How a 141-year-old telco is reinventing itself

More: ByteDance CEO reconsiders TikTok sale, Facebook to ban news from Australian sites, and Kuaishow plans to ride ecommerce wave [Open this email in your browser]( Daily Newsletter --------------------------------------------------------------- Hello {NAME} Just like how my grandma struggles to use emojis, old and huge companies tend to find it difficult to go digital. But that doesn’t mean they can’t try. And one company that hasn’t stopped trying is telecom giant Singtel. It has pretty much done it all, from running an ecommerce platform, an e-magazine, a messaging service, and a lifestyle site to investing in a gaming startup. Check out the [full article]( or scroll down for a quick summary. Also, we've added some [clarifications]( to our recent story on Tokopedia’s Dhanapala. The peer-to-peer lending platform got a license from Indonesia’s Financial Services Authority in August 2019, before the breach happened in May 2020. But first, your quick bytes for today:  1️⃣ ByteDance CEO reconsiders US sale of TikTok Given China’s new tech exports rule, the company’s regulatory team and deal negotiators are said to be busy crafting a deal that can win approval from both governments, an acquirer, and venture investors. Nevertheless, ByteDance founder Zhang Yiming could be [reconsidering]( his options of selling the US operations of short-video app TikTok.  2️⃣ Facebook to block news from Australian sites The US tech titan is [not happy]( that a potential new law in the country will require Facebook to pay for news sourced from local providers.  3️⃣ Kuaishou’s plan to ride the livestreaming ecommerce boom The Chinese short-video app [announced plans]( to incubate 100,000 businesses, groom 10,000 livestreamers, and host over 1 million ecommerce livestreaming sessions. Livestreaming ecommerce was estimated to be worth US$61.2 billion in the Middle Kingdom last year. If Southeast Asia follows China’s trajectory, this industry could be huge. But the question is, which player will capture the [most market share](  4️⃣ Small is the new big, says Oyo boss Ritesh Agarwal, founder and CEO of the Indian budget hotel chain, [believes]( that in order to reduce risk, holiday-goers will choose to stay in boutique accommodations and home rentals compared to a 1,000-room hotel in the foreseeable future.  5️⃣ HSBC: Zomato worth US$5 billion The bank’s brokerage arm has valued the Indian online food delivery platform at [US$5 billion](. In January this year, Zomato was valued at US$3 billion when it raised US[$150 million]( from Ant Financial.  6️⃣ Covid-19 brought new customers to BigBasket Not only did the Indian grocery e-tailer [see an 84% increase]( in new customers during a seven-month period from January to July, the total number of times a user visited its website or app also went up 55%. Earlier this year, BigBasket [raised $110 million]( from Alibaba Group.  --------------------------------------------------------------- This 141-year-old telecom grandpa is going digital Singtel - or Singapore Telecommunications - is more than what its name suggests - and its mobile customers aren’t only in the Lion City. It also has stakes in regional telco companies in India, Philippines, Thailand, Indonesia and Australia, boasting 700 million mobile customers worldwide. But its ambitions [go beyond being a mobile, data, and internet provider](. - Making digital bets: The telecom firm has been trying its hand at digital with over a dozen offerings since 2009. In recent years, it has launched mobile wallet Dash, pumped significant money to grow its digital advertising and cybersecurity businesses, and invested in the gaming and esports industry. - The ones that got away: Not all of Singtel’s digital offerings were successful. Some of the products and services that have come and gone include messaging service Wavee, photo management app Pixable, education platform Genio, e-book reader Skoob, and ecommerce app Lyke. - All is not lost: Singtel’sDash might not be the most popular mobile wallet in Singapore, but it has a partnership with regional e-wallets and bank payment apps that enables users to make international transactions across Singapore, Thailand, and Japan - with zero fees. Its digital advertising arm Amobee also brought in US$805 million in revenue from clients like American Express, Airbnb, and Unilever in its latest financial year Dive deeper: [A history of Singtel’s successes and failures in reinventing itself]( Spread the word: [Facebook]( | [Linkedin]( | [Twitter](  --------------------------------------------------------------- More layoffs (Thanks, Covid-19!) Financial services platform GoBear [let go of 22 staff members]( recently as part of its cost-cutting measures. - 11% of the total workforce was retrenched from its offices in Singapore, Vietnam, the Philippines, and Ukraine. Those affected were part of the startup’s operations, product, and technology teams. - The job cuts came after its [acquisition]( of end-to-end digital consumer lender AsiaKredit for an undisclosed sum. Earlier in May, GoBear banked [US$17 million]( in new funding. - Not the only one. It’s a [tough time]( for everyone, so hang in there. Other companies in the region that have implemented layoffs include [Gojek]( [Grab]( [Hmlet]( and [Zilingo](.  --------------------------------------------------------------- What’s trending --------------------------------------------------------------- Misc Happening - [Creating A Successful Formula For eCommerce]( on September 9. How do you create a store that appeals to customers and grabs people’s attention? - [CMO Roundtable: How Asia’s Leading Brands Are Rebooting Growth]( on September 10. This is a private event for senior-level marketers to discuss what innovative methods they’re using to engage and retain customers. - [How Brands Can Win Customers in Today's Competitive Mobile App Market]( on September 16. The panel discussion is aimed at app creators and communities that want succeed in the competitive mobile app market. - [Blueprint for Success: Scaling Operations Across SEA]( on September 17. We break down all the information you need for a successful expansion strategy in Southeast Asia. - [Tech in Asia Virtual Conference]( from October 19 to 22. Learn and network with the biggest tech players and investors including Bukalapak’s CEO, Zoom’s global chief information officer, GGV Capital’ managing partner, and more. Hiring - [Studios Writer]( at Tech in Asia (Singapore, Singapore) - [Fraud Manager]( at PasarPolis (Jakarta, Indonesia) - [Senior System Administrator]( at WIR Global (Jakarta, Indonesia) --------------------------------------------------------------- Happy hump day! What better way to celebrate the midweek than to share this email with your coworkers? And if you have comments about our newsletter, hit us up [here](. Tech in Asia’s newsletters are handcrafted daily with love ❤️ - and sometimes powered by good coffee (or tea). ☕ Today’s edition is written by Betty Chum, with contributions from Melissa Goh and Miguel Cordon. It’s edited by Eileen. C. Ang. To ensure that you don’t miss out on the biggest tech news and analysis, add newsletter@techinasia.com to your address book, contacts, or safe sender list. Or simply move us into your inbox. Copyright © 2020 Tech in Asia, All rights reserved. Don't want to receive these emails anymore? [Unsubscribe](.