Disrupting a dinosaur industry

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Hello readers,

It’s tough to be an ecommerce marketplace, even more so when you need to deal with the traditional and skeptical manufacturers of Indonesia’s fast-moving consumer goods (FMCG) sector.

So what are these challenges? Scroll down for a summary or click here for the full article. (🔒)

But first, here are your quick bytes for the day:

1️⃣ A chip-testing equipment provider based in Singapore saw a 53% surge in its share price. Its main customer, Intel, accounts for over 90% of its revenue.

2️⃣ After India imposed a ban on 59 Chinese mobile apps, including UC Web, the Alibaba subsidiary slashed jobs in the country.

3️⃣ JD.com has signed a partnership to become a sponsor and marketing go-to for Tencent’s esports league, King Pro League.

4️⃣ Siam Commercial Bank, is going up against Grab and Gojek: Thailand’s oldest bank is set to launch own food delivery service this month.

5️⃣ TikTok was planning to set up its global headquarters to the UK, but talks have been halted. The move would have created 3,000 jobs.

6️⃣ SoftBank has quietly sold $2.2 billion of its stake in Alibaba Group to pay down debt and buy back its own shares.

Disrupting ain’t easy for Indonesia’s ecommerce players

Many of us are binge-shopping online these days and loving the convenience of it. But Indonesia’s fast-moving consumer goods sector might not be as open to ecommerce as we are.

That’s making things slightly difficult for Mitra Bukalapak (🔒).

Using Grab and Gojek to intimidate activists