You only have to log onto your social media channels to know that in June the world celebrates LGBT Pride. Year on year, it’s become an increasingly common sight for brands to change the colour of their logo to the iconic rainbow flag that has been the global symbol of the LGBTQ+ community since it was devised by Gilbert Baker in 1979.

These acts definitely help to create awareness and support, but is it enough? Is this rainbow slapping tokenistic, or a real show of support for the LGBTQ+ community? I’m always intrigued to see what else businesses are doing when you scratch below the surface to champion this community.

And I really hope that businesses are not only doing more but that it extends year-round, not just for the month of June. Pride, along with every intersectionality, should be socially accepted so that we don’t need a month to celebrate it. 

I’m not part of the LGBTQ+ community. This means I will never fully be able to appreciate the challenges this community faces and the discrimination they frequently feel. I am a proud ally and a leader, so I have a responsibility to continually challenge the status quo.

Diversity is embedded in my company’s DNA; our founder Steve is part of the LGBTQ+ community, so when the band’s frontman is leading the chant, it’s very easy for the rest of the team to pick up an instrument and play to the beat.

Great leadership means developing a culture that celebrates individuality, and when you have leaders who represent it we can attract diverse talent.

We know that we need role models to help break down the barriers of entry and for people to see leaders with who they can identify with. It’s like a snowball effect as diversity leads to more diversity. Here are three initiatives from my agency that have helped drive great inclusion at distillery. 

Also Read: From our community: Pride Month special, Haulio founder on disruption in logistics, and more

Diversity means being diverse

Having so many backgrounds and beliefs in the team is amazing when it comes to creative brainstorms or trying to find solutions to client problems or briefs. Different perspectives birth ideas that you could never achieve if the team were all cut from the same cloth. This is especially important in APAC where we have such a diverse melting pot of people.

If you have someone in your team that comes from that country, is embedded in that culture, or has similar values to the target audience, they can act as a fantastic sounding board for what will work, and what won’t. We use this logic whether we’re walking (or Zooming) into a New Business meeting, or delivering a multimedia campaign. 

Everyone has to get stuck in

But our team doesn’t have all the answers; no one does. Diversity is a continual journey of exploration, so it’s important that we fuel debate and education amongst our employees. We recently ran an initiative called the Diversity Type Project to promote diversity in the creative industry.

Whilst every team member at the distillery was involved, we had to engage a range of people from different organisations and bodies that could add value and experience to the narrative. We knew we didn’t have all the answers, but by asking for input from the people we’re trying to speak to, we were able to find the right direction.

I find that a lot of brands and businesses aren’t sure what to say, or they are worried about getting criticised, so they don’t say anything at all. But by staying quiet, you’re not helping either.

What is amazing about diversity is that it brings diverse opinions. And you can’t, and won’t, please everyone. But as is human nature, we learn and evolve by giving it a go.  

We learn from others to create a community

We also actively surround ourselves with people and organisations that we can collaborate with or reach out to when we want to broaden our thinking. Steve (our founder) and Lucy (our strategy director) sit on the board of ‘Outvertising’; a not-for-profit focussed on making advertising more LGBTQ+ inclusive.

We partner with the Diversity Standards Collective, which gives us guidance on how brands communicate with specific communities. We also have a number of allies from the creative industry who are part of different communities that we consult when we need a specific opinion.

Also Read: 5 handy tips to create a diverse and inclusive workplace culture

We also bring these people into our business to run education sessions, feature on our podcast, or share work that they have created. All of our staff have access to this, and we encourage everyone to get involved. 

The acceptance of the LGBTQ+ community is growing in momentum across APAC, and it’s only a matter of time before nations like Singapore legalise same-sex relationships (it still blows my mind that I even have to write that).

Until then the least I can do as a business leader in APAC is be an active ally to the community.

I encourage everyone else to do whatever they can within their remit to break down the barriers and actively champion equality. It will make our work, society and workplaces much better when we embrace each other’s differences.

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Southeast Asian car trading platform Carsome has acquired an equity stake in Indonesian offline car and motorcycle auction service company, PT Universal Collection (PT UC).

The details of the deal undisclosed.

