Behind the recent layoffs at Ninja Van

More: Foodpanda launches a new private-label selection. [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 recent layoffs at Ninja Van]( - Ecommerce firm Blibli’s Q1 2024 numbers - GoTo Group’s financial health - Other newsy highlights such as Foodpanda’s new private-label offerings --------------------------------------------------------------- Hello {NAME} Layoffs suck. A friend of mine described it as “having your world turned upside down.” One day you have a job, and then suddenly you’re unemployed, through no fault of your own. It’s especially stressful if you have responsibilities like debts to pay off or a family to take care of. The tech sector has experienced several layoffs in recent years (there was a time in 2022 when it seemed like folks were getting laid off every other day). While that’s slowed down, it’s undeniable that things are still tough for the industry, as companies try to cut costs and keep their heads above water. In today’s premium story, we take a closer look at the latest layoffs in the sector: the one at logistics firm Ninja Van. -- Stefanie  ---------------------------------------------------------------  THE BIG STORY [Ninja Van lays off about 10% of regional tech team]( The Singapore-based logistics company's revenue declined 7% year on year in FY 2023, mainly due to an almost 20% drop in parcels handled. --------------------------------------------------------------- TRENDING NEWS [Foodpanda launches own food, groceries label]( The new items will be available in all Pandamart stores across its markets. [Indonesia’s Blibli earns $241m in revenue for Q1, cuts EBITDA loss by 30% YoY]( Part of the growth came courtesy of Tiket.com, its online travel agent business, which benefited from a surge during the Ramadan period. ---------------------------------------------------------------  VISUAL STORY OF THE DAY [GoTo Group’s financial health in 7 charts]( The charts in this article, which are updated every quarter, present a snapshot of how the Indonesian giant is doing. --------------------------------------------------------------- SAIGON SUMMIT 2024: CHARTING VIETNAM’S TECH FUTURE Sneak peek of who you’ll meet on May 30 Vietnam's tech scene is leveling up, and Saigon Summit is bringing in the big players. Get ready to hear from Min-Liang Tan, the mastermind behind Razer’s billion-dollar empire; learn the art of regional expansion from Xendit’s Tessa Wijaya; and find out more about unlocking the potential of Vietnam's young tech talent with Seek Asia's Peter Bithos, the talent whisperer. [Don’t get left behind – get your ticket now!](. ---------------------------------------------------------------  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. - ADA Asia - [ADA Unveils AI CoPilots to Revolutionise Marketing and Commerce for Global Enterprises]( ADA launches AI CoPilots to transform enterprise marketing and commerce, enhancing data-driven decision-making. - GEM Corporation - [GEM Soars to 52nd on Clutch's Top 100, Driven by Visionary Growth]( GEM ranks 52nd with 78.2% growth from 2022 to 2023, showcasing a commitment to excellence and innovation. ---------------------------------------------------------------  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]( Startup Showcase is THE global stage for ambitious startups to connect with top investors and gain invaluable exposure. We just added more slots in response to overwhelming demand, but they're filling up fast. Hurry, applications close May 3 - [apply now]( and make sure your startup doesn't get left behind! [Tech in Asia Conference Kuala Lumpur 2024 : Malaysia on The Rise on July 24-25]( From macro trends shaping the landscape to the hottest emerging tech, we've got it all covered. Join us for inspiring keynotes on the Main Stage, deep dives in the Founders Summit, and actionable insights across dedicated growth tracks. Don't miss out - [purchase your tickets]( today! [Product Development Conference (Jakarta, 25-26 June 2024)]( In this edition of Tech in Asia’s flagship conference for product talent, get access to keynote presentations, interactive Q&As, and networking opportunities that help you to build, launch, and scale world-class products. Early-bird tickets are gone, but fear not—you can now grab first-release tickets at 50% off! Better yet, bring 2 friends and secure an extra 20% off. [Secure your spot now.]( [Tech in Asia’s Founders Meetup in Vietnam on May 30]( Investors and founders from Vietnam, Taiwan, and beyond have already secured their spots at our Founders Meetup in Vietnam! Will you be joining them? Don’t miss this opportunity to connect with people from across the tech ecosystem, learn about new trends and opportunities, and be part of the exciting energy of Vietnam's tech scene. [Tickets are just US$12, get yours now!]( [Saigon Summit Exclusive : Investor Hour 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. [Sign up NOW to secure your slot!]( [Sip, Savor, Socialize: Elevate Your Payments Strategy for Growth | Jakarta, 16 May]( How can payment strategies elevate your business growth? Gain fresh insights into payment trends in Indonesia, effective payment strategies, and technology advancements, such as single API. Also, enjoy networking opportunities with decision-makers from various industries over delectable canapés. [Apply for an invite today](. Due to limited space, we will curate and send invitations to selected participants via email. ---------------------------------------------------------------  WHO'S HIRING You can post a job [here]( or search for jobs [here](. - [Lead Product Manager]( at Halodoc ID Jakarta, Indonesia - [Merchant Operations Staff]( at MC Payment Indonesia Jakarta, Indonesia - [Product Researcher Intern]( at Sekolah.mu Jakarta, Indonesia - [Finance and Accounting Staff]( at PT. ASLI Rancangan Indonesia Jakarta, Indonesia - [Customer Experience Specialist]( at Scout.inc Jakarta, Indonesia - [Travel Assistant]( at True Indonesia Tangerang, 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](. You can also break our hearts and remove yourself from all Tech in Asia emails over [here](  ---------------------------------------------------------------  Copyright © 2024 Tech in Asia, All rights reserved. 63 Robinson Road, Singapore 068894