The Singapore-based social commerce startup that cut costs by 3x

More: A Singaporean career advancement platform bags a US$2 million series A round, and Atome bids Vietnam farewell. [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 spotlight: - [The social commerce firm that has reduced its total costs by 3x]( - The Hong Kong incubator that’s looking at Southeast Asia’s greentech firms - Other newsy highlights such as NodeFlair’s US$2 million series A raise and Atome’s exit from Vietnam after just a year. --------------------------------------------------------------- Hello {NAME} You’d think that, with the economy doing far from well, I’d be cutting expenses however I could. On the contrary, I’ve been splurging on things that can be categorized as “stuff that makes me happy.” These include basketball trading cards (an expensive hobby, mind you), a photobook of Hong Kong’s Kowloon Walled City, and some Slam Dunk figurines. The last one I decided to buy right after I watched the recent The First Slam Dunk movie - evidence of the power of good content and storytelling. I’ve mentioned in previous newsletters how I could never be a founder. I suppose this is another reason why. I probably wouldn’t do well trying to steer a company through the current rough waters. That’s quite unlike the startup profiled in today’s feature story. Raena managed to cut its costs by 3x and is on course for profitability. Read on to find out more. -- Winston  ---------------------------------------------------------------  THE BIG STORY [This social commerce firm cut its costs by 3x – here’s how]( After making tough calls, Singapore-based Raena nearly tripled its revenue and improved its gross margins in 2022. --------------------------------------------------------------- TRENDING NEWS [HK incubator eyes Southeast Asia for greentech investments]( The Mills Fabrica has set aside a maximum ticket size of US$3 million for each of its investments. [IGrow responds to lawsuit, OJK chimes in]( Former retail lenders at the Indonesian agricultural financing startup are said to have suffered losses amounting to around US$33.4 million. [NodeFlair bags $2m to support tech hiring in Asia]( The SG-based startup counts companies like Nvidia, Dyson, Shopee, Alibaba, and Google among the recruiters on its platform. [BNPL major Atome confirms exiting Vietnam]( Atome entered Vietnam in April last year, starting with a pilot with over 20 retail partners. ---------------------------------------------------------------  VISUAL STORY OF THE DAY [Spotify’s focus on premium pays off]( The Swedish audio-streaming giant is reportedly doubling down on its premium offering with a new higher-level tier. ---------------------------------------------------------------  TECH IN ASIA'S FOUNDERS MEETUP: THAILAND  Jump in and share the ups and downs that you’ve experienced as a founder Do you wish there was a collaborative platform for founders to exchange their insights on overcoming setbacks during their startup journeys? We’ve got just the event for you. Mark your calendar for July 26 and join us in the heart of Bangkok at theCOMMONS for our networking event with founders from the Tech in Asia community. Learn how others dealt with challenges in their businesses and share your own experiences. 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That’s why this year’s Tech in Asia conference’s theme is Southeast Asia: A Bright Spot in the Tech World - signaling how the region can provide hope and guidance for the tech sector amid some troubling times. Hosted in Jakarta from October 18 to October 19, we’re excited to bring you a great lineup of speakers, thought-provoking sessions, and other activities. Click [here]( to get your early bird tickets. ---------------------------------------------------------------  WHO'S HIRING You can post a job [here]( or search for jobs [here](. - [Front End Enginer]( at StafBook Jakarta, Indonesia - [Sales Executive - Project Backup dan Integrasi CCTV]( at Arupa Cloud Nusantara Jakarta, Indonesia - [Associate Product Manager / Researcher]( at Finblox Jakarta, Indonesia - [Merchant Acquisition (Sales)]( at Jubelio Jakarta, Indonesia - [Community Lead - Jakarta]( at Innovation Factory Jakarta, Indonesia - [ETL Developer]( at IDstar Cipta Teknologi 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? 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