Singapore’s Circles.Life lets go employees despite recent Warburg Pincus-backed funding

Mobile virtual network operator Circles.Life reportedly has let go of several employees and eliminated roles associated with non-priority projects less than a month after snagging investment from global private equity major Warburg Pincus, as reported by DealStreetAsia.

The company said the layoffs were a part of the company’s year-end review. “While we continue to hire top global talent for our priority business areas, we have also made difficult decisions recently, including eliminating roles whose projects are no longer a priority,” Circles.Life’s statement reads.

Circles.Life, which leases wireless capacity from a mobile network operator at a discount and resells it to consumers, has around 500 employees across its operations in Singapore, Taiwan, and Australia.

honestbee clears out furniture from habitat; police called in

Tensions between honestbee and landlord LHN Space Resources have escalated with police called in on Feb 28 after the embattled startup moved its furniture and fixtures out of its concept supermarket habitat, as per a Business Times report.

When BT visited habitat at 34 Boon Leat Terrace on the afternoon of Feb 28, police officers were seen interviewing staff of LHN. honestbee contacted the police after LHN staff appeared at the premises to question why the startup was moving its furniture out.

When BT visited habitat again on Saturday evening, more furniture, including about 150 chairs and dining tables, were lined up at the entrance of habitat, with a few honestbee vans parked at the loading area.

Also Read: Honestbee to discontinue Singapore food delivery service

A lorry stacked with the tables and chairs from habitat was seen driving away. Though it’s unclear where the furniture was being taken to, BT understands that honestbee has rented a new space in Genting Lane from March 1.

Filipino VC firm Kickstart Ventures to discover the country’s unicorns with US$198M funding disposal

Kickstart Ventures, the venture capital firm based in Makati City, Philippines, has revealed plans to utilise its US$198 million funding disposal in an effort to “nurture promising technology “unicorns” and help innovative companies grow into regional players across Southeast Asia”, as reported by Manila Standard.

“There is a 650-million person opportunity out there in Southeast Asia. We would like to see more Philippine companies thinking about the unmet needs across Southeast Asia, rather than just the Philippines. We would love to see more ambition from them,” said Joan Yao, VP (Investments).

Kickstart Ventures is a wholly-owned subsidiary of Globe Telecom and backed by SingTel and Ayala Corp. It invests in early- to early-growth stage tech startups globally by putting in capital, market access, and expertise in exchange for equity in startups anywhere in the world.

Also Read: Kickstart Ventures to manage Ayala’s US$150M Corporate VC fund in Philippines

It was established with a US$2.4-million seed fund in 2012. Just last year, Ayala announced that it would allocate US$150 million in venture capital initiatives managed by Kickstart Ventures.

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Malaysian e-commerce aggregator iPrice raises US$10 million in Series B financing

iPrice Group, an e-commerce aggregator platform in Malaysia, has raised US$10 million in a Series B funding round, led by ACA Investments, according to DealStreet Asia.

Other participants include Daiwa PI Partners, LINE Ventures and Mirae Asset-Naver Asia Growth Fund.

The company targets expansion beyond its primary price comparison unit, which accounts for 50 per cent of its revenues, operating at a 30 per cent EBITDA margin according to a statement.

Also Read: iprice raises US$4M Series A led by Asia Venture Group, Venturra Capital

“To pursue our next journey, we need to be where the consumers are. We need to engage users directly on our platform, continue our strong presence on Google as it remains a vital starting point for many shoppers, and enable partners across the region, such as media platforms, social media apps, and all the emerging super apps, to provide e-commerce content for their audience,” said Chmelar co founder of iPrice.

AI-driven fashion startup FlixStock raises US$2.5M to launch research centre in Singapore

Indian fashion startup Flixstock, which uses AI to remove the need for hiring models for a photoshoot, announced today that it has raised US$2.5 million from US/Singapore-based early-stage VC firm Wavemaker Partners, according to Tech In Asia. Other participants in this round were Seeds Capital and Leo Capital.

The additional funds will be used to launch a research centre in Singapore and expand in the US markets.

“Images are key to successful e-commerce, but the production of fashion images has never seen any innovation,” said Harindar Keer, Founder and CEO of FlixStock. “We offer a suite of solutions to help retailers create images in large scale at a fraction of the existing costs.”

