Lazada's layoff to IPO plot twist

More: PH car-sharing platform Doon scores funding. [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: - [Lazada possibly approaching an IPO]( - VinFast revving up EV deliveries - Other newsy highlights such as Philippine car-sharing platform Doon securing pre-seed funding --------------------------------------------------------------- Hello {NAME} When 2024 started with news that Lazada was laying off up to 30% of its staff across different markets, it was hard to imagine that we’d be talking about a possible IPO just months later. Aside from letting go of employees, the Alibaba-owned ecommerce platform has been losing market share to competitors like Shopee and TikTok Shop in recent years. So the tea leaves weren’t exactly pointing toward a market debut. But Lazada’s surprise profit milestone in July has changed the equation. Check out today's featured story for a look at how the firm's "shrinking to profitability" strategy might just be paving the way for its frequently speculated IPO. -- Peter  ---------------------------------------------------------------  THE BIG STORY Despite recent layoffs and shrinking market share, Lazada turned profitable for the first time in July. But with Shopee dominating in many Southeast Asian markets and TikTok Shop gaining momentum, can Lazada maintain its position and even go public? [Click here]( for the finer details. --------------------------------------------------------------- TRENDING NEWS [Philippine firm DOON gets $1.5m]( The car-sharing platform has secured US$1.5 million in pre-seed funding with a mix of debt and equity. The firm plans to use the capital to develop its web marketplace and improve its mobile car-sharing platform. [VinFast's Q2 gross loss widens on impairment charge]( Vietnamese electronic vehicle manufacturer VinFast incurred a gross loss of US$224 million in the second quarter of this year but saw a rise in vehicle deliveries. The firm said the loss was mainly due to an impairment charge of US$104 million. ---------------------------------------------------------------  VISUAL STORY OF THE DAY [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. --------------------------------------------------------------- FEELING THE PRESSURE TO INNOVATE FASTER?  The future is collaboration, powered by AI Sit down with selected experts from CIMB, Figma, Carousell, ShopBack, Pelago, and more on September 26 at Coriander Leaf Chijmes to explore the latest strategies and technologies shaping the future of product. Learn how to navigate the evolving roles of designers and engineers as AI becomes more prevalent. Unlock effective communication between teams, and overcome the technical challenges of harnessing AI's full potential. 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