A pandemic-led change in fortunes for RedMart

A pandemic-led change in fortunes for RedMart 1

Daily Newsletter

Hello there

The new year is firmly within sight but the Covid-19 pandemic continues to have a seismic impact on our lives. Not only has it caused devastation across the world but it has also drastically changed the way we socialize, interact, and work. We pay through QR codes, work using either Zoom, Slack, or Google Meet (choose your poison wisely), and interact from a safe distance, wearing face masks.

Three years ago, no one would have believed masks would become a fashion accessory or the scale of the digital transformation societies have undergone to keep the global economy ticking. However, some might argue that the pandemic merely accelerated trends that were already taking root. Nonetheless, it’s somewhat assuring that we can count on human ingenuity to prepare and adapt to our ever-changing surroundings.

It’s that very ingenuity that gave birth to RedMart – one of Singapore’s first online supermarkets – over a decade ago. Despite a few hiccups in recent years, RedMart appears to now be making the most of the windfall in sales brought on by the pandemic. Online grocery is having a moment in Southeast Asia and RedMart is yearning for the spotlight.

— Shravanth



A pandemic-led change in fortunes for RedMart 2

RedMart’s revenue revives after year of stagnation
The Covid-19 pandemic gave RedMart a boost in FYE 2021, but will it be enough to help the company bring in net profits?



A pandemic-led change in fortunes for RedMart 3

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A pandemic-led change in fortunes for RedMart 4
Seeds Capital backs Singapore smart mobility firm’s seed round
RushOwl, a three-year-old mobility startup, plans to expand into Singapore, Vietnam, and India next year.
A pandemic-led change in fortunes for RedMart 5
🇮🇳 Roundup: Youngest unicorn Mensa buys denim brand, more
Also, the founder of Sequoia-backed Pankhuri passes away, and IDAM House of Brands acquires an F&B firm.
A pandemic-led change in fortunes for RedMart 6
Tokopedia to own 8.5% stake in local TV station after latter’s IPO
Net Visi Media, the owner of local television station Net TV, is set to go public on the Indonesian stock exchange on January 25, 2022.
A pandemic-led change in fortunes for RedMart 7
Kopi Kenangan enters unicorn club after $96m series C tranche
Kopi Kenangan said it has served 40 million cups of coffee in the last 12 months and that it has doubled its sales from the previous year.
A pandemic-led change in fortunes for RedMart 8
NFT gaming guild to launch token for sub-network next year
The new tokens will allow holders to govern the future direction of YGG’s subDAO, YGG SEA, and guarantee access to the guild’s activities and benefits.
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The leading Asian tech players eyeing an IPO
There are over 76 tech startups across the region planning an IPO, and 32 of them could collectively raise over US$23.6 billion.


You can also check out a curated list of trending tech events over here.

  • *Event* Ask Me Anything about NFTs on January 14
    Ask all your questions to Alan Seng, the founder of Dark Zodiac, a Singapore NFT project that made S$1.4 million (around US$1 million) after selling all of its 3,876 NFTs in 80 minutes.
  • AWS SaaS Forum on February 17
    Join the AWS SaaS Forum on February 17 to uncover opportunities and insights on SaaS trends, outlook for 2022 and how to build your business playbook. Attendance is complimentary.


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A pandemic-led change in fortunes for RedMart 10

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