Startups

Startups ride wave of digital entertainment as more stay indoors

USER activity is climbing higher and higher for digital entertainment startups in South-east Asia as more people stay indoors due to the Covid-19 pandemic. Companies ranging from an e-sports firm...

honestbee loses court protection from creditors

THE Singapore High Court has dismissed honestbee's application to convene a scheme meeting to restructure some US$230 million worth of debt, The Business Times has learned. This effectively opens...

Brian Koo may withdraw lifeline for honestbee

HONESTBEE may lose the support of its white knight, LG scion Brian Koo, the distressed startup told its creditors in an e-mail on Wednesday evening seen by The Business Times.

Virus outbreak puts regional startups through their first stress test

STARTUPS that have long enjoyed the benefits of an exuberant scene in South-east Asia are now facing their first stress test as they scramble to last out the Covid-19 storm.

Hotelier grandson of Asia's sugar king turns venture capitalist

[SINGAPORE] As a 17-year-old trainee bellboy, Kuok Meng Xiong spent a summer opening doors at his family's Island Shangri-La hotel in Hong Kong.

Gojek adds US$1.2b to war chest, but CEOs warn of tough times ahead

JUST three weeks after talk surfaced of a potential merger between ride-hailing giants Grab and Gojek, Indonesia-based Gojek is again in the spotlight after raising an additional US$1.2 billion in...

Travel tech startups get wings clipped; seek ways to keep going

TRAVEL and hospitality startups are seeing a drop in revenue following the Covid-19 outbreak, some by up to 60 per cent.

honestbee sold some assets at discount; S$260k of art in storage

DISTRESSED startup honestbee has sold off some of its furniture and goods to its staff, including its management, at a 20 to 30 per cent discount to the purchase price depending on the item,...

honestbee's art stash includes iconic Lichtenstein painting Bedroom

CONTRARY to the scrappiness of startup culture, honestbee's concept supermarket habitat was full of exquisite fine art.

More ex-employees file claims against Honestbee

A total of 77 former employees of struggling start-up Honestbee have filed claims for non-payment of salaries as of last Wednesday.

Honestbee sheds 80% of staff, delays salary payment

Struggling start-up Honestbee has laid off about 80 per cent of its staff in the wake of the temporary closure of its grocery store Habitat.