This is the Daily News Roundup. Delivered everyday via email and through the Tech in Asia website for free, this newsletter lists the biggest tech stories and trends of the day. Get it in your inbox every day by signing up here. Premium subscribers get access to the more comprehensive Executive Brief where we break down the 2 biggest news of the day.
Hello readers,
All Of Us Are Dead, the latest Korean zombie series on Netflix, was terrible.
There, I said it. If I had to take a shot every time characters did something stupid or stood around doing nothing while someone was getting attacked, I wouldn’t be alive to write this. I think part of the disappointment stems from my first experience with Korean zombie media, which was Train To Busan. Now that was a great film. I couldn’t help making comparisons between the two, especially when it came to aspects such as writing and character development.
While my prior enjoyment of Train To Busan might have led to some failed expectations with All Of Us Are Dead, let’s hope the same fate doesn’t befall Shopee with its recent foray into India. Going up against entrenched incumbents such as Meesho, Amazon, and Flipkart, the ecommerce giant has its work cut out. In today’s story, we break down Shopee’s performance so far and what it needs to do to win in its new market.
— Jonathan
The Big Story
Can Shopee win in India?
Regulatory hurdles, counterfeit items, and “China-related” issues are not stopping Shopee from snapping up millions of followers in India. Read more.
Trending news
1. AC Ventures leads $4m round of IDN crypto app
Nobi currently manages over one trillion rupiah (around US$70.1 million) worth of crypto assets.
2. ShopBack in talks for $150m fundraise
If successful, the funding will boost ShopBack’s valuation and push it towards unicorn status, sources told Bloomberg.
3. Employment Hero nets $130m, buys Australian HR tech firm
With the latest fundraise, the HR tech startup’s valuation has nearly reached unicorn status at US$901 million.
4. Shein shifts parent firm to Singapore
Shein is on a hiring spree in the city-state and Chris Xu, the firm’s founder and CEO, has become a permanent resident of Singapore, sources told Reuters.
5. South Korean crypto exchanges Upbit, Bithumb turn unicorns
Other unicorns in the country include Zigbang, Kurly, Bucket Place, Daangn Market, and Ridi, Forkast.News reported.
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