Through this investment, Carsome intends to accelerate its automotive transaction volumes in Indonesia and expand its network coverage and access to financial and leasing providers.

The company’s dealer partners will also enjoy more inventory diversity and broader options through PT UC.

On the other hand, PT UC’s suppliers will be able to make use of Carsome’s wide demand pool to improve its customer base.

Additionally, Delly Nugraha, Country Head of Carsome Indonesia, has also been appointed as President Director of PT Universal Collection.

Commenting on the deal, he said, “We are really excited to invest in PT Universal Collection. This investment serves as a strategic move for Carsome to open up more opportunities and networks, and to significantly expand our operations in Indonesia, a key Southeast Asia market for Carsome.”

Also Read: Carsome closes US$50M Series C; aims to be operationally profitable by end-2020

“Through PT UC’s access to used car supplies in the market, Carsome’s dealer partners will enjoy more inventory diversity and broader options. PT UC’s suppliers, on the other hand, will be opened to a wider demand pool, broadening their accessibility in the used car market,” he added.

Founded in 2015, Carsome provides end-to-end solutions to consumers and used car dealers — from car inspection to ownership transfer to financing.

Every car that transacts on the platform goes through a comprehensive 175-point inspection, and every car purchase is backed up with an extended warranty and a money-back guarantee, it said in a statement.

The company continues to grow fast claiming to have an annualized revenue of US$800 million with plans to achieve US$1 billion this year.

Carsome is seeing dynamic growth across its Southeast Asian markets, particularly with rising demand for used cars as more consumers opt for private car ownership amid the COVID-19 pandemic.

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Image Credit: Carsome

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(This article has been updated with the name of the investor)

OsakaKuma, a Singapore-based online beauty store that sells Japanese cosmetics, has announced that it has secured US$6 million from local investment company SEEINFRONT Capital in a pre-Series A round of financing from undisclosed investors.

This round brings the startup’s total funds raised to date to US$8 million and follows a US$2 million funding from undisclosed investors in 2020.

With its first store launched in Bugis+ in Singapore in September 2020, OsakaKuma has since opened three more outlets in Paya Lebar Quarter, Wisma Atria and Vivo City. Wisma Atria, the brand’s flagship store was opened in June 2021.

With the fresh funds, the company is set to open three new outlets across Singapore by July-end and has plans to open more outlets in the years to come. This is part of an effort to cater to more customers around the neighbourhood and to create more touchpoints for consumers.

Japan is known for being one of the dormant beasts of the beauty products industry, which has now awakened. Some even predict J-Beauty to be the next industry phenomenon in the US and worldwide.

OsakaKuma was founded in 2020 by Tony Wang with the goal of making it Singapore’s first beauty and personal care store that would offer a data-driven product selection of exclusive Japanese brands.

The company uses data from over 100,000 surveyed customers from 15 online stores worldwide to target consumer needs and demands so that solutions can be offered in a more precise way. 

Also Read: Social Bella snags US$56M to further expand its beauty-tech biz across SEA

By doing this, Wang believes that OsakaKuma can help people tackle their personal beauty issues in a much more effective and cost-efficient way. 

“While we see the trend has grown for e-commerce, we believe that many would still prefer to enjoy the physical shopping experience, having our in-store beauty curators to guide and help them,” he said.

Launched as an online-first store, the company now has four physical stores across the city-state. OsakaKuma has also spread its footprint in six countries, opened 15 online stores, and made over 1,000 Japanese single-brand products available to the rest of the world. 

Globally, the beauty industry is only getting stronger. Since the onset of the pandemic, there has been a growth in the skincare and personal care category as well as a growing demand for overseas beauty products since travel restrictions have made it hard for people to travel.  

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Image Credit: Osakakuma

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A quarter of full-time employees in Singapore reported feeling less connected to their company’s community while working remotely, a new study by Qualtrics has revealed.

They miss the spontaneous interactions with colleagues, exposure to different ideas, and simply being around others, said the survey, titled ‘The new rules of engagement: A better way to work in Southeast Asia’.

With two-thirds of organisations in the island nation still to announce their post-pandemic office plans, the study outlines the experiences employees want to see as their employers rethink and redesign the way teams work.