Also Read: Morning News Roundup: Singapore’s Circles.Life lets go of employees despite recent fundraise

The company currently has seven international offices and more than 60 retailers, globally.

Malaysian startup investment firm NEXEA kickstarts programme for local startups

Malaysia-based startup investment firm NEXEA Angels announced today that it will bring back its programme for local startups and corporations to explore potential partnerships, pilot programmes and acquisitions, according to a press statement. 

Through this, startups will explore pilot projects with different organisations, validate business and explore real-world product testing. 

Additionally, startups will also gain mentor support and funding from NEXEA and its co-investment partners. Partners include property developer UEM Sunrise Berhad, Spritzer, Delloyd Group, shopper360 and Allianz General Insurance Company Berhad.

“The idea is about bridging the gap between startups and industry players – many startups desire a working relationship with corporate entities and our role is to help startups attain it,” explained Ben Lim, Managing Partner of NEXEA.

Singaporean knowledge-sharing startup Arches raises US$450K to expand its database

Singapore-headquartered knowledge-sharing services firm, Arches, has raised US$450,000 from Vietnamese accounting firm I Global and other individual investors, according to Deal Street Asia.

With this funding, the startup aims to expand its current database and continue to grow operations in Singapore, Tokyo, Ho Chi Minh City, Shanghai and Tashkent.

“In Asia, especially in the fastest-growing economies, industry information belongs to a small group of insiders, and public data and reports available to the market are extremely limited,” said Hiroki Kato, representative director of Arches.

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Image Credit: Flaunter.com

 

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Ever since I’ve been very young (which admittedly has been a long time ago), I’ve always striven for that perpetual pot-of -gold-at-the-end-of-the rainbow. Meaning, I always wanted to do the best that I could do to whatever it was I put my mind to.

Most times, this tendency to overachieve has worked in my favour. Come exams time and I’d be the first one to set up my daily schedules and study regime. During my professional life, it has manifested in the various successful career transitions I’ve made. 

Different strokes

I started off my career as a print journalist with Khaleej Times in Dubai, a 21-year-old who was given the heavy responsibility to report on the economic affairs of the United Arab Emirates as well as reporting on its foreign policy. After a few years, I realised that as much as I truly loved writing, TV was the next best thing.

I then moved to India to start my career as a broadcast journalist with one of India’s most well-known news channels but admittedly at the bottom of the television ladder. 

A lot of my friends and family at the time were concerned by my lack of supposed skills and even tried dissuading me from it. Once I moved there, the power of the medium was addictive and I soon started getting more comfortable in front of the camera and admittedly more confident in the skills I was gaining.

I then became one of the youngest foreign correspondents with an international news channel and at 25, was covering floods, civil strife and witnessing politics at a grand stage with a vantage viewpoint, all while still being very new to broadcasting.

Along the way, I was helped by several mentors and friends, who through their deep wisdom and words of support, through evenings of coffees and solidarity,  made me more confident in my choices. 

Inner critic

But surprisingly, throughout this time, the inner critic inside me started getting louder. Every time I would finish one broadcast report, which would be watched by millions, and even after receiving positive feedback from my colleagues and viewers, the inner critic would keep saying and repeating “ you’re an imposter” “they’ll find you out sooner than later” or “you’re not good enough”.

Also read: Women in tech: Carman Chan’s Click Ventures is one of the most consistent VC funds globally

Being a woman made it harder and simpler at the same time. Harder because you had to constantly prove to everyone that you’re good enough, strong enough and smart enough.

Simpler because it gave me the drive to achieve anything I could set my mind to, even during the deepest darkest moments of despair, which were aplenty. 

Starting over

I then made yet another transition when I moved to Singapore in 2013- from journalism to strategic communications. This was after being in journalism for more than a decade and once again, that inner critic’s voice started getting louder. 

From clients who were very happy with the communications counsel I was giving to colleagues whose voices of recognition kept getting louder, I could still not silence that ever perpetual inner critic.

She would pop out at the most inappropriate of moments- right before a big meeting, just as I’m speaking with journalists about a new product launch or even whilst having a video conference with some of my dearest colleagues.

