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mckessonconnect On the first day of the MCO, StoreHub saw an 85% revenue drop across its F&B clients, with over 90% of businesses doing zero sales. StoreHub’s Beep Delivery now has over 500 restaurants across Malaysia on its platform. The reason that StoreHub is able to charge only 2% of the processing fee is simple. It … Read more
“Prior to MCO, we signed up with GrabFood because they have a huge database that we can tap into and we didn’t have a huge social media following to begin with. But in the long run and in times like this, it eats significantly into our margin,” he said. Not all restaurateurs are against the … Read more
A pandemic that forces people to stay home looks like a godsend gift to the food delivery industry. But it may fundamentally alter the power balance between restaurants and food delivery platforms in Malaysia, and even Southeast Asia. Before Covid-19—when dine-in was the main income source for restaurateurs—commission rates were viewed as a “marketing fee” … Read more
KKR declined to take part in this story but it did confirm that it is “looking at the opportunities” in Southeast Asia. Contrary to what we see in deal terms, these private equity firms are scouting for opportunities far earlier than when startups seek Series C investments. TPG Capital, KKR and others are seeking out … Read more
A second EV Growth fund is likely to be announced before the end of the year, a senior venture capital executive aware of the plan told us anonymously because they did not want to be seen discussing another firm’s business. East Ventures declined to comment on its plans for EV Growth. The firm has been … Read more
Instead, it aims to fill the gap with its own identity, one that borrows heavily from its anchoring limited partner, Korean asset management firm Hanwha. A backer of Golden Gate Venture’s previous funds, Hanwha is said to have provided nearly all of the initial $80 million commitment gathered for the fund last year. Hanwha’s unusually … Read more
The number of Series C and D deals—typical growth-fund investments—rose by three deals year-on-year to hit 19 in the first half of 2019. However, the overall amount raised dropped by $100 million to $600 million. Total funding for Series B deals, meanwhile, increased by 40% over the same period. “For aspiring unicorns (startups worth $1 … Read more
While the market for medium-term stays in India isn’t as big as the long-term or short-term rental market, it is growing fast. Rakesh Kamble, founder of Rentmystay, a property management firm that offers all three types of rentals, says that the medium-term market is much more stable. A 10-20% demand is always there. “We have … Read more
Jijesh Ramachandran, founder of Iksha, the property management firm that manages Captains Quarters, says that with zero revenues, managing these properties has become a pain. Ramachandran, after all, pays for the maintenance of these luxury properties—which can be as high as Rs 50,000-Rs 60,000 ($650.07-$780.08) per month—in addition to a fixed monthly rent to the … Read more
Besides, after Covid-19 broke out, RWAs (Resident Welfare Associations) have been against allowing outsiders into apartment complexes. This stance will likely stymy even those who continue to take bookings on the platform. Airbnb’s dependence on inbound travel, say industry executives we spoke with, will also make things tougher. With this channel cut off, it must … Read more