Welcome back to The Impulso Podcast by Momentum Works, your go-to source for in-depth coverage of the latest developments in business and technology.
In this edition of our weekly recaps, we delve into the latest headlines that are shaping the industry. From the appointment of GoTo's new CEO to Sam Altman's Asia tour, MissFresh's potential delisting, and the release of Momentum Works' E-commerce in Southeast Asia Report, we bring you the latest insights and analysis.
We kick off the episode by discussing the recent changes at GoTo, Indonesia's largest internet company. Following the resignation of CEO Andre Soelistyo, we explore the appointment of Patrick Walujo, the managing partner of Northstar Group, as the new CEO. As we delve into GoTo's challenges, we analyze the relatively small ride-hailing business in Indonesia and the competitive dynamics in the e-commerce sector. We also examine GoTo's financial situation and the steps they've taken to control costs and increase revenue. Additionally, we discuss the next steps for GoTo and offer insights on potential strategies they should consider moving forward.
Shifting our focus, we explore Sam Altman's presence in Asia. The CEO of OpenAI embarked on a world tour to escape the Silicon Valley bubble and gain a deeper understanding of global issues in AI. We highlight Altman's dialogue at Singapore Management University (SMU), where he engaged with developers, tech professionals, and industry players to discuss AI-related matters. We also touch upon his meetings with leaders like Prime Minister Lee Hsien Loong in Singapore and prominent business figures in Japan, South Korea, and India. We delve into Altman's perspectives on the regulation of AI, the importance of deploying technology responsibly, and the co-evolution of society and AI.
In a significant development, we examine the delisting situation faced by MissFresh, a Chinese e-commerce platform specializing in high-quality fresh food. We delve into the reasons behind Nasdaq's delisting determination notice and explore MissFresh's response, including their request for a hearing. We also highlight MissFresh's violation of a listing rule and their previous operational challenges, which resulted in the suspension of flagship instant-delivery services and employee layoffs.
As we conclude the episode, we share the exciting news following the release of Momentum Works' E-commerce in Southeast Asia Report. We address questions raised by the media, providing insights into the report's methodology and the factors behind TikTok Shop's remarkable growth. We also explore the contributions of different countries in Southeast Asia to this success and unravel the secrets behind TikTok Shop's rise.
Happy listening!
Materials referenced:
E-commerce in Southeast Asia 2023
https://momentum.asia/product/ecommerce-in-southeast-asia-2023/
What does a new CEO mean for GoTo?
https://thelowdown.momentum.asia/what-does-a-new-ceo-mean-for-goto/
Apples to apples: Benchmarking Shopee, Grab, GoTo and other major tech platforms
https://momentum.asia/product/apples-to-apples-making-sense-of-and-comparing-key-data-metrics-of-major-tech-platform-companies/
