Middle East investors shower love on Asian tech

Opening Bell 🔔 is Tech in Asia’s free newsletter that brings you the biggest news and latest trends around Asia’s publicly listed tech companies. [Read from your browser]( Opening Bell 🔔 Welcome to the Opening Bell! Delivered every Monday via email and through the Tech in Asia website, this free newsletter breaks down the biggest stories and latest trends on Asia’s publicly listed tech companies. If you’re not a subscriber, get access by [registering here](.  ---------------------------------------------------------------  Written by Samreen Ahmad  Journalist  Hello {NAME} My investment strategy is foolproof: I tend to park my savings either in India’s Public Provident Fund or invest in gold schemes. While this approach reduces risk, the returns are limited. I gathered some courage recently and started exploring the markets for investments. However, I have yet to put money in India's consumer tech IPOs. IPO chatter continues to maintain its sheen (or may I say Shein?) in Asia. Apart from the popular ultra-fast fashion platform, several top consumer tech firms including Lenskart and Kakao Entertainment are eyeing a public listing as their next big milestone. These companies have a common thread that ties them: Middle Eastern money. In our Big Story this week, my colleague Simon details in a visually appealing story why the Middle East is becoming a darling of startups in India, Singapore, and China when it comes to investments. Read on to get the lowdown. -- Samreen  ---------------------------------------------------------------  THE BIG STORY [Mapping Middle Eastern investors fueling Asian tech firms]( Energy transition and global geopolitics are driving investors from the UAE and Saudi Arabia to increasingly focus on Asia. ---------------------------------------------------------------  3 TRENDS TO KEEP EYE ON Hot stocks, earnings reports, restructuring, pressure from activist investors, and more. 1️⃣ Allen opens a new chapter for edtech: Allen, an India-based coaching institute, has [bought]( edtech startup Doubtnut in a US$10 million deal that could be seen as a distress sale. The acquisition could spark a reverse trend of coaching institutes taking over the edtech space as many startups in the sector are struggling as Covid-related tailwinds fizzle out. Last year, edtech giant Byju’s [purchased]( Aakash, one of the country’s biggest tutorial chains. However, the deal eventually turned into a murky [share swap battle]( between the two parties. 2️⃣ Meituan doesn’t want Foodpanda on its platter: Chinese food delivery giant Meituan (3690, HKG) [confirmed]( that it is “not interested” in Foodpanda, clearing the way for Grab (GRAB, NSDQ), which was reported to be in talks to snap upthe Southeast Asian arm of Berlin-based Delivery Hero’s (DHER, ETR) business. The development provides much-needed relief to Grab, which had seen its stock prices[ erode by 10%Â]( rumors of Meituan potentially acquiring the Foodpanda business. If Grab goes on to buy Foodpanda, it would cement its top position in the Southeast Asian food delivery market. 3️⃣ Can paid video content catch up?: Douyin, the Chinese counterpart of TikTok, has been [looking at paid video contentÂ]( an additional revenue stream. This could, however, prove counterproductive for a platform whose viewers are used to consuming free video content. Just like paywalled news content, which has been picking up slowly but steadily, consumers may need time to get used to the idea of paying for something that was previously free. Yet the move may provide Douyin with a fresh and sustainable revenue stream as it prepares for an IPO. 2 EYE-POPPING NUMBERS Tech in Asia scours the internet to bring you head-turning numbers from the world of business. - [100]( The number of parcels delivered per person in China as ecommerce companies such as Alibaba (BABA, NYSE), JD (JD, NSDQ), and PDD (PDD, NSDQ) saw traction. - [172%]( The year-to-date performance of Meta Platform’s (META, NSDQ) stock. After this, co-founder Mark Zuckerberg sold about 682,000 shares worth almost US$185 million in the company. THE ONE YOU DIDN'T SEE COMING We spotlight the story that had everyone talking and social media buzzing during the past week. Paytm shares crash 20%: In one of the biggest falls for Paytm (PAYTM, NS) since its listing, shares tanked [nearly 20%]( during intraday trading as the fintech major decided to cut down on small-ticket loans. Loans below 50,000 rupees (US$599) are considered small-ticket loans, and scaling these back could be seen as the company choking off one of its flourishing revenue streams. While the move was in compliance with a measure by the Indian central bank to [tighten norms]( around personal loans last month, it could have a significant impact on Paytm’s financials as “[the segment forms over 50% of total disbursements]( according to a note from financial services company Motilal Oswal. Paytm has maintained that it will “[expand higher ticket loan distribution]( but it will take time for the new lending plan to start playing out and adding to the company’s fortunes. That’s it for this edition - we hope you liked it! Not your cup of tea? You can unsubscribe from this newsletter by going to our preference center at the bottom of this email. Happy investing and see you next week! Disclaimer: This content is for informational purposes only. Kindly do not construe any such information as legal, tax, investment, financial, or other advice. [ADVERTISE]( | [SUBSCRIBE]( | [HIRE]( | [FIND JOBS]( 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. Too many emails? Switch to a different frequency or get new content through our [preference center]( or [unsubscribe](. You can also break our hearts and remove yourself from all Tech in Asia emails over [here](  Copyright © 2023 Tech in Asia, All rights reserved. 63 Robinson Road, Singapore 068894