Roll up, roll up to find out how Una Brands turned a profit

More: Carousell Group doubles down on the luxury segment and Shein posts a profit of US$2 billion for 2023. [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: - [Una Brands’ journey from down year to EBITDA profitability]( - Carousell deepening its push into the luxury segment - Other newsy highlights such as Shein recording a huge profit surge --------------------------------------------------------------- Hello {NAME} It’s hard to swim against the tide, a truth that’s evident in both of our featured stories in today’s newsletter. It’s fair to say that Singapore isn’t exactly a bastion of sporting success, yet Olympic medalist Joseph Schooling managed to overcome the odds in the pool on the way to gold. Now, he faces perhaps even longer odds of trying to make a dent in venture capital investing. Meanwhile, Una Brands also faces a great deal of adversity. After all, the ecommerce roll-up industry isn’t awash with good news these days, as many similar firms are struggling to make ends meet. Yet the Singapore-headquartered company says it turned profitable by one metric in the fourth quarter of last year, after making some hard decisions to reallocate resources and cut costs. -- Peter  ---------------------------------------------------------------  THE BIG STORY [Ecommerce roll-up firm Una Brands hits EBITDA profitability as industry struggles]( This comes after the company, which is backed by Lazada Group former CEO Maximilian Bittner, reported a significant uptick in net loss in 2022. --------------------------------------------------------------- TRENDING NEWS [Carousell doubles down on luxury segment with new acquisition]( Carousell hopes to leverage LuxLexicon’s expertise in the luxury bag market, particularly in resale and consignment [Shein posts over 2x profit growth to $2b ahead of IPO]( The company’s gross merchandise value, which reflects the total sales on its platform, reached around US$45 billion in 2023. ---------------------------------------------------------------  VISUAL STORY OF THE DAY [Weekly funding: Ant Group’s Anext injection tops chart]( Keep track of all the startup investment activities in Asia through our weekly funding list. ---------------------------------------------------------------  EVENTS HAPPENING You can also check out a curated list of trending tech events [over here]( and Tech in Asia’s signature events [here](. - [Saigon Summit 2024 : Charting Vietnam’s Tech Future on May 30]( We know that fundraising is a daunting task. So let us take the stress and guesswork out of the process and turn it into a rewarding experience by opening doors to the right investors at Investor Hour. It’s time to convince them that investing in your startup isn’t a smart move - it’s the smartest one. [Find out how you can sign up here](. - [Tech in Asia Conference Kuala Lumpur 2024 : Malaysia on The Rise on July 24-25]( Tech in Asia Conference is making its Malaysia debut this July. This event will feature compelling panel discussions, insightful skill-building workshops, and exclusive interviews with established and emerging brands across various industries. Celebrate Hari Raya with our special promotion of 45% off on all ticket types.[Grab yours]( while the offer lasts! - [Product Development Conference (Jakarta, 25-26 June 2024)]( 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. 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[Apply for your invite here](. ---------------------------------------------------------------  WHO'S HIRING You can post a job [here]( or search for jobs [here](. - [Sales Development Representative (APAC)]( at Valutico Kuala Lumpur, Malaysia - [Frontend Developer]( at Juke Solutions Jakarta, Indonesia - [Product Manager]( at TIXid Jakarta, Indonesia - [Brand Strategist Associate]( at Hangry Indonesia Bulk Terminal, Indonesia - [Marketing Manager]( at Scout.inc Jakarta, Indonesia - [Lead Content Writer]( at Jakmall Jakarta, 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? Switch to a different frequency or get new content through our [preference center]( or [unsubscribe](. 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