Putting Carro's numbers in context

More: Alibaba’s cloud unit eyes an IPO, and VNG’s gaming unit sets up shop in Taipei. [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](. --------------------------------------------------------------- IN FOCUS In today's newsletter, we look at: - [The story behind Carro’s “record” EBITDA as its fintech and other verticals shine]( - India-headquartered Swiggy turns profitable - Other newsy highlights such as Alibaba’s cloud unit eyeing an IPO and VNG’s game unit opening an office in Taipei. --------------------------------------------------------------- Hello {NAME} Late last night, around the time children grudgingly pack their schoolbags and freak out about pending homework, my niece called over the phone. “What’s the Bombay Stock Exchange? What’s business journalism? Can you give me two examples of investigative journalism?” The questions came fast and heavy for a media studies assignment she was already running late for. At that point, all she wanted was a short and sweet crash course of everything that would otherwise take her weeks to fully understand. Much of our lives are a search for explainers that distill things and give them to us in modern-day Twitter threads or old-school gift-wrapped packages. Today’s premium pick is one such package - it demystifies Carro’s numbers and puts them into context. -- Nikita  ---------------------------------------------------------------  THE BIG STORY [Carro sees “record” EBITDA as its fintech and other verticals get spotlight]( Carro’s operating losses widened in FY 2022 but the company says it’s on track to achieve a record EBITDA in its current financial year. --------------------------------------------------------------- TRENDING NEWS [Food delivery major Swiggy says it’s profitable after 9 years]( CEO Sriharsha Majety calls this a milestone for the company and the sector globally. [VNG Games sets up publishing base in Taipei]( The gaming unit of VNG said that it’s gearing up to enter new markets in Southeast Asia, Latin America, and the Middle East. [Alibaba to take cloud arm public within next 12 months]( The Chinese tech giant is also gearing up for the IPOs of its fresh produce business Freshippo and logistics unit Cainiao. [Malaysian proptech firm bolsters local presence with merger]( LiveIn is “aggressively pursuing acquisition opportunities” in the country and around the region, said CEO Keek Wen Khai. ---------------------------------------------------------------  LISTICLE OF THE DAY [GoTo Group’s financial health in 4 charts]( We analyze the financial figures reported by GoTo Group, Indonesia's most valuable tech company. ---------------------------------------------------------------  PRESS PEEKS The following press releases were published as they were received, without any editing from the Tech in Asia team. You too can publish your own press release on Tech in Asia by simply filling in [this form](. Our team will get back to you by the next business day. - Zoom - [Explore the intersection of AI and human connection at Zoom’s Work Transformation Summit]( Join Zoom on May 25, and explore how AI affects the ways people collaborate and connect in the workspace. Register now! - ChargeSini - [ChargeSini Successfully Raises Over RM5 Million In Funds]( Local electric vehicle (EV) charging solutions start-up ChargeSini (ChargeHere EV Solution Sdn Bhd) is set to grow bigger in 2023. ---------------------------------------------------------------  WHO'S HIRING You can post a job [here]( or search for jobs [here](. - [Senior Back End Engineer (JULO)]( at Dealls Jakarta, Indonesia - [Asset Supervisor (Mandarin Speaker)]( at Flash Express Jakarta, Indonesia - [Product Manager]( at Jakmall Jakarta, Indonesia - [Enterprise Sales]( at Gulf Test Jakarta, Indonesia - [Business Development]( at Gokomodo Jakarta, Indonesia - [Senior Flutter Developer]( at SIGMATECH 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. Tech in Asia thanks our partners for supporting our newsletters. Sponsorship has no influence on editorial content. 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 © 2023 Tech in Asia, All rights reserved. 63 Robinson Road, Singapore 068894