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Hello reader,
I’ve been absolutely engrossed by the Netflix docuseries Beckham lately.
I’m not just watching for the trip down memory lane through retired footballer David Beckham’s impressively varied catalog of hairstyles, though. Some of the best parts of the show for me feature former Manchester United manager: Sir Alex Ferguson.
His gruff, no-nonsense Glaswegian manner of speaking makes him a must-watch. Unfortunately, his greatest quote has yet to make an appearance.
After a slow start to a season in the early 2000s, one pundit foolishly opined that Ferguson was facing the greatest challenge of his career. He responded in a typically straightforward fashion: “My greatest challenge was knocking Liverpool right off their f*cking perch.”
The quote speaks to how hard it is to compete with someone or something that has already reached the top, which is the challenge Temu is facing in Southeast Asia.
The Pinduoduo-affiliated ecommerce platform is squaring off with incumbents Lazada and Shopee for market share, who may be even more formidable opponents than Liverpool FC.
Today we look at:
- Temu setting its sights on Southeast Asia’s ecommerce market
- VinFast moving up the gears with decent Q3 2023 results
- Other newsy highlights such as Good Doctor raising $10 million in funding and Oyo’s efforts to refinance a sizable loan.
Premium summary
Temu time?
Image credit: Timmy Loen
Temu’s entrance in Southeast Asia is challenging Shopee and Lazada’s dominance in the region’s ecommerce market.
The Chinese cross-border ecommerce platform entered the Philippines in August and Malaysia last month, bringing its highly affordable wares to the region.
Picking up speed
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