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Miguel Cordon · · 2 min readTreeDots shuts Malaysia unit, citing ‘unsustainable’ operations
TreeDots, a Singapore-based marketplace helping suppliers manage surplus food, has announced that it shuttered its B2B distribution business MyTree in Malaysia on June 5.
Confirming the closure to Tech in Asia, TreeDots co-founder Tylor Jong said that the current economic environment presented “persistent challenges” and made continued operations of MyTree unsustainable.
Photo credit: TreeDots
Jong didn’t confirm the number of employees who were laid off as a result of the closure, but he said the firm is supporting the career transitions of those affected, including securing job interviews for “over 70%” of affected staff.
He added that the company is working with legal advisors in Malaysia to ensure the process adheres to local requirements.
Jong also clarified that TreeDots’ software-as-a-service and AI businesses in Malaysia will remain “fully operational.”
Besides Malaysia, TreeDots operates in Singapore and Indonesia.
Founded in 2017 by Jong, Nicholas Lim, and Jiacai Lau, TreeDots also offers a cold chain logistics service to transport temperature-sensitive food.
It has raised over US$11 million in funding from investors including East Ventures and Seeds Capital.
Was nearing profits
In an interview with Tech in Asia last year, Jong said the company was EBITDA positive as of the third quarter of 2024.
The co-founder also said at the time that “2025 would be the year where we observe consistent and sustainable profitability.”
In 2023, the company grew its revenue by 53%. Jong had previously noted that Indonesia contributed a large portion of this increase, while its Singapore business had a more profitable profile.
That year, the firm’s marketplace business – which includes MyTree – generated 87% of its topline.
See also: TreeDots sees strong 2023 revenue growth powering into 2024
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We chart the tough calls behind scaling the B2B food marketplace, from closing a group-buying product for consumers to pulling the plug on MyTree in Malaysia.
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