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Manila Bulletin devider Business devider Globe's non-telco revenues soar 101%

Globe's non-telco revenues soar 101%

Published Dec 28, 2022 01:17 pm

As Globe Telecom Inc. continues to go beyond its core business, non-telco revenues soared 101 percent to ₱2.8 billion in the first nine months of 2022, versus the same period last year.

Multi-payment platform Electronic Commerce Payments Inc. (ECPay), Yondu, and Asticom substantially contributed to Globe's revenue pie.

Globe non-telco revenues

ECPay's digital merchant partners increased as many Filipinos shifted to online channels. As of November, the company boosted its general trade retail base to 398,358.

Globe acquired a 77 percent equity interest in ECPay in October 2019, adding value to its distribution channels.

This enabled the company to provide small business owners with a platform to offer more products and services in the e-commerce sector.

On the other hand, Globe provided Philippine businesses with cloud services and software development via its IT solutions company Yondu.

Globe's shared services firm Asticom, for its part, has grown over the years, with 5,000 employees serving more than 200 clients in the telecom, financial technology, IT, retail, health, logistics, automotive, banking, education, real estate, and e-commerce industries.

It now operates as the Asticom Group of Companies.

“We are glad to see our non-telco revenues continuing their rapid growth momentum," remarked Ernest Cu, Globe Group President and CEO.

"We believe that our decision to expand our growth opportunities through non-telco services have paved the way for us to remain relevant and competitive," he maintained.

From its core telco business, Globe has diversified its offerings to include financial technology, healthcare, edutech, entertainment, adtech, e-commerce, manpower, information technology services and investments.

Its corporate incubator 917Ventures has a number of portfolio companies led by fintech platform Mynt, which operates e-wallet GCash.

At present, GCash has 71 million registered users, with 5.5 million merchants and social sellers, and around 582 GLife merchant partners.

917Ventures also operates telehealth service platforms KonsultaMD and HealthNow.

KonsultaMD shows strong growth, with more than 2 million users across over 50,000 retail outlets nationwide.

HealthNow and its subsidiary AIDE has 1 million customers served by over 1,000 healthcare providers across more than 45 specialties.

Other 917Ventures portfolio companies are, likewise, performing well.

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

Rappit, previously known as PureGo, has over 10,000 products available in 18 stores in the National Capital Region and Greater Metro Manila areas, serving 38 cities.

m360, the largest app-to-person (A2P) multi-channel messaging platform, generates over 1.1 billion average monthly traffic with access to over 150 million mobile SMS users and over 45 million over-the-top media service users in the Philippines.

Recently, it expanded its reach to 227 global destinations through its 700 partner mobile network operators.

Now powering more than 500 brands nationwide, eCommerce and loyalty company RUSH has made it to the Top 10 E-commerce Solutions Companies for 2022 of APAC CIO Outlook, the only Philippine firm on the index.

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

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

Out of these three funds, Kickstart now has 59 investments in eight countries, backing 124 founders.

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GLOBE NON TELCO BUSINESS Globe Telecom
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