500 km away is quite far, Shopee

More: Terraform Labs’ Do Kwon is set for extradition. [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: - [Shopee relocating teams in Indonesia]( - An Indian SaaS firm’s lowered valuation and what it means for the industry - Cryptocurrency entrepreneur Do Kwon, co-founder of Terraform Labs, set for extradition to South Korea - Other newsy highlights such as Bangalore-based Rapido topping Tech in Asia's weekly funding list --------------------------------------------------------------- Hello {NAME} The other day, I was chatting with a classmate after our exercise class had wrapped up. We were talking about long-distance relationships - don’t ask me how we got to that point - and she mentioned that she only saw her partner once a month because he had relocated to Poland for work. She shared that this move led to many questions about the future - if they were to settle down and start a family, he’d have to move back to Singapore, and that might entail him quitting his job. It’s clear that relocating comes with a lot of considerations, and it’s not an easy decision for anyone. Today’s premium story shines a light on the team relocation going on at Shopee in Indonesia - it’s focused on the technical details, but let’s also remember the actual human beings affected by the ecommerce major’s move and the decisions that they’ve had to make. -- Stefanie  ---------------------------------------------------------------  THE BIG STORY [Hundreds ‘affected’ by Shopee’s team relocation in Indonesia]( The Singaporea-based ecommerce giant is relocating its customer operations team from Jakarta to Solo and Yogyakarta cities. --------------------------------------------------------------- TRENDING NEWS [Terraform Labs co-founder Do Kwon set for extradition to South Korea]( Do Kwon, the co-founder of Terraform Labs, will be extradited to his home country of South Korea, according to a ruling by the Appellate Court of Montenegro. Kwon was arrested in Montenegro in March 2023 after attempting to travel to Dubai on a counterfeit passport. The extradition date has not been confirmed. [Postman sees 30-40% cut in valuation in secondary deal]( Angel and early investors have partially sold their stakes in Postman, which was once the most valued Indian-origin software-as-a-service startup at $5.6 billion. ---------------------------------------------------------------  VISUAL STORY OF THE DAY [Weekly funding: Rapido leads with $120m bet from WestBridge]( Keep track of all the startup investment activities in Asia through our weekly funding list. ---------------------------------------------------------------  THE FUTURE OF AI ISN'T COMING - IT'S ALREADY HERE Get an insider's look at the cutting-edge tech that’s turning heads (and boosting bottom lines) Stop wondering if generative AI can transform your business - see it in action instead. This exclusive event will show you how to leverage AI to unlock new revenue streams, optimize operations, and gain a competitive edge. [Apply for your invite today]( - limited spots available, so secure yours 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. - SPH - [Tech in Asia and The Business Times Launch “Double Impact” Press Release Bundle]( The bundle offers businesses a unique opportunity to amplify their news across Asia's largest English-language technology media publication and Singapore's leading financial daily platform. - Fingular - [Global neobank Fingular has turned its first profit in Malaysia in just 9 months after launch]( Fingular has achieved an industry-fast first month of profitability of its Malaysian business in just 9 months after launch. - PChome eBay Co. Ltd. and CYBERBIZ - [PChome eBay Co. Ltd. and CYBERBIZ Announce Strategic Partnership: ‘Platform + Brand Official Website’ as a New Business Model to Build an Open and Flourishing e-commerce Ecosystem]( The partnership combines their strengths to launch a dual-platform e-commerce service, 'Platform + Brand Official Website.' ---------------------------------------------------------------  EVENTS HAPPENING You can also check out a curated list of trending tech events [over here]( and Tech in Asia’s signature events [here](.  [AD] [Get complimentary intellectual property advice from IP experts on August 27-28]( Not sure how to protect your intellectual property effectively? Looking for professional guidance on how to commercialize your IP assets to drive business growth? [Book a free 45-minute in-person consultation]( with IP experts at Connect @ GoBusiness IP Grow, a part of IP Week @ SG 2024. Receive tailored advice and insights to address your business’ unique needs and set yourself up for growth. 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