Why IPOs are a distant dream for Vietnamese startups

More: TikTok to focus on US instead of Europe for ecommerce push. [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: - [Why IPOs are often a bridge too far for Vietnam-based startups]( - Evermos, an Indonesia-based social commerce startup that’s Evermos plans a listing - Other newsy highlights such as TikTok shifting its ecommerce focus away from Europe to zero in on the US --------------------------------------------------------------- Hello {NAME} You don’t have to live in Vietnam for very long to realize that national pride runs deep among its people. The love for all things Vietnam could even extend to companies large and small. This was quite the culture shock when I first got here: I come from Ireland, after all, where everyone essentially hates Ryanair and complains about whatever bank they use. Vietnamese companies that expand overseas are often especially loved, as they’re seen as representing the country and its people abroad. However, as today’s featured story shows, an enthusiastic and large cheering section isn’t enough for Vietnam’s tech companies to make their overseas IPO dreams come true. -- Peter  ---------------------------------------------------------------  THE BIG STORY [VNLife boss deems IPO ‘too complex’ for Vietnam-based firm]( Regulatory hurdles and investor disinterest make IPOs difficult for Vietnam’s tech firms, said VNLife CEO Niraan De Silva at Tech in Asia’s Saigon Summit. --------------------------------------------------------------- TRENDING NEWS [Indonesia-based Evermos sees US or Jakarta as potential markets for upcoming IPO]( The social commerce startup aims to be EBITDA-positive by the fourth quarter of 2024, reported Nikkei Asia. [TikTok hits brakes on ecommerce expansion in Europe to focus on US growth]( Earlier this year, TikTok said it aims to grow its online shopping arm to become a US$17.5 billion business, Bloomberg noted. ---------------------------------------------------------------  VISUAL STORY OF THE DAY [Weekly funding: Flipkart $950m deal gives it first place]( Keep track of all the startup investment activities in Asia through our weekly funding list. ---------------------------------------------------------------  TECH IN ASIA X AIRWALLEX STARTUP NIGHT ON JUNE 19  Don't just dream of startup success, build it. Tired of being stuck in the same old routine? Tech in Asia x Airwallex Startup Night is shaking things up with an exclusive launch party and networking mixer! Expect a vibrant mix of entrepreneurs, industry disruptors, and fellow founders who dare to dream bigger. Forge connections that matter and unlock secrets to accelerate your startup growth. 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