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I’vre smells trouble from customers and investors

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techinasia.com

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newsletter@techinasia.com

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Thu, Dec 21, 2023 11:32 PM

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We look at the troubles befalling perfume startup I’vre. Daily Newsletter Welcome to Tech in As

We look at the troubles befalling perfume startup I’vre. [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: - [Fragrance startup I’vre’s abrupt goodbye]( and the creditors, customers, and ex-employees left in its wake - Two Indonesia social commerce firms locking horns - Other newsy highlights such as ByteDance hitting $110 billion in sales for 2023 --------------------------------------------------------------- Hello {NAME} Remember when things weren’t all subscription-based? It feels like it was not that long ago when many online - or even offline - products and services were just based on single purchases. With Adobe, for instance, you used to only need to buy a single license. But it feels like the rise of streaming services and the SaaS model has led to many things going down the subscription route. Now, even more businesses are doing the same. Take I’vre, for instance. The Singapore-based fragrance startup offers a perfume subscription service that allows customers to choose one to three scents a month. Sounds interesting? Many customers thought so too - at first. But some of them now have complaints against the firm. Some customers have said that they were overcharged by the company, while others claimed that their orders were not fulfilled. On top of that, creditors of the firm and ex-employees have said that they’re facing late payments or are owed their salaries. Yet somehow, I’vre also recently announced that it has been acquired, although it did not disclose further details. What a pickle. We take a closer look in today’s story. -- Jonathan  ---------------------------------------------------------------  THE BIG STORY [Perfume startup bids ‘goodbye’ amid whiff of customer, investor complaints]( Singapore-based I’vre has been facing complaints from customers, ex-staff, and creditors. Then it said it had been acquired, but wouldn't reveal the buyer. --------------------------------------------------------------- TRENDING NEWS [ByteDance hits $110b in sales for 2023, on track to top Tencent]( The news comes after ByteDance reportedly closed its revenue gap with Meta in the second quarter of this year. [Home Credit Indonesia secures $100m from MUFG]( The consumer finance firm said that it will “fully use” the funds for ESG-based financing. ---------------------------------------------------------------  VISUAL STORY OF THE DAY [Hot or not: What SEA investors are betting on and what they’re ignoring]( VC funding can be a leading indicator of where in the tech industry we’re going to see more spending and jobs. ---------------------------------------------------------------  KICKSTART 2024 WITH SINGAPORE’S FINEST LEADERS Apply to join the closed-door executive roundtable for January 16 Are you prepared to leverage genAI and data intelligence in 2024? Businesses must embrace change and take advantage of the transformative capabilities of these new technologies if they want to retain discerning consumers who are spoiled for choice. Singapore-based marketing, growth, and product leaders are invited to register for this executive roundtable and networking lunch so they can: - Gain insights into the problem of rising customer acquisition costs and the shift from adtech to martech. - Learn the latest best practices in hyperpersonalization by leveraging genAI tools for exceptional customer engagement. - Explore the potential of AI and data intelligence in predicting customer behavior. - Discover the trends emerging in 2024 to stay ahead of evolving consumer needs. The guest list will be capped at 15 participants, so [register soon]( ---------------------------------------------------------------  EVENTS HAPPENING You can also check out a curated list of trending tech events [over here](. - [The Future of MarTech: Trends Shaping 2024 and Beyond on January 16]( On January 16, senior marketing, product and growth leaders in Singapore are invited to kickstart the year at The Future of MarTech: Trends Shaping 2024 and Beyond, an executive roundtable and networking lunch. Limited to just 15 guests. [Full details & registration here!]( ---------------------------------------------------------------  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. - Frends - [Frends Appoints Vincent Ooi as New Head of APAC, Building on ASEAN Success]( Frends appoints Vincent Ooi as Head of APAC, expanding its European iPaaS reach in the region - GoTo Group - [GoTo becomes the first Indonesian public company to receive validation from the Science-Based Targets initiative on its net-zero target]( GoTo Group is the first Indonesian public company to have its greenhouse gas reduction targets validated by the Science Based Targets initiative (SBTi). The approved three targets which include reaching net-zero emissions by 2050. ---------------------------------------------------------------  WHO'S HIRING You can post a job [here]( or search for jobs [here](. - [Head of Sales (POS)]( at Pintar Ventura Group Jakarta, Indonesia - [Account Receivable Intern (Hybrid)]( at Andalin Jakarta, Indonesia - [Structural Engineer]( at Bobobox Indonesia Bandung, Java, Indonesia - [Content Writer]( at Creativera Digital Asia Jakarta, Indonesia - [Project Manager - Internship]( at Scout.inc Tangerang, Indonesia - [Public Relations]( at Tunaiku Jakarta, 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. 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

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