Category Archives: Payments

Stripe in Singapore

Wrote about this yesterday :: https://seedvc.blog/2018/09/27/stripe-to-open-singapore-hub-following-245m-fundraise/

Saw this on LinkedIn today :: https://www.linkedin.com/feed/update/urn:li:activity:6451084223817310208

1) Stripe’s fourth global engineering hub will be in Singapore

2) This hub will build completely new products, and further develop the underlying infrastructure powering Stripe

3) 200 million Southeast Asians will come online in the next two years

Gotta love those SEA stats but what really interests me is #2. New products.

People have been chatting about PayPal and Stripe competing but that has been going on for a while. What is more striking for me is where is Square when it comes to Asia? As of today – completely non-existent.

Advertisements

Stripe to open Singapore hub following $245m fundraise

Stripe to open Singapore hub following $245m fundraise

From the Stripe Blog :: https://stripe.com/blog/singapore-eng-office

If this doesn’t put Singapore on the map in the global tech arena – then not much will.

Stripe is huge and they have chosen Singapore as an engineering hub.

This continues my hypothesis of why Singapore has already won the hub if SEA region and has vaulted past Hong Kong.

Why? Look at all the global companies with their hubs here and more and more will come and probably do more engineering than just sales and marketing.

Singapore is safe, fair, family friendly and the government is pro tech.

This also helps bolster one the trends I am have been trading on – the TTS. Trailing Tech Spouse.

Companies like Google, FB, AirBnB and now Stripe – move executives to Singapore and with them comes their spouse who often is also in tech. Thus bringing more experiences talent to the region but primarily Singapore.

Super exciting.

Also:

Terra gets $32 million to build the future of money with blockchain | VentureBeat

CRA CRA

Looks like there are, or will be, some more Crazy Rich Asians in Singapore. Terra has raised $32 million to fuel its vision of creating Project Terra, the next generation of digital money, based on blockchain and cryptocurrency technology.

— Read on venturebeat.com/2018/08/29/terra-raises-32-million-to-build-the-future-of-money-with-blockchain/

Go-Jek buys three startups to advance its mobile payment business | TechCrunch

Will be interesting to see where this all goes. Payments is a mostly a low margin business so this isn’t about making money but more about making it easier to pay for things. 

Things being not just rides but I am still wondering if this is the playbook for domination or not.

I am still more interested in them getting into other countries and seeing if they can take all this stuff across countries or not.

Go-Jek buys three startups to advance its mobile payment business | TechCrunch:

Finally met up with Josh

I didn’t get to attend the TIA conference but was able to catch up with lots of folks who were in town and went to a nice event by Sequoia.

Say what you will about our current times but Singapore is absolutely hopping right now and is the center of the startup universe for SEA region and India. Love it. So fortunate to be here at this time.

I have many Twitter friends that I sometimes get to meet and Josh would be one of those. We finally got to hang out and chat a bit.

As a writer, he of course decided to spring this on the Internet after we chatted.

Good stuff. As I always tell people – OTT in emerging markets is really just kicking off and has a long ways to go. I wouldn’t profess to know where it all might land, but it’s a crazy hot space regardless.

One comment – that last little quote by iFlix – we all know 1 million is just registered users. Paying subs will be some marginal single digit percentage point of that total number. As I always say – release real stats or none at all.

Good chatting with you Josh – I guess we will keep up the Twitter DM dialogue going till we meet again.