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Uber may have left Southeast Asia but its APAC HQ remains in Singapore

Uber exited Southeast Asia last year after it sold its local business to Grab but it continues to remain in Singapore, where it has now opened a new regional HQ for Asia Pacific and is hiring for staff.

The company — which is headed for IPO imminently — won’t be restarting its service, however, which puts it in a rather interesting position in Singapore.

The writing has been on the wall for some time, though. TechCrunch reported last August that Uber was on a hiring spree in Singapore, and now that has come to fruition with the opening with a new 2,000 sq meter office near the Central Business District in Singapore. That’ll function as the management center for the nine markets that Uber operates in across Asia Pacific, which include Japan, Korea and Australia. India, Uber’s second largest market, is managed separately to the rest of the continent.

Uber’s Southeast Asia sale — which saw it take a tactical 27.5 percent stake in its Singapore-based rival — gave Grab first refusal on a lot of Uber’s operational talent, but most of Uber’s core management team remained with the company in Singapore. For example, Brooks Entwistle, who was hired as chief business officer for Asia Pacific in 2017, remains stationed there as Uber’s international chief business officer.

Big day for ⁦@Uber⁩ in Asia as we open our new APAC HQ in Singapore. Our awesome team is growing as we deepen our commitment to this city-state and its outstanding tech talent and focus. We are hiring! #Uber #UberEATS #JUMP #Onward #Asia #Singapore https://t.co/BOnOn2GblE

— Brooks Entwistle (@BrooksEntwistle) April 2, 2019

Straits Times reports that Uber’s Singapore headcount is at least 165 with some 17 vacancies open right now. As we reported last year, the company was aiming to hire at least 75 roles to take its Singapore-based team to over “well over” 100 — it seems that it did that and then some.

It’s time to disrupt nuclear weapons

Beatrice Fihn
Contributor

Beatrice Fihn is the executive director of the International Campaign to Abolish Nuclear Weapons and the winner of the 2017 Nobel Peace Prize.

“Atomic bombs are primarily a means for the ruthless annihilation of cities.”

Those are the words of Leo Szilard, one of the scientists who pushed for the development of nuclear weapons. He wrote them as part of a petition signed by dozens of other scientists who had worked on the Manhattan Project pleading with President Harry Truman not to use the nuclear bomb on Japan.

Mere months after its introduction in 1945, the architects of today’s nuclear world feared the implications of the technology they had created.

Nearly 75 years later it’s time again to ask technologists, innovators, entrepreneurs and academics: will you be party to the ‘ruthless annihilation of cities’? Will you expend your talents in the service of nuclear weapons? Will you use technology to create or to destroy?

Our moment of choice

Humanity is at another turning point.

A new nuclear arms race has begun in earnest with the US and Russia leading the way; tearing up the promise of lasting peace in favor of a new Cold War. Russia’s latest weapon is built to destroy entire coast lines with a radioactive tsunami. The US is building new nuclear weapons that are ‘more likely to be used’.

Meanwhile, North Korea appears to again be building its nascent nuclear weapons program. And India and Pakistan stand on the verge of open nuclear conflict, which climate modeling shows could lead to a global famine killing upwards of 2 billion people.

An Indian student wearing a mask poses with her hands painted with a slogans for peace during a rally to mark Hiroshima Day, in Mumbai on August 6, 2018. (PUNIT PARANJPE/AFP/Getty Images)

How do we stop this march toward oblivion?

The Treaty on the Prohibition of Nuclear Weapons has created an opening — a chance to radically change course with the power of international law and shifting norms. The nuclear ban treaty will become international law once 50 nations have ratified it. We are already at 22.

The financial world is also recognizing the risk, with some of the world’s biggest pension funds divesting from nuclear weapons. But there is something even more powerful than the almighty dollar; human capital.

“It took innovation, technological disruption, and ingenuity to create the nuclear dawn. We will need those same forces in greater measure to bring about a nuclear dusk.”

The nuclear weapons industrial complex relies on the most talented scientists, engineers, physicists and technologists to build this deadly arsenal. As more of that talent moves into the tech sector, defense contractors and the Pentagon is seeking to work with major technology companies and disruptive startups, as well as continue their work with universities.

Without those talented technologists, there would be no new nuclear arms race. It’s time to divest human capital from nuclear weapons.

A mistake to end humanity?

Just over one year ago Hawaiians took cover and frantically Googled, “What to do during a nuclear attack”. Days later many Japanese mobile phone users also received a false alert for an inbound nuclear missile.

The combination of human error and technological flaws these incidents exposed makes accidental nuclear attacks an inevitability if we don’t move to end nuclear weapons before they end us.

The development of new machine learning technologies, autonomous weapons systems, cyber threats and social media manipulation are already destabilizing the global political order and potentially increasing the risk of a nuclear cataclysm. That is why it’s vital that the technology community collectively commits to using their skills and knowledge to protect us from nuclear eradication by joining the effort for global nuclear abolition.

A mock “killer robot” is pictured in central London on April 23, 2013 during the launching of the Campaign to Stop “Killer Robots,” which calls for the ban of lethal robot weapons that would be able to select and attack targets without any human intervention. The Campaign to Stop Killer Robots calls for a pre-emptive and comprehensive ban on the development, production, and use of fully autonomous weapons. (Photo: CARL COURT/AFP/Getty Images)

We need to stop this foolish nuclear escalation in its tracks. Our commitment must be to a nuclear weapons-free world, by disrupting the trajectory we are currently heading on. Business as usual will likely end in nuclear war.

