Foodpanda bids adieu to long-time leader amid potential sale

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} Foodpanda had a shaky few days recently, culminating in the exit of its long-time leader Jakob Angele. The change came weeks after parent firm Delivery Hero said it was shopping Foodpanda around for a potential sale, and after the latter confirmed layoffs in Asia Pacific to Tech in Asia. But before the announcement of Angele's stepping down, allegations were already floating around that he had leaked information on Foodpanda's discussions with Grab about a potential acquisition. The dust may have settled for now, with Foodpanda naming John Fang as its new CEO, but it will be interesting to see what will happen with the company next. It may still have surprises for us; it just appointed an interim CEO for Malaysia, after all. We'll be keeping our eyes open, and hope you'll do the same. -- [Miguel Cordon]( journalist at Tech in Asia  --------------------------------------------------------------- TOP STORIES THIS WEEK 1️. [Foodpanda replaces CEO after allegedly leaking details of Grab deal talks]( The new CEO, John Fang, worked in leadership roles for Groupon and Intel before joining Foodpanda six years ago. 2. [Malaysia’s 2024 tech budget: back to square one]( Affirmative action policies rear their ugly heads to win over the country’s largest voting base. 3. [Philippine HR tech firm Sprout inches closer to profits in 2022, revenue grows 39%]( The company raised US$10.7 million earlier this year from the likes of SoftBank Ventures Asia and GSR Ventures. 4. [Can Julo’s 1 million users help it succeed in Indonesia’s student financing industry?]( The digital credit platform has crossed US$100 million in sales and roughly US$1 billion in total loan disbursements, Tech in Asia has learned. 5. [Profitable Indian agri-finance firm says its model can’t be replicated in SEA yet]( Arya.ag, which increased its profits by over 8x in FYE 2023, says the warehousing finance sector is still at a nascent stage in Southeast Asia. 6. [Tokyo-listed AnyMind eyes 16x profit in 2023 as more seek online selling tools]( In September, the ecommerce enabler revised its projections for full-year operating profit upward, from US$2.8 million to US$3.2 million. 7. [Why Vertex is betting on 17Live for Singapore’s first SPAC deal]( Ahead of a potential merger and market listing with Vertex Holdings’ SPAC, livestreaming platform 17Live projects that it has lots of room for growth. 8. [CoinGecko remains profitable in crypto winter, believes the worst is over]( CoinGecko has adopted a more conservative approach: assuming a 50% to 70% revenue dip during bear cycles. 9. [Fave’s revenue slumps 24% in FY 2023, loss improves 78%]( The slump may be partly caused by Fave's adjustment of its financial year end, though it is also the company's lowest annual revenue in five years. 10. [Singapore firms’ love affair with Nasdaq continues despite post-IPO heartaches]( MoneyHero is set to join the group of Nasdaq-listed Singapore companies despite the losses these firms have suffered in shareholder value. --------------------------------------------------------------- FOLLOW TECH IN ASIA ON WHATSAPP!  We’ve launched our own WhatsApp channel We’ve launched our own WhatsApp channel, and we want you to join us there. 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