{"id":73,"date":"2021-04-14T00:00:00","date_gmt":"2021-04-14T00:00:00","guid":{"rendered":"https:\/\/markupbackup.wordpress.com\/2021\/07\/21\/durians-daily-233-fave-acquired-by-pine-labs-for-us45m-grab-to-list-in-us-in-record-us40b\/"},"modified":"2021-08-03T08:56:39","modified_gmt":"2021-08-03T08:56:39","slug":"durians-daily-233-fave-acquired-by-pine-labs-for-us45m-grab-to-list-in-us-in-record-us40b","status":"publish","type":"post","link":"https:\/\/dailymarkup.com\/?p=73","title":{"rendered":"Daily Markup #233: Fave acquired by Pine Labs for US$45m; Grab to list in US in record US$40b SPAC deal; StoreHub on the cookieless monster of 2022"},"content":{"rendered":"<figure class=\"wp-caption\"><img decoding=\"async\" data-width=\"1600\" data-height=\"1067\" src=\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/img_60f7dafa3d7ed.jpg\"><figcaption class=\"wp-caption-text\">Credit: The Business\u00a0Times<\/figcaption><\/figure>\n<p><strong>Paving the way to Asia<\/strong><\/p>\n<ul>\n<li>500-backed fintech startup <a href=\"https:\/\/myfave.com\/\" target=\"_blank\" rel=\"noopener\">Fave<\/a> has been acquired by Indian merchant platform Pine Labs <a href=\"https:\/\/techcrunch.com\/2021\/04\/13\/pine-labs-acquires-southeast-asian-startup-fave-for-45-million\/\" target=\"_blank\" rel=\"noopener\">in a US$45 million deal<\/a>. Both companies noted that the acquisition will help them accelerate their growth in the Asia region.<\/li>\n<li>The combined team is working to bring Fave\u2019s offering to customers in 3,700 Indian cities, which, according to TechCrunch, is one of the rare times when a Southeast Asian startup is launching its offering in India.<\/li>\n<li>Fave\u2019s leadership will continue working at the startup. Co-founder and CEO of Fave Joel Neoh added that it plans to hire an additional 100 employees and launch a buy now, pay later product in the next one to two months.<\/li>\n<li>Read the full article on TechCrunch <a href=\"https:\/\/techcrunch.com\/2021\/04\/13\/pine-labs-acquires-southeast-asian-startup-fave-for-45-million\/\" target=\"_blank\" rel=\"noopener\">here<\/a>.<\/li>\n<\/ul>\n<figure class=\"wp-caption\"><img decoding=\"async\" data-width=\"1000\" data-height=\"500\" src=\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/img_60f7dafa8b558.jpg\"><figcaption class=\"wp-caption-text\">Credit: Business\u00a0Insider<\/figcaption><\/figure>\n<p><strong>Supercharging the super app<\/strong><\/p>\n<ul>\n<li>500-backed super app <a href=\"https:\/\/www.grab.com\/\" target=\"_blank\" rel=\"noopener\">Grab<\/a> announced it plans to <a href=\"https:\/\/www.grab.com\/sg\/press\/others\/grab-go-public-in-partnership-with-altimeter\/\" target=\"_blank\" rel=\"noopener\">go public in the United States<\/a>, facilitated by a partnership with Altimeter Growth, a special purpose acquisition company. This is expected to be the largest-ever U.S. equity offering by a Southeast Asian company.<\/li>\n<li>According to Grab, it will also receive about US$4.5 billion in cash as part of the deal to continue expanding its business.<\/li>\n<li>Co-founder and group CEO Anthony Tan said, \u201cAltimeter is investing in a way that demonstrates our aligned values, with a three-year lock-up on their sponsor promote shares and unprecedented contribution of shares to our new GrabForGood endowment fund\u2026 This is testament to the global investment community\u2019s belief in the long-term value proposition of Grab\u2019s superapp strategy and the exciting growth potential of Southeast Asia.\u201d<\/li>\n<li>Read the full announcement on Grab <a href=\"https:\/\/www.grab.com\/sg\/press\/others\/grab-go-public-in-partnership-with-altimeter\/\" target=\"_blank\" rel=\"noopener\">here<\/a>.<\/li>\n<\/ul>\n<figure class=\"wp-caption\"><img decoding=\"async\" data-width=\"1600\" data-height=\"1086\" src=\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/img_60f7dafade93a.jpg\"><figcaption class=\"wp-caption-text\">Credit: StoreHub<\/figcaption><\/figure>\n<p><strong>A cookieless monster<\/strong><\/p>\n<ul>\n<li>By January 2022, Google will have <a href=\"https:\/\/www.vox.com\/recode\/2021\/3\/3\/22311460\/google-cookie-ban-search-ads-tracking\" target=\"_blank\" rel=\"noopener\">phased out third-party cookies<\/a> in its Chrome browser. This means ad companies and businesses that rely on cookies to target consumers will have to find an alternative solution.