“Creating a culture of belonging is the top driver of employee engagement, as well as a positive influence on engagement, intent to stay, and wellbeing, meaning it is critical that initiatives focused on inclusivity and connectivity are an integral part of every organisation’s post-pandemic office plan,” said Steve Bennetts, Head of EX Growth & Strategy, Qualtrics.

Also Read: Being a remote-working tech-writer and father has taught me these things

“The challenge facing employers today as they develop their post-pandemic plans is equally as big as those last year. This is because as organisations drive toward a more flexible and hybrid future, it’s important to remember that to deliver an incredible experience they need to take into account and act on the diverse needs of every employee,” added Bennetts.

Key findings

1. The impact of hybrid work on employee wellbeing

While the number of Singaporean full-time employees say their personal wellbeing has declined during the pandemic — 15 per cent in May 2021 compared to 26 per cent in April 2020 — stress, anxiety, and concerns about job security continue to have an adverse effect on the workforce.

The characteristics of working remotely that people like least are often related to wellbeing: difficulties separating work and personal lives (45 per cent), a lack of social connection (45 per cent), difficulty collaborating (43 per cent), and feelings of isolation (32 per cent).

2.  Age and role impacts wellbeing and connectivity

Millennials and Gen Z workers were more likely to say they felt more connected to their company’s community, and that their mental health had improved compared to those from Gen X. Job type also impacted wellbeing and connectivity, with higher numbers of managers, team leaders, and c-level executives reporting improvements to their mental health compared to individual contributors and trainees.

Also Read: Does remote working really work?

In contrast, managers, leaders, and c-level executives were the least likely to feel connected compared to individual contributors and trainees.

3.  Improving wellbeing in the hybrid workplace

To better promote and cultivate wellbeing in the workplace, employees are calling on their employers to provide benefits such as wellness-related reimbursements (50 per cent), enforced working and non-working hours (42 per cent), wellbeing days (38 per cent), and free counselling sessions (25 per cent). Respondents identified flexible schedules, a better work-life balance, and relocation opportunities as the top three things they’ve enjoyed most in the way employers have operated during the pandemic.

4.  Improving productivity in the hybrid workplace

Collaboration, productivity, and task management software, along with phone and internet expenses, were listed as the top 5 tools and resources employees want to see offered by their employer when working remotely: team communication software (47 per cent), productivity software/tools (45 per cent), covering home internet and phone bills (39 per cent), task management tools (38 per cent), and work phone (37 per cent).

5.  While connectivity suffers productivity thrives

The majority of Singaporeans (65 per cent) indicated a strong preference for hybrid work models and flexible working hours, with 80 per cent saying working from home has enabled them to be equally or more productive as compared to pre-pandemic levels. This is due to fewer work interruptions, more control over their workspaces, and fewer in-person meetings.

Also Read: The beginning of the decentralised office — are you ready for a remote working future?

Similarly, more than three-quarters (78 per cent) of respondents reported that they perceive their co-workers to be more or equally efficient in the delivery of work-related tasks since working remotely.

6.  The impact of vaccines on a return to work

While half of the respondents said they are happy to return to the office when restrictions are lifted, 25 per cent said they won’t return until everyone is vaccinated and 25 per cent remain unsure. A significant portion of the workforce also believes employers have an important role to play in the vaccine rollout, including providing readily available information (39 per cent) and encouraging employees to be vaccinated (39 per cent).

In contrast, 32 per cent of respondents said employers should not get involved.

The data for this report comes from a study that Qualtrics conducted in May 2021. Using an online survey, Qualtrics collected data from 585 full-time employees in Singapore.

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Photo by Kristin Wilson on Unsplash

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Things have changed in this new normal –consumer needs and expectations have shifted dramatically since the onset of the COVID-19 pandemic.

Since early 2020, the pandemic has led to major restrictions on personal mobility. Our experience at TWG Tea in the past 18 months has confirmed our belief that customers increasingly expect to access their favourite brands through both brick-and-mortar as well as online retail experiences.

In 2020, TWG Tea saw growth in every market we have an online presence in. Furthermore, we have noticed that this new online shopping trend is remaining consistent even in instances when social distancing measures are lifted, proving that consumer behaviour has evolved.