She was the strongest when I was in some very recent unsupportive work environments, which made me realise that toxicity breeds negativity, the antithesis of creativity, and one which I wanted to consistently avoid. 

TED talk

Last year, I also gave my first TEDX talk and my inner critic had a great time then. She kept telling me how my talk was useless, how no one would care about what I’m talking about and how I’m going to make a massive fool of myself on stage. I almost believed her and thought of making a lame excuse to get out of it.

But in the end, I thought about all the people whose stories I’ve witnessed and how great an injustice I would be doing to them if I didn’t make their voices heard.

And, I’m so glad I did that as I not just enjoyed delivering the talk but more importantly, it became a landmark for me to follow when my self-doubt becomes at its loudest. 

Just a mirage

It was just a month ago that I then made a decision. I decided to let her go. 

All her shades of critique directed at my work, my body, my writing, how I’m not a good enough colleague, mother or daughter — I decided to hit back. I’m now not going to race after perfection because I’ve realised that’s just a mirage.

A mirage that makes us go through intense amounts of disappointment without letting us savour the moments of happiness that we can generate for ourselves and by that extension, for others. 

Also read: These four women are changing the venture capital landscape across Southeast Asia

From someone who was ashamed to share her work on social media, express herself more openly, I’ve become more comfortable with my own authentic voice. I’m no longer ashamed because I no longer want to be perfect. I just want to be the best version of myself. 

And how do I pull it off?

Here’s my list of how I’m silencing my inner critic and I hope that by sharing this, you can do it for yours too:

Picture yourself 15 years from now: Once you picture yourself, ask yourself at that time, “how did this moment or situation impact me?” If it’s trivial enough not to be remembered 15 years from now, then it’s probably not worth stressing about right now.

Challenge your inner critic: When you hear that voice of self-doubt creeping up, challenge him/her and tell him/her with “I’ve got this, thank you”. And stay away from those who bring her/ him out. 

Do the best you can without beating yourself over it: We all want to be the best professionals, best parents, partners and caregivers to whom we love. But we’re also human. Cut yourself some slack and give yourself some self-love.

Self-love: This is the best investment you can do in yourself. Go talk a walk, get that massage, watch that movie, eat that pizza or just go dancing on your own. Whatever makes you happy, go for that. It doesn’t make you selfish, it makes you selfless as you then have the capacity to give more. 

Surround yourself with positivity: This is the hardest, especially if you’re working. Whilst you can’t get rid of toxic workplaces, what you can choose is to not let them affect you and instead, surround yourself with people who make you feel good about yourself. And those who aren’t, you know what to do with them. 

On that note, I’m wishing each of you a great, healthy and happy start to the new year! Let’s go find our happiness and silence that inner critic.

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Sign up for the e27 Webinar with Contributor Prerna Suri: How to believe in yourself when no one else does

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Editor’s note: e27 aims to foster thought leadership by publishing contributions from the community. Become a thought leader in the community and share your opinions or ideas and earn a byline by submitting a post. We are discussing inclusivity at work and women all of March. Share your thoughts, tips and best practices on how we can make the startup ecosystem more inclusive, gender and culture diverse.

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Image credit: Sandie Clarke on Unsplash

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Singapore-headquartered ShopBack shares how it grew its value proposition in the Southeast Asian e-commerce space and attained year-on-year growth

The exponential growth of e-commerce has been one of the largest contributors to the rise of Southeast Asia’s digital economy. In 2019, Southeast Asia’s internet economy hit US$100 billion (or S$135.84 billion) for the first time — with e-commerce and ride-hailing platforms continuing to beat even the most optimistic of predictions.

Against this backdrop, ShopBack was launched to assist consumers in finding better deals, while helping merchants be more effective in marketing their products and services in the ultra-competitive online space.

Buy that fancy dress at half-price, and get some cash back? Yes, please!

“ShopBack is a platform that enables consumers to uncover value when they make purchases through our platforms on the website, mobile app, or [browser] extension. We also serve merchants by sending them traffic and orders to their respective platforms,” explains its Chief Commercial Officer Candice Ong.

