Last week, both Sea Group and Grab released their Q1 2024 results, and the market responded positively - is tech in Southeast Asia recovering? Grab reported strong Q1 results, but investors are still curious: will Grab become profitable? Over the past few quarters, the management team at Grab has consistently focused on relentless execution and continuous operational improvement. It will be interesting to see how Grab balances its path to profitability and growth (given its penetration in...

In the latest episode of the Impulso podcast, we are joined by special guest Shawn Teow (who makes his podcast debut), diving deep into live commerce in Southeast Asia.   Shawn, the co-founder and former COO of Upmesh, now leads his new venture, Hitwave, which aims to connect live sellers in SEA with cross-border brands. With over five years of experience in live commerce in Southeast Asia, he has a wealth of insights to share.    Tune in as Shawn discusses the current state of live commerce...

Both Starbucks and Luckin Coffee recently unveiled their Q1 2024 earnings, eliciting varied market responses.   In China, Starbucks faced a challenging quarter with comparable store sales declining by 11%, attributed to an 8% drop in average ticket sales. Meanwhile, Luckin has stayed committed to rapid expansion, opening over 2,000 stores in Q1, albeit at a slower pace than usual. Who is winning in China's competitive coffee scene?   Tune in as we delve into the latest results of these two...

From leveraging top Key Opinion Leaders (KOLs) like Luo Yonghao at BeFriends, to signing up celebrities at YoWant, MCNs are employing various strategies to stand out. But it's not just about the hosts; MCNs are also exploring other diverse approaches, from studios to real-store experiences, to differentiate themselves and stay competitive.   And in this dynamic industry, every detail matters, from the critical role of hosts in driving sales to the meticulous operational details to the...

Everyone knows that digital transformation poses numerous challenges and pitfalls, but does it really have to be this arduous?   In the latest episode of the Impulso Podcast, we are joined by special guest, Jing Li, founder and CEO of Sirius Technologies and co-author of our report "Transforming Digital Transformation," as we unravel the complexities and triumphs of digital transformation.    Digital transformation isn't just about technology; it's also a mindset shift towards innovation and...

“In China’s online business, one or two years is not a very long time… it changes so fast.” - Connor Li shares insights on the rapidly evolving live commerce scene in China in the latest episode of the Impulso Podcast.   Is China already transitioning into the second phase of live commerce?   Connor is the head of curriculum development at Ji Tang, a “S Level” MCN in China, managing 170+ influencers, with a total of more than 200 million followers. He was also a featured speaker at Momentum...

In this latest episode, Jianggan takes over as the host, and interviews the team, Sabrina, Yorlin and Liz, about Momentum Works recent Live Commerce immersion, where we brought 20+ delegates from Southeast Asia to Shenzhen.    During the 3 day immersion, participants engaged in over 10 visits, including exclusive tours of leading MCNs. Tune in as we reflect on the trip, sharing memorable experiences -  going behind-the-scenes at MCN studios, interactions with AI virtual hosts, and gaining...

In a recent interview, Joe Tsai, Chairman of Alibaba, redefined Alibaba’s customers as users shopping on their apps, a shift from their previous focus on merchants. This marks a shift from their previous emphasis on merchants, and with Alibaba's revenue historically heavily reliant on merchant advertising, Alibaba’s shift towards user-centricity challenges this model.    So, what does this mean for Alibaba's strategy moving forward? How will Alibaba balance between user and merchant...

From Alibaba to Meta, and now Meituan, it seems like founders and co-founders can’t retire.    Wang Huiwen's recent return to Meituan, albeit as a part-time consultant, raises questions about why founders struggle to leave their companies. His departure and subsequent comeback highlight the complexities of succession planning and the unique role founders play in navigating turbulent times.   It’s true that leadership transitions in tech are complicated due to the fast-paced environment and...

ShopBack has announced the shutdown of PayLater, its Buy Now Pay Later (BNPL) scheme, marking the latest withdrawal from the BNPL scene in Singapore.   Unlike traditional credit card models, BNPL allows consumers to split payments over time, offering convenience and flexibility at the point of sale. However, the road to success is not easy - BNPL players, particularly independent ones, encounter various challenges ranging from high customer acquisition costs to merchant acceptance and...

Last week, Alibaba announced that Hou Yi, the founder of the Hema (or 'Freshippo') retail chain, will retire as CEO, to be replaced by CFO Yan Xiaolei. What does this mean for Hema?   Hema, positioned as premium retail, reflected Alibaba's anticipation that consumers would become more affluent and upgrade their consumption habits. However, Alibaba is now pivoting back to its core focus on Taobao and its users as it undergoes its biggest transformation in history.   Amidst this transformation...

