Heavy is the crown that Shopee wears

Check out our top articles for the week. [Read from your browser]( Top Stories of The Week Welcome to Tech in Asia's free Sunday newsletter! Get full access to our subscribers-only premium content and other insightful analysis on the big and messy topics of Asia’s tech and startup community by [registering here](. Hello {NAME} When Sea's third-quarter results came out, the conclusion was that the tech giant is not out of the woods yet. But the numbers are encouraging, particularly for Shopee - enough to justify the tough decisions it made (layoffs, market exits) earlier this year. I'm sure Sea's management is happy with the results, but after Shopee’s [numbers came out]( it felt as if the entire tech world, too, let out a collective sigh of relief. It just goes to show just how Shopee's struggles (as well as its wins) reverberate beyond its four walls: Whatever's happening to the ecommerce giant will impact not just the people inside Shopee but also the buyers and sellers on their platform, their competitors, and ultimately, the health of the region's entire ecommerce space. Is it fair to put that burden on Shopee? Or, on the flipside, is it right for a seed-stage startup to be affected by a company it (mostly) has nothing to do with? Maybe not. But it's understandable. In other words, if Shopee - given its size, market share, and war chest - is struggling, then what hope does the rest of the sector have? For now, it seems that the worst has passed - though with the global economy the way it is, you can't really be sure. In the earnings call, Sea CEO Forrest Li said he is mindful of potential macro headwinds. As for the rest of us, our eyes are inevitably trained on his company. -- [Putra Muskita]( journalist at Tech in Asia  --------------------------------------------------------------- TOP STORIES THIS WEEK 1️. [Shopee rights the ship – for now]( The ecommerce giant has come through the first phase of the storm. Can it stay on track for 2023? 2. [Can Carsome break even in 2023?]( The used-car platform plans to go back into the black after an eventful 2022. 3. [Carousell posts $49.5m in revenue in 2021 as growth slows]( In 2021, the classifieds giant laid foundations for recommerce, which will pave the way for its next phase of growth as it heads toward profitability. 4. [Making sense of Malaysia’s new PM and tech reforms]( Uncertainty remains as the country awaits the formation of its new government. 5. [Tracking layoffs across Asia’s startup ecosystem (Updated)]( Several startups are dismissing staff to stay afloat as headwinds hit Asia. This layoff tracker is keeping tabs on marching orders. 6. [GoTo takes a knife to costs, but market remains unconvinced]( With cost-cutting measures in place, GoTo can accelerate its plans for profitability. 7. [Why Vietnam is buying into BNPL now, not later]( BNPL players see a huge opportunity in the country, where consumption is rising and only 4% of the population own credit cards. But can they deliver? 8. [CapCut could be ByteDance’s next cash cow]( TikTok’s sister app CapCut has dominated its category for the past year, but can the video-editing platform further monetize its audience? 9. [This deck helped MoEngage secure $77m this year]( The company said it engages over 1.2 billion customers a month, with over 3.2 billion messages sent daily worldwide. 1️0. [Malaysia: No country for tech heroes]( Political turmoil and red tape continue to plague Malaysia. --------------------------------------------------------------- WHO'S HIRING  You can post a job [here]( or search for jobs [here](. [logo] [Tech Lead (Remote)]( at AwanTunai Jakarta, Indonesia IDR 35,000,000 – 50,000,000 [logo] [Lead Product Manager]( at Jakmall Jakarta, Indonesia IDR 18,000,000 – 25,000,000 [logo] [Human Resources Manager]( at PT Samala Serasi Unggul Jakarta, Indonesia IDR 13,000,000 – 18,000,000 [logo] [Backend Engineer]( at Female Daily Network Jakarta, Indonesia Yogyakarta, Indonesia [logo] [Creative Manager]( at Populix Jakarta, Indonesia IDR 10,000,000 – 18,000,000 [logo] [.Net Developer - Multifinance Industry]( at SIGMATECH Jakarta, Indonesia IDR 9,000,000 – 12,000,000 [ADVERTISE]( | [SUBSCRIBE]( | [HIRE]( | [FIND 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. 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](  ---------------------------------------------------------------  Tech in Asia’s newsletters are handcrafted daily with love - and sometimes powered by good kopi. Copyright © 2022 Tech in Asia, All rights reserved. 63 Robinson Road, Singapore 068894