Written by: Cao Minwei
Last update date: 2021-05-06 19:59
The epidemic has swept across the world indiscriminately, and the economies of all countries have been severely impacted. However, companies that focus on the development of innovative technology have thrived and become "unicorns" with assets of more than one billion US dollars. Personalization, turning amateur to professional education courses into educational applications, establishing a full set of distribution network services for private kitchens, and creating mirror projection services for home fitness, etc., virtual online business opportunities have seen a spurt of growth.
In Hong Kong, the tourism industry has been hit hard by the epidemic. Why did the travel website Klook perform miracles in the adversity?
The economy is sluggish, a large number of shops have closed, and banks are worried about bad debts. Why does the virtual bank WeLab push online loans?
Start-up companies face the monopoly of giants, just like David faces the giant Goliath. These energetic young unicorns, with innovative thinking and flexible new-generation spirit, will rewrite the future global economy.
Walking through the busy city, there are closed shops everywhere in the city, the unemployment rate has hit a new high, and the market is sluggish, which makes people dare not optimistic.
The global economy has come to a standstill. However, two local unicorns, Klook and WeLab, with a valuation of more than US$1 billion, have successfully secured a new round of large international financing of 1.56 billion and 600 million Hong Kong dollars.
Under the epidemic, the public will shift their desire for travel to home vacations and glamping.
The tourism experience platform takes this to expand the local travel business.
(Profile picture / Photo by Luo Junhao)
The travel experience platform Klook conducted a survey in December last year and found that 77% of respondents felt depressed because they could not travel. They shifted their desire for travel to Staycation (home vacation) and Glamping (luxury camping). This trend It has become the company's key to victory during the anti-epidemic period.
Klook’s office is located in Soho, Central. The company uses the brand’s iconic bright orange as the main tone. When you step out of the elevator, you will see a huge coffee shop. Every corner has a card seat similar to a tea restaurant and a small room like a telephone booth. Everyone holds a laptop computer in hand and finds a comfortable space to work.
Hong Kong Marketing Director Percy said with a smile that his colleagues are very young and he is the most mature employee in the company.
She shared that the company has set up a meditation time every week for employees to relax together.
Klook's office is located in Soho, Central. The company uses the brand's iconic bright orange as the main tone.
Hong Kong Marketing Director Percy shared that the company has a weekly meditation time for employees to relax together.
(Provided by interviewee)
In January of this year, despite the economic downturn, Klook was able to complete US$200 million in financing. The investment was led by the pan-Asian investment company Aspex Management. The company’s existing investors Sequoia Capital China Fund and SoftBank Vision Fund Also participate in investment.
Since 2014, the accumulated financing has reached 720 million US dollars (approximately 5.593 billion Hong Kong dollars).
Percy said that the company's philosophy focuses on agility and flexibility, and the management allows employees to put forward wild ideas, practice and learn from them.
During the epidemic, the team conceived the concept of going out for dinner and staying in a hotel for a short stay. With the full support of the management, the team finally created a miracle against the market.
As the virtual bank WeLab used more online banking services during the epidemic, the total number of users increased by 20% last year, with about 10 million new users, and it attracted many high-quality customers who were originally traditional banks.
In March this year, it received another US$75 million in financing. Since its establishment in 2013, it has accumulated more than HK$5 billion in strategic financing.
What are the advantages of two unicorn companies with a valuation of more than one billion U.S. dollars?
Please read the full text of the "Hong Kong 01" weekly electronic journal.
The above is excerpted from the 263th issue of "Hong Kong 01" Weekly (May 3, 2021) "A New Generation of "Unicorns" Changing the World". If you want to read the full text, please
The above is excerpted from the 263th issue of "Hong Kong 01" Weekly (May 3, 2021) "A New Generation of "Unicorns" Changing the World".
If you want to read the full text, please
click here to
sample the weekly newsletter and browse more in-depth reports.
Featured content of the 263 issue of "Hong Kong 01" Weekly News:
[Cover report] Green bonds become a new trend, Hong Kong can become a green financial center
Meituan's anti-monopoly investigation and rectification of the platform economy has just begun
U.S. dollar hegemony begins to decline, forming a global trend of "de-dollarization"
Political turmoil does not stop at Modi's India epidemic affecting Indo-Pacific geostrategy
The new generation of unicorns that changed the world
The EU presents the strictest bill to supervise the AI era
Unicorn KLOOKWelab01 Weekly Report on Hong Kong Economy and Tourism