More: The secrets behind Temu's rapid rise and Ant Groupâs mammoth R&D splurge. [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 Asiaâs tech and startup community by [registering here](. --------------------------------------------------------------- IN FOCUS In today's newsletter, we spotlight: - [How roll-ups have adapted to the turning tides of ecommerce](
- The layoffs and reorganization of GoToâs consumer lending team in India
- Other newsy highlights such as the secrets behind Temu's rapid rise and Ant Groupâs mammoth R&D splurge --------------------------------------------------------------- Hello {NAME} âThereâs a âGame of Thronesâ vibe around this entire industry,â Juozas Kaziukenas, CEO of Marketplace Pulse, a firm which tracks ecommerce aggregators, told Bloomberg last month. Fans of the HBO superhit series would know thatâs not a good thing - thereâs a lot of drama waiting to unfold and blood to be shed. In 2021, investors poured over US$12 billion into this new breed of startups that emerged from the shadows of ecommerce pioneer Amazon. With a focus on acquiring sellers on the US giantâs third-party marketplace, roll-ups rose to prominence following the seismic consumer shift to online buying during Covid-19 lockdowns. These firms went on a debt-fueled splurge. For instance, Thrasio, the nascent industryâs poster child, snapped up more than 200 brands. But the "spray and pray type of investing," as Neso Brands CEO Bjorn Bergstrom puts it in today's featured piece, is no longer in vogue. Funding has mostly dried up for these aggregators as cooling ecommerce sales led to a punishing 2022. While the signs increasingly point toward consolidation as a means of survival, todayâs premium story also explores the sluggish pace of acquisitions and the different ways these roll-ups have responded to the ecommerce slowdown -- Shravanth
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THE BIG STORY [Roll-ups 2.0: Changing winds prompt shifts in ecommerce aggregator model](
Under the Aggregator 2.0 model, firms will have to prove they can grow without resorting to simply buying up brands. --------------------------------------------------------------- TRENDING NEWS
[GoTo shuts down Pune office in India, slashing 30 jobs](
The company said the move is part of a strategic reorganization of its consumer lending team.
[Why TikTok, Shopee, and Lazada are following in Temuâs footsteps](
Temuâs rapid rise has forced its more established competitors to take notice of the companyâs âall-inclusiveâ version of the consignment model.
[Prenetics hires ex-Fave boss to lead consumer DNA testing arm](
Joel Neoh recently stepped down as CEO of Fave, a fintech firm he co-founded in 2015.
[Ant Group doubles R&D spending to $2.9b in 3 years](
The companyâs green computing technologies contributed to a reduction of over 62,100 tonnes of CO2e last year. ---------------------------------------------------------------
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LISTICLE OF THE DAY [20 top angel investment networks in Asia](
Here's our regularly updated list of Asia's top angel investment networks. ---------------------------------------------------------------
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TECH IN ASIA'S FOUNDERS MEETUP: VIETNAM
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Join us and share the hardest challenges youâve faced as a founder If youâre an entrepreneur based in Vietnam, youâre invited to Tech in Asiaâs Regional Founders Meetup, which will be held on June 28 at The Sentry in Ho Chi Minh City (2/F Sonatus Building, 15 Le Thanh Ton, District 1) from 5:30 p.m. to 7:30 p.m. Join us and share the hardest challenges youâve faced as a founder. To help you find solutions, weâll introduce you to fellow founders who have been there and done that. Starting up doesnât have to be a lonely journey. [Register]( for this exclusive event here today. Tickets are priced at US$12.50 per person, inclusive of light bites and one drink. Slots are limited and are available on a first come, first served basis. Thanks to our official event partners - AWS, CleverTap, Cooley, D.Camp, Sinarmas Land, Singapore Global Network (SGN), and Quest Ventures - and our community partners - WeWork and Gobi Partners - for making this meetup possible. ---------------------------------------------------------------
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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.
- klink.cloud -Â [klink.cloud and Ooredoo Business announce strategic partnership to offer omnichannel contact center solutions for businesses across Southeast Asia](
klink.cloud and Ooredoo Business Partner to Offer Omnichannel Contact Center Solutions for Businesses in Southeast Asia- Oxalus -Â [Oxalus, The NFT Social Commerce Platform Raises $1,1M From IDGCVB & Kyber Ventures](
An NFT-focused blockchain startup recently raised $1,1 million in seed funding led by IDG Capital Vietnam Blockchain and Kyber Ventures. ---------------------------------------------------------------
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EVENTS HAPPENING You can also check out a curated list of trending tech events [over here](.
- [Tech in Asiaâs Founders Meetup: Vietnam on June 28](
Our networking event, Founders Meetup: Vietnam, is happening in Ho Chi Minh City on June 28 at The Sentry, 2/F Sonatus Building. Join us and share the hardest challenges youâve faced as a founder. To help you find solutions, weâll introduce you to fellow founders who have been there and done that. Register today! ---------------------------------------------------------------
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