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 honestbee is Suspending Its Operations, temporarily, n might be owing money

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TSbylkw2
post Jul 18 2019, 03:08 PM, updated 7y ago

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If you’re one of the many people who use food delivery, then you’re no stranger to honestbee. The business to business company is operating in several countries including Singapore, Taiwan, Thailand, Japan, and Malaysia! Well, it turns out that they won’t be operating in our country for long as honestbee is temporarily suspending its operations. The last date is 22nd July 2019.

Jibril, a hidden restaurant residing in SS15, posted the letter above alongside with some wordy captions. We will get into that later! According to the letter above, it is stated that after discussion with its headquarters located in Singapore, honestbee has decided to temporarily suspend operations in Malaysia. With that said, you can’t get food delivery after 21st July 2019.

The letter continues stating that honestbee is not able to meet its financial commitments with their partners. In addition, the headquarters in Singapore has yet to provide a timeline for its payment. According to Jibril, honestbee has been owing to the restaurant a few thousand, a sum that been added for several months. The restaurant also mentioned that honestbee went missing for several months before sending this letter.

So, we are wondering if other restaurants and cafes are suffering from the same fate. Checking honestbee’s website, there has yet to be an announcement stating that it will be temporarily suspending its operations. It goes the same for its social media accounts. However, Jon Russell from Tech Crunch did report that honestbee is running out of money as it is burning millions of dollars per month.

If it is true, we will be finding it all by this weekend. After all, honestbee needs to make an announcement regarding its suspension. Hopefully, the food delivery company will also be returning the money owed to restaurants, and cafes – if that is the case. Did you see this coming? Let us know your thoughts in the comments. We would love to hear from you.

sos
__________________________________________________________________________________________

Honestbee Malaysia is temporarily suspending its operations from 22 July onwards, halting its food and grocery delivery service. In an email to consumers seen by A+M, honestbee said the decision was made from its headquarters in Singapore to reform the honestbee business so it can better serve consumers in the future when honestbee returns.

“We know many of you are counting on us to deliver your heavy groceries and hot food from your favourite restaurants. While we are committed to do so in the long run, we would like to give you a heads up before we leave your fridge empty,” the email said.

The email also urged consumers to place grocery orders by 19 July 2019 to guarantee a slot for delivery during the weekend. “We are sorry for any inconvenience that we might cause, but worry not, we are already working hard to be back as soon as possible,” honestbee added. A+M has reached out to honestbee Malaysia for additional information.

In May this year, honestbee Malaysia said it was not affected by the 10% regional headcount reduction, adding that the news has “little to no impact” on its operations in Malaysia and its business “remains brisk”. This came after the company halted its services in Indonesia and Hong Kong, as well as its food vertical in Thailand as part of an ongoing strategic review of the business. Its services in Japan and the Philippines were also temporarily suspended as part of the review.

Shortly after, it named Brian Koo its new CEO to replace former co-founder and CEO Joel Sng. Thereafter, honestbee also suspended food and laundry services in Singapore. Recently, the company also saw another senior exit when its vice president of marketing Christina Lim left the company after a year into the role. During her time at honestbee, she was tasked to lead the marketing team to ramp up its integrated efforts to drive brand awareness and loyalty across all its business verticals.

sos
sos 2




gg takut nak comment, later receive surat cinta (LOD)

This post has been edited by bylkw2: Jul 18 2019, 03:11 PM


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Baconateer
post Jul 18 2019, 03:09 PM

Meh..... (TM)
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post Jul 18 2019, 03:10 PM

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capsulr
post Jul 18 2019, 03:10 PM

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owe money is common in every business la
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post Jul 18 2019, 03:12 PM

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tulah

keep on burning VC money and can't find new waterfish to fund series-CDEF lmao.
TSbylkw2
post Jul 18 2019, 03:14 PM

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QUOTE(teehk_tee @ Jul 18 2019, 03:12 PM)
tulah

keep on burning VC money and can't find new waterfish to fund series-CDEF lmao.
*
grab cukur la, burning non-stop

investors keep pumping in
differ
post Jul 18 2019, 03:15 PM

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Launching Habitat was not the smartest move.
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post Jul 18 2019, 03:16 PM

