edotco on how enterprise modified after turning into a M’sian unicorn

Earlier than 2020, numerous startup ecosystem gamers mentioned Malaysia would see a unicorn quickly, but to no success 12 months after 12 months. Then seemingly out of nowhere in 2021, Malaysia recognized three of them.

Carsome was named Malaysia’s first homegrown unicorn in July 2021 after buying iCar Asia. Shortly after, telco infrastructure companies firm, edotco silently joined the membership, with most solely discovering out concerning the information when AirAsia Digital was named the third Malaysian unicorn in October 2021.

Now that it’s been a 12 months since these native firms gained unicorn standing, we puzzled, what’s modified for them? 

We reached out to all three unicorn firms to get their responses, nonetheless, Carsome and AirAsia Digital declined this interview, leaving us with a solo characteristic on edotco. 

So, who’s edotco?

Whereas a lot of the general public could not know its title, edotco is definitely an enormous participant behind our telco companies in Malaysia and SEA. Established in 2012, edotco Group Sdn Bhd is the infrastructure arm of Axiata Group Bhd and is ranked within the high 10 international tower firms.

Headquartered in KL, edotco has a regional portfolio of over 50,000 towers throughout Malaysia, Indonesia, Bangladesh, Cambodia, Sri Lanka, Pakistan, Philippines, Myanmar, and Laos.

Picture Credit score: edotco

Axiata owns 63% of edotco, adopted by Innovation Community Corp of Japan (21%), Khazanah Nasional Bhd (10%), and Kumpulan Wang Persaraan (Diperbadankan) (5%).

In 2020, Reuters quoted the valuation of edotco to be at US$2 billion to US$2.2 billion (RM8-9 billion).

Seeing that the standards to be topped a unicorn contains being valued at US$1 billion, maybe edotco gaining unicorn standing in 2021 could have been overdue?

Increased deal with rising income

Some are of the opinion that unicorns have a tendency to only chase and burn by investor cash, and {that a} “correct” startup is one which needs to be grown by blood, sweat, and tears.

As a unicorn, edotco believes that it’s all about income technology high quality and has applied sure adjustments to its operations to suit the invoice.

Picture Credit score: edotco

For one, edotco is making its enterprise extra environment friendly and productive through the use of one thing it calls a “zero-touch” operation. By it, extra expertise is used to keep up its towers to cut back the variety of individuals visiting the websites, which is likely one of the firm’s highest prices. 

As well as, edotco constructed a Community and Planning Analytic (NaPA) software, which offers visibility into the protection, capability hole, and velocity of sure cellular community operators (MNOs) in every cluster. 

It permits the corporate to interact in proactive advertising and marketing slightly than being very passive as up to now, based on Adlan Tajudin, edotco’s Director and Group CEO.

Extra strain to IPO

Fame is undoubtedly one of many benefits of being recognised as a uncommon, high-valued, privately-held startup.

Adlan identified that one other additional benefit to being a unicorn is the chance to function a job mannequin for native startups.

Being a unicorn may appeal to the eye of extra home and international traders to the nation, together with funding from the federal government. 

When a startup turns into a unicorn, it indicators the potential of the business, prompting the federal government to pay nearer consideration to it and improve investor ambition.

Picture Credit score: edotco

So as to add, edotco additionally shared that it’s been seeing an elevated suggestion to think about Preliminary Public Providing (IPO) as a part of its funding train.

Adlan addressed that whereas IPO is likely one of the funding choices accessible in the meanwhile, there are nonetheless numerous funding alternate options to think about. Every one will likely be assessed fastidiously earlier than the corporate decides whether or not it will likely be the monetisation avenue for its shareholders’ consideration.

Therefore, the workforce is being selective about funding alternatives.

Extra strain to dwell as much as the standing

edotco shared that on a bigger scale, the attainment of unicorn standing units off a sequence of chain reactions that affect and contribute to the nationwide economic system. 

“Being one of many few unicorns in Malaysia, the strain to continuously surpass the benchmark can creep as much as us and may get overwhelming at occasions,” Adlan shared.

“Now we have give you proactive options to handle expectations and deal with the strain while not compromising on high quality.”

Being adaptable, resourceful, and present is vital to keep up the standing of a profitable unicorn, Adlan mentioned. In doing so, it could actually assist the economic system of the nation flourish. 

Picture Credit score: edotco

It is because when there are extra unicorn firms inside a rustic, it turns into extra enticing to new entrepreneurs and enterprise capitalists to tackle such alternatives themselves. 

In flip, the nation establishes itself as a rising hub for brand new skilled alternatives, additional attracting high tier expertise from world wide.

What it means to have unicorn standing

All in all, the “unicorn standing” title instantly provides credibility to any firm, because it means that the startup has a globally viable and scalable mannequin. 

“This, in flip, creates momentum and improves the sense of focus throughout the corporate’s groups,” acknowledged Adlan.

The billion-dollar valuation additionally raises consciousness amongst shoppers, goal audiences, and exterior stakeholders internationally. 

Whereas constructing a model’s profile on house turf could also be simpler, reaching shoppers on a worldwide scale is commonly a totally completely different ballgame. Reaching unicorn standing has not solely put Malaysia on the map however given us an precise probability at creating extra ambition throughout the pool of traders.

Adlan Tajudin, edotco’s Director and Group CEO

Because the market grows, investments will solely proceed to extend as extra traders look to capitalise on new alternatives inside a market. 

This, in flip, performs a key function in bettering the socio-economic standing of the nation.

  • Study extra about edotco right here.
  • Learn different unicorn-related articles we’ve written right here.

Featured Picture Credit score: edotco’s workforce

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