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Startups: these Asian “unicorns” worth over one billion dollars

Young companies are making a fortune off transportation and accommodation


Ola Cabs, Grab Taxu, and TuJia, three Asian transportation and accommodation startups are valued at more than one billion dollars, making them unicorns. TuJia, specialized in apartment rentals is now looking to develop in France.



Asian startups valued at one million dollars are named “unicorns”. © Serg Nvns - Fotolia.com
Asian startups valued at one million dollars are named “unicorns”. © Serg Nvns - Fotolia.com
Asian touristic startups have no reason to envy their American counterparts.

Three of them have just been valued at more than one billion dollars (886 million euros.)

A symbolic turning-point that transforms them into “unicorns,” a surname given to the young tech companies that have reached a gigantic size in record time.

The first two, Ola Cabs and Grab Taxi, developed around the same model as Uber.

Grab Taxi was launched in Malaysia in 2011 before extending to five other countries of South-East Asia: Thailand, Singapore, Vietnam, Indonesia, and Philippines.

It has just finished a fundraiser of $350 million which gives it a value of $1.8 billion.

The company counts 110,000 drivers today who respond to 11 orders every second.

Its application, downloaded 6.1 million times, enables to order cars with drivers but also moto taxis in Vietnam.

Ola Cabs, a serious competitor to Uber

Ola Cabs is a startup with a similar model that operates in India since 2010. It holds a network of 200,000 cars in 85 cities.

In manages 150,000 reservations daily and represents 60% of the market shares in its country.

After a new fundraiser of $400 million last April, it is now valued at $2.4 billion.

It is a serious competitor to Uber that hopes to conquer the Indian market today.

The American company, now valued at 50 billion dollars hopes to cross the $1 billion mark in Indian within the next 9 months thanks to the support of Tata Capital, the financial arm of the Indian conglomerate.

The Chinese Airbnb wants to develop in France

Finally, the last startup to become a unicorn is TuJia, the Chinese Airbnb.

Created 4 years ago, the company ended a fundraiser of $300 million last August.

With over 300,000 properties offered on 251 national destinations, it is China’s biggest vacation rental website.

Its catalogue also has 134 destinations all over Asia and could add Paris to that list very soon.

Written by Laury-Anne CHOLEZ translated by Joséphine Foucher the 31/08/2015
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1.Posté par 7mcar le 05/10/2015 07:48 | Alerter
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Great post about ola cab



thanks

2.Posté par rajesh varma le 31/03/2016 09:12 | Alerter
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3.Posté par Rajesh Singh le 15/11/2016 19:12 | Alerter
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Nice Information

4.Posté par Amit Thakre le 23/12/2016 08:16 | Alerter
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Its great achivement for Asian entrepreneur. Congrates .

5.Posté par preeti le 17/01/2017 09:08 | Alerter
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nice information

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