Thursday, June 20, 2024

Globe’s non-telco revenues jump to record high in 2022

Ayala-owned Globe reported that its non-telco revenues leaped to record-high P4.2 billion in 2022 from P2 billion the previous year.

This was mainly due to the outstanding performance of its tech units EC Pay, Yondu, and Asticom Group of Companies, said Globe, which has dropped the word “Telecom” from its name.

 “We are proud of the progress we have made in our non-telco initiatives. Our commitment to delivering innovative digital solutions has allowed our portfolio companies to be at the forefront of disrupting traditional industries, providing more opportunities and value to our stakeholders,” said Globe Group president and CEO Ernest Cu.

For one, ECPay reported significant growth in digital merchant partners as many Filipinos shifted to digital channels. It has a general trade retail base of 423,761, exceeding its target of 400,000.

IT solutions company Yondu, meanwhile, provides Philippine businesses with cloud services and software development, among other technology solutions.

On the other hand, Asticom, a tech-enabled shared and outsourcing services company, now manages more than 5,000 employees from a mere five employees in 2015 and serves over 200 clients from all over the country.

It now operates as the Asticom Group of Companies with four subsidiaries: Asti Business Services Inc. (ABSI), HCX Technology Partners Inc. (HCX), Fiber Infrastructure and Network Services Inc. (FINSI), and its newest venture, Acquiro Solutions and Tech Inc.

Globe’s venture into digital solutions through 917Ventures has also produced remarkable results with GCash, the only Philippine unicorn valued at over $2 billion. 

GCash has 76 million registered users, 5.8 million merchants, and 855 GLife merchant partners. It has introduced digital financial services, including loans, credit, savings, and insurance, disbursing over ₱57 billion in loans to 2 million unique borrowers.

Telehealth service providers KonsultaMD, HealthNow, and AIDE, the three largest players in the digital healthcare industry. It now has a base of 2 million users and is available in over 50,000 retail outlets nationwide.

AdSpark, the local ad-based data-powered digital media and creative agency, has launched more than 3,100 digital campaigns.

Loyalty and e-commerce provider RUSH has an aggregated base of over 6 million registered users across 7,000 locations nationwide, serving more than 1,000 merchant partners for its e-commerce solutions.

917Ventures’ portfolio also includes cloud-based multi-channel communication platform m360, online tutorial platform for K-10 EdVenture, study now, pay later IT boot camp KodeGo, customer analytics solution iNQUiRO, and adtech company DeepSea.

It focuses on hypergrowth industries including fintech, digital health, adtech, edutech, e-commerce, B2B SaaS, media and entertainment, and climate tech.

Most recently, it partnered with the Ayala Corporation and Gogoro, a Taiwan-based global leader in two-wheel electric vehicle (EV) and battery-swapping technology, to bring to the Philippines Gogoro Smartscooters, batteries, and swapping stations.

Meanwhile, Kickstart Ventures, Globe’s corporate venture capital arm, manages two funds for Globe and advises the Ayala Corporation Technology Innovation Venture Fund.

Kickstart has 61 investments in eight countries and is backing 130 founders.

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