Who will be the next set of “big tech” firms?
- Mega-funds and big tech firms have lately been pouring capital into digital platforms beyond the US and China. The influx of capital is causing rumblings that we may be seeing the rise of the next set of “big tech” players.
- Rising tech firms Jio Platforms (India), ByteDance (China), Gojek and Grab (Southeast Asia), Rappi (Latin America), and Line (Japan/Asia) are building their own versions of the strategic flywheels demonstrated by the global big tech firms.
- What all have in common are access to sizable data flows, an expansive scope of business, and meaningful progress towards global ambitions beyond their borders. Each firm is a product of its home market, which dictates the launchpad for its ambitions, determines its domestic regulatory environment, and colors the international market’s view of its products.
- These regional firms are reshaping what we know as “big tech” today and partnering with global players seeking a presence in large digitizing markets like India, Indonesia and Brazil.
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