Letter to readers: The inside story of Reebonz’s struggles

Dear readers,

Last week, we published an account of previously unreported struggles at luxury e-tailer Reebonz, detailing how it went from a valuation of US$284 million to under US$15 million within two years and how it might turn things around.

A key obstacle it faces is the rising debt. While it raised an additional US$3.53 million in funding recently, that did not appear to have an impact on its plunging stock price. There’s also news that it might be delisted by Nasdaq if it does not surpass the US$15 million minimum requirement for the value of publicly held shares.

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Finally, check out the rest of our premium articles from the past week, which feature a number of startups on the rise:

Super app chatter

• Commentaries: Gojek’s dilemma 🏍️
• 3 years on, WeChat’s ‘instant apps’ have changed the internet

Fintech rising

• Indonesian P2P lender KoinWorks says it’s nearly profitable, has disbursed $140m in loans
• The profitable fintech startup that took off after pitching to Jack Ma on a cruise ship

Startups galore

• Rising startups on Tech In Asia: fish and meat retailer, sneakers marketplace, and more
• Where are Southeast Asia’s electric-car startups?
• How Near became Southeast Asia’s most valuable marketing tech startup

On repeat

• Here’s why Alibaba acquired a fast-growing new shopping app
• Rocket Internet’s salon-booking app gets funding to pivot to SE Asia

Cheers,

Terence
Chief Editor