Globe’s non-telco business tripled

For the first three months of 2022 alone, Globe Telco hauled ₱791 million revenues from its non-telco subsidiaries, triple the amount it posted in the same period in 2021.

This also marked the first quarter that non-telco services showed significant contribution to the company’s topline, driven by the growth across most of its subsidiaries, particularly Adspark, Yondu, ECPay, and Asticom.

“Our ceaseless innovation through various digital platforms, backed by the growing investment in our data network will strengthen our leadership in the digital space,” noted President and CEO Ernest L. Cu.

At the end of the first quarter, GCash, Globe’s fintech platform operated by Mynt, has over 60million registered users, more than five million merchants and social sellers, plus over 420 GLife merchant partners.

GCash is the only e-wallet with a full suite of financial services including cash loan and buy now pay later products.

At present, GCash is the Philippines’ lone double unicorn valued at over $2 billion.

Other portfolio companies under Globe’s corporate incubator, 917Ventures, include telehealth service platforms KonsultaMD and HealthNow. KonsultaMD and HealthNow both reported significant growth in consultations.

HealthNow is also leading the COVID Vaccination Program for the Ayala Group and its partners.

917Ventures also has adtech company AdSpark, loyalty, and e-commerce solutions provider RUSH, and online grocery shopping platform PureGo.

In addition, the newly spun-off portfolio companies under 917Ventures includes M360 and iNQUiRO.

KonsultaMD is likewise exhibiting strong growth with more than 1 million users across over 50 thousand retail outlets nationwide.

To further expand its reach, KonsultaMD partnered with over 70 brands and used social the media app Tiktok, garnering over 44 million views.

HealthNow has over 900 thousand customers served by over one thousand healthcare providers across more than 45 specialties.

AdSpark, the award-winning and largest locally ad-based data powered digital media and creative agency launched more than 2,800 digital campaigns.

PureGo has been quickly expanding its reach and has over 14.5 thousand products available in 16stores in NCR and GMM areas serving 36 cities.

M360, a cloud based multi-channel communications platform, provides messaging services to more than 1,000 businesses and generates over 700 million monthly traffic with access to over 150 million mobile SMS users and over 45 million chat apps users.

Globe continues to scale up its information technology solutions and services through the multipayment platform Electronic Commerce Payments Inc. (ECPay) which now has a general trade retail base of over 154,000.

Furthermore, Globe’s corporate venture capital arm, Kickstart Ventures, is one of the most active venture capital firms in the Philippines.

Kickstart manages two funds for Globe and advises the $180M Ayala Corporation Technology Innovation Venture (ACTIVE) Fund, the largest fund to come out of the Philippines.

Out of these three funds, Kickstart now has 55 investments in 7 countries, backing 118 founders.

In February 2022, the ACTIVE Fund through Kickstart Ventures co-led Clarity’s $10M Series A+ round.

Clarity is a tech startup reinventing environmental intelligence as it has created a brick-sized, regulation-grade sensor that can be deployed on every street corner, creating a wide-scale network with precise, granular, real-time readings of air quality at an affordable price.

Clarity is based in the US, and has deployments in more than 60 countries around the world.

Likewise, Globe’s wholly owned subsidiary, Asticom Technology, Inc., a shared services company launched in 2015, has seen vigorous growth in recent years, spawning four subsidiaries in 2021 alone.

These include Asti Business Services Inc. (ABSI), Fiber Infrastructure and Network Services Inc. (FINSI), BRAD Warehouse and Logistics Services Inc. (BRAD), and HCX Technology Partners Inc.

Asticom now serves more than 150 clients all over the country.

The Globe Group is likewise enabling Kroma Entertainment, which brings together passionate and experienced creators, the best talent, and innovative technology to produce fresh and engaging entertainment for the Filipino audience.

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Credit belongs to : www.mb.com.ph

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