Regulators are throwing the book at SEA tech players that don’t go by it

More: GoTo slides in the black. [Read from your browser]( Daily Newsletter Welcome to Tech in Asia's free Daily Newsletter! Get full access to our subscribers-only Daily Newsletter and other insightful analysis on the big and messy topics of Asia’s tech and startup community by [registering here](.  --------------------------------------------------------------- IN FOCUS In today's newsletter, we spotlight: - The [long arm of the law catching up to tech firms]( - Job cuts at ShopBack that affected 24% of its staff - Other newsy highlights such as GoTo’s profitable quarter --------------------------------------------------------------- Hello {NAME} I’m not sure if it’s because of how I was brought up or if it’s an innate part of me, but I’ve always abided by the rules. I’m not a stickler for them, but I never strayed far from the policies at school or work. (Unless it was something dumb like “don’t play football in the void deck after school,” which is a completely victimless infringement.) I think there’s also a part of me that thinks it’s more clever - and therefore more exhilarating and satisfying - to find a loophole and exploit it. Sometimes, following the letter rather than the spirit of the law can be oddly more infuriating to opponents. Regulators in the tech world, however, might not be so good-humored in responding to such techniques, if the number of crackdowns in the last few years are any measure. Today’s premium article focuses on some high-profile cases, why they happened, and what a more regulated tech industry could look like. -- Winston  ---------------------------------------------------------------  THE BIG STORY [Asian tech feels the heat as regulators bare teeth]( In China, domestic and external challenges have reordered national priorities, with politics trumping the economy. --------------------------------------------------------------- TRENDING NEWS [GoTo Group logs adjusted profit for Q4, plans to buy back $200m worth of shares]( The company expects to break even on a group-level adjusted EBITDA basis in 2024. [ShopBack cuts 24% of staff in push for sustainable growth]( CEO Henry Chan said ShopBack approached its headcount reductions by “redesigning from scratch a reorganized and lean organizational structure.” --------------------------------------------------------------- TECH IN ASIA REGIONAL FOUNDERS MEETUP: SINGAPORE On April 24, learn practical insights to take on the ongoing tech winter Amid the slump in the current macroeconomic environment, are VCs now ready to deploy funds? Well, we don’t have the answer, but we know experts that do. On April 24, Square Peg principal Ed Barker, MSW Ventures general partner Jeffrey Seah, and Antler associate partner Rufus Sorsa will shed light into the cautious optimism around funding. They’ll also share their take on the verticals poised for a strong recovery and offer strategic tips to navigate the ongoing tech winter. So, ditch the hat and scarf and join us at Singapore’s Hopscotch for an evening of enlightening discussions that will give you a deeper understanding of the current funding landscape. [Tickets on sale – get yours today!]( ---------------------------------------------------------------  VISUAL STORY OF THE DAY [20 top angel investment networks in Asia]( Here's our regularly updated list of Asia's top angel investment networks. ---------------------------------------------------------------  PRESS PEEKS The following press releases were published as they were received, without any editing from the Tech in Asia team. You too can publish your own press release on Tech in Asia by simply filling in [this]( page](. Our team will get back to you by the next business day. - CBTW - [Philippines’ Metrobank partners with CBTW to transform its wealth management technology]( Metrobank & CBTW are implementing Temenos Wealth to enhance the Bank's operational efficiency and accelerate business growth.  - iCompany - [iCompany Launches AI-Powered Digital Solutions for Business Incorporation in Malaysia]( iCompany is set to transform the way entrepreneurs and businesses set up Sendirian Berhad in Malaysia.  - Request Finance - [Request Finance Acquires Consola Finance To Become the Ultimate Enterprise Finance Platform for Both Crypto and Fiat]( Request Finance just acquired one of the leading technologies for crypto accounting - Consola Finance.  ---------------------------------------------------------------  EVENTS HAPPENING You can also check out a curated list of trending tech events [over here](. - [Saigon Summit 2024: Charting Vietnam’s Tech Future on May 30]( As a founder, getting opportunities to talk to the right investors is always tricky. Saigon Summit is here to help you out: secure a ticket, apply for Investor Hour, and get a dedicated slot to pitch your ideas to top-tier investors. Slots are filling up fast, so buy your ticket now! - [Tech in Asia’s Founders Meetup in Singapore on April 24]( Discover what awaits at Founders Meetup 2.0 in Singapore! Join us at Hopscotch to glean insights and insider tips from distinguished VCs on navigating the tech winter. You could even secure exclusive face time with them to gain clarity on your funding struggles and prospects. Don’t miss out - [grab your ticket]( and be part of the experience! P.S. We’re just getting started. We’re hosting many other Founders Meetups this year, so [stay tuned]( - [Tech in Asia Conference Kuala Lumpur: Malaysia on the Rise]( The Tech in Asia Conference is back! This year, we’re thrilled to be hosting our flagship event not just in Jakarta but also at a new stop: Kuala Lumpur. TIA Conference KL aims to provide a platform for founders, leaders, and innovators from Southeast Asia to come together, foster connections, and exchange insights on Malaysia's untapped potential. Through thought-provoking panels, curated networking sessions, and dedicated exhibition opportunities, attendees will gain fresh perspectives on what’s next for the country’s tech ecosystem. Tickets to this event are available now. Catch our early bird special, with prices starting from just US$40 (US$80 unit price) for a General Pass. [Grab yours while the offer lasts]( ---------------------------------------------------------------  CONFERENCE LINEUP Check out Tech in Asia’s other signature events lineup for 2024 [here](. - [Product Development Conference (June 2024)]( Presale is now open! This year’s conference, themed around “scaling product innovation from startup to enterprise,” will deliver tailored insights for attendees at any stage of their business journey. [Secure your spot now]( - tickets start from US$13 (197,500 rupiah)! - [Tech in Asia Conference Kuala Lumpur 2024 (July 2024)]( For the first time ever, Tech in Asia Conference is coming to Kuala Lumpur! Join us in July as tech enthusiasts and industry experts across Southeast Asia get together for the region’s largest tech gathering. ---------------------------------------------------------------  WHO'S HIRING You can post a job [here]( or search for jobs [here](. - [Head of Lending Capital]( at AwanTunai Jakarta, Indonesia - [Brand Marketing Intern]( at KoinWorks Jakarta, Indonesia - [Quality Control Area]( at Aruna Indonesia Bulk Terminal, Indonesia - [Graphic Designer]( at Rocketindo Jakarta, Indonesia - [Content & Research Lead]( at Scout.inc Jakarta, Indonesia - [CRM Specialist (Boleh Belajar)]( at Boleh Dicoba Digital Bandung, Java, Indonesia [ADVERTISE]( | [SUBSCRIBE]( P.S. Don't miss out on the biggest tech news and analysis. Add newsletter@techinasia.com to your address book, contacts, or safe sender list. Or simply move us into your inbox. Tech in Asia thanks our partners for supporting our newsletters. Sponsorship has no influence on editorial content. Too many emails? 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