Welcome to Tech in Asia’s Sunday newsletter, your weekend brief on the biggest moves in Asia’s tech and startup world. Not on the mailing list? Register here. Got a story tip? Send it to editors@techinasia.com.
In focus
For your weekend reading, we have:
- Collin Furtado on the unraveling of Tokopedia after the TikTok acquisition
- K-beauty strikes a chord with the Indian audience
- Indonesia’s sovereign fund eyes Grab-GoTo matchmaking
Hello reader,
Two years ago at a Tech in Asia Conference, I remember a founder talking about how difficult the road to a merger and acquisition (M&A) really is. One of my main takeaways: Many founders don’t anticipate the issues that crop up after the M&A is complete.
Since then, I have seen several M&As that soured after the deal was done. One such example is the US$1.8 billion mega acquisition of Tokopedia by TikTok, which was seeking to keep its ecommerce business running in Indonesia.
My top pick this week dives into exactly that.
Our journalist Putra Muskita uncovers how TikTok Shop is still struggling to integrate with Tokopedia nearly a year and a half on.
Once-loyal sellers are now airing frustrations publicly, even taking to social media to vent. Tokopedia merchants fear the platform is becoming a hollow shell of what was once a vital part of everyday life in Indonesia.
This reminds us that people and institutions act in their own best interests, and in uncertain times, things fall apart fast.
Just look at the ongoing online spat between Musk and Trump. The bromance unraveled over a bill ending EV tax cuts. The spat escalated as Musk tweeted about Trump’s ties to Jeffrey Epstein.
Image credit: Timmy Loen
It seems that Musk has had enough of Trump. After all, the Tesla CEO did spend US$300 million on Trump’s campaigns, and all he got was a shoddy sales pitch by Trump on the White House lawns, which did nothing to stop the company’s declining car sales.
Lesson learned: Even billionaires can’t buy loyalty.
Editor’s picks
Short cuts
A data story you shouldn’t miss
Quote of the week
Group tickets are almost sold out. Single tickets are selling fast
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