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seems like most start up don't last very long lol

This post has been edited by wilsonjay: Jul 18 2019, 03:16 PM
SUSazhan82
post Jul 18 2019, 03:16 PM

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kesian.. delivery service pun tak leh hidup..
TSbylkw2
post Jul 18 2019, 03:16 PM

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QUOTE(differ @ Jul 18 2019, 03:15 PM)
Launching Habitat was not the smartest move.
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trying hard to be alibaba Hema, but look at its execution n implementation lmao
teehk_tee
post Jul 18 2019, 03:17 PM

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QUOTE(bylkw2 @ Jul 18 2019, 03:14 PM)
grab cukur la, burning non-stop

investors keep pumping in
*
got the ultimate waterfish 'softbank'

while softbank also got the ultimate ultimate waterfish - the saudis.

all just wanna 'growth at all cost' until acquired by listed unicorn.

or IPO the unicorn ala Uber/Lyft onto deadbeat retail customers in the US.

This post has been edited by teehk_tee: Jul 18 2019, 03:18 PM
theguywhowaited
post Jul 18 2019, 03:18 PM

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Entah2 grab is buying over them like what they did to uber.

see later grab also have groceries in the app.
Pichu00
post Jul 18 2019, 03:18 PM

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QUOTE(Baconateer @ Jul 18 2019, 03:09 PM)
Dishonestbee
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Last time got ppl post honest bee 6.5rm meal want sell u at 18rm...... Dishonest as fudge
thesoothsayer
post Jul 18 2019, 03:20 PM

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Strange. They giving a lot of incentives? Seems like their model was simple enough.
Spectreoutreach
post Jul 18 2019, 03:20 PM

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Just matter of time
Guenhwyvar
post Jul 18 2019, 03:24 PM

Might be on tilt. Might be, I don't care.
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Time to bungkus la, what else. laugh.gif
TSbylkw2
post Jul 18 2019, 03:25 PM

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QUOTE(Guenhwyvar @ Jul 18 2019, 03:24 PM)
Time to bungkus la, what else.  laugh.gif
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anticipate "investors" to pump money n make a comeback
SUSMPPJ
post Jul 18 2019, 03:28 PM

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No more fund in la. Wind too big recently.
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post Jul 18 2019, 03:31 PM

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QUOTE(Baconateer @ Jul 18 2019, 03:09 PM)
Dishonestbee
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rclxms.gif
SUSSaltiez
post Jul 18 2019, 03:32 PM

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Brian Koo, u know how powerful this dude's name is...google him.

This post has been edited by Saltiez: Jul 18 2019, 03:33 PM
TSbylkw2
post Jul 18 2019, 03:34 PM

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QUOTE(teehk_tee @ Jul 18 2019, 03:17 PM)
got the ultimate waterfish 'softbank'

while softbank also got the ultimate ultimate waterfish - the saudis.

all just wanna 'growth at all cost' until acquired by listed unicorn.

or IPO the unicorn ala Uber/Lyft onto deadbeat retail customers in the US.
*
dayum no wonder softbank got all the money

didnt know it is coming from saudi nikka, it explains now

got 1 more too, WeWork, anticipating to see what all gonna happen rclxms.gif
TSbylkw2
post Jul 18 2019, 03:36 PM

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QUOTE(Saltiez @ Jul 18 2019, 03:32 PM)
Brian Koo, u know how powerful this dude's name is...google him.
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sorry noob, can story abit?

he seems like a big shot
Clement1001
post Jul 18 2019, 03:37 PM

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Bee has too many soldiers and not enough honey ~
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post Jul 18 2019, 03:39 PM

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QUOTE(bylkw2 @ Jul 18 2019, 03:36 PM)
sorry noob, can story abit?

he seems like a big shot
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his family owns LG.
latipbogiba
post Jul 18 2019, 03:41 PM

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honestly bee cannot do all these work.


