917 Ventures, the largest venture builder in the country, is a key factor in Globe’s transformation into a digital solutions platform. As Globe goes beyond telecommunications, its wholly owned subsidiary ensures that the daily challenges of consumers and businesses are addressed through digital means.
917 Ventures designs, launches, accelerates and scales new businesses that have the potential to grow rapidly. It aims to create the next generation of companies in the Philippines and beyond.
So far, 917 Ventures is on track with its goal of future-proofing its parent company. Create and customize specific solutions for what Filipinos need and collaborate with other organizations as needed.
“Through the initiatives we have now and the new ones we fund, build and develop, we believe we can help address our customers’ pain points. We are taking our customers digital to not only make their lives easier, but to align them with Globe’s digitization plans, ”said Vince Yamat, Chief Executive Officer of 917 Ventures.
Currently, 917Ventures has eight initiatives across six focus sectors: digital health, e-commerce, entertainment, adtech, edutech, and fintech. These are the areas where the company sees the opportunity to elevate the lives of many people.
GCash, the largest e-wallet service provider in the country and the only Filipino startup to make it to Credit Suisse’s list of 35 Southeast Asian Unicorns, is 917Ventures’ most successful startup to date. It currently has over 48 million users and offers a full suite of affordable financial services such as GSave, GInvest, GInsure and GCredit.
Following in GCash’s trajectory is KonsultaMD, who became an essential companion to over a million Filipinos during the pandemic. Patients switched to telemedicine for medical consultations for fear of contracting the virus. Even after the health crisis, KonsultaMD is optimistic that people will continue to use the service due to its convenience and affordability.
HealthNow, a telemedicine aggregator, bridges the gap between patient and health services for one-stop-shop digital health services. Meanwhile, PureGo makes online shopping quick and easy with cashless and contactless same-day deliveries. PureGo has become one of Metro Manila’s top grocery delivery services, serving 28 cities and counting.
RUSH and AdSpark, on the other hand, support businesses, especially small and medium-sized businesses. Being an e-commerce platform, RUSH helps entrepreneurs set up their businesses and sell online. For marketing and digital advertising, AdSpark is ready to hold their customers in hand as they move away from traditional advertising.
As of the third quarter of the year, 917 Ventures launched 20 initiatives and six new companies and screened over 300 ideas. The goal is to double its success in GCash, KonsultaMD and AdSpark.
Globe has always wanted to change the rules of the game. Even before 917Ventures, it had already changed the customer’s habit of texting by partnering with OTT messaging apps like Viber and WhatsApp. It has curbed illegal video downloads through partnerships with streaming sites and has accustomed its customers from downloading mp3s to listening to Spotify. Globe continues to change the rules of the game from cash to GCash, from face-to-face medical consultations to telemedicine and from shopping to online delivery.
Globe aims to transform itself into a digital solutions provider while keeping telecommunications as its core business.
Globe supports the United Nations Sustainable Development Goals, in particular UN SDG No. 9, highlighting the roles of infrastructure and innovation as crucial drivers of economic growth and development. Globe is committed to supporting the principles of the United Nations Global Compact and contributing to 10 UN SDGs.
To learn more about 917Ventures, visit https://917ventures.com.
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