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Let’s start with some good news: Mergers and acquisitions are hot in Asia, with 18 deals just last week. Coincidentally, we’re also talking about exits in today’s newsletter as our two summaries will look at a Singaporean firm that got acquired for $125 million and Lazada employees who left the ecommerce giant to launch their own companies.
If you’re a CEO or founder also gunning for an exit, building a strong product is key. So here’s even better news for you: Tech in Asia’s Product Development Conference is back and the theme this year is centered around building products that can have a positive impact on people’s lives. Learn the trends, strategies, and trade secrets around successful products from leading product experts from Zoom, Canva, Grab and more when you get a ticket at an early bird price of US$15 today.
Today we look at:
- An updated list of the growing Lazada mafia
- One of Singapore’s biggest tech exits
- Other newsy highlights such as a new US rule targets Chinese tech firms and Reliance’s tie-up with Facebook and Google
PREMIUM SUMMARY
A startup founder machine
Lazada is one of Southeast Asia’s ecommerce leaders, the parent company of Singapore’s leading online supermarket Redmart, and the ecommerce arm of Alibaba, among other things. But in recent years, the firm has also gained a new title: the birth ground for founders.
- The Lazadians: Many former key Lazada executives have gone on to start their own companies, primarily in the ecommerce industry. This isn’t surprising since many of them are likely tackling the pain points they faced while working at Lazada.
- Ka-ching!: Businesses under the Lazada mafia have gotten a ton of attention as well as a truckload of money. One of the companies in our list bagged US$$150 million in one round.
- You know them: Indonesian healthcare app Alodokter, and Thailand-based online fashion brand Pomelo are just some of the companies started by ex-Lazada execs.
Read more: The growing Lazada mafia
STARTUP SPOTLIGHT
One of Singapore’s biggest tech exits
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