Top Stories of The Week

Hello there

When people reach a certain age, they naturally consider finding the right partner to start a family, especially when invitations to their friends' weddings begin filling up their mailboxes. But wise parents will always advise their children against rushing it when they're not ready.

The decade-old Traveloka was among the first companies in Southeast Asia to begin the conversation around going public through a SPAC merger when the trend was at a fever pitch. However, just months after the unicorn said it would “marry” Bridgetown, a Hong Kong-based blank-check company, the Indonesian firm pulled the plug on it.

In my recent piece, you'll find out why Traveloka has made the logical move, considering the circumstances surrounding both the SPAC and Traveloka itself. Scrutiny from the US Securities and Exchange Commission, the quick-deal impulse, and the Covid-19 complications - it all pointed toward ‌bad timing.

That said, should every company break off SPAC talks? Well, your friends’ weddings shouldn't affect you, and your own doubts shouldn't give your friends cold feet. With the right partner, a healthy deal, and a little faith in future success, the SPAC route will remain an accessible option to many.

-- Budi Sutrisno, journalist at Tech in Asia

TOP STORIES THIS WEEK

1. Why Traveloka may have been wise to give up the SPAC route
The company remains committed to going public, and given the waning enthusiasm for SPACs, a traditional listing might be the best path to take.

2. Org Chart: The people helming Sea Group
We look at the captains leading Sea Group as the firm makes major moves in digital banking and in markets like Latin America and Europe.

3. Is earned wage access Indonesia’s latest hot ticket?
While startups like GajiGesa and Wagely have stolen the spotlight in the EWA segment, numerous VC-backed companies have quietly stepped into the arena.

4. Meet the players fighting plastic scourge in SEA
Plastic waste startups are on the rise, but more needs to be done to scale their impact.

5. A list of fundraising startups from Asia (Updated)
Fundraising is hard. To make things slightly easier, we've compiled this list of fundraising startups for our subscribers.

6. ShopBack posts 150% revenue growth, earns 3x return on Seedly investment
ShopBack has also raised an initial US$7.3 million in an ongoing funding round.

7. Visual: Emtek’s rise as a major player in Indonesian tech
After decades as a media powerhouse, the Indonesian conglomerate is making major moves in tech via alliances with Grab and Bukalapak, among others.

8. A list of SEA’s soonicorns and their early backers
There are currently 15 startups in Southeast Asia set to break into the exclusive unicorn club soon.

9. The rising and major players in Vietnam’s ecommerce scene
The industry is experiencing strong headwinds in the form of tighter rules for online shopping platforms.

10. Korean beauty firm B2Link buys digital skincare community
B2Link will use Picky's proprietary data to find and acquire young brands looking to generate interest with skincare enthusiasts.

EVENTS HAPPENING

• *Event* Ask Me Anything about NFTs on January 14
  Ask all your questions to Alan Seng, the founder of Dark Zodiac, a Singapore NFT project that made S$1.4 million (around US$1 million) after selling all of its 3,876 NFTs in 80 minutes.
• AWS SaaS Forum on February 17
  Join the AWS SaaS Forum on February 17 to uncover opportunities and insights on SaaS trends, outlook for 2022 and how to build your business playbook. Attendance is complimentary.

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