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post Jul 18 2019, 03:44 PM

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Who wrongly register them

Nohonestbee
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post Jul 18 2019, 03:46 PM

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post Jul 18 2019, 03:50 PM

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QUOTE(Saltiez @ Jul 18 2019, 03:39 PM)
his family owns LG.
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oh he's korean...hi name macam singaporean or malaysian
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post Jul 18 2019, 03:52 PM

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QUOTE(wilsonjay @ Jul 18 2019, 03:50 PM)
oh he's korean...hi name macam singaporean or malaysian
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me too.

Koo LG
delon85
post Jul 18 2019, 03:56 PM

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QUOTE(teehk_tee @ Jul 18 2019, 03:17 PM)
got the ultimate waterfish 'softbank'

while softbank also got the ultimate ultimate waterfish - the saudis.

all just wanna 'growth at all cost' until acquired by listed unicorn.

or IPO the unicorn ala Uber/Lyft onto deadbeat retail customers in the US.
*
How come uber still not dead?
TSbylkw2
post Jul 18 2019, 03:59 PM

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QUOTE(delon85 @ Jul 18 2019, 03:56 PM)
How come uber still not dead?
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kan dah cakap... saudi nikka pumping...
delon85
post Jul 18 2019, 04:01 PM

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QUOTE(bylkw2 @ Jul 18 2019, 03:59 PM)
kan dah cakap... saudi nikka pumping...
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Oil money is best money then
fath82
post Jul 18 2019, 04:01 PM

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Grab also still depend on vc money ka? I thought already profitable
teehk_tee
post Jul 18 2019, 04:06 PM

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QUOTE(delon85 @ Jul 18 2019, 03:56 PM)
How come uber still not dead?
*
goal achieved, big payday done. raised $8b at a $70b valuation. what happens after that is ebb and flow of the tide.
btw 6months lock-in still in effect, wait for november for the big show cool2.gif

if not why wework aim to rush their IPO?

'we're not a real estate company, we're a tech company - we just rent spaces and make them usable' kek

user posted image
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post Jul 18 2019, 04:17 PM

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QUOTE(teehk_tee @ Jul 18 2019, 04:06 PM)
goal achieved, big payday done. raised $8b at a $70b valuation. what happens after that is ebb and flow of the tide.
btw 6months lock-in still in effect, wait for november for the big show  cool2.gif

if not why wework aim to rush their IPO?

'we're not a real estate company, we're a tech company - we just rent spaces and make them usable'  kek

user posted image
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what a sizeable chunk of "other expenses" KEK
gestapo
post Jul 18 2019, 04:19 PM

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fuh Honestbee ROMPAK duit
TSbylkw2
post Jul 18 2019, 04:22 PM

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QUOTE(gestapo @ Jul 18 2019, 04:19 PM)
fuh Honestbee ROMPAK duit
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bro be careful with words, later dapat surat cinta laugh.gif
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post Jul 18 2019, 04:25 PM

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QUOTE(fath82 @ Jul 18 2019, 04:01 PM)
Grab also still depend on vc money ka? I thought already profitable
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profitable? lol,

all uber grab etc still burning money
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post Jul 18 2019, 04:26 PM

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parking in potential tered
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post Jul 18 2019, 04:48 PM

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foodpanda > all
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post Jul 18 2019, 04:50 PM

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QUOTE(fath82 @ Jul 18 2019, 05:01 PM)
Grab also still depend on vc money ka? I thought already profitable
*
Profitable company also will ask for money for marketing etc etc....
nintendo86
post Jul 18 2019, 04:50 PM

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My honestbee everyday attack every hive he would laid eyes upon..
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post Jul 18 2019, 05:07 PM

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I see them heavily promoted at Aeon...
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post Jul 18 2019, 05:11 PM

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foodpanda and grabfood. justasplan.jpg
theguywhowaited
post Jul 18 2019, 05:22 PM

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Most probably go-jek will come in and save them. who knows?
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post Jul 18 2019, 05:23 PM