“E-commerce platforms pay ShopBack a commission when we redirect customers to their platforms and if they make a purchase there. We then give a sizeable portion of this commission back to the consumers in the form of cashback, which is a reward for using ShopBack,” Ong added.

The company counts digital players like Lazada, Shopee, Agoda, Booking.com, Amazon, and eBay amongst its merchants and boasts a usage rate of at least one order every three seconds, with annual transaction volumes growing 250% year-on-year, reaching US$840 million just five years since its establishment.

How does ShopBack keep an even keel through its growth?

Previously working with Credit Suisse and leading e-commerce website Zalora, Ong, who currently manages ShopBack’s regional marketing and country teams, is no stranger to scaling digital platforms based on data-driven decisions. She shares with e27 some tips guiding ShopBack’s growth in the region.

Being savvy about how your customers’ shop

Southeast Asians’ constant search for value and the “better deal” in every facet has seen both consumers and merchants turn to ShopBack, Ong said.

“We have seen strong traction from merchants as we are seen as an effective media channel, given that we only charge for successful transactions,” she pointed out.

To successfully reach out to merchants and consumers, ShopBack has placed a strong emphasis on building local market knowledge, typically hiring local talent in each country who are comfortable interfacing with colleagues from across the region. 

Ong added: “It’s also very helpful to go down to the ground often to better understand the market conditions, as changes can happen quickly in this space.”

ShopBack’s emphasis on building local market knowledge by hiring local talent in each of its markets and “going down to the ground often to better understand the market conditions” have placed them in good stead.

Consumers’ browsing and purchasing behaviours also vary across the different markets ShopBack operates in, and consequently, these insights drive how the company’s marketing campaigns are designed and run.

“For instance, consumers in developing markets are much more active during weekdays and on mobile, whereas consumers in more developed markets like Singapore, Taiwan, and Australia spread their shopping behaviour more evenly throughout the week, and may use both the mobile and desktop platforms. This influences how we decide between weekday and weekend campaigns for different markets,” Ong illustrated.

Insights on Southeast Asians’ browsing and purchasing behaviours – which vary across markets within the region – drive how ShopBack’s marketing campaigns are designed and run.

Appeal to the mobile-first Southeast Asia customer

With the dominance of mobile in many developing markets, ShopBack has given attention to building a quality mobile experience. For instance, ShopBack offers App-to-App integration, so that customers can be redirected from the ShopBack App to merchants’ Apps seamlessly and reliably.

“We’ve seen tremendous uplift for merchants who have done App-to-App integrations with us, and will continue to do more to improve the mobile experience for our users,” Ong shared.

She added, “Likewise, since desktop is popular in markets such as Australia, Singapore, and Taiwan, we wanted to enhance the desktop experience by building the ‘ShopBack Cashback Button’. This is a browser extension that automatically notifies users if an online store is eligible for cashback, saving them both time and money.”

Different strokes for different [markets]: From seamless App-to-App integration for mobile-dominant developing countries to a browser extension for desktop users in countries like Australia, Singapore, and Taiwan.

In this spirit of customer-centricity, ShopBack has also created new features to enhance users’ buying experiences in the offline world. Its latest product, ShopBack GO, is a step into the food and dining space. Launched in partnership with Visa and Mastercard, the feature helps users discover and decide where to eat while saving them time and money — essentially, they get to dine out and be paid.

“By providing offline merchants such as F&B operators with a digital marketing platform, ShopBack empowers them to make better business decisions,” Ong remarked. “This is just a taste of things to come, as we believe there are other opportunities to develop new business models in this fast-growing space.”

Be prepared to fail, learn, and try — a lot

The fast-changing nature of e-commerce is heightened by the different consumer and merchant profiles in each of the Asia Pacific countries ShopBack serves, be it in Singapore, Malaysia, the Philippines, Indonesia, Taiwan, Thailand, Australia, and very soon, Vietnam.

“I think being prepared to learn by iterating is critical in such a dynamic and diverse landscape. What might sound good in theory may not work the way you hoped it would when you put it to the test in the market. It underscores the need to understand the local context and competitive landscape and have the humility to accept that you might be wrong so that a better solution can be found,” Ong said.

