Foodpanda vs. natural selection

More: Higher marketplace commission fees in Thailand could push firms to go D2C. [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: - [Job cuts and a potential sale at Foodpanda]( - What looming new ecommerce rules in Indonesia might mean for TikTok Shop --------------------------------------------------------------- Hello {NAME} My first taste of online food delivery was with Foodpanda. I come from a pretty rural part of Northern Ireland, where getting hot food delivered down our winding country lane was an impossibility. So moving to Hanoi and having a world of noodles, pizza and bubble tea at my fingertips was an eye-opening and stomach-expanding experience. Of course, Foodpanda exited Vietnam in 2015, when its business was sold to a more successful competitor, Vietnammm, which itself was later swallowed up by Woowa Brothers in 2019. Foodpanda seemed incredibly convenient to me at the time, but it didn’t have many strong rivals in Vietnam’s food delivery space eight years ago. The competition has gotten considerably fiercer since then, not just in the country but also across Southeast Asia. Maybe that increased competition played a part in Foodpanda's decision to slash its workforce across Asia Pacific and enter talks for a supposed sale. Natural selection could be at play for this breed of panda. -- Peter  ---------------------------------------------------------------  THE BIG STORY [Foodpanda slashes APAC workforce as potential sale looms]( "The need to streamline our operations to become leaner and more agile remains critical," the food delivery firm told Tech in Asia. --------------------------------------------------------------- TRENDING NEWS [Series SEA: Who’s investing in the region’s AI startups?]( We’ve compiled a list of investors that are pouring money into Southeast Asia’s AI startups. [Revised ecommerce rules could decide TikTok Shop’s fate in Indonesia]( Expected this week, the new rules come as President Joko Widodo recently said that social commerce platforms have played a role in the downslide of MSMEs. [Grab shutters AutoInvest, Earn+ products]( GrabInvest has advised users to take out their money from both products, which are only available in Singapore, by October 13. [Indonesia’s Jokowi bans direct transactions on social media]( The president’s decision will affect over 6 million sellers and nearly 7 million affiliate creators on TikTok Shop, TikTok Indonesia said. ---------------------------------------------------------------  VISUAL STORY OF THE DAY [Mapping out SEA’s digital defenders (update)]( The region's cybersecurity sector has seen a decline in investments over the last two years due to a shift in investor appetite. --------------------------------------------------------------- TECH IN ASIA CONFERENCE 2023 One week left to take part in a series of speedy, purpose-driven, 10-minute conversations with potential investors to get some quick insights into how to improve your startup and maybe even secure some funding. [Sign up for our Speed Dating segment]( to meet participating investors such as Braxton Capital, Line Corp, Monk's Hill Ventures, Founders Launchpad, Malaysia Venture Capital Management, and more. Secure your startup pass [here](. ---------------------------------------------------------------  EVENTS HAPPENING You can also check out a curated list of trending tech events [over here](. - [Tech in Asia Conference]( from October 18 to October 19 Do you see the light at the end of this funding winter’s tunnel? We do, and we believe Southeast Asia is that very light. 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 limited first-release tickets. ---------------------------------------------------------------  PRESS PEEKS The following press releases were published as they were received, without any editing from the Tech in Asia team. 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Our team will get back to you by the next business day. - MediaX Agency - [Earn Alliance Launches the Biggest Web3 Game Mint Marathon: Over 40,000 Free NFTs Featuring 16 Games from Binance, Polygon, and Immutable]( Earn Alliance, the largest web3 game aggregator and discoverability platform, is excited to announce the first-of-its-kind Mint Marathon event. - NEAR Foundation for Cosmose AI - [Cosmose AI, valued at $500 million, unveils KAIKAINOW: A new innovation in personalised smartphone lock screen technology]( User engagement with lock screen content is rewarded with KAI-CHING (KAIC), Cosmose AI’s token, which is integrated with KAIKAINOW built on NEAR. - Huawei - [Huawei and CAICT jointly launch Xinghe Network White Paper, propelling rapid development of AI industry]( Huawei Xinghe Network White Paper delves into the development trends, network architecture, and key technological innovations of AI services. ---------------------------------------------------------------  WHO'S HIRING You can post a job [here]( or search for jobs [here](. - [Senior Full Stack Developer]( at LiquidX Studio Singapore, Singapore - [Operations Strategy Analyst]( at Gokomodo Jakarta, Indonesia - [Senior Fullstack Engineer]( at Recoolit Jakarta, Indonesia - [Senior Scrum Master]( at TurnkeyID Bandung, Java, Indonesia - [Finance, Accounting & Tax]( at Scout.inc Bogor, Indonesia - [Business Analyst]( at Moladin Digital Indonesia Jakarta, Indonesia [ADVERTISE]( | [SUBSCRIBE]( P.S. 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