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Slower growth and fewer perks – the new buzzwords for tech unicorns

South-east Asia’s players will need to convince investors that they can balance growth and profitability.

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Sharanya Pillai

Sharanya Pillai

Published Wed, May 17, 2023 · 05:50 AM
    • Investors have sent GoTo’s share price up more than 11 per cent since its earnings release. Its shares closed at 116 rupiah last Friday (May 12), in contrast to the bearish sentiment over the stock last year.
    • Investors have sent GoTo’s share price up more than 11 per cent since its earnings release. Its shares closed at 116 rupiah last Friday (May 12), in contrast to the bearish sentiment over the stock last year. PHOTO: BLOOMBERG

    MOVE fast, break things and enjoy the free-flow kombucha. This was once the ethos of tech unicorns, which focused on hyper growth over profitability while showering staff with generous perks.

    But South-east Asia’s listed unicorns are now endeavouring to revamp this image.

    Concepts that were once sacrilegious in the tech world, such as slower growth and sparser pantries, are now part of the new narrative as startups seek to convince investors of their long-term viability.

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