American allure - why SEA startups are expanding to the US

More: Elon Musk’s xAI set to close new round at US$24 billion valuation and Nvidia ups its Q2 revenue forecast. [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: - Why Southeast Asian startups are [heading to the US]( - The US$1 million pre-seed round of a Bangladeshi employment platform - Other newsy highlights such as Elon Musk’s xAI potentially setting a US$24 billion valuation and Nvidia upping its revenue forecast for Q2. --------------------------------------------------------------- Hello {NAME} American dream? Pssht. All I’ve heard my whole life was the Singaporean dream, also known as the 5 Cs: condo, car, cash, credit card, country club membership. It’s a lot catchier than “affordable, readily available housing and cheap food” for sure. Jokes aside, I’ve realized that having something to work toward is especially important once you start working. During one’s schooling days, it’s a lot easier to get caught up in having different things laid out for you - you need to score well for exams, participate actively in co-curricular activities, and more. Once you’re out of the education system, however, you need to start finding these goals to set for yourself to stay motivated. If not, there’s always the danger of just sinking too deep into your daily routine with nothing more to inspire you. It can be as simple as learning a new language or taking up a new sport. For some startup founders, that goal takes the form of overseas expansion. However, many of those based in Southeast Asia have set their sights further than the region. Their target? The US. Today’s story takes a look at why many want to take this leap across the Pacific. -- Jonathan  ---------------------------------------------------------------  THE BIG STORY [Startups ditch SEA expansion for American Dream, but it’s not that simple]( Heading west or staying regional? Higher consumer spending and greater investor risk appetite are drawing some early-stage founders to America. --------------------------------------------------------------- TRENDING NEWS [Bangladeshi employment platform gets $1m boost from Cocoon Capital]( Shomvob aims to solve hiring difficulties of over 650,000 firms and SMEs in the country. [Elon Musk’s SpaceX eyes $200b valuation with potential share sale, sources say]( One of Bloomberg’s sources said this sale could start in June, with the share price likely to be between US$108 and US$110 each. ---------------------------------------------------------------  VISUAL STORY OF THE DAY [Mapping the family offices spreading wealth across startups in SEA (updated)]( Family offices investing in Southeast Asia usually seek wealth safety, which makes Singapore a key location due to its currency stability. --------------------------------------------------------------- TECH IN ASIA’S FOUNDERS MEETUP: VIETNAM ON MAY 30 An exclusive sneak peek at the people you’ll meet Founders, startup leaders, and investors from across Southeast Asia - Vietnam, Singapore, Thailand, Malaysia, the Philippines, and beyond - have already secured their spots at our Founders Meetup! Will you be joining them? For one night only, we’re bringing together leading minds from the tech industry. Whether it’s a fintech startup that just received funding, an established ecommerce player, or a rising generative AI disruptor, it’s your chance to establish valuable, lasting connections. Only a few more days to go! [Get your ticket now]( and enjoy a 10% discount with the code VNTIASPECIAL10 - limited redemptions left! ---------------------------------------------------------------  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. - Viction - [Viction collaborates with Polygon CDK and Lumoz to accelerate the growth of AppChain in Asia]( Viction, Polygon CDK, and Lumoz have joined forces to drive AppChain growth, expanding resources and scalability for Asian builder ---------------------------------------------------------------  EVENTS HAPPENING You can also check out a curated list of trending tech events [over here]( and Tech in Asia’s signature events [here](.  [Saigon Summit 2024 : Charting Vietnam’s Tech Future on May 30]( Vietnam's tech scene is hotter than a bowl of pho, and Saigon Summit is serving up the secret ingredients. Get a helping of insights from MoMo's Nguyen Manh on building a fintech giant, soup up your funding game with Jungle Ventures’ My Tran, and develop your recipe for talent success with Skills Bridge's Linh Thai. Don't miss this chance to drink in all this knowledge – [grab your ticket before it's gone pho-ever!]( [Tech in Asia Conference Kuala Lumpur 2024 : Malaysia on The Rise on July 24-25]( Join us for an unmissable two-day event where the future of tech in Malaysia takes center stage. Hear from visionary leaders shaping the tech landscape, including: - Venon Tian, the mastermind behind Zus Coffee's innovative coffee empire - Carmen Yuen, a venture capitalist at Vertex Ventures who invests in groundbreaking tech startups - Eric Cheng, the co-founder of Carsome, Malaysia's leading online used car platform ... and many more! Secure your spot today and embark on a journey of discovery and innovation.  [Product Development Conference (Jakarta, 25-26 June 2024)]( We are delighted to announce that Bank Rakyat Indonesia will be joining us as our title partner for Product Development Conference 2024! ✨ Find out how BRI, one of the largest state-owned banks in Indonesia, continues to drive innovation of their products and ecosystem at "Enterprise Product Development by BRI" stage. Stay tuned on this page or through pdc.techinasia.com to get the latest update! Discounted tickets vanishing faster than a viral tweet! [Secure your tickets]( now to sharpen your product skills! [Tech in Asia’s Founders Meetup in Vietnam on May 30]( Founders, startup leaders, and investors from across Southeast Asia - Vietnam, Singapore, Thailand, Malaysia, the Philippines, and beyond - have already secured their spots at our Founders Meetup! Will you be joining them? Only a few more days to go! [Get your ticket now]( and enjoy a 10% discount with the code VNTIASPECIAL10 - limited redemptions left! [Tech in Asia x Airwallex Startup Night on June 19]( Forget the elevator pitches and forced smiles of typical networking events. Held on June 19, Tech in Asia x Airwallex Startup Night is about one thing: forging genuine connections that fuel real growth. This isn't for everyone, though. We're handpicking a select group of ambitious founders and startup leaders who are ready to move beyond the hype and achieve real impact. [Register for an invite today!]( ---------------------------------------------------------------  WHO'S HIRING You can post a job [here]( or search for jobs [here](. - [Data Engineer (IFRS)]( at Indocyber Global Teknologi Jakarta, Indonesia - [Associate Product Manager]( at Lion Parcel Jakarta, Indonesia - [Legal Administrative Assistant]( at Female Daily Network Jakarta, Indonesia - [Teller (BPR Prima Kredit Mandiri)]( at Dealls Tangerang, Indonesia - [IT Manager (Reka Multi Aptika)]( at Scout.inc Jakarta, Indonesia - [Settlement]( at Reku 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? 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