[Correction] Investigating a startup’s US$1B claim

A startup said it processed US$1 billion in transactions [Open this email in your browser]( Note: In our previous version of this newsletter, we incorrectly stated that GudangAda said it has $20m revenue. A closer look at a startup's US$1b claim --------------------------------------------------------------- Hello {NAME} TGIF! But before we end the work week, let’s look into an Indonesian ecommerce startup’s bold claims first, shall we? Let’s get right into it. Your quick bytes for today: 🚶‍♂️ Is this a season of change? Because Chinese ecommerce major Pinduoduo [has a new CEO]( naming its chief technology officer Lei Chen to the post. 💸 Feeling the pinch: An insider at TikTok said the India ban could cost ByteDance more than [$6 billion in lost revenue](. 👋 Bye bye, Lasso - Facebook [shuts down]( its version of the short-video app to make way for Reels, a TikTok-like feature within Instagram. 🚓 Not a good news: Police in Ho Chi Minh City [have issued a notice]( to Loic Gautier, CEO of Vietnam-based ecommerce startup Leflair, asking for his assistance in their investigations. 🎥 The company on everyone’s radar since last month, India’s Reliance Jio, has launched JioMeet, a video conference tool that looks [a lot like Zoom](. 🤖 North + Google - The search engine giant has acquired a [smart glasses startup]( joining fellow tech giants [Apple]( [Samsung]( [Facebook]( and [Microsoft]( in the race to develop computers that we can stick on our faces.  --------------------------------------------------------------- Startup hits US$1 billion in annual GMV in less than two years? Indonesia’s GudangAda connects retailers that need to stock up on fast-moving consumer goods (FMCG) like packaged food, toiletries, or over-the-counter drugs to wholesalers who sell them. And recently, the ecommerce marketplace made some claims that have [definitely turned heads]( (🔒). Check out these numbers: Launched at the end of 2018, GudangAda said it has: - Processed US$1 billion in transactions in the past 12 months - Acquired 80,000 big retailers - Onboarded almost all of the 20,000 FMCG wholesalers in Indonesia OK, but wait a minute: Our writer talked to eight big retailers and five wholesalers in the FMCG sector of Greater Jakarta and found that none of them have used the app. Ten of them haven’t heard of it. GudangAda has offered data access for verification to any interested parties post NDA while investors remained bullish about the startup. "Look at the number of wholesalers and retailers already on the platform. Look at the amount of GMV they process. Look at how little time they took to get here. Nobody even comes close," one of them said. Read more: [Examining GudangAda’s unprecedented numbers]( (🔒) Spread the word: [Facebook]( | [Twitter]( | [Linkedin](  --------------------------------------------------------------- This robot does all the boring shit for you Botsync builds mobile robots that can transport items up to 1,000 kilograms. It recently raised an [undisclosed amount]( of seed funding to extend its services to the logistics and manufacturing sectors. Robotic Hercules? Launched in 2017, Botsync designs robots to automate repetitive tasks, such as moving heavy goods from point to point so that humans can focus on more value-adding activities. The Singapore-based startup claims that its solutions can help clients slash about 45% of their operational costs. One of the current challenges it faces is the cost and integration of its tech, as businesses still find it difficult to set aside large upfront capital investments for automation. With the fresh funds, Botsync aims to deploy around 10 to 15 robots by the end of the year and to expand in the region, especially in Southeast Asia and India. According to a 2020 Market Study report, the global market for autonomous mobile robots is expected to grow to US$600 million by the end of 2025, up from just US$180 million in 2017.  --------------------------------------------------------------- A new side hustle: Reading news Ever dream of being paid to scroll through news? US-based BuzzBreak is making that come true by rewarding readers with US$0.10 per article. We’ve unlocked this [premium article]( for you to read in full this week.  --------------------------------------------------------------- Misc Happening - [Tech in Asia x Braze: Humanise Your Customer Engagement for Today's New Normal]( on Tuesday, July 14. - [Effective content marketing in the midst of a pandemic]( on Thursday, July 16. Hiring - [Product Manager]( at Advocado Pte Ltd (Singapore, Singapore) - [React Native Mobile Developer]( at Flip (Depok, Indonesia) - [Finance Tax Specialist]( at Kitabisa.com (Jakarta, Indonesia)  --------------------------------------------------------------- Before you go on your Happy Hour, share this email with your friends to make their TGIF conversations a little cooler. And if you have comments about our revamped newsletter, we’d love to hear them! Send us feedback [here](. Copyright © 2020 Tech in Asia, All rights reserved. Don't want to receive these emails anymore? [Unsubscribe](.