Shopee woes show even tech giants not immune to SEA layoff fever

Check out our top articles for the week [Read from your browser]( Top Stories of The Week Hello {NAME} At the start of the week, a friend working at Shopee reached out to me out of the blue and said that he was fearing for his job. Moments earlier, his company had held a town hall meeting, announcing imminent layoffs across multiple markets. From his words, I could sense an element of worry but also a touch of shock. Tech startups are not the best bet if job security is high on your agenda. But if any company in Southeast Asia is able to offer some sort of stability, you would assume it would be Shopee - the ecommerce unit of Sea Group, the region's largest tech firm. But we're living in extraordinary times, so surprises are to be expected. My friend, in the end, was spared, but my thoughts and support go to those who have not been as lucky. As several startups shut their windows on their staff, others are opening doors to those laid off. Here is Tech in Asia’s list of [tech firms hiring across Asia](. -- [Ardi Wirdana]( journalist at Tech in Asia --------------------------------------------------------------- TOP STORIES THIS WEEK 1️. [Shopee set for mass layoffs]( The decision was announced to employees of Shopee in an international town hall meeting led by an executive from its parent company Sea. 2. [How GrabMaps plans to beat Google Maps in $1b sweepstake for SEA dominance]( Grab’s new B2B mapping service is well-placed to win market share, but don’t expect the numbers to move the needle. 3. [Lessons from GoTo’s IPO and financial results so far]( The GoTo listing and its performance holds lessons for both investors and tech companies planning an IPO. 4. [Why SEA’s food bots are outshining Silicon Valley at the table]( A narrower game plan amid a favorable macro environment has set SEA’s food robotics players up for success. But they’ll have to serve more than novelty. 5. [Org chart: The people behind Boost]( We look at the captains steering Boost as it transforms itself from an e-wallet provider to a fintech group. 6. [TreeDots to shut down group-buying service this month]( The development comes almost six months after the platform raised US$11 million in series A funding. 7. [Indonesia’s social commerce startups double down on rural FMCG space]( While several players including Super and Dagangan have raised fresh funds, others have fizzled out. 8. [Animoca’s meteoric rise from zombie to $5b Web3 empire]( Animoca wasn’t going anywhere just a few years ago. Then it became a multibillion-dollar crypto investor that’s closing deals at a stunning clip. 9. [Can Stepn, the new hottest crypto project, go the distance?]( Stepn wants to take move-to-earn apps into the mainstream, but not everyone is convinced that’s a step in the right direction. 10. [Exclusive: True Global Ventures closes $146m fund for Web3 startups]( The new fund will look to invest up to US$25 million into each of six to eight companies within three years. --------------------------------------------------------------- EVENTS HAPPENING You can check out a curated list of trending tech events [over here](. - *Event* [Fintech Forum]( on July 7 Join us at this year's Fintech Forum, hosted by Tech in Asia and Amazon Web Services (AWS). We've brought together the fintech industry's leading technical experts and innovators to discuss the most important issues facing the sector, dive into the latest trends and opportunities to scale successful business, and share their strategies for staying competitive in the dynamic fintech space. - *Event* [SYNC]( on Aug 3rd-5th, Conrad Bali Tech in Asia is excited to host our first closed-door, in-person networking summit in two years at Conrad Bali, Nusa Dua. 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