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In focus
For this edition, we cover:
- The troubled Tokopedia-TikTok Shop integration
- The IPO hotspots for Asia’s startups, according to our data
- A new report from the AI Now Institute argues we’re asking the wrong questions about AI innovation
Hello reader,
Women shop on Shopee, while men shop on Tokopedia. It’s a long-running stereotype among Indonesia’s ecommerce shoppers, but I’d wager that most people would agree.
It’s certainly true for me. I don’t even have the Shopee app installed on my phone, considering I make 90% of my online purchases on Tokopedia.
But tech consumers can be fickle. If a new competitor dangles massive discounts, shoppers would easily defect.
Lately, I’ve noticed a lack of discounts on Tokopedia, and I’m not the only one. A friend who sells electronics online says that his Shopee sales are through the roof, catching up with his Tokopedia volume for the first time ever.
It’s one of several issues surrounding Tokopedia’s integration with TikTok Shop, which we detail in today’s Big Story.
Sellers, primarily MSME ones, find that new features and policies benefit large national brands at their expense. Employees grapple with job cuts and a new way of working – especially with ByteDance’s Singapore headquarters calling the shots.
There’s a tinge of sadness in every interview I did. But the fickleness of tech consumers can also be a comfort: sometimes it just takes one thing to win everyone back.
Today’s data story is one example. While the tariff war has dampened enthusiasm in the Chinese economy, several China-based startups are raring to go public over the next 12 to 18 months – many of them in Hong Kong.
Putra Muskita, editor
Top Stories
1️⃣ From marketplace to mess: Tokopedia unravels after merger
Spotlight
This week’s 60/40 episode explores how AI is changing how we discover, apply, and land new jobs
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