Unicorns on prowl
27 Jan 2019 6:20 PM GMT
Heavily-funded ventures need a string of big-ticket buys in overseas markets to fuel growth. China, Middle East and South East Asia are easy bets
- Swiggy acquired niche delivery firms like Scootsy and SuprDaily, OYO bought out wedding management firm Weddingz, service apartment Novascotia Boutique Homes and internet of things (IoT) platform AblePlus; and Zomato acquired drone delivery startup TechEagle Innovations and TongueStun Food, an aggregator of caterers and restaurants.
- That too, in markets like China, the Middle East, South East Asia and maybe even the developed world,” said an expert.
- Ashish Sharma, CEO, InnoVen Capital, says, “Global expansion is especially imperative in the case of business-to-business (B2B) enterprises, particularly those in enterprise tech, artificial intelligence, or robotics.
- Experts feel Unicorns such as software-as-a-service (SaaS) provider Freshworks, insurance platform PolicyBazaar, digital payments platform Paytm, budget hotel marketplace
- While Freshworks is said to evaluate expansion plans in the US and European Union, PolicyBazaar, Paytm, OYO and Ola have aggressively expanded into markets like the UAE, Japan, Canada, China, Australia, New Zealand and the UK.
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