2C2P’s numbers paint a rosy picture

More: Much afoot in Chinese tech, including Moonshot’s big-money funding round. [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: - [What’s behind 2C2P’s great numbers]( - Temu hitting a snag in Thailand - Layoffs happening across SEA's tech startup ecosystem - Other newsy highlights such as Tencent joining Moonshot’s US$300-plus million funding round --------------------------------------------------------------- Hello {NAME} This year has been one of significant self-discovery and growth for me. I went on my first-ever solo trip; I watched a concert for the first time in - no joke - 20 years; I’ve moderated stage sessions at three conferences and counting. We’re only a bit over halfway done with 2024, but I’m already plenty fulfilled. Of course, the journey goes on. Just because I’ve done so much already doesn’t mean I’m done for the year. There’s still a lot to learn and do. In today’s premium article, we take a look at fintech firm 2C2P’s latest numbers and what lies behind them. I won’t spoil it, but the company certainly appears to be on a similar upward trajectory that I’m currently enjoying. -- Winston  ---------------------------------------------------------------  THE BIG STORY [Ant Group’s 2C2P slashes 2023 losses by 93%]( However, the Singapore-based firm's losses in 2022 were inflated by a one-time share-based payment. --------------------------------------------------------------- TRENDING NEWS [Thailand PM calls for probe into operations of China’s Temu e-commerce platform]( Srettha Thavisin expressed worries that profits from Temu’s local operations might be repatriated to China without the company paying taxes in Thailand. This comes amid worries that the ecommerce platform may hurt the country’s SMEs. [Tencent joins US$300 Million financing for China’s AI unicorn]( Moonshot is valued US$3.3 billion after closing the latest round. The startup also secured fresh funding from Alibaba and Gaorong. ---------------------------------------------------------------  VISUAL STORY OF THE DAY [Asia layoff tracker: latest on Shopee Indonesia, Waycool]( Tech firms are dismissing staff to stay afloat as headwinds hit Asia. This layoff tracker is keeping tabs on marching orders. ---------------------------------------------------------------  NOT-SO-NEWSFLASH: AI IS NO LONGER A ‘NICE TO HAVE’ Forget catching up - it’s time to leapfrog your competition What if you could shape the next AI breakthrough instead of just reading about it? On August 22, Google Cloud experts will reveal how they're supercharging AI for startups, giving you the tools to define the future, not just keep up. Think of it as a master class in generative AI, where you'll broaden your perspective, gain actionable strategies, and glean next-gen insights. You might even open doors to collaborations that redefine your startup’s boundaries. 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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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