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QUOTE(Baconateer @ Jul 18 2019, 03:09 PM)
Dishonestbee
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TSbylkw2
post Jul 18 2019, 06:11 PM

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QUOTE(azhan82 @ Jul 18 2019, 03:16 PM)
kesian.. delivery service pun tak leh hidup..
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bro ur signature kena reported
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post Jul 29 2019, 11:11 AM

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foodpanda > all
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post Jul 29 2019, 11:22 AM

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so sad to many competition
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post Jun 25 2020, 06:10 PM

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Anybody know what is the reason behind the business failure? I'm curious to know
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post Jun 25 2020, 06:13 PM

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Why are you posting 2019 news?????

Everyone please be aware!
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post Jun 25 2020, 06:14 PM

I can edit title???
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QUOTE(freezingsea @ Jun 25 2020, 06:13 PM)
Why are you posting 2019 news?????

Everyone please be aware!
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the post is Jul-2019, the guy before u is necro-ing this thread
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post Jun 25 2020, 06:14 PM

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QUOTE(freezingsea @ Jun 25 2020, 05:13 PM)
Why are you posting 2019 news?????

Everyone please be aware!
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I'm not posting news, I'm asking what's the reason
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post Jun 25 2020, 09:50 PM

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QUOTE(k town shit @ Jun 25 2020, 06:14 PM)
I'm not posting news, I'm asking what's the reason
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Why didn't you aware viewers that this is 2019 news ?
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post Jun 28 2020, 09:43 PM

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QUOTE(freezingsea @ Jun 25 2020, 08:50 PM)
Why didn't you aware viewers that this is 2019 news ?
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Is there such a rule that we can't ask a question about old news?
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post Jun 28 2020, 09:45 PM

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QUOTE(k town shit @ Jun 28 2020, 09:43 PM)
Is there such a rule that we can't ask a question about old news?
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I didn't say you can't ask

I said why didn't you aware people that you are bringing up old news. Later if they mistakenly comment without knowing the actual year of this post, then how?

It's common courtesy, just reminding you
k town shit
post Jul 4 2020, 10:05 PM

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QUOTE(freezingsea @ Jun 29 2020, 10:00 AM)
I didn't say you can't ask

I said why didn't you aware people that you are bringing up old news. Later if they mistakenly comment without knowing the actual year of this post, then how?

It's common courtesy, just reminding you
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Oh I see, sorry about that...
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post Sep 1 2020, 04:04 AM

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QUOTE(k town shit @ Jun 25 2020, 06:10 PM)
Anybody know what is the reason behind the business failure? I'm curious to know
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Simple all hype and economies of scale

Most so called unicorns will get themselves shit hole when listed then when revenue doesn’t meet the expectation with cash burn daily gone bruce.gif
k town shit
post Sep 5 2020, 12:33 PM

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QUOTE(xander83 @ Sep 1 2020, 03:04 AM)
Simple all hype and economies of scale

Most so called unicorns will get themselves shit hole when listed then when revenue doesn’t meet the expectation with cash burn daily gone  bruce.gif
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But still many with the same business model can run till now. How come?
SUSxander83
post Sep 5 2020, 02:16 PM

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QUOTE(k town shit @ Sep 5 2020, 12:33 PM)
But still many with the same business model can run till now. How come?
*
Because they didn’t not over expand, managed well with less debt flow and able to get suckers too pump in money

Can you name 10 unicorns public listed which have turn profitable in the last 3yrs every quarter and you will have the answer rclxms.gif
k town shit
post Sep 7 2020, 10:19 PM

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QUOTE(xander83 @ Sep 5 2020, 01:16 PM)
Because they didn’t not over expand, managed well with less debt flow and able to get suckers too pump in money

Can you name 10 unicorns public listed which have turn profitable in the last 3yrs every quarter and you will have the answer  rclxms.gif
*
Pardon me, I really cannot understand your sentence, did you mean they over expand?
Second, is it because they gone Public Listed last time?
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post Sep 8 2020, 05:25 AM

