This mysterious D2C brand is bootstrapped and profitable

More: GoTo’s profitability strategy and Sea’s focus on Shopee. [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: - [This mysterious nine-figure D2C brand]( - JD.com’s earnings in the second quarter of 2023 - Other newsy highlights such as GoTo’s profitability strategy and Sea’s plans to focus on Shopee --------------------------------------------------------------- Hello {NAME} Everyone loves a good mystery, me included. Growing up, I was a connoisseur of Nancy Drew and the Hardy Boys, and I devoured all of Agatha Christie’s work as a young teen. Today’s premium story has a bit of mystery in it. My colleague Melissa spoke with Sant Qiu, the founder of Maneuver Marketing. He built a direct-to-consumer (D2C) brand that has raked in US$340 million in sales since it launched in 2018, without any VC backing. However, while I know the firm sells health supplements through online channels like Shopify and Amazon, I’ve got no idea what brand exactly this is, because Qiu specifically asked Tech in Asia not to disclose its name in this story. I can try asking Melissa very nicely if she’d be willing to let me in on this secret, but the rest of you will probably have to live with the mystery for a while longer. Fortunately, Qiu was willing to talk about how this business got so successful, and that’s honestly a lot more interesting. -- Stefanie  ---------------------------------------------------------------  THE BIG STORY [Bootstrapped and profitable: Singapore’s 9-figure D2C secret]( Instead of turning to VC firms, Sant Qiu raised “about a million” dollars by providing consultancy and training services for over four years. --------------------------------------------------------------- TRENDING NEWS [Sea ramps up Shopee investments amid Garena slump]( The ecommerce platform is focusing on livestreaming in a bid to hold off TikTok Shop while reinvesting into free shipping subsidies. [GoTo to exit entertainment biz, target budget consumers as it eyes profits]( In an earnings call, new CEO Patrick Walujo outlined a strategy to expand GoTo’s consumer base while being “extremely disciplined” about costs. [Vietnam’s Tiki appoints new CEO amid growing competition]( Venture builder Momentum Works estimates that Tiki’s market share in the country is about 4%, trailing behind Shopee (63%) and Lazada (23%). [JD.com beats revenue estimates in Q2, net income jumps 50%]( JD Retail contributed about 88% of the group’s overall net revenue for the quarter. ---------------------------------------------------------------  VISUAL STORY OF THE DAY [Org Chart: The people fuelling Ajaib’s growth]( Our Org Chart series is back with Ajaib, the first investment app unicorn in Southeast Asia. --------------------------------------------------------------- MYSTARTUP BOOTCAMP BY TECH IN ASIA SCHOOL  Take a free nine-week course to launch a tech startup in Malaysia Do you want to establish a startup in Malaysia but don't know how? MYStartup and Tech in Asia are looking for formidable founders to join our nine-week course, which will begin in September 2023. Meet and mingle with experienced founders from Southeast Asia and learn startup basics including: - The founder's path and big Idea - The MVP and growth curve - The founding team and finances - The investment process and pitch Our mentors will also be on hand during office hours to answer all your questions. You can take this course - usually priced at US$1,999 - for free thanks to MYStartup. Slots are limited, so [apply now]( for this unique opportunity! ---------------------------------------------------------------  EVENTS HAPPENING You can also check out a curated list of trending tech events [over here](. - [AD] [FIDO APAC Summit 2023]( on 28 August The event aims to highlight the importance of secure, phishing-resistant authentication methods, specifically focusing on FIDO standards and passkeys. Register now! Click [here]( to get your seats! - [Tech in Asia Conference]( from October 18 to October 19 Do you see the light at the end of this funding winter’s tunnel? 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Mark your calendar for August 25 at Byg Brewski (9, 36, 4th Floor, Vaishnavi Sapphire Centre, Tumkur Rd, Yeshwanthpur Industrial Area, Phase 1, Yeswanthpur, Bengaluru, Karnataka 560022) from 5:30 pm to 7:30 pm and connect and collaborate with fellow startup leaders. Avoid FOMO – [sign up now]( ---------------------------------------------------------------  WHO'S HIRING You can post a job [here]( or search for jobs [here](. - [Flutter Developer]( at FOREXimf Bandung, Java, Indonesia - [Associate Product Manager]( at PT Pakar Digital Global (Paper.id) Jakarta, Indonesia - [BD and Sales Manager]( at movus technologies Jakarta, Indonesia - [Helpdesk (Yogyakarta)]( at Privy ID Yogyakarta, Indonesia - [Software Quality Assurance]( at Bina Nusantara Group Tangerang, Indonesia - [Digital Marketing Executive]( at Sagara Technology Group Bandung, Java, Indonesia [ADVERTISE]( | [SUBSCRIBE]( P.S. 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