume of gross bookings made on online travel agency ShareTrip in September. Also operated by Data Bird, ShareTrip claims to have captured 80% of the total business-to-consumer online market share in the country. - That’s not all: Other products by Data Bird include a news aggregator app, a Bengali e-book reader, and a dating app. It is also planning to launch a messenger app that will incorporate various services including a digital content feed, local news, and financial services. Dive deeper into all of this startup’s verticals and its plan to win the markets: [This Bangladeshi startup wants to be the Tencent of the country](  ---------------------------------------------------------------  NEWS SPOTLIGHT Against all odds, Southeast Asia’s internet economy grew This year has kept many startups and investors on their toes, but Southeast Asia’s internet economy is still set to grow to US$105 billion by the end of 2020. That’s an increase of 5% from US$100 billion last year, according to [the e-Conomy SEA 2020 report]( by Google, Temasek, and Bain & Company. - You belong online: The increase is mostly attributed to the rise of online users in the region. Around 400 million people - that’s 70% of Southeast Asia’s population - are now online, jumping by 40 million since 2019. - The biggest winners go to online education (55%), groceries (47%), and lending (44%) services, which benefited the most from this influx of new digital consumers. - The other winners: The ecommerce space saw a massive 63% growth, with its value soaring to US$62 billion this year from US$38 billion in 2019. Online media has also grown by 22% to be valued at US$17 billion this year from US$14 billion last year.  ---------------------------------------------------------------  QUICK BYTES  1️⃣ Grab goes deeper into payment services The ride-hailing giant has recently led a series B round of up to [$100 million]( in Indonesian fintech startup LinkAja. Launched last year, LinkAja provides e-payment services to the middle-class segment and the micro, small, and medium enterprises in Indonesia, and currently has more than 58 million registered users.  2️⃣ 99 Group makes an acquisition The Southeast Asian property startup, which operates 99.co, iProperty Singapore, and Rumah 123, [has acquired]( Singapore Real Estate Exchange (SRX), a property platform and real estate data provider in Singapore. One of SRX’s products is an AI algorithm that provides an instant estimate of a property’s value.  3️⃣ SoftBank plans to sell robot maker The Japanese conglomerate is [in talks to sell]( American robotics company Boston Dynamics to Hyundai Motor in a deal that’s valued at as much as US$1 billion. The company was acquired by SoftBank from Google owner Alphabet in 2017 for an undisclosed sum.  4️⃣ Baidu combines edtech and social networking The Chinese tech giant has [launched]( a new skill-learning social networking app called Youpu. The platform helps users learn new skills through mutual supervision online.  5️⃣ The Philippines is streaming The Gobi-Core Philippine Fund - co-launched by Asian VC firm Gobi Ventures and Philippine early-stage VC firm Core Capital - has added local livestreaming platform [Kumu to their portfolio](. Founded in 2018, Kumu claims that its user base has surpassed 5 million by October.  6️⃣ Insurance on turbo Hong Kong-based insurtech startup Coherent has [raised US$14 million]( in a series A round led by global VC fund Cathay Innovation. The company’s digital platforms aim to help global insurers develop products faster, drive sales, and engage more with their clients. According to Coherent, the firm is already profitable and on track to grow 4x in revenue by the end of the year.  ---------------------------------------------------------------  TWEET OF THE WEEK Share your favorite tech quote or meme by tweeting us @techinasia!  ---------------------------------------------------------------  EVENTS HAPPENING - 2021 and Beyond: A Digital Transformation Action Plan for SMEs on Thursday, November 12 The pandemic has been tough on small and medium-sized enterprises. How can these companies future-proof their businesses for the post-pandemic economy in 2021 and beyond? Learn how the SME community can accelerate its digital transformation and thrive on its road to recovery in [this webinar](. - Trendspotting in Fashion Tech on November 16 Fashion and tech are becoming increasingly intertwined. [Find out]( how leading brands are using technology in their retail and experience strategy, from UI personalization to livestreaming to ecommerce to virtual runway shows. - Singapore Tech Forum from November 17 to 20 Singapore's tech ecosystem is booming, and we're peeling back the curtain to give you unfiltered insights from the region's top tech leaders and talent. Co-organized by the Singapore Global Network and GovTech Singapore, you can't miss Singapore Tech Forum 2020! Seats are limited, [register for free now](. - APAC AI Conclave from November 25 to 26 It’s official, we’re holding a conference for the AI/ML leaders and practitioners around the region. So whether you’re in the early exploration phase or a super-user, [join us]( and upgrade your AI/ML game for free!  ---------------------------------------------------------------  WHO'S HIRING - [Full-Stack Web Developer]( at Funded.jobs (Singapore, Singapore) - [Database Administrator]( at DataOn Corp (Banten, Indonesia) - [Sales Online dan Offline]( at PT. YUKK Kreasi Indonesia (Tangerang, Indonesia)  ---------------------------------------------------------------  SHARE WITH YOUR FRIEND Earn rewards like TIA stickers and access to our Southeast Asia's Golden Age premium report when you [refer]( your friends to join us! [ADVERTISE]( | [PREMIUM]( | [JOBS]( P.S. Don't miss out on the biggest tech news and analysis. Add newsletter@techinasia.com to your address book, contacts, or safe sender list. Or simply move us into your inbox. Was this forwarded to you? You can read this everyday when you sign up [here](. [Drop us a feedback]( if you enjoyed today's newsletter (or if you didn't). Don't want to receive these emails anymore? [Unsubscribe](.  ---------------------------------------------------------------  Tech in Asia’s newsletters are handcrafted daily with love - and sometimes powered by good kopi. Today’s edition is written by Betty Chum, with contributions from Melissa Goh and Doris Yu. It’s edited by September Grace Mahino. Copyright © 2020 Tech in Asia, All rights reserved. 51 Bras Basah Rd, #05-5061, Singapore 189554