Thailand

Notable Startups

Agoda

Agoda was founded in 2005, a clear early-bird to the startup world. As the saying goes, the early bird does indeed get the worm. In 2007, Agoda was acquired by The Priceline Group, the parent company of many well-known brands including Booking.com, KAYAK, Rentalcars.com and OpenTable. From there, it has continued its upwards expansion, launching the Agoda app in 2011 and a loyalty program in 2016.

Agoda has been largely successful in scaling on a global level, boasting operations in 46 countries and 37,000 cities worldwide. Despite these impressive figures, Agoda still relies on a localisation strategy to truly understand their customer base in each location.

aCommerce

aCommerce brands themselves as “No. 1 e-commerce enabler in South East Asia”. They look to “Acquire, activate and retain customers”, “Store and deliver products” and “Manage orders and retail data”. More specifically, their services include web store development, digital marketing, strategy consulting and supply chain fulfilment.

As a relatively young company – it was only founded in 2013, aCommerce has accomplished a great deal in a few years. Its most high-profile achievement is raising $10.7 million in 2014, the largest series A round in South East Asia. In subsequent years, it has raised $5 million ahead of its series B round and $10 million in bridge funding the year after that. In 2016, aCommerce was awarded the Frost & Sullivan Emerging Logistics Service Provider Company of the year. In addition, it also has an impressive list of big-name clients and partners including Magento, TNT, Amazon Web Services and Google.

Ookbee

Ookbee is a digital publications platform with a portfolio that currently includes over 500 magazine media titles. It holds a 90% share of the Thai digital magazine market. There are over 5 million active users on the site and this number is growing on average at 10,000 new users each day.

It is hard to believe in 2010, Ookbee only made a few hundred dollars in its first month of operations. Now it brings in over $3 million each year in revenue. Ookbee’s founder Moo Natavudh attributes some of its success to its creative business model. Revenue sharing, which allows publishers to keep 70% ensures high quality content from the big-name media houses. On top of this, Ookbee provides the publishers free advertising on the site.