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Thailand's telecom giants hunt for the country's first 'unicorn'

Saturated mobile phone market prompts race to develop startups

A conceptual image of the True Digital Park complex being built by True Corp. in Bangkok.

BANGKOK -- While Singapore boasts ride-hailing service Grab and Indonesia has travel platform Traveloka, Thailand has yet to produce a startup valued at $1 billion or more.

Now, the country's leading telcos are racing to develop Thailand's first "unicorn."

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