“What might sound good in theory may not work the way you hoped it would when you put it to test in the market”, Ong highlights, unscoring the need to understand the local context and having the humility to accept that you may be wrong.

She also credits the tenacity of ShopBackers who drive operations on the ground.

“A lot of ShopBackers have given up the creature comforts of past jobs, be it flying premium airlines or staying in luxury accommodation to do what they do now, and it reflects the grit and sacrifice that is needed to operate in these markets.

“I think that hiring well and having a strong culture, does enable individuals who are best fit to join and stay with the company. We also pay attention to employee engagement by monitoring and acting on feedback in our quarterly surveys,” Ong noted.

Never compromise on culture fit

The emphasis on culture is even more pronounced for senior hires, where ShopBack’s hiring committees test for culture fit during interview rounds that sometimes span many hours.

Internally, ShopBack’s training and development budget allows employees to acquire new skills and knowledge, be it through attending training programmes or completing online courses. The company also routinely invites external speakers and conducts formal training sessions to onboard employees on using internal tools so that they too, are fluent in making data-driven decisions.

Given how fast things in the tech world move, Ong is on the lookout for talent with the hunger to keep learning, as well as the humility to take feedback.

“Our wish list also includes the ability to problem solve by first principles: to be able to navigate the “why” and create a pathway through ambiguous situations. Also, being able to galvanise action without having direct managerial oversight is a key requirement to getting things done in a startup, especially when reporting structures are fairly flat,” she said.

Hunger to keep learning, humility to take feedback, ability to problem solve and navigate through ambiguity – qualities essential in the fast-moving tech world, and attributes that ShopBack looks for in their hires.

“Little” no more

The journey for ShopBack is just starting. With supporters such as Ebates, the US behemoth in the cashback space now partnering ShopBack, this once small company from Block 71, an enclave in the western region of Singapore for up-and-rising startups, has ambitions to serve even more customers wherever they are in this part of the world, and maybe one day, beyond.

Its recent partnership with Ebates brings operating experience in the cashback space, effectively reinforcing Shopback with the might and track record of a global cashback brand. This signals a bright future for the company as they usher in a new era that seeks to revolutionise the e-commerce space.

Ong: “This is just a taste of things to come, as we believe there are other opportunities to develop new business models in this fast-growing space.”

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This article first appeared here.

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Humans are naturally wired to be oriented towards the other and sociality is a dominant factor that has shaped our physiological and emotional needs. This makes the idea of co-working space a popular option amongst independent workers and startups.

It is based on the concept of connecting and communicating with like-minded individuals, thus giving rise to another trend called “co-living” — a housing solution where people with common interests share a living space together.

This is great for working professionals, freelancers and travellers moving to a new city. Here, e27 lists down nine leading co-living spaces perfect for working professionals, travellers and freelancers across Southeast Asia.

1. Dojo Bali

Located in the south coast of the Indonesian island of Bali in Canguu, Dojo offers a two-storey co-living space a few minutes away from the famous “Echo Beach”. This space mostly attracts a vibrant community of freelancers, startups and founders from across the globe.

All rooms have an en-suite bathroom and access to a shared kitchen, chill-out areas, pool, garden and an area for sunbathing. Situated near local warungs (cafes), grocery stores, gym, yoga studio, health food shops and bars, the coliving space also has a coworking space just minutes away.

However, it is tough to find rooms here, and pre-booking is recommended. For individuals who are on a tight budget, this might not be the best option. 

What’s unique about it: Dojo soft landing package including airport pickup, SIM cards, surfing lesson, and yoga lesson, among other perks, so you don’t have to worry for anything.

Location: Bali, Indonesia

Contract terms: No contract but a minimum of 7 days stay

Cost: US$1140/month for the package.

 

2. Draper Startup House

Draper Startup House (formerly ‘Tribe Theory’) aims to create an “entrepreneurial-centric accommodation” by utilising hostel beds to put like-minded people under one roof.

It is clean and well-maintained with spacious dorms and washrooms. This makes it an excellent steal for entrepreneurs who are on the go looking for opportunities and meeting other like-minded individuals.

