The supporting cast in Indonesia’s ecommerce boom

More: A million-mile battery for electric vehicles, and China’s big tech goes under even more scrutiny [Read from your browser]( Daily Newsletter Hello {NAME} I love online shopping. There’s just something magical about buying an item online and having it appear at my doorstep a few days later, though my credit card statement might beg to differ. Even unwrapping the package to get to my purchase makes me almost feel like it’s Christmas all over again, especially when it’s something I’m particularly excited about. Ecommerce is on the rise all over the world, but it would be nothing without its supporting cast. From ecommerce enablers that help traditional businesses go online to logistics players that make sure your orders get to you in one piece, these supporting verticals are on the up and up. Today we look at: - The logistics players and ecommerce enablers [in Indonesia]( - Grab’s demands in its potential merger with Gojek - Other newsy highlights such as a million-mile battery for electric cars and how the death of a Pinduoduo employee has increased scrutiny of China’s big tech firms  ---------------------------------------------------------------  PREMIUM SUMMARY  The companies behind the scenes of the ecommerce boom Ecommerce is one of the fastest-growing industries in Indonesia, so it’s no surprise that verticals supporting the sector - namely logistics and ecommerce enablers - are on the rise as well. As a result, we decided to map them out, exploring the key players and the funding that’s gone into the space. - On the up and up: Funding into the logistics and ecommerce enablers in Indonesia has risen tremendously in recent years, going from US$89.2 million in 2018 to US$517.63 million in 2020. - Big bucks: Case in point: Waresix, which provides on-demand warehouse services, sits at the top of our funding records, having secured US$77.5 million in Series B funding last year. - It’s a motley crew: There are many companies trying to get a slice of this pie, from legacy third-party logistics players like FedEx and DHL to new ecommerce enablers like Sirclo and N-Squared. Read more: [The key logistics players and enablers of Indonesia’s ecommerce industry](  ---------------------------------------------------------------  STARTUP SPOTLIGHT  Grab’s big demands Talks of a merger between Grab and Gojek, Southeast Asia’s decacorn super apps, are well underway. However, Grab’s got [some requests]( for how this deal should look like. - A big ask: Grab has requested that its founder Anthony Tan be the de facto “CEO for life” of the potential merged entity. Reports say that other demands include giving Tan significant voting power in the merged company, veto rights over board decisions, and a say in his compensation. - Slicing the pie: Gojek has asked for a 40% share in the combined entity, but Grab thinks the amount is “fundamentally too much” as it believes its finances are more robust than Gojek’s. - It’s still up in the air: The companies have been working out a merger deal for nearly a year already, but while investors on both sides support the move, any final agreement is still months away and either party may still exit the deal.  ---------------------------------------------------------------  LIVE EVENT What founders need to know about exit strategies How early should founders start preparing for exits? Exits matter because that’s when founders, their teams, and investors cash out their many years of hard work. Strangely, though, it’s a topic that is rarely discussed and thus very little is known about it. To explore the subject, Tech in Asia will be holding a [masterclass on preparing an exit strategy]( with Mark Strecker, partner at Sansa Advisors. Here, we will delve into how a startup can prepare for an exit, how to understand the different exit paths, and how mergers and acquisitions actually work. You can purchase a [one-time pass]( or [subscribe]( to attend this and future events for free.  ---------------------------------------------------------------  QUICK BYTES  1️⃣ Chinese telco shares drop after delisting announcement The shares of the three biggest telcos in China saw [their shares drop by as much as 5%]( in Hong Kong after the New York Stock Exchange announced that it would delist China Mobile, China Telecom, and China Unicom Hong Kong. This follows an executive order by the US government to block investment in 31 firms that it says are owned or controlled by China’s military.  2️⃣ Make way for the million-mile battery Chinese battery products manufacturer Contemporary Amperex Technology, which makes batteries for electric vehicle (EV) companies such as Tesla, has announced that it is ready to produce electric car batteries that [last for 16 years and 2 million kilometers](. Given that concerns about batteries having to be replaced after only a few years have held back consumer adoption of EVs, the arrival of this mega battery could turn the tides for EV manufacturers.  3️⃣ Yet more scrutiny for China’s big tech firms The recent death of an employee at Chinese ecommerce platform Pinduoduo [has renewed criticism]( of the “996” work culture commonly practiced by the country’s tech companies. According to Pinduoduo, the employee died after working past midnight last week, although it did not provide any additional details. This is an additional challenge that Chinese tech companies are facing, on top of increased scrutiny from Chinese regulators surrounding anti-competitive business practices and efforts by the Trump administration to curb their growth.  4️⃣ A focus on India South Korean financial services company Mirae Asset Group is looking to widen its footprint in India [with the launch of a US$35 million fund]( for early-stage startups in the country. Mirae has previously invested in Indian startups such as BigBasket and Zomato.  5️⃣ Foxconn is foraying into EVs? According to people familiar with the matter, Chinese manufacturer Foxconn - best known as a supplier of Apple’s iPhones - is in talks [to invest]( in embattled Chinese electric vehicle startup Byton. This marks a large bet by the company on the EV space.  ---------------------------------------------------------------  WHO'S HIRING - [QA Engineer]( at Aaqua (Singapore, Singapore) - [Sales Canvassing & Marketing]( at Lacak.io (Jakarta, Indonesia) - [eCommerce Analyst]( at theAsianparent (Jakarta, Indonesia)  ---------------------------------------------------------------  SHARE WITH YOUR FRIEND Don’t leave your co-workers behind! Share this with them so they can keep up with what’s going on in the region’s tech scene. Feel free to [drop us some feedback]( if our newsletter today got you feeling smarter (or if it didn’t).  ---------------------------------------------------------------  Thanks for reading! Tech in Asia’s newsletters are handcrafted daily with love - and sometimes powered by good kopi (or tea). [ADVERTISE]( | [PREMIUM]( | [JOBS]( P.S. 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. Was this forwarded to you? You can read this everyday when you sign up [here](. Don't want to receive these emails anymore? [Unsubscribe](.  ---------------------------------------------------------------  Today’s edition is written by Stefanie Yeo, with contributions from Putra Muskita and Deepti Sri. It’s edited by September Grace Mahino. Copyright © 2021 Tech in Asia, All rights reserved. 51 Bras Basah Rd, #05-5061, Singapore 189554