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Niko Partners: Esports generated $519 million in Asia in 2019, growth continues in pandemic


Esports generated $519 million in revenue in 2019 in Asia, making it the No. 1 region in the world for such revenue, according to a report by market researcher Niko Partners. The growth continues in 2020 despite the pandemic, though Niko does not have a specific forecast for this year.

Overall, Niko found that Asia generated nearly half of all global esports revenue in 2019, hosting big events like Riot Games’ League of Legends Championships. Niko said that there are 510 million esports fans (defined as those who watch at least once a month) in Asia, with 595 million esports players. Mobile esports games in Asia generated $13.3 billion in 2019, 68% of global mobile esports games revenue. Read More

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TechCrunch

Singapore-based Volopay wants to be the “Brex of Southeast Asia” – TechCrunch


Volopay founders Rajith Shaji and Rajesh Raikwar

Small- to medium-sized companies that do a lot of international business have to deal with two big headaches: high foreign exchange fees and corporate expense tracking. Volopay, a Singapore-based financial tech startup with offices in Bangalore, wants to help by integrating prepaid multi-currency corporate cards, expense tracking and accounting tools into one free-to-use platform.

Volopay is currently taking part in Y Combinator and is also part of Antler and Nium’s Bolt, two other accelerator programs. It now has about 40 clients in Singapore, mostly tech startups like Dathena, Tookitaki and Appknox, and plans to launch in Indonesia and Australia within the next six months. Read More

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TechCrunch

Uber picks new India and South Asia president – TechCrunch


Uber has named Prabhjeet Singh as the new president of its India and South Asia business, filling a role vacated weeks ago after Pradeep Parameswaran was promoted to be the regional general manager in the Asia Pacific region.

Singh, who joined the ride-hailing firm five years ago, has helped Uber manage operations in dozens of cities in India and South Asia in recent years. His new job is to oversee the next phase of growth in what Uber sees as one of its “fastest growing and most strategic markets.” Read More

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TechCrunch

Sequoia announces $1.35 billion venture and growth funds for India and Southeast Asia – TechCrunch


Sequoia Capital India on Monday announced it has secured $1.35 billion from LPs for two new funds as the storied venture firm looks to ramp up its investments in the world’s second-largest internet market and Southeast Asia.

The two new funds — a $525 million venture fund and a $825 million growth fund — will help the VC firm, which operates in India and Southeast Asia through one arm, more comprehensively serve the startup ecosystem in the region, said Shailendra Singh, a managing director at Sequoia Capital India. Read More