A closer look at a startup’s $1b claim

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Hello readers,

TGIF! But before we end the work week, let’s look into an Indonesian ecommerce startup’s bold claims first, shall we? Let’s get right into it.

Your quick bytes for today:

🚶‍♂️ Is this a season of change? Because Chinese ecommerce major Pinduoduo has a new CEO, naming its chief technology officer Lei Chen to the post.

💸 Feeling the pinch: An insider at TikTok said the India ban could cost ByteDance more than $6 billion in lost revenue.

👋 Bye bye, Lasso – Facebook shuts down its version of the short-video app to make way for Reels, a TikTok-like feature within Instagram.

🚓 Not good news: Police in Ho Chi Minh City have issued a notice to Loic Gautier, CEO of Vietnam-based ecommerce startup Leflair, asking for his assistance in their investigations.

🎥 The company on everyone’s radar since last month, India’s Reliance Jio, has launched JioMeet, a video conference tool that looks a lot like Zoom.

🤖 North + Google – The search engine giant has acquired a smart glasses startup, joining fellow tech giants Apple, Samsung, Facebook, and Microsoft in the race to develop computers that we can stick on our faces.

Startup hits US$1 billion in annual GMV in less than two years?

Indonesia’s GudangAda connects retailers that need to stock up on fast-moving consumer goods (FMCG) like packaged food, toiletries, or over-the-counter drugs to wholesalers who sell them.

And recently, the ecommerce marketplace made some claims that have definitely turned heads (🔒).

Check out these numbers:
Launched at the end of 2018, GudangAda said it has:

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