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Remember when things weren’t all subscription-based? It feels like it was not that long ago when many online – or even offline – products and services were just based on single purchases. With Adobe, for instance, you used to only need to buy a single license.
But it feels like the rise of streaming services and the SaaS model has led to many things going down the subscription route. Now, even more businesses are doing the same.
Take I’vre, for instance. The Singapore-based fragrance startup offers a perfume subscription service that allows customers to choose one to three scents a month. Sounds interesting? Many customers thought so too – at first.
But some of them now have complaints against the firm. Some customers have said that they were overcharged by the company, while others claimed that their orders were not fulfilled.
On top of that, creditors of the firm and ex-employees have said that they’re facing late payments or are owed their salaries.
Yet somehow, I’vre also recently announced that it has been acquired, although it did not disclose further details.
What a pickle. We take a closer look in today’s story.
Today we look at:
- Fragrance startup I’vre’s abrupt goodbye and the creditors, customers, and ex-employees left in its wake
- Two Indonesia social commerce firms locking horns
- Other newsy highlights such as Moomoo’s license win in Singapore and Alibaba Group getting sued.
Premium summary
A foul-smelling situation
Image credit: Timmy Loen
Singapore-based perfume subscription company I’vre abruptly announced that it was acquired this month. The announcement came amid a deluge of complaints and refund requests from customers from unfulfilled orders and wrong charges.
Indonesia social commerce firms Evermos and Orderfaz lock horns
Apply to join the closed-door executive roundtable for January 16
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