SEA digital economy made $14.5 billion profits in 2024, e-commerce and super apps narrow losses

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The story "SEA digital economy made $14.5 billion profits in 2024, e-commerce and super apps narrow losses" was covered 2 weeks ago by The Straits Times, a news publisher based in Singapore.

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The Straits Times 2w ago

SEA digital economy made $14.5 billion profits in 2024, e-commerce and super apps narrow losses - The Straits Times

Quick Summary:

Singapore’s digital economy gross merchandise value grew 13 per cent to US$29 billion.

This exceeded the US$6 billion raised in 2019,” he said.“We see this as a healthy sign, a normalisation of the funding environment as South-east Asia’s premier cohort of unicorns reach maturity.

The region is also shaping up its artificial intelligence (AI) story, with over US$30 billion committed in investments for data centres to support AI in the first half of 2024.