Here’s what you should know today.
1. Financial comparison site Moneysmart raises $10m series B to grow into new markets
Singapore-based financial products and services comparison site Moneysmart has raised US$10 million for its series B round.
The round is led by Japanese web group Kakaku, which operates a number of consumer websites in sectors like shopping, travel, lifestyle, and real estate.
Moneysmart helps users compare 17 different personal finance products including credit cards, insurance, and loans. Site visitors can also read about various financial topics on the accompanying blog, maintained by full-time staff.
The startup competes with fellow Singaporean company GoBear, which also offers insurance, credit card, and loan comparison, and is present in six markets in Southeast Asia. Kakaku, a prominent Japanese online brand, sees Moneysmart as an opportunity to tap into consumer markets in Southeast Asia. “Our missions are very similar – help with people’s decision-making,” says Genta Sugihara, senior executive officer for Kakaku’s corporate development division.
Read the rest of the story here.
2. For retailers, Amazon is a true frenemy
“They buy from us, but they want to sell advertising to us as well,” said one brand marketer. “When you talk to them, you don’t know what their interest is.”
Amazon could be poised, according to Forrester analyst Collin Colburn, who published research on this in January, to take over search — a market Google almost wholly controls.
As consumer behavior shifts to be more specific, people will start searching on Amazon for specific needs. Amazon has created product display ads and other types of search products already.
At the same time, if brands want to be Amazon for the purpose of using only its marketing (which buyers and brands both say is good), then they also have to be on its marketplace. “Amazon is two-way relationship,” said one marketer.
Read the rest of the story here.
3. Recommended Reading: Why Bike-Sharing (Ofo, MoBike) Is Nothing Like Didi and Uber (i.e., Ride-Sharing)
Basically, bike-sharing is nothing like Didi, Grab, Ola, Uber, AirBnb and the others. Its economics are far more like an on-demand rental business or a vending machine business (at this point. It could evolve).
But much of the current excitement seems to be because people think this business is like Didi. It’s just not. It’s a different thing.
Bike sharing is basically a traditional, vertically integrated b2c rental service. It is a traditional merchant business. Being bigger helps somewhat but it is still fairly easy for a new entrant to enter. All you would need is about 30,000 bicycles. That would cost about $2.5M. So this is a cheap and fairly easy business to enter, which will probably limit long-term profitability.
However, in the short-term companies like Ofo and Mobike should do really well. They are offering an innovative new service and are first-movers in a wide-open and massive market.
Read the rest of the story here.