Globe Non-telco Revenues Jump 252% In Q1 2022
Globe’s strategic shift to becoming a digital solutions platform has started to bear fruit, with revenues from non-telco services growing a robust 252% year on year.
Total non-telco revenues from its subsidiaries amounted to ₱791 million for the first three months of 2022, almost three times larger than the same period last year.
This marks the first quarter that non-telco services have significantly contributed to Globe’s topline. The positive results were driven by growth across most of the company’s subsidiaries and affiliates.
Aside from popular e-wallet service GCash and telehealth platforms KonsultaMD and HealthNow, Globe is seeing marked improvements in the performance of Adspark, Yondu, ECPay, and Asticom.
Award-winning AdSpark is the largest local ad-based data-powered digital media and creative agency. It has already launched more than 2,800 digital campaigns.
On the other hand, multi-payment platform Electronic Commerce Payments Inc. (ECPay) now has a general trade retail base of over 154,000.
Asticom Technology, Inc., a shared services company launched in 2015, has spawned four subsidiaries in 2021 alone: Asti Business Services Inc. (ABSI), Fiber Infrastructure and Network Services Inc. (FINSI), BRAD Warehouse and Logistics Services Inc. (BRAD), and HCX Technology Partners Inc. Asticom serves more than 150 clients from all over the country.
These developments bring Globe closer to its vision of going beyond telco to empower the Filipino digital lifestyle
“We are optimistic about the growth prospects for new ventures in Globe’s expanding portfolio. We believe that our ceaseless innovation through various digital platforms, backed by the growing investment in our data network, will strengthen our leadership in the digital space. Our commitment to making continuous enhancements in our products and services are all geared towards empowering and uplifting Filipino lives,” said Globe President and CEO Ernest Cu.
Globe offers several diverse high-growth enterprises in healthtech, fintech, adtech, e-commerce, e-learning, and entertainment to keep pace with the speed of the consumers’ digital adoption.
GCash remains the Philippines' fintech leader with over 60 million registered users, more than 5 million merchants and social sellers, and over 420 GLife merchant partners. It is the country’s lone double unicorn valued at over $2 billion.
KonsultaMD has more than 1 million users across over 50,000 retail outlets nationwide and has partnered with over 70 brands. HealthNow has about 900,000 customers served by over 1,000 healthcare providers across more than 45 specialties.
GCash, KonsultaMD, HealthNow, and AdSpark are part of Globe’s corporate venture builder 917Ventures. Other 917Ventures portfolio companies are e-commerce solutions provider RUSH and online grocery shopping platform PureGo, which has over 14,500 products available in 16 stores in Greater Metro Manila areas serving 36 cities.
There are also newly spun-off portfolio companies - M360 and iNQUiRO. M360 is a cloud-based multi-channel communications platform that provides messaging services to more than 1,000 businesses. iNQUiRO powers businesses to make data-driven decisions via products powered by artificial intelligence.
Meanwhile, Kickstart Ventures, Globe's corporate venture capital arm, manages two funds for Globe and advises the $180-M Ayala Corporation Technology Innovation Venture (ACTIVE) Fund, the largest fund to come out of the Philippines. Kickstart has 55 investments in 7 countries, backing 118 founders.
The Globe Group likewise enables Kroma Entertainment, which brings together passionate and experienced creators, the best talent, and innovative technology to produce fresh and engaging entertainment for the Filipino audience.
To learn more about Globe, visit www.globe.com.ph.