Less is more for Thai food delivery

More: Lazada turns a profit and Animoca’s valuation takes a hit. [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: - [The consolidation potential]( in Thailand’s food delivery sector - Sea Group’s financial health in 7 charts - Other newsy highlights such as Lazada’s first profitable month and Animoca Brands’ declining valuation --------------------------------------------------------------- Hello {NAME} I love food delivery. I try not to order too often because it can be pretty painful to the wallet, but there’s something amazing about lying on your sofa, tapping a few buttons in an app, and having food magically appearing at your doorstep shortly after. I don’t even have to put on real pants for it. However, the food delivery space is pretty competitive, with many players vying for market share and navigating the challenges of profitability and growth and all that other fun stuff. In Thailand, things are heating up - and as the sector continues to grow, we may be seeing more mergers and acquisitions between the different players on the road ahead. -- Stefanie  ---------------------------------------------------------------  THE BIG STORY [Thailand’s food delivery sector nears consolidation]( Line Man Wongnai CEO Yod Chinsupakul believes that only two or three food delivery platforms are likely to survive. --------------------------------------------------------------- TRENDING NEWS [Alibaba’s Lazada posts first monthly profit amid intense competition in Southeast Asia]( Lazada has achieved positive EBITDA in July, marking the first time it has ever done so. The company attributes the milestone to various factors such as AI-enabled operations, online marketing, user incentives, and optimization of logistics services. [Animoca Brands trading for as little as a quarter of last valuation]( The blockchain gaming firm's valuation has fallen by more than half compared to 2022 in the face of continued volatility in the cryptocurrency world. Its shares are being traded on secondary markets at valuations between US$1.5 billion and US$3 billion, a sharp drop from its US$5.9 billion valuation when it last raised funds in July 2022. ---------------------------------------------------------------  VISUAL STORY OF THE DAY [Sea Group’s financial health in 7 charts]( These charts offer a snapshot of how Sea Group, the company behind Garena and Shopee, is faring. ---------------------------------------------------------------  NOT-SO-NEWSFLASH: AI IS NO LONGER A ‘NICE TO HAVE’ Forget catching up - it’s time to leapfrog your competition What if you could shape the next AI breakthrough instead of just reading about it? On August 22, Google Cloud experts will reveal how they're supercharging AI for startups, giving you the tools to define the future, not just keep up. Think of it as a masterclass in generative AI, where you'll broaden your perspective, gain actionable strategies, and glean next-gen insights. 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