<\/li>\n<li>Xin-Ci Chin, head of marketing for <a href=\"https:\/\/www.storehub.com\/\" target=\"_blank\" rel=\"noopener\">StoreHub<\/a>, a tablet-based point of sale (POS) system startup said the biggest losers from third-party deprecation would likely be SMEs, especially the smaller enterprises, which are not in the habit of owning or even collecting first-party data.<\/li>\n<li>On <a href=\"https:\/\/www.marketing-interactive.com\/analysis-how-smes-are-strapping-up-for-a-cookie-less-world\" target=\"_blank\" rel=\"noopener\">how the startup is managing its user base of over 13,000 companies<\/a> across Southeast Asia, Xin-Ci shared, \u201cWe are mostly preparing our customers for the cookie-less world in a variety of ways, such as making it easier for them to collect their customers\u2019 information using technology, from store-enabled cashback and QR ordering to online ordering.\u201d<\/li>\n<\/ul>\n<hr>\n<p><strong>Missed out the last Daily Markup? Go <\/strong><a href=\"https:\/\/dailymarkup.com\/\" target=\"_blank\" rel=\"noopener\"><strong>here<\/strong><\/a><strong> to check it out.<\/strong><\/p>\n<p><strong>You can also find us on <\/strong><a href=\"https:\/\/www.linkedin.com\/company\/500-durians\/\" target=\"_blank\" rel=\"noopener\"><strong>LinkedIn<\/strong><\/a><strong>, <\/strong><a href=\"https:\/\/www.facebook.com\/500durians\/\" target=\"_blank\" rel=\"noopener\"><strong>Facebook<\/strong><\/a><strong>, <\/strong><a href=\"https:\/\/twitter.com\/500Startups_SEA\" target=\"_blank\" rel=\"noopener\"><strong>Twitter<\/strong><\/a><strong>, and <\/strong><a href=\"https:\/\/www.instagram.com\/500durians\/?hl=en\" target=\"_blank\" rel=\"noopener\"><strong>Instagram<\/strong><\/a><strong>.<\/strong><\/p>\n<figure><img decoding=\"async\" data-width=\"400\" data-height=\"400\" src=\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/img_60f7dafb36178.jpg\"><\/figure>\n<p>500 Startups is a venture capital firm on a mission to discover and back the world\u2019s most talented entrepreneurs, help them create successful companies at scale, and build thriving global ecosystems. In Southeast Asia, 500 Startups invests through the pioneering 500 Southeast Asia family of funds. The 500 Southeast Asia funds have backed over 240 companies across multiple sectors from internet to consumer to deep technology. It continues to connect founders with capital, expertise and powerful regional and global networks to help them succeed.<\/p>\n<p><em>This post is intended solely for general informational or educational purposes only. 500 Startups Management Company, L.L.C. and its affiliates (collectively \u201c500 Startups\u201d) makes no representation as to the accuracy or information in this post and while reasonable steps have been taken to ensure that the information herein is accurate and up-to-date, no liability can be accepted for any error or omissions. All third party links in this post have not been independently verified by 500 Startups and the inclusion of such links should not be interpreted as an endorsement or confirmation of the content within. Information about portfolio companies\u2019 markets, competitors, performance, and fundraising has been provided by those companies\u2019 founders and has not been independently verified. Under no circumstances should any content in this post be construed as investment, legal, tax or accounting advice by 500 Startups, or an offer to provide any investment advisory service with regard to securities by 500 Startups. No content or information in this post should be construed as an offer to sell or solicitation of interest to purchase any securities advised by 500 Startups. Prospective investors considering an investment into any 500 Startups fund should not consider or construe this content as fund marketing material. The views expressed herein are as at the date of this post and are subject to change without notice. One or more 500 Startups fund may have a financial interest in one or more of the companies discussed.