It took innovation, technological disruption, and ingenuity to create the nuclear dawn. We will need those same forces in greater measure to bring about a nuclear dusk — the complete disarmament of nuclear-armed states and safeguards against future proliferation.

The belief that we can keep doing what we have done for seven decades for another seven decades is naive. It relies on a fanciful, misplaced faith in the illogical idea of deterrence. We are told simultaneously that nuclear weapons keep the world safe, by never being used. They bestow power, but only make certain states powerful.

This fallacy has been exposed by this moment in time. Thirty years after the end of the Cold War, nuclear weapons have proliferated. Key treaties have been torn up or are under threat. And even more states are threatening to develop nuclear weapons.

So I am putting out a call to you: join us with this necessary disruption; declare that you will not have a hand in our demise; declare that you will use technology for good.

Go-Jek’s Get app officially launches in Thailand as Southeast Asia expansion continues

Go-Jek is extending its reach in Southeast Asia after its Thailand-based unit made its official launch, which included the addition of a new food delivery service.

Get, which is the name for Go-Jek business in Thailand, started out last year offering motorbike taxi on-demand services to a limited part of Thai capital city Bangkok, now the company said it has expanded the bikes across the city and added food and delivery options. Get’s management team is composed of former Uber staffers while CEO Pinya Nittayakasetwat was recruited from chat app Line’s food delivery business.

Over the last two months, Get claims to have completed two million trips in the past two months. There’s no word on when Get will add four-wheeled transport options, however. On the food side, Get is claiming to have 20,000 merchants on its platform but there are some issues. Rumming through the app, I found a number of listed restaurants that didn’t include menus. In those instances, customers have to input their dish and price which makes it pretty hard to use.

Go-Jek’s Get app in Thailand doesn’t include menus for a number of restaurants, making it nearly impossible to order

Grab is the dominant player in Thailand, where it offers taxis, private cars, motorbikes, delivery and food across eight markets in Southeast Asia. Go-Jek rose to success in its native Indonesia, where it began offering motorbikes on demand but has expanded to cover taxi, cars, food, general services on-demand and fintech. Its investors include Google, Tencent, Meituan and Sequoia India.

That’s the same playbook Grab is using, but Go-Jek is taking its time with its market expansions. Thailand represents its third new market beyond Indonesia, following launches in Vietnam and Singapore. The Philippines is another market where Go-Jek has voiced a desire to be present — it has even made an acquisition there — but regulatory issues are holding up a launch.

Regional expansion doesn’t come cheap and Go-Jek is in the midst of raising $2 billion to finance these moves. It recently closed $1 billion from existing investors, and Deal Street Asia reports that it could raise as much as $3 billion for the entire Series F round. That’s likely in response to Grab’s own fundraising plans. The Singapore-based company closed $2 billion last year, but it is looking to increase that total to $5 billion with a major injection from SoftBank’s Vision Fund a key piece of that puzzle.

Singapore’s Credit Culture raises $29.5M for its soon-to-launch digital loan business

Singapore’s digital fintech companies are attracting investor attention and dollars in 2019. Fresh from Singapore Life — a digital-only insurer — raising $33 million across two recently closed rounds, so Credit Culture, a digital loan specialist — has banked SG$40 million ($29.5 million) ahead of its imminent launch.

Credit Culture has raised its capital from Malaysia’s RCE Capital Berhad in a deal that allows the investor to potentially take a stake of up 30 percent in the startup. Its investment is via five-year bonds that are secured with the loan receivables from Credit Culture and include granted call options for taking that stake — in other words: this isn’t your regular startup deal.

RCE Capital Berhad said in a filing that Credit Culture has already raised SG$4 million ($2.9 million) via a seed investment, and it appears that it is financially set ahead of its launch.

“We are currently well-positioned with the recent injection of funds. That being said, we are always open to exploring various options to grow especially for regional expansion,” Credit Culture a representative told TechCrunch in an emailed response.

Founded by former bankers, Credit Culture is set to become one of Singapore’s first digital financial service startups after its parent company, DEY, secured approval to operate a moneylending business as part of a pilot to test online fintech services.

Since it hasn’t launched yet, there’s not a huge amount to say about the business, but its goal is to offer personal loans to Singapore-based customers using digital channels, so its website and mobile apps. The company plans to vet applicants using a mixture of existing platforms for data, including government initiative like MyInfo, and its own credit-scoring engine for creditworthiness assessment. It will also require face-to-face verification for loans to be granted, it confirmed.

Like Singapore Life and other digital-only ventures, including Hong Kong’s Bowtie, the objective is to pass on cost savings from being a purely online player — i.e. not operating branches and other physical consumer-facing outlets — and make prices fully transparent to applicants.

As you’d expect, Singapore is the initial focus for the company but it is already eying potential market expansions.

“We do have plans to expand to other Southeast Asian countries like the Philippines and Indonesia,” a spokesperson told TechCrunch. “There is a large potential given the need for personal financing and the large unbanked population segments.”