Tiki's been getting torched

More: Nvidia strikes an AI deal in Vietnam. [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: - Tiki’s [top-line struggles]( - Apple’s plan to invest US$1 billion in Indonesia - Other newsy highlights such as Nvidia’s AI deal in Vietnam and two Byju’s executives facing legal scrutiny in the US. --------------------------------------------------------------- Hello {NAME} Ecommerce has always been a cutthroat, bloody battlefield. That’s a good thing for consumers - as companies fight for buyers, we get to enjoy deep discounts and other benefits. But it also means that if you’re one of the platforms that can’t match that energy, it’s difficult to catch up. Without some other reason to secure brand loyalty, it’s likely that shoppers will dump you for the next cheapest thing, even if the difference in price isn’t that much. In today’s story, we take a look at how Vietnamese ecommerce platform Tiki did this year. Spoiler alert: it wasn’t much to write home about. -- Jonathan  ---------------------------------------------------------------  THE BIG STORY [Heavy competition weighs on Tiki’s 2023 top line]( Operating losses, however, did halve to US$46.3 million. --------------------------------------------------------------- TRENDING NEWS [Apple to invest $1b in Indonesia: investment minister]( Indonesia could get a huge prescription soon, to the tune of US$1 billion from Apple for a new manufacturing plant. It’s a huge step up for the company, which previously did not have any manufacturing operations in the country. Let’s see why it made this move. [Nvidia inks Vietnam AI deal, buys VinBrain]( Nvidia has signed an agreement with the Vietnamese government to set up AI R&D and data centers in the country. The tech giant also announced that it had acquired local healthcare startup VinBrain, although financial terms were not disclosed. ---------------------------------------------------------------  VISUAL STORY OF THE DAY [Weekly funding: Zomato’s $1b deal parks India-based firm on top]( Keep track of all the startup investment activities in Asia through our weekly funding list. --------------------------------------------------------------- TECH IN ASIA CONFERENCE RETURNS IN 2025 Save 85% on your presale tickets today Khailee Ng, Nick Nash, Dione Song, and 80+ other speakers inspired thousands from across Southeast Asia at the Tech in Asia Conference 2024 in Jakarta last October. We're building on that success for an even more impactful event next year, which will focus on the connections, insights, and opportunities that truly resonate. [Get presale tickets to Tech in Asia Conference 2025 at 85% off today!]( ---------------------------------------------------------------  EVENTS HAPPENING You can also check out a curated list of trending tech events [over here]( and Tech in Asia’s signature events [here](.  [Get early access to our events in 2025]( This year, we brought together thousands of brilliant tech minds from across Southeast Asia at our signature events. Ready for even bigger and better things in 2025? [Subscribe now]( to be the first in the know for the region’s hottest tech events! ---------------------------------------------------------------  WHO'S HIRING You can post a job [here]( or search for jobs [here](. - [System Analyst]( at Gefami Services Indonesia Jakarta, Indonesia - [Senior Marketing Executive]( at Speedoc Singapore, Singapore - [Investor Relations]( at PT Kalayudha Group Indonesia Jakarta, Indonesia - [Employee Branding Intern]( at TurnkeyID Malang, Indonesia - [Legal Compliance Assistant Manager ( AEON INDONESIA )]( at Influence ID Tangerang, Indonesia - [MS Engineer (IKN, East Kalimantan)]( at PT Sinergy Informasi Pratama Balikpapan, 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? Switch to a different frequency or get new content through our [preference center]( or [unsubscribe](. You can also break our hearts and remove yourself from all Tech in Asia emails over [here](  ---------------------------------------------------------------  Copyright © 2024 Tech in Asia, All rights reserved. 13A Neil Rd, Singapore 088810 A member of The Business Times.