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QUOTE(k town shit @ Sep 7 2020, 10:19 PM)
Pardon me, I really cannot understand your sentence, did you mean they over expand?
Second, is it because they gone Public Listed last time?
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You need to seriously learn to read more instead being spoon fed rclxms.gif
k town shit
post Sep 13 2020, 11:45 AM

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QUOTE(xander83 @ Sep 8 2020, 04:25 AM)
You need to seriously learn to read more instead being spoon fed  rclxms.gif
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U really need to learn how to write properly brows.gif
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QUOTE(xander83 @ Sep 5 2020, 02:16 PM)
Because they didn’t not over expand, managed well with less debt flow and able to get suckers too pump in money

Can you name 10 unicorns public listed which have turn profitable in the last 3yrs every quarter and you will have the answer  rclxms.gif
*
Unicorns never able to profit one.

They are designed to convenient ppl but its not profitable. Just see which whale big enuf to pump in money n sustain for number of years before selling it to another whale.
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post Sep 13 2020, 11:56 AM

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QUOTE(theguywhowaited @ Jul 18 2019, 03:18 PM)
Entah2 grab is buying over them like what they did to uber.

see later grab also have groceries in the app.
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heard grab also got their own struggle

but not as bad as honestbee
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post Sep 13 2020, 12:02 PM

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Most of SG startup is just created waiting for jackpot - big unicorn buying them up

So they dont mind burning money but if you dont have enough investor until big unicorn come you screw la
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the fag necro this still kena owed money is it
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post Sep 14 2020, 03:12 AM

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QUOTE(renomahans @ Sep 13 2020, 11:56 AM)
heard grab also got their own struggle

but not as bad as honestbee
*
The second grab goes into disrupting an industries they are digging their own hole since Uber was smart enough to leave the market once there is a desperation to dominate and monopolise

A few startup is already trying to cash out at a lower valuation because they knew that it’s gonna burn their cash sooner than they thought

Grab sugar daddy is cutting down and starting ups their own and hopefully will the incumbents a ride for their money rclxms.gif
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post Sep 14 2020, 09:05 AM

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QUOTE(xander83 @ Sep 14 2020, 03:12 AM)
The second grab goes into disrupting an industries they are digging their own hole since Uber was smart enough to leave the market once there is a desperation to dominate and monopolise

A few startup is already trying to cash out at a lower valuation because they knew that it’s gonna burn their cash sooner than they thought

Grab sugar daddy is cutting down and starting ups their own and hopefully will the incumbents a ride for their money  rclxms.gif
*
I was surprise Grab didn't do well during the MCO. Heard some retrenchments happen there.

THought MCO would bring more biz to food delivery to set off lost income from grab car.
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post Sep 15 2020, 02:50 AM

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QUOTE(renomahans @ Sep 14 2020, 09:05 AM)
I was surprise Grab didn't do well during the MCO. Heard some retrenchments happen there.

THought MCO would bring more biz to food delivery to set off lost income from grab car.
*
Grab been losing money since Uber left because their sugar daddy is pouring money into other investments

2nd for so call disruptive tech firm business efficiency and demand matching with consumer spending been weak hence with bloated efficiency losing money

Will want to see the collapse of it because useless app with useless services rendered by it rclxms.gif
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post Sep 15 2020, 02:59 AM

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QUOTE(xander83 @ Sep 5 2020, 02:16 PM)
Because they didn’t not over expand, managed well with less debt flow and able to get suckers too pump in money

Can you name 10 unicorns public listed which have turn profitable in the last 3yrs every quarter and you will have the answer  rclxms.gif
*
Didn't not over expand, debt flow and too pump. Brain damage after reading this. lol

Before the current crop of "tech" unicorns, the previous bunch were yahoo, google, apple, youtube, nvidia, etc. Just ask Sequioa.
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post Sep 15 2020, 03:12 AM

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QUOTE(Imdarren @ Sep 15 2020, 02:59 AM)
Didn't not over expand, debt flow and too pump. Brain damage after reading this. lol

