Layoffs and founder disagreements at Cake Group

More: HSBC’s partnership with Antler and JD.com’s Q3 2023 numbers. [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: - [Cake Group’s layoffs and more]( - Sea Group’s financial health in 7 charts - Other newsy highlights such as JD.com’s Q3 2023 numbers --------------------------------------------------------------- Hello {NAME} You know how people say parents should present a united front when parenting? I feel the same applies to the leadership team of a company. While there may be disagreements on how things should be done or where the company’s focus is, at the end of the day, when executives go to their employees with a decision, they should be aligned and united in what they want to do. When that doesn’t happen, it creates a lot of uncertainty. In today’s premium story, we look at a crypto company that laid off staff even though the founders weren’t aligned on the move. -- Stefanie  ---------------------------------------------------------------  THE BIG STORY [Cake Group cuts staff by 30% amid rift between co-founders]( One of the crypto firm’s co-founders is opposed to the layoffs. --------------------------------------------------------------- TRENDING NEWS [HSBC partners with Antler to fuel Southeast Asian startups]( Founders will have access to HSBC’s financial expertise, preferred business banking accounts, venture debt, and working capital facilities. [JD.com posts minimal revenue gains in Q3, misses estimates]( Operating income also grew by just 6.6% year on year to US$1.28 billion as contributions from JD Retail and JD Logistics remained flat. ---------------------------------------------------------------  VISUAL STORY OF THE DAY [Sea Group’s financial health in 7 charts]( These charts offer a snapshot of how Sea Group, the company behind Garena and Shopee, is faring. --------------------------------------------------------------- TECH IN ASIA’S REGIONAL FOUNDERS MEETUP: VIETNAM By popular demand - RFM returns to HCMC! Good news, Ho Chi Minh City-based founders! We’re holding another Founders Meetup on November 30 at the Hive Villa. Don’t miss this opportunity to build your network and connect with your fellow founders over a couple of complimentary refreshments! Plus, we’re holding a fireside chat with Bryan Pelz, co-founder of VNG and Bootloader Studio. Pelz will share insights from his 30 years of experience in the gaming, media, and AI industries as well as the lessons he’s learned from building 11 companies along the way. Moderated by Tech in Asia engagement editor Peter Cowan, the fireside chat will dig deep into the realities of building and scaling a successful startup in Vietnam. [Get your tickets now]( before they run out! Special thanks to our event partners - AppWorks, AWS, CleverTap, Cooley, Sinarmas Land, Singapore Global Network (SGN), Quest Ventures, and Purple Quarter - as well as our venue host, the Hive Villa. ---------------------------------------------------------------  EVENTS HAPPENING You can also check out a curated list of trending tech events [over here](. - [Tech in Asia’s Founders Meetup: Vietnam on November 30]( We’re making our way back to Ho Chi Minh City on November 30 for our tenth Founders Meetup! Get a glimpse of the startup journey of Bryan Pelz, the co-founder of VNG and Bootloader Studio. Hear what he and Peter Cowan, Tech in Asia’s engagement editor, have to say about what it’s like to build and scale a startup in Vietnam. Plus, exchange ideas and tips with your fellow founders on how to navigate your own startup journey. Don’t miss out! Join us at the Hive Villa (29 Nguyễn Bá Lân, Thảo Điền, Quận 2, Thà nh phố Hồ Chí Minh 713385, Vietnam) on November 30 from 6:30 p.m. to 8:30 p.m. (GMT+7). Hurry, tickets are selling like hotcakes - [RSVP now before they’re all sold out]( ---------------------------------------------------------------  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. - Dexian - [DISYS Operations in Malaysia, Singapore, and Thailand Rebranded to Dexian Asia Pacific]( Extends global platform of staffing and business solutions throughout the APAC Region. - ChargeSini - [ChargeSini Signed MOU with Mydin Hypermarkets!]( ChargeSini today officialling inked a (MoU) with Mydin Hypermarket with total of 24 outlets with ChargeSini. ---------------------------------------------------------------  WHO'S HIRING You can post a job [here]( or search for jobs [here](. - [Project Lead]( at Koltiva Jakarta, Indonesia - [Sales Executive - Cloud Service]( at Arupa Cloud Nusantara Jakarta, Indonesia - [Freelance Live Streaming Host]( at Dagangan Bandung, Java, Indonesia - [Assistant Editor kumparanWoman]( at kumparan.com Jakarta, Indonesia - [Product Analyst]( at Scout.inc Jakarta, Indonesia - [Admin Business Support - Internship (3 months)]( at Evermos Bandung, Java, Indonesia [ADVERTISE]( | [SUBSCRIBE]( P.S. 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