Also Read: Tribe Theory rebrands to Draper Startup House after a US$3.5M investment from Tim Draper

Every location is strategically built so that residents don’t have to worry about availability of food, groceries, etc. Even though it can be difficult to find accommodation for long-term, pre-booking is highly recommended.

What’s unique about it: Budget-friendly and offers tools for aspiring entrepreneurs like Draper Startup House Ventures, where entrepreneurs can submit pitch decks to the Draper Venture Network, events among others.

Contract terms: No contract but limited availability for long-term residents

Location: Singapore, Bangalore, Bali, Austin, Lisbon, Manila, Yangon, Tallinn

Cost: Pricing depends on the country

 

3. Hmlet 

Hmlet is a fully-furnished serviced co-living apartment in Singapore that has widely spread across different regions in Tokyo, Hong Kong and Sydney.

It guarantees a membership plan with a fully-furnished home, utilities, unlimited WiFi, weekly cleaning, maintenance, access to community events for people looking for flexible and easy options.

The apartments are located in prime business areas in Singapore. The different room sizes offer flexibility in price without compromising on location.

What’s unique about it: Flexibility in pricing options. Members can choose from ‘master’, ‘regular’, or ‘pocket rooms’.

Contract terms: 3 months minimum lease period

Location: Singapore, Tokyo, Hong Kong, Sydney

Cost: US$900/month onwards.

 

4. Spiced

Located in the capital city of Vietnam, Spiced advertises itself as “having the comfort of Airbnb with a co-working space”. All bedrooms come with a comfortable bed and a private bathroom. Guests also have 24×7 access to the co-working space. All utilities, room cleaning and laundry, are included with most co-living options.

If you’re at Spiced, food is also not something to worry about as a community-spiced lunch is organised every day where members can connect with one other.

What’s unique about it: Delicious Spiced Community Lunch

Contract terms: No contract but limited availability for long-term residents

Location: Ho Chi Minh, Vietnam

Cost: US$608/month.

 

5. Cove Living

Apart from having a ready-to-move-in housing option, Cove Living in Singapore uses AI to find the right flatmate based on one’s living habits, values, and interests. The company meets all the residents who apply through the viewing process and chats with everyone and understands individual requirements. The data is then added to the website.

Also Read: Flexible housing platform Anyplace enters Southeast Asia, teams up with coliving operators

It comes with three membership plans — normal plan, flat-sharing, and studio apartment, all which have different perks attached to it.

What’s unique about it: Finding a flatmate through AI

Contract terms: Flexible with a three-month minimum stay 

Location: Singapore

Cost: US$1220/month onwards.

 

6. Lyf

A vibrant co-living space, lyf caters to both the work and play elements of residents. It caters to both short- and long-stay residents (millennials, technopreneurs, self-starters, digital nomads, and aspiring entrepreneurs).

The space boasts “Instagrammable… social zones” that consist of co-working spaces and an area for hackathons, innovation talks, music jamming sessions, cooking sessions, and workshops which are organised weekly by lyf’s Ambassador of Buzz (AOB).

The length of stay can be tailored, from short term to long term. Typically, condominium rental units have a minimum stay of three months.

What’s unique about it: The laid-back chill vibe, Instagram worthy

Contract terms: No contract for short term rentals and 3 months minimum for condominium rentals

Location: Singapore, Cebu, Shanghai, Fukuoka, Kuala Lumpur, Bangkok

Cost: Pricing depends on the country

7. Hub Hoi An

This is for those who want to stay away from the hustle and bustle of city life. Hub Hoi An is a co-living and co-working space in Vietnam offering a professional work environment for remote workers, digital nomads, local entrepreneurs and freelancers.

Events, workshops, open talks, networking dinners, excursions, daily community lunches and social meetups are hosted regularly in this space.

Also Read: The future way of life is co-living, and these 7 Thai spaces help pave the way

They have options of living in a ricefield homestay or a villa with a complete package that includes perks like one free bicycle, unlimited Vietnamese coffee, SIM card and free lunches.

What’s unique about it: Package perks, location

Contract terms: No contract for short term rentals and 3 months minimum for condominium rentals

Location: Hoi An, Vietnam

Cost: US$966/month depending on the living option.

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Image Credit –  Helena Lopes

 

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