Before the current crop of "tech" unicorns, the previous bunch were yahoo, google, apple, youtube, nvidia, etc. Just ask Sequioa.
*
HonestBee has a good business model which they are too scared too over expand in the 1st place as they already captive market whose is willing to pay for their services since 2017

Debt flow is always manageable for the 1st 2 years as long as their demand for the service because the engagement with stakeholders was a stumbling block

Sequoia is a proven failing model since 2018 as there is too many unicorns trying to game the market whereby it is already been soft back since 2018 rclxms.gif
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post Sep 15 2020, 03:16 AM

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Dabao...
Imdarren
post Sep 15 2020, 12:50 PM

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QUOTE(xander83 @ Sep 15 2020, 03:12 AM)
HonestBee has a good business model which they are too scared too over expand in the 1st place as they already captive market whose is willing to pay for their services since 2017

Debt flow is always manageable for the 1st 2 years as long as their demand for the service because the engagement with stakeholders was a stumbling block

Sequoia is a proven failing model since 2018 as there is too many unicorns trying to game the market whereby it is already been soft back since 2018  rclxms.gif
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Sequoia failing for 2 years "since 2018" when they've been smashing it since the 1970s. Omegalul

What debt flow bro. First of all, that's not even a term, secondly, startups and unicorns rely on equity for financing, not debt. Their operational survivability is dependent on their cash burn and rate of replenishment.

A large captive market is true, but that doesn't necessarily mean the business model is a good one. Just cause Honestbee was first to market and could've dump millions into ramping up customer acquisition and coverage doesn't make the business model a net cash generative one.

Look at Grab for instance, who has been around for a while, backing from Softbank and is the largest in the market. Yet, time and again they have to rely on throwing cash at you (free delivery, discounts, etc), for you to use their platform. Bottom line is, a big portion of customers for the delivery model only uses the platform because of the discounts on offer. Once they stop throwing incentives at the customers, the volume is likely to reduce drastically. There has to be a certain level of size that Grab is trying to target, to achieve economies of scale, without which it remains an unsustainable business model in its current form.

Perhaps one day, with enough cash thrown at the customers, the platform will be able to retain stickiness on its customers. However, the light at the end of the tunnel is a faint one. Nevertheless, with Softbank as a backer (via Uber), they shoulve have plenty of cash to burn for years into the future.
red4900
post Sep 15 2020, 01:01 PM

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QUOTE(xander83 @ Sep 15 2020, 02:50 AM)
Grab been losing money since Uber left because their sugar daddy is pouring money into other investments
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Has Grab EVER been profitable?
helpful
post Sep 15 2020, 01:14 PM

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Heard some BIGSHOT minister wants to get into the Shopee / lazada online business

Saying the commission is too high at Shopee / lazada

Wondering if they going to use Govt money like grant etc like all those IT malls similar to lowyat which are PURELY Money losing schemes
kucingfight
post Sep 15 2020, 01:15 PM

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got any news on Supar App airasia ...
iwubpreve
post Sep 15 2020, 01:27 PM

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kena abuse I guess
SUSrenomahans
post Sep 15 2020, 02:49 PM

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QUOTE(xander83 @ Sep 15 2020, 02:50 AM)
Grab been losing money since Uber left because their sugar daddy is pouring money into other investments

2nd for so call disruptive tech firm business efficiency and demand matching with consumer spending been weak hence with bloated efficiency losing money

Will want to see the collapse of it because useless app with useless services rendered by it  rclxms.gif
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well, probably its karma for set up HQ in Spore instead of Msia.
SUSxander83
post Sep 15 2020, 06:50 PM

Blast off like a rocket
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QUOTE(red4900 @ Sep 15 2020, 01:01 PM)
Has Grab EVER been profitable?
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Just for a short period when Uber left SEA for close to a year then kaboom it went downhill

QUOTE(renomahans @ Sep 15 2020, 02:49 PM)
well, probably its karma for set up HQ in Spore instead of Msia.
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Nothing to do with karma as setting up in HQ is justifiable due to low corporate tax of 18% and more access to capital financing rclxms.gif

 

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