27 Jul '14, 12am

Singapore Gaming firm Garena valued at US$1 billion

WANT TO BE A WEB GIANT? HEAD TO CHINA OR THE U.S. Any entrepreneur who wants to build a US$100 billion (S$124 billion) Internet company can only succeed in the US or China. The World Startup Report concluded this from data on 150 Internet companies in 50 countries. It studied the financial performance of the top three Internet companies in each country. The United States boasts three giant Internet companies: Google is the world's largest Internet company, valued at US$410 billion, followed by e-commerce giant Amazon at about US$187 billion and social network firm Facebook at US$183 billion. In China, Alibaba - due to be listed soon - tops the list with a US$200 billion valuation. Communications company Tencent is next, valued at US$154 billion, followed by search giant Baidu at US$67 billion. On average, the report said it takes about seven to 10 years to build a US$1 bil...

Full article: http://www.straitstimes.com/news/singapore/more-singapore...

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