TOKYO — Asia’s unicorn boom slowed in 2019 in terms of pace of creation and fundraising, as investors turned more cautious about fast-growing startups’ valuation following WeWork’s IPO debacle.
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It looked like a clear win for the hometown company. Founded in a Kuala Lumpur storage room as a taxi-booking app, Grab had moved its headquarters to Singapore and survived Uber’s relentless price wars in the region.
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