Is Gojek headed for the exit ramp in Singapore?

More: Shein snaps up fashion brand Missguided. [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: - [Why Gojek may be looking for the exit ramp in Singapore]( - Other newsy highlights such as Shein’s acquisition of fashion brand Missguided and the deeptech investment plans of Malaysia’s Penjana Kapital --------------------------------------------------------------- Hello {NAME} Cutting your losses is one of the hardest things to do in poker. I don’t play seriously or for big money, but that doesn’t make it any easier to stand up from the table and admit you’re beaten. We all know that throwing good money after bad is the wrong thing to do, but it can be difficult to remember that in the moment. Operating a business isn’t exactly like playing poker, but I imagine it’s similarly challenging to admit that it’s time to get out of a market. Gojek has just reduced commission fees in Singapore, and the move might indicate that the Indonesian firm is considering that tough decision. -- Peter  ---------------------------------------------------------------  THE BIG STORY [Will Gojek exit Singapore? Reducing its cut from drivers could be a prelude]( The business case for the ride-hailing firm to operate in Singapore remains weak, according to analysts. --------------------------------------------------------------- TRENDING NEWS [Shein acquires fashion brand Missguided]( Shein also announced that it has agreed to license the Missguided brand to Sumwon Studios, a D2C brand builder from Missguided’s founder. [Malaysia’s Penjana Kapital links up with Taiwan govt to invest in deeptech sector]( The partnership with Taiwan’s AIIDA also looks to invest in gaming venture funds like Round Ventures, a subsidiary of South Korea’s GXC. ---------------------------------------------------------------  VISUAL STORY OF THE DAY [Meet the 15 top-funded startups and tech companies in Vietnam]( Here are the companies in Vietnam that are attracting tons of investors and have the resources to spend on software, talent, and expansion. --------------------------------------------------------------- TECH IN ASIA’S FOUNDERS MEETUP: VIETNAM Did you miss us last June? Great news: We’re coming back to HCMC! With over 3,000 startups and four unicorns, Vietnam is solidifying its position as a prominent startup hub in Southeast Asia. As Vietnam continues its upward trajectory, it’s essential to familiarize yourself with the opportunities and challenges in its startup scene. Looking for some fresh perspectives on how to navigate and thrive in this ecosystem? Or do you have tips and best practices that can help others overcome roadblocks? If you do, then this upcoming event is tailored for you. If you missed the first round of our Founders Meetup, then make sure to mark November 30 on your calendar. Join us in the heart of Ho Chi Minh City at the Hive Villa to connect, learn, and exchange ideas with fellow founders from the Tech in Asia community. Why go on your startup journey alone when you can turn to and collaborate with peers? Be an early bird and pay only US$10 instead of US$12.50 for a ticket, inclusive of complimentary drinks. This is available for a [limited time only - get yours before they’re sold out]( Special thanks to our official event partners - AppWorks, AWS, CleverTap, Cooley, Sinarmas Land, Singapore Global Network (SGN), Quest Ventures, Purple Quarter and AppWorks - and our venue host, the Hive Villa, for making this meetup possible. ---------------------------------------------------------------  EVENTS HAPPENING You can also check out a curated list of trending tech events [over here](. - [AD] [StartmeupHK Festival]( on November 8 to 17 It might be a little early, but it does feel like we’re already getting closer to the festive season. And what better way to be festive than with, well, a festival? We’re about a week away from Hong Kong’s biggest tech startup event, the StartmeupHK Festival, which will kick off with a series of activities at Ocean Park Hong Kong. It’s going to be a packed eight days filled with seminars and exhibitions, as well as pitching, business-matching, and networking opportunities. Sounds good? Get your tickets [here]( before they run out! - [Tech in Asia’s Founders Meetup: Vietnam on November 30]( Did you miss us last June? Great news - we’re coming back to Ho Chi Minh City on November 30 for another round of our networking event! With over 3,000+ startups and four unicorns, Vietnam is poised to become a prominent startup hub in Southeast Asia. While opportunities abound in Vietnam’s startup scene, issues like talent shortage and regulatory hurdles also persist. Need some insights on how to navigate and thrive in this scene? Come join us at the Hive Villa (29 Nguyễn Bá Lân, Thảo Điền, Quận 2, Thà nh phố Hồ Chí Minh 713385, Vietnam) from 6:30 p.m. to 8:30 p.m (GMT+7). Connect with fellow startup leaders to learn how you can grow beyond the early stages of your journey and explore solutions to pressing concerns. [Sign up now!](  - [Brushstrokes to Success: Design a Solid Growth Plan for 2024 on November 16]( Time to get creative and spice up your decision-making game with fellow senior leaders, talent managers, and founders! Hosted at Bridge+ on November 16, mingle with peers from Meta, P&G, GoTo, UOB, Oracle, Agoda, Obayashi, VMLY&R, Ant Group, Circles.Life, and more to get insider tips on supercharging your strategies. Come enjoy an evening filled with networking opportunities, free-flowing refreshments, fun quizzes, an interactive panel, an open Q&A, a modern calligraphy activity, and more - it’s all on the house! [Tickets are almost gone so grab yours now](  - [Tech in Asia x Airwallex - Exclusive Mixer]( Mingle with APAC's Payment and Growth Leaders on November 14 Meet and connect with your peers at Exclusive Mixer: Mingle with APAC's Payment and Growth Leaders, an invite-only networking event on November 14 co-hosted by Tech in Asia and Airwallex. This isn’t your run-off-the-mill corporate event. It’s a gathering of forward-thinkers across Asia Pacific and anyone eager to discover best practices in optimizing and streamlining payment journeys at scale. Grab drinks and light bites while soaking up Singapore’s cityscapes from Honcho’s rooftop bar as you mingle. Come hang out and unwind at this relaxed and casual mixer - all refreshments are on the house [Get your ticket]( to this closed-door event and build lasting connections. Slots are limited so secure yours NOW! ---------------------------------------------------------------  PRESS PEEKS The following press releases were published as they were received, without any editing from the Tech in Asia team. You too can publish your own press release on Tech in Asia by simply filling in [this]( page](. Our team will get back to you by the next business day. - Agate - [Level Up powered by Agate Shares Strategies to Improve Business Performance Through Gamification Adoption]( Level Up powered by Agate highlights 2024 gamification trends, boosting business engagement by 30% for improved performance.  - BeTagged - [What’s next after the ban on TikTok Shop in Indonesia? Enter InCom]( TikTok Shop ban in Indonesia will pave the way for new solutions to fill the gap like the recently launched Influencer commerce marketplace, InCom. ---------------------------------------------------------------  WHO'S HIRING You can post a job [here]( or search for jobs [here](. - [Head of Business]( at AKAR INTI ENTERPRISE Jakarta, Indonesia - [Engineering Manager]( at JALA Indonesia Yogyakarta, Indonesia - [Risk Analyst Intern]( at Dagangan Jakarta, Indonesia - [Motion Graphic Designer]( at FOREXimf Bandung, Java, Indonesia - [Balance Sheet Manager]( at Scout.inc Jakarta, Indonesia - [Data Analyst Intern]( at Qiscus Yogyakarta, 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. 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