What’s next after Flash Coffee’s exit from Singapore?

More: OpenAI’s investors explore potential legal action against its board. [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: - [Flash Coffee’s exit from Singapore]( - The state of startup funding in the Philippines (spoiler alert: it’s not good news) - Other newsy highlights such as OpenAI’s investors exploring potential legal action against its board --------------------------------------------------------------- Hello {NAME} When I first found out that Flash Coffee was closing in Singapore, I was pretty sad about it. I’m a big fan of its chocolate hazelnut shake - the Nutella-esque flavors alongside the rich, creamy texture made it the perfect drink for a sunny afternoon. I never got to drink it as much as I wanted to because it was a tad expensive and quite an indulgence. Now, it’s gone. Flash Coffee may have pulled out of Singapore, but it left behind a lot of question marks and a fair bit of unhappiness - and not just because folks like me can’t get drinks from them anymore. We look at the situation more closely in today’s premium story. -- Stefanie  ---------------------------------------------------------------  THE BIG STORY [Flash Coffee defends Singapore exit, says regional biz in good shape]( When the coffee chain ended its Singapore operations via voluntary liquidation in October, doubts were cast about the health of its entire business. --------------------------------------------------------------- TRENDING NEWS [Boardroom battle cracks OpenAI]( The boardroom drama at the US generative AI firm has just opened up key questions about what led to this decision and the repercussions. [Funding for Philippine startups sees 40% decline in 2023: report]( A report by the Gobi-Core Philippine Fund and Alibaba attributed this decline to “adverse market conditions influenced by a confluence of factors.” ---------------------------------------------------------------  VISUAL STORY OF THE DAY [Asia layoff tracker: Cake group, Virgio, and Adda247 slash over 373 jobs]( Tech firms are dismissing staff to stay afloat as headwinds hit Asia. This layoff tracker is keeping tabs on marching orders. --------------------------------------------------------------- TECH IN ASIA’S REGIONAL FOUNDERS MEETUP: SINGAPORE Join Tech in Asia's 11th and final meetup of 2023! Calling all Singapore-based founders! As 2023 comes to a close, we’re gearing up for our final Founders Meetup of the year in the Lion City. By popular demand, Tech in Asia founder and CEO Willis Wee will talk about his startup journey, which has culminated in an M&A deal with SPH Media, in a fireside chat moderated by our COO Maria Li. Join us on December 5 at Mortar & Pestle to get a candid look at what goes on behind the scenes to pull off an M&A deal. Take home key insights that will help you best navigate and understand the M&A process if you choose to go down this route. Don’t miss this chance to learn, connect, and have fun with your fellow founders - including our own Willis - as we conclude this year’s Regional Founders Meetup event series with a bang! [Get your tickets now]( before they run out! A big thanks to our supporting partners - AWS, CleverTap, Cooley, Oracle, Sinarmas Land, Singapore Global Network (SGN), Quest Ventures, and Purple Quarter - for making this meetup possible. Note: This event is closed-door and strictly off the record - no media buzz, please! While Willis and Maria will share as much about the M&A deal as possible, confidential terms will not be disclosed. ---------------------------------------------------------------  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](. - [Inside Sales Consultant]( at Propseller Singapore, Singapore - [Junior Performance Marketing Consultant]( at Ematic Solutions Kuala Lumpur, Malaysia - [Account Executive (Creative Services)]( at Boleh Dicoba Digital Jakarta, Indonesia - [Intern Account Strategist]( at Mediatics Digital Indonesia Jakarta, Indonesia - [Client Relationship Manager]( at Scout.inc Jakarta, Indonesia - [Travel Assistant]( at mytripology Tangerang, Indonesia [ADVERTISE]( | [SUBSCRIBE]( P.S. 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