Revenues runneth over but profits trickle in for Gushcloud

More: TikTok eyes a new algorithm to avoid US, and Google announces plans to pump US$2 billion into Malaysian tech. [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: - [A rundown of Gushcloud’s latest financials]( - Why Oyo hit a profit milestone despite its IPO woes - Other newsy highlights such as a potentially new algorithm for TikTok in the US and Google’s plans for a US$2 billion investment in Malaysia --------------------------------------------------------------- Hello {NAME} I like to think of myself as an independent consumer, but the truth is, I’m as easily influenced in my purchasing decisions as the next person. Take my recent purchase of football gloves as an example. Instead of the brand I’ve used for years, I opted for one that gets a constant shout-out in the videos of one of my favorite football YouTube channels. Brands wouldn’t spend big bucks on influencers if they weren’t effective. Perhaps that’s why Gushcloud, the Singapore-based digital talent agency, scored a 19% revenue bump for the 2022 financial year. However, as today’s featured story shows, more revenue doesn’t always equate with more profit. -- Peter  ---------------------------------------------------------------  THE BIG STORY [Gushcloud posts $33m revenue, losses widen to $4.4m in 2022]( The Singapore-based digital talent agency's losses were due to increases in administrative expenses and finance costs. --------------------------------------------------------------- TRENDING NEWS [Oyo records first-ever net profits: founder]( The US$12 million net profits and other results are “provisional,” but “the audited financials will likely be close to these,” Ritesh Agarwal said. [TikTok developing dedicated algorithm for US amid potential ban: report]( The separation of the company’s US and China code is estimated to take more than a year to complete, Reuters reported. ---------------------------------------------------------------  VISUAL STORY OF THE DAY [Mapping the survivors of Southeast Asia’s BNPL funding drought]( At US$136 million, funding into Southeast Asia-based BNPL firms year to date is under a third of 2023’s levels. ---------------------------------------------------------------  EVENTS HAPPENING You can also check out a curated list of trending tech events [over here]( and Tech in Asia’s signature events [here](.  [Tech in Asia Conference Kuala Lumpur 2024 : Malaysia on The Rise on July 24-25]( Join us for an unmissable two-day event where the future of tech in Malaysia takes center stage. 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