20221028 BizSpot ASEAN tech giants img

Whether Southeast Asia's first-generation startups like Grab and Sea can meet targets and validate business models will test the region's tech ecosystem amid its first-ever market downturn. © Illustration by Hiroko Aida

From Grab to Sea, ASEAN tech confronts end of golden decade

Investors taste first market downturn as unicorn high wears off

SINGAPORE -- A 10-minute drive from the central financial district in Singapore, Grab's new nine-story headquarters that houses 3,000 employees shows how far the company has risen since its early days working from a small rental car office storeroom. "We would just grind it through," said CEO Anthony Tan at the opening of the building in August.

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