What we did

When we launched the TWG Tea mobile commerce app in 2013, it was the first of its kind in the tea industry. No other tea brand at the time had invested in m-commerce. We wanted to stay ahead of the curve and connect with our customers where they were increasingly spending their time — on their smartphones.

From then on, we have been extending the reach of our delivery network globally, while gradually improving our customers’ online and offline retail experiences at the same time. Today, the TWG Tea app has over four million users worldwide.

By 2019, we were already available in 58 countries through TWGTea.com and our physical stores in major cities across the globe. Then came COVID-19 last year.

To bridge the gap caused by social distancing, in August 2020 we started expanding our online retail footprint globally, focusing on establishing new official online stores in third party marketplaces.

Also Read: TWG Tea takes traditional track with its mobile commerce platform

We prioritised the following:

• Countries where we do not have brick-and-mortar locations
• Markets we anticipate have potential for brand growth
• The rest of the country beyond the capital cities we have physical stores in

What our strategy delivered

By the end of 2020, we surpassed our target of launching 20 new official online stores in third party marketplaces. We saw a 98 per cent increase in online retail in 2020, compared to the same 12-month time frame in 2019.

It also gave us the opportunity to extend our reach into markets such as Germany, Spain, Italy and the Netherlands where TWG Tea does not have existing physical stores.

Where we already have physical stores located in major capital cities, such as London, we have been able to extend our reach to the rest of the country via third party marketplaces.

Here’s what we learned:

Leverage and collaborate

Establishing our own flagship or official online stores in third party marketplaces helps us to protect our brand equity and assures customers that they are purchasing genuine TWG Tea products. We chose to work with marketplaces that have created platforms committed to featuring authentic brand owners. They take on the responsibility of registering and protecting our intellectual property.

We are conscious that as a luxury brand, our brick-and-mortar locations are unlikely to be on every street corner around the globe. Adding third-party marketplaces to our e-commerce mix gives us a unique opportunity to reach out to customers who are at different points of their consumer brand journey with TWG Tea.

They may already be loyal TWG Tea customers, or are curious about experiencing TWG Tea, but not ready to commit to placing an order through TWGTea.com. In regions where consumers are already accustomed to shopping online, third party marketplaces also make it easy for shoppers previously unable to buy TWG Tea products to make their first purchase online.

Make no compromises

Since the pandemic last year, we have doubled the size of our e-commerce team to support our growing online business and operations. In order to meet the significant growth we anticipated in online sales, we also made a 6-figure investment in an e-commerce warehouse and fulfilment centre located in the central part of Singapore. We fulfil all online purchases in-house so that we deliver a consistent brand experience.

Also Read: 7 non-dairy milk startups that can make your vegan transition easier

As most of our products are packaged by hand, we focused on designing a facility that would help our e-commerce colleagues. Ergonomic workstations were constructed specifically to suit our different teams and products.

Our e-commerce team picks, packs and customises all online orders by hand for Singapore and the rest of the world from this facility.

Listen to your customer (as old school as this may sound)

The global pandemic has led to major restrictions on personal mobility. In addition to expecting a seamless shopping experience, our customers are seeking familiarity and a brand experience online that resonates with them. Tailoring our online retail offerings to suit each market has helped us to better connect with our customers.

We achieve this by being sensitive to market specifics such as:

• Language
• Gifting seasons
• Buying patterns
• Cultural preferences

Even simple things like monitoring the news to get a sense of the general mood and feeling on-ground can help us to better connect with our customers.

For example, in Singapore, we launched our work from home campaign — Stay Home, Stay Calm with TWG Tea —  in May this year, three days after the city-state was placed on Heightened Alert. We anticipated that our customers would be feeling low.

Knowing that most people were likely to remain at home, our intention was to help ease customers into making their TWG Tea purchases online. The campaign offered customers a small incentive to shop online, with messaging that changed from week to week.

Our outreach touched on different needs such as taking the opportunity to unwind by enjoying tea at home and connecting with loved ones we cannot see in person through thoughtful gifting. Our customers responded positively to these calls to action.

