For south-east Asia’s so-called superapps and their investors, life is suddenly looking a lot less super.
Singapore-based Grab and Indonesia’s GoTo spent much of the past decade in a dash to bundle consumer services from ride hailing to food delivery into a single app. Global investors pumped in money, betting on strong growth from the region’s tech-savvy consumers in the wake of China’s experience with superapps and a boost from pandemic-inspired demand for digital services.
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