Making Pinduoduo’s $119m business model work in India

More: Pony.ai puts its IPO plan on hold and MightyJaxx raises US$10 million in a Tencent-led round [Read from your browser]( Daily Newsletter Hello {NAME} , I recently found out that I’m a shopping enabler. Here’s how to find out if you’re one too: Do you often encourage friends or family members to purchase a product by saying, “Yes, you deserve to treat yourself"? Because that’s exactly me. A friend would come to me feeling unsure about buying a keycap for US$70 dollars, only to make the purchase after talking to me. And she didn’t buy just one keycap - she snapped up a a couple of them since as a supportive friend, I got a few too to hit that free delivery together. What I described is basically social commerce, a business model popularized by Pinduoduo in China. And a startup in India is planning to replicate that success. -- Betty  --------------------------------------------------------------- THE BIG STORY [The Pinduoduo model takes hold in India]( Y Combinator-backed Gobillion has taken a page out of Pinduoduo to encourage group buying in rural towns in India.  ---------------------------------------------------------------  TRENDING NEWS [Baidu’s revenue grew by 20% in second quarter boosted by its AI business]( Baidu registered a net loss of US$90 million in the quarter, primarily due to marking down the value of its stake in Kuaishou, whose shares sank by 28%. [Tencent leads $10m round of Singapore-based collectibles startup]( With the latest funding round, Mighty Jaxx has raised nearly US$14.8 million to date. [SoftBank, Accel-led $650m round puts India’s Emeritus in unicorn club]( The fresh fund lifts the upskilling startup’s valuation to US$3.2 billion. [Pony.ai shelves US listing amid fears of China’s tech crackdown]( Pony.ai planned to merge with a US-based SPAC but feared pushback from Beijing if it made its debut in the US market, sources told Reuters. [Chinese regulators to increase scrutiny of local insurtech firms]( According to a notice seen by Bloomberg, failure to comply with these orders would result in “severe punishment.” [Tencent, Google-backed AI pharma startup secures $400m in series D round]( The new funds come less than a year after XtalPi raised US$300 million in a series C round, bringing its valuation to over US$2 billion. ---------------------------------------------------------------  EVENTS HAPPENING You can also check out a curated list of trending tech events [over here](. - Startup Arena Pitch Battle - [Submit your application]( today and stand a chance to win more than US$24,500 in prizes! - *Live* How to build an authentic leadership style on August 19 - [Get your seat today]( - Balancing Security & Customer Experience in the Digital World on 25 August - [RSVP now]( - *Live* How to catch the content economy boom on October 13 - [RSVP today]( - *Live* Making something people love: The Dana way on October 13 - [RSVP today]( - Tech in Asia Conference: Southeast Asia Global Debut on October 12 to 14 - [Grab your early-bird tickets](  ---------------------------------------------------------------  WHO'S HIRING You can post a job [here]( or search for jobs [here](. - [Account Manager]( at StyleDoubler Kuala Lumpur, Malaysia - [Full Stack Programmer]( at Mandreel Jakarta, Indonesia - [Junior Graphic Designer]( at Warung Pintar Jakarta, Indonesia - [Operations Manager - Surabaya]( at Lalamove Logistik Indonesia Surabaya, Indonesia - [Frontend Developer]( at Jakmall Jakarta, Indonesia - [Social Media Associate]( at Lalamove Logistik Indonesia Jakarta, Indonesia [ADVERTISE]( | [SUBSCRIBE]( 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. Too many emails? Switch to a different frequency or get new content through our [preference center]( or [unsubscribe](. You can also break our hearts and remove yourself from all Tech in Asia emails over [here](  ---------------------------------------------------------------  Copyright © 2021 Tech in Asia, All rights reserved. 51 Bras Basah Rd, #05-5061, Singapore 189554