Ola's secret to success? Work hard, shop hard

Check out our top articles for the week. [Read from your browser]( Top Stories of the Week Welcome to Tech in Asia's free Sunday newsletter! Get full access to our subscribers-only premium content and other insightful analysis on the big and messy topics of Asia’s tech and startup community by [registering here](. Hello {NAME} Everyone's heard of Elon Musk, the workaholic genius. Sleeping at the office and the never-ending hours of work at first seemed like the only way to build a successful company. I used to admire that, but then I realized that most employees can't sustain that kind of lifestyle. Generally, this type of founder expects the same hustle from their employees, which ultimately leads to higher attrition. Of course, Musk's businesses thrive and rake in the billions. Does the end always justify the means? That's a tough question. Now, there's this rising star in India, Bhavish Aggarwal. He founded ride-hailing firm Ola, and it's way more than just another Uber competitor. Ola is profitable in its core biz: Ola Mobility, while Ola Electric is leading the country’s electric scooter market. The group even has its own foundational AI model. It makes you wonder how it keeps expanding so fast. First, Aggarwal brought Musk’s hustle culture to India, making statements such as “our generation is destined to toil” and weekends being a Western import. (Ola Electric’s 47.5% attrition rate might be a side effect of this, though.) Moreover, Ola doesn't build everything from scratch. Its secret weapon is buying up other startups. Need electric scooters? Acquire the best e-scooter company. Need a mapping system? Buy the best one out there. Want to add food delivery? Find a thriving food delivery app and make it yours. That's how Aggarwal, India's version of Elon Musk, gets things done. -- [Lokesh Choudhary]( journalist at Tech in Asia  --------------------------------------------------------------- TOP STORIES THIS WEEK 1️. [Ola rides on acquisitions for success, but will this work for its AI play?]( Ola co-founder Bhavish Aggarwal has employed a unique playbook from other ride-hailing giants that has helped the firm expand into EVs and genAI. 2. [Vietnam’s QR code revolution puts pressure on digital wallets]( Fueled by the simplicity of a QR code, Vietnamese consumers are embracing cashless payments at an unexpectedly rapid pace. 3. [US TikTok ban looms: What’s next for ByteDance?]( ByteDance has fought hard against a TikTok ban in the US, but selling the unit off could be a plus for the Chinese firm’s listing ambitions. 4. [GoTo Group’s financial health in 7 charts]( The charts in this article, which are updated every quarter, present a snapshot of how the Indonesian giant is doing. 5. [Charting Asia’s M&As: When do startups usually make an exit?]( Tech in Asia’s data analyzes M&A deals in Asia - which stage most startups exited, how much was raised, and more. 6. [Recognized by Malaysia’s prime minister, this fintech firm is looking to go beyond SMEs]( Swipey is a digital and accounting management platform for corporations to manage and organize their day-to-day receipts. 7. [GoTo, TikTok to launch BNPL service in Indonesia]( This is part of GoTo Group's efforts to double down on financial services to drive top-line growth. 8. [Emtek’s Vidio claims to have Indonesia’s streaming crown, but sees heavy losses]( Indonesia has the highest CAGR for subscription-based VOD services among APAC countries, but it faces stiff competition from global players. 9. [SEA funding round sizes over the past 5 years]( For startups, understanding how much their peers are raising could be crucial when they're pitching investors. 10. [Mapping Temasek’s role in the startup space (updated)]( The Singapore-based investor has launched 50 companies, including 20 investment firms and a venture-building arm, in its quest for disruptive businesses. --------------------------------------------------------------- JOIN TECH IN ASIA’S EXPERIENTIAL DINNER  We’re holding an invite-only gin tasting and networking event with global leaders This year is all about new experiences. On April 18, we’re inviting global leaders to join our Distillery Takeover with Airwallex at Singapore’s first heritage gin distillery. It’s an experiential dinner that goes beyond networking, giving you a behind the scenes look into the art of gin-making while savoring the vibrant flavors of the distillery’s expertly crafted gin, accompanied by a four-course dinner. Join us at this exclusive event that’s reserved for a select few. Find out more and [submit your application here](. ---------------------------------------------------------------  EVENTS HAPPENING You can also check out a curated list of trending tech events [over here]( and Tech in Asia’s - [Saigon Summit 2024 : Charting Vietnam’s Tech Future on May 30]( Founders, it’s your chance to put your startup on the map at our signature trade show, Startup Showcase, and get the attention of hundreds of tech professionals. Your next investor or business partner could be among the crowd! Check out the perks you’ll receive for exhibiting and apply now! Grab your tickets before March 25 to secure up to 50% off - while stocks last! - [Tech in Asia Conference Kuala Lumpur 2024 : Malaysia on The Rise on July 24-25]( TIA Conference KL aims to provide a platform for over 2,000 attendees to gain a fresh perspective on what’s next for Malaysia’s tech ecosystem through thought-provoking panels, curated networking sessions, and a dedicated exhibition segment. Catch our early bird special before March 25, with prices starting from just US$40 instead of the usual US$80 for a General Pass. Grab yours while the offer lasts! - [Product Development Conference (Jakarta, July 2024)]( This year’s conference, themed around “scaling product innovation from startup to enterprise,” will deliver tailored insights for attendees at any stage of their business journey. [Secure your spot now]( - our presale tickets are sold out, but you can get early bird tickets starting from US$25!  - [Tech in Asia’s Founders Meetup in Singapore on April 24]( We took the best of our 2023 Founders Meetup series and injected it into our all-new agenda this year. But don’t just take our word for it - join us at Hopscotch on April 24 to experience the excitement firsthand. P.S. We’re just getting started. We’re hosting many other Founders Meetups this year, so [stay tuned]( --------------------------------------------------------------- WHO'S HIRING  You can post a job [here]( or search for jobs [here](. [logo] [IT Project Manager (Integra Pratama)]( at Dealls Jakarta, Indonesia Project & Product Management [logo] [Remote Blockchain Developer]( at Forest Technologies Indonesia Bulk Terminal, Indonesia Software Engineer [logo] [Social Media Internship]( at Purwadhika Digital Technology School Tangerang, Indonesia Media & Journalism [logo] [Content Strategist]( at PT. 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