Making sense of the LingoAce dilemma

Check out our top articles for the week. [Read from your browser]( Top Stories of the Week Welcome to Tech in Asia's free Sunday newsletter! Get full access to our subscribers-only premium content and other insightful analysis on the big and messy topics of Asia’s tech and startup community by [registering here](. Hello {NAME} After my investigative story broke on LingoAce’s expansion troubles, which led to [hundreds of staff]( being laid off in the past year, a source told me that our representation of events wasn’t nearly as harrowing as what they felt had been put through. It’s a tough balancing act to reconcile varying viewpoints, especially when sources’ versions of events deviate from a company’s official account. Personal recounts can be subjective and often emotionally charged, especially when an action cuts deep, and understandably so (not to say they are to be discredited). Meanwhile, leaders always have a reason to justify whatever actions they take. After supporting LingoAce’s aggressive expansion into new markets and products in the past three years, successive rounds of layoffs, reassurances of job security that held no weight, and minimal outplacement support provided by the firm have left a bitter taste in the mouth of many former staffers. LingoAce CEO Hugh Yao, addressing these claims in an interview with us, has justified the cuts as a necessary step amid a reorganization of the business in line with financial sustainability. The firm continues to hire in China and Malaysia as it bets on growth in the US and Europe with new subjects like English, math, and music. Still, with leading edtech firms like Byju’s coming under pressure amid rising dissatisfaction over the quality of classes, allegations of a toxic workplace culture and mis-selling practices, and concerns over its accounts - all while funding challenges loom in the current economic climate - it seems that troubles in the edtech sector are far from over. -- [Melissa Goh]( journalist at Tech in Asia  --------------------------------------------------------------- TOP STORIES THIS WEEK 1️. [‘Entire teams gone overnight’: LingoAce laid off hundreds amid expansion hurdles]( The pandemic years saw unabated spending as the Singapore-headquartered edtech firm pursued growth. Now, it’s grappling with the consequences. 2. [SG firm uses AI helps FMCG clients create new products]( SaaS platform Ai Palette now has two generative AI products to help clients in the F&B and personal care space speed up their product development. 3. [‘A fighting chance’: Why Mirxes chose Hong Kong over Singapore for its IPO]( CEO Zhou Lihan says Hong Kong offered a better valuation and a more savvy investor pool for the Singapore-based cancer diagnostics firm. 4. [Sea Group’s financial health in 8 charts]( Here are 8 charts that offer a snapshot of how Sea Group, the company behind Garena and Shopee, is faring. 5. [Org Chart: The people fuelling Ajaib’s growth]( Our Org Chart series takes a look at Ajaib, the first investment app unicorn in Southeast Asia. 6. [The good, the bad, and the ugly of Malaysia’s govtech push]( The country’s latest tech drive may sound enticing but startups should only go in with eyes wide open. 7. [This AI startup said no to VCs after ‘perplexing’ experiences with them]( Known as a “Swiss Army knife” for hate speech and other problematic content, Singapore-based Tisane Labs bootstrapped its way to profitability. 8. [Investors remain cautious despite Meesho’s profitability claims]( This August, the India-based ecommerce platform reported a sliver of a profit. But questions remain on whether it can sustain this. 9. [GoTo Group’s financial health in 4 charts]( We analyze the financial figures reported by GoTo Group, Indonesia's most valuable tech company. 10. [Surviving the funding game: how timing can make or break your startup]( Industry realities, economic conditions, and market volatility can affect the time gap between funding rounds. --------------------------------------------------------------- TECH IN ASIA VIDEO Indonesian Mukbang with Michael Lints In our new Mukbang series, we've invited several Tech in Asia Conference Speakers to get a taste of Indonesian dishes while answering some pointed questions. This time, we're joined by Michael Lints, partner at Golden Gate Ventures, who is set to speak at this year's conference about how firms can approach the Middle East and North African market. Watch the full episode [here]( Ready to indulge in his expertise and insights this October 18-19? 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