After almost a decade, is winter finally here in Southeast Asia?   Join us in our latest podcast episode featuring special guests Dimitry Levit and Boon Ping Chua (aka BP), partners from Cento Ventures, each with over a decade of experience in venture capital, particularly in Southeast Asia.   Cento Ventures recently unveiled their Southeast Asia tech investment 2023 H1 report, and we have invited Dmitry and Bp to share further insights into their perspectives on investment in the...

Yesterday, the US House of Representatives overwhelmingly passed a Bill dubbed the “Protecting Americans From Foreign Adversary Controlled Applications Act,” that would give ByteDance about six months to divest the US assets of TikTok or face a ban.   What does this mean for TikTok?   Join us on the latest episode of the Impulso Podcast as we delve into:  The likelihood of the ban;  TikTok's options - there seem to be no good options Donald Trump's opposition to the ban - will he really...

Is Shanghai mirroring Singapore's nutritional labelling approach?    Recently, Bawang Tea Ji's (Chagee) Shanghai store has introduced a "Nutritional Choice" logo on all its beverages - a first for freshly-made drinks in China. This mirrors Singapore's Nutri-Grade ratings (A to D), implemented by the Health Promotion Board, from December 2022, which were introduced to increase consumers' awareness, and help them make healthier choices.    But do these labels actually change consumer habits?...

Last night, Sea group published their 2023 Q4 and FY results, announcing its first profitable year. The market had mixed feelings - stock price fluctuated the first trading day post-results, and eventually closed with a 5% increase in share prices.    During the earnings call, Sea executives reiterated the group's dedication to deepening its moat in the region to maintain its position as a market leader in the region. But what exactly is its moat?   Join us in this latest episode as we delve...

In Luckin Coffee’s latest 2023 Q4 report, the company revealed that it opened 2,975 stores in Q4 - almost 1,000 stores every month.    The report also unveiled that Luckin has overtaken Starbucks in terms of sales in China. But is Starbucks genuinely their primary competitor in China? If not, who holds the title of Luckin's main competitor in China?   In this episode, we are joined by our in-house coffee expert, Weihan. Together, we dive into: The rationale and methodologies driving the rapid...

Grab recently published their 2023 Q4 and FY results, and during its earnings call, COO Alex Hungate confirmed that Grab is not pursuing acquiring FoodPanda. This aligns with Delivery Hero, FoodPanda’s parent, announcement earlier last week that acquisition talks for Foodpanda in Southeast Asia had collapsed.   Why did Grab give up on the potential acquisition of FoodPanda? Was the €1 billion price tag for FoodPanda (that German media quoted) not the "right price" for Grab?   Tune into this...

China's live commerce industry is not just big—it's a trillion-dollar powerhouse with a vast ecosystem, encompassing MCNs, enablers, logistics, and more.    With only a month away from Momentum Works upcoming live commerce immersion in Shenzhen, China (where participants will have will visit/meet key players in this ecosystem), we wanted to address some common questions we’ve received from interested participants, as well as share insights into the ecosystem and trends of live commerce in...

Omar Kassim joins us in the latest episode of the Impulso podcast in a candid discussion about the current dynamics of the venture and investment ecosystem in the Middle East.    With over a decade of experiences in venture and investment in the region, Omar has many insights into the appealing yet mysterious market and ecosystem of the Middle East.    Join us as we dive into: How the two major economies, UAE and Saudi Arabia differentiate in their strategy and compete with each other The...

Last Wednesday (31 Jan), Momentum Works held our online briefing “In focus: Food delivery platforms in Southeast Asia 2024” where we covered global developments, key events, and trends within the food delivery landscape in this region.    During the event, there were also many questions asked, and we've addressed them in this episode. Here are some highlights:  Will we see Deliveroo or Doordash enter SEA? With the rise in platforms take rate, can we expect a resurgence in dining out? Why is...

Meituan has had a very challenging 2023, with its falling share price and intense competition from both Douyin and Pinduoduo.    Last Friday (2 Feb), Meituan founder and CEO, Wang Xing, announced in an internal email an organisational restructuring that will integrate a number of businesses related to core local commerce and further raise the priority of technology and internationalisation-related businesses.    Notably, as part of the restructuring, CEO Wang Xing announced that he will...

Momentum Works recently launched our 4th annual Food delivery platforms in Southeast Asia report and following the launch we also held an online sharing where we explored global developments, key events, and trends within the food delivery landscape in this region.   Some highlights of the event:  Doordash outperforms its international peers in capital markets while Meituan has its most challenging year since IPO Despite the recovery of F&B in the region, premium brands still face...