Will Bondee be more than a flash in the pan?

More: Grab prepays $600m in debt and SG launches probe into Terra. [Read from your browser]( Daily Newsletter --------------------------------------------------------------- Welcome to Tech in Asia's free Daily Newsletter! Get full access to our subscribers-only Daily Newsletter and other insightful analysis on the big and messy topics of Asia’s tech and startup community by [registering here](. --------------------------------------------------------------- Hello {NAME} Knowingly or unknowingly, each of us has likely been part of a fad at some point. Intermittent fasting or the Atkins, Keto, and Paleo diets are just a few short-lived crazes in fitness. More bizarre trends, such as latex balloon pants, have popped up in fashion. Fads have sometimes been leveraged for good. For instance, the Ice Bucket challenge of the mid-2010s spurred swarms of people to donate to support research into [ALS]( and provide care for those afflicted, raising over US$220 million worldwide. Evidently, these momentary obsessions spring from seemingly nowhere, and businesses - especially in the social media space - can also generate these fleeting trends. My mind immediately darts back to the frenzy that Clubhouse created at the height of the pandemic in 2021. The audio-only app, which was designed in a virtual conference hall setting, saw its user base grow 10x month over month at the time. However, active users have declined over 60% since its peak, as Clubhouse failed to grasp the role of a social platform and lacked a clear path to profitability. Bondee, a wildly popular social app, appears to be heading down a similar road. Today’s featured piece highlights how the platform, which initially captured hearts in Southeast Asia with its cute 3D avatars and slick social features, is already looking a little like a fad. Further, with question marks over monetizing its business model, the company risks becoming another blip on the radar. The premium story assesses some options Bondee has on its table to turn its fortunes around. -- Shravanth P.S.: If you’re an entrepreneur looking for funding, [fill out this form]( to get your company featured on our list of fundraising startups.  ---------------------------------------------------------------  THE BIG STORY [With its declining growth, is Bondee just a fad?]( The wildly popular social app risks becoming another blip on the radar, but it still has a few cards to play. --------------------------------------------------------------- TRENDING NEWS [Sea Group reports positive net income in Q4, sales beat estimates]( Sea Group’s first quarterly profit comes after the company had dramatically reduced expenses throughout 2022. [Indonesia offers $110m in incentives to boost EV adoption]( Subsidies will be given to 200,000 e-bikes and 35,900 electric cars, and cover the conversion of 50,000 gas-fueled motorcycles until the end of 2023. [SG launches probe into Terra after $40b crypto crash]( Terraform Labs and founder Do Kwon are also facing probes in the US and South Korea, Bloomberg noted. [Grab prepays $600m in debt]( The Singapore-born tech giant had secured a term loan facility of US$2 billion in 2021, Bloomberg noted. [Unfiltered: Maria Li, COO of Tech in Asia]( Get an unfiltered behind-the-scenes look at Tech in Asia COO Maria Li’s life. [Capital A names CEO, CFO of AirAsia Digital]( AirAsia Digital has “more room for growth” and aims to become one of the industry leaders in Southeast Asia and beyond, new CEO Colin Currie said. ---------------------------------------------------------------  TECH IN ASIA'S PRODUCT DEVELOPMENT CONFERENCE 2023 Quote of the day from our PDC speaker Yellow.ai's CTO, Jaya Kishore Reddy Gollareddy, believes in the transformative power of artificial intelligence and its ability to unlock new levels of creativity. Want to hear more insights from him? Join him live at the upcoming Product Development Conference, a Tech in Asia event that will be held on May 16 to 17, 2023. The early bird sale ends in less than a week! Secure your tickets [here](. ---------------------------------------------------------------  EVENTS HAPPENING You can also check out a curated list of trending tech events [over here](. - [Tech in Asia’s Product Development Conference 2023]( from May 16 to May 17 Tech in Asia’s Product Development Conference is back! This year’s edition, which will be held in person in Jakarta, will feature over 20 industry leaders, experts, and innovators sharing the latest trends and strategies that can accelerate product development growth. [Register now]( and you can get 50% off. This early bird promo is available for a limited time only, though, so don’t miss out! - [AD] [Indonesia Industry Solutions Day]( on March 9 Calling all Indonesian startups! Find out more about how AWS’ cloud solutions can help you unlock new opportunities for digital transformation and innovation at the inaugural Indonesia Industry Solutions Day. The event, which will be held at JW Marriott Hotel in Jakarta, will cover topics such as security, data analytics, and scalability across four key industries: financial services, healthcare, media, and manufacturing. Sign up today! ---------------------------------------------------------------  WHO'S HIRING You can post a job [here]( or search for jobs [here](. - [Head of Sales]( at Refocus Jakarta, Indonesia - [Senior Software Developer]( at Mail Blaze Indonesia Bulk Terminal, Indonesia - [General Manager]( at Netweb Pte. Ltd. Jakarta, Indonesia - [Tax Manager]( at Female Daily Network Jakarta, Indonesia - [Senior Backend Engineer]( at Illume Indonesia Bulk Terminal, Indonesia - [Senior Software Engineer (Senior Software Developer)]( at AKAR INTI ENTERPRISE Jakarta, Indonesia [ADVERTISE]( | [SUBSCRIBE]( P.S. 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