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Startups

Southeast Asian unicorns' appetite for acquisitions grows

Go-Jek, Grab and Tokopedia are driving exits of regional startups

A Go-Jek logo is pictured in their office in Singapore.    © Reuters

JAKARTA -- The latest acquisitions in South and Southeast Asia - Indonesian e-commerce unicorn Tokopedia buying wedding marketplace Bridestory and Gojek doubling down on India by acquiring recruitment platform AirCTO - highlight how unicorns have emerged as the biggest drivers of exits in the region.

On Monday, Singapore’s Trax announced the acquisition of US-based rewards app Shopkick, reaffirming the buyout appetite of the region's unicorns as they seek faster growth.

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