Also Read: Lahapp, the Indonesian startup that wants to make sure you do not miss your favourite food cart

This year, the number of TWG Tea official online stores in third party marketplaces continues to grow. We plan to be in new markets in North and South America by the end of 2021.

Furthermore, consumers will have a wider selection of languages and currencies to choose from when they shop at TWGTea.com by the end of 2021.

As we scale our e-commerce operations, we are also searching for more ways to run our business sustainably.  One of our priorities is to avoid using packing materials unnecessarily in our deliveries. We aim to achieve this by creating customised 100 per cent recycled carton boxes which will protect our products and reduce the need for additional cushioning inside the box.

In addition, reducing the extra volumetric weight of packing materials can potentially reduce our carbon footprint. We are also moving away from the use of plastic when packing our products, with the exception of our most fragile tea accessories.

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Editor’s note: e27 aims to foster thought leadership by publishing contributions from the community. This season we are seeking op-eds, analysis and articles on food tech and sustainability. Share your opinion and earn a byline by submitting a post.

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Despite being in the thick of a pandemic, Singapore-based financial aggregator MoneySmart Group still managed to record strong business growth in 2020. The company generated US$16.7 million in annual revenue, a 25 per cent increase compared to the previous year. Launched in 2009, MoneySmart is one of Southeast Asia’s largest personal finance portals. Apart from providing financial insights, it also helps consumers find relevant personal finance products such as loans, credit cards, and insurance. MoneySmart does not sell any of these products, but it does earn a commission from banks and insurers via a built-in referral business model. The company claims to have served more than 100 million people across four countries: Singapore, Hong Kong, Taiwan, and the Philippines.

“One of the most effective ways to reach our customers is by making sure that we’re visible with super contextually relevant content based on what they’re looking for at that time,” explains David Harling, CMO of MoneySmart Group. Joining the company in January 2018, David has overseen an in-depth business transformation at MoneySmart, which has helped the company almost quadruple its revenue within three years.

Speaking with ContentGrip, David provides a glimpse into how MoneySmart’s marketing engine operates to drive growth, capitalising specifically on first-party data and original content.

Managing first-party data is important

Harling believes in the importance of building first-party data for marketing purposes. When he joined the team three years ago, they started using the data management platform (DMP) Oracle BlueKai to integrate MoneySmart’s marketplace comparison side with its content assets.

As a result, the team now has an advanced understanding of customer data.

With a DMP in place, MoneySmart can also collect behavioural data of everyone who visits the site (e.g. what content they are reading, which products they are comparing, and whether they have already converted into a customer). The company then uses this data to create highly specific audience segments.

Also Read: MoneySmart founder Vinod Nair on why his company will never lose its relevance

“One of the biggest channels for customer acquisition is taking that first-party data and using it to drive retargeting to re-engage those customers that were on our platform who might not have converted or who might not have finished their research or education process,” he explains.

Armed with first-party data, MoneySmart can also leverage third-party data like Facebook’s lookalike audiences, for the purpose of retargeting campaigns.

Looking to take it one step further, Harling is now planning to transition the company’s DMP system into a customer data platform (CDP). Unlike a DMP, which gives an overall look at the audience, a CDP would provide the MoneySmart team with a clearer view of individual customers and their activities. Thus, the marketing department could make informed decisions about each and every case.

For example, the team could personalise their messaging and offer better solutions to users.

“And then, suddenly acquisition becomes less important. It’s more about retention and customer lifetime value in a digital marketing play,” he adds.

Because of this dynamic, Harling is not overly concerned with the imminent arrival of a ‘cookieless’ world. He says, “Our retargeting efforts aren’t reliant on third-party data.”

As an alternative, however, he does think it’s a good idea for marketers to explore second-party data (leveraging first-party data from other businesses). That said, it can be tricky to overlay both data assets (first-party and second-party) while avoiding a potential conflict of interests.

MoneySmart’s user acquisition play

Another crucial aspect of MoneySmart’s marketing success, according to the CMO, is its content. SimilarWeb estimates that more than 80 per cent of the company’s traffic comes from organic search.