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Credit: The Business\u00a0Times Paving the way to Asia 500-backed fintech startup Fave has been acquired by Indian merchant platform Pine Labs in a US$45 million deal. Both companies noted that the acquisition will help them accelerate their growth in the Asia region. The combined team is working to bring Fave\u2019s offering to customers in 3,700 [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":2031,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","footnotes":""},"categories":[322,324],"tags":[338,143,396],"class_list":["post-73","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily","category-featured","tag-fave","tag-grab","tag-storehub"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Daily Markup #233: Fave acquired by Pine Labs for US$45m; Grab to list in US in record US$40b SPAC deal; StoreHub on the cookieless monster of 2022 - Markup<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dailymarkup.com\/?p=73\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Daily Markup #233: Fave acquired by Pine Labs for US$45m; Grab to list in US in record US$40b SPAC deal; StoreHub on the cookieless monster of 2022 - Markup\" \/>\n<meta property=\"og:description\" content=\"Credit: The Business\u00a0Times Paving the way to Asia 500-backed fintech startup Fave has been acquired by Indian merchant platform Pine Labs in a US$45 million deal. 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The combined team is working to bring Fave\u2019s offering to customers in 3,700 [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/dailymarkup.com\/?p=73\" \/>\n<meta property=\"og:site_name\" content=\"Markup\" \/>\n<meta property=\"article:publisher\" content=\"http:\/\/facebook.com\/500southeastasia\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-14T00:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-08-03T08:56:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/04laQf-6_wClRq-vK.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"700\" \/>\n\t<meta property=\"og:image:height\" content=\"466\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Felicia Chia\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/dailymarkup.com\/#website\",\"url\":\"https:\/\/dailymarkup.com\/\",\"name\":\"Markup\",\"description\":\"Serving bite-sized news on 500 Southeast Asia&#039;s portfolio companies and insights to fuel your momentum in life and business.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/dailymarkup.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/dailymarkup.com\/?p=73#primaryimage\",\"url\":\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/04laQf-6_wClRq-vK.jpeg\",\"contentUrl\":\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/04laQf-6_wClRq-vK.jpeg\",\"width\":700,\"height\":466},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/dailymarkup.com\/?p=73#webpage\",\"url\":\"https:\/\/dailymarkup.com\/?p=73\",\"name\":\"Daily Markup #233: Fave acquired by Pine Labs for US$45m; Grab to list in US in record US$40b SPAC deal; StoreHub on the cookieless monster of 2022 - Markup\",\"isPartOf\":{\"@id\":\"https:\/\/dailymarkup.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/dailymarkup.com\/?p=73#primaryimage\"},\"datePublished\":\"2021-04-14T00:00:00+00:00\",\"dateModified\":\"2021-08-03T08:56:39+00:00\",\"author\":{\"@id\":\"https:\/\/dailymarkup.com\/#\/schema\/person\/9500d05faff850f12de850d9051b7b67\"},\"breadcrumb\":{\"@id\":\"https:\/\/dailymarkup.com\/?p=73#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/dailymarkup.com\/?p=73\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/dailymarkup.com\/?p=73#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/dailymarkup.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Daily Markup #233: Fave acquired by Pine Labs for US$45m; Grab to list in US in record US$40b SPAC deal; StoreHub on the cookieless monster of 2022\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/dailymarkup.com\/#\/schema\/person\/9500d05faff850f12de850d9051b7b67\",\"name\":\"Felicia Chia\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/dailymarkup.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/b574d076fbdac43064ec75a7d589d309319c819283cc558025e0ef88192ee849?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/b574d076fbdac43064ec75a7d589d309319c819283cc558025e0ef88192ee849?s=96&d=mm&r=g\",\"caption\":\"Felicia Chia\"},\"url\":\"https:\/\/dailymarkup.com\/?author=7\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Daily Markup #233: Fave acquired by Pine Labs for US$45m; Grab to list in US in record US$40b SPAC deal; StoreHub on the cookieless monster of 2022 - Markup","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/dailymarkup.com\/?p=73","og_locale":"en_US","og_type":"article","og_title":"Daily Markup #233: Fave acquired by Pine Labs for US$45m; Grab to list in US in record US$40b SPAC deal; StoreHub on the cookieless monster of 2022 - Markup","og_description":"Credit: The Business\u00a0Times Paving the way to Asia 500-backed fintech startup Fave has been acquired by Indian merchant platform Pine Labs in a US$45 million deal. 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