A Revolution prefabricated home on display in Paris: The Philippine company and its founder, Robbie Antonio, made headlines with its promise to deliver quick-to-assemble luxury homes. (Source photo by courtesy of Revolution Precrafted)

As the Philippines' first unicorn stumbles, can 'camels' rise?

Revolution Precrafted becomes a cautionary tale for valuation-focused startups

CLIFF VENZON, Nikkei staff writer

May 14, 2021 05:52 JST

MANILA -- Revolution Precrafted is a different kind of unicorn -- but then the startup scene in the Philippines has always been a bit different from the rest of Southeast Asia.

At a time when Singapore-based Grab Holdings and Indonesian rival Gojek were building digital empires spanning everything from ride-hailing to digital payments and more, Revolution and its founder, Robbie Antonio, were promising quick-to-build luxury homes.