The company’s most mature product, MoneySmart Singapore, is estimated to serve around 1.3 million visitors each month. Harling says that the team has historically invested a lot of time into content and has become a well-known independent voice around personal finance in Singapore.

Currently, 4,000 out of MoneySmart.sg’s 7,600 pages are blog posts, while the rest are part of the marketplace’s product pages. David says that these articles are optimised around the ‘discovery’ and ‘consideration’ parts of the marketing funnel (as opposed to pushing for the final transaction).

Also Read: Singapore finance portal MoneySmart raises US$10M to boost presence in APAC

In this way, the editorial team can focus on crafting what they know is meaningful content for consumers at various life stages.

Beginning his marketing career in the search department, the now-CMO notes that Google’s SEO algorithm is different in each geographic market.

This is one of the reasons the team uses different languages for each site: English (Singapore, Hong Kong, and the Philippines), Cantonese (Hong Kong), and Traditional Mandarin (Taiwan).

According to Moz, MoneySmart Singapore has garnered an impressive 717,000 inbound links from 4,800 domains. Harling says that inbound links are more of a quality game than a quantity game. He notes that the team regularly receives strong SEO juice from Yahoo Finance Singapore and MSN thanks to a news syndication strategy.

According to him, Google may become even smarter soon, going beyond links when scoring websites. “I think they look at brand mentions. And so any sort of organic PR or editorial strategy can carry some weight,” he explains.

He reminds marketers that they still need to provide the very best platform experience to users. In this respect, things like site speed and UX truly matter.

Harling is also considering how strategic distribution partnerships for MoneySmart’s content may look in the near future. According to him, this could mean letting other businesses carry and publish MoneySmart’s assets.

These partnerships could potentially help David’s marketing team extend the site’s reach, while also controlling the rising costs of essential tools like Google and Facebook.

In early 2018, for example, MoneySmart partnered with Singapore’s online marketplace Carousell. Carousell users were able to discover recommended financial listings (MoneySmart’s product pages) quickly inside of the app.

Don’t just think about user acquisition

Harling advises fellow marketers not to focus solely on customer acquisition, but pay attention to the overall customer experience.

Also Read: Branding lessons from a first-time startup CMO caught up in a pandemic

He explains, “You can have the most efficient customer acquisition machine. But if you fail to deliver on the experience, essentially, you’ll find yourself re-recruiting that same person […] as opposed to retaining that person and actually giving them an experience that matters.”

Marketers will end up spending more on user acquisition if they don’t care about customer experience. CMOs, in particular, should start caring about customer experience to retain and lengthen customer lifetime value.

“For any business, your attitudes toward marketing should strongly connect to the needs of customers right now,” explains Harling, adding that such needs can be dynamic and change quickly in a three-to-six-month window.

In MoneySmart’s case, the marketing team has identified that customers in Singapore are already financially disciplined, and they’re now looking to protect themselves, even as the pandemic winds down.

This has driven tangible demand for insurance, and the company is now doubling down on related content marketing efforts.

When it comes to producing meaningful, original content, he adds, “I would encourage you to really understand your target consumers, and what’s important for them, as opposed to what you think they want.”

This article appeared first on ContentGrip.

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Editor’s note: e27 aims to foster thought leadership by publishing contributions from the community. This season we are seeking op-eds, analysis and articles on food tech and sustainability. Share your opinion and earn a byline by submitting a post.

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Singapore-based logistics and supply chain management integrator, Locad, has raised US$4.9 million in a seed round led by Sequoia Capital India’s Surge.

Other backers include Antler, Febe Ventures, Foxmont, Global Founders Capital, the Gokongwei Family, Hustle Fund, and unnamed angels.

Locad was launched in 2020 by ex-Zalora and ex-Grab executives Constantin Robertz, Jannis Dargel, and Shrey Jain. They decided to create the startup when they realised that not everyone with online business has knowledge about running logistics.

Also Read: Locad founder on building SEAs first cloud logistics network in the midst of COVID-19

“I figured that not every brand, retailer and business that want to sell online should have to go through figuring out how to build warehouses, the tech that supports it and runs their logistics. Because of that, we built Locad as the on-demand supply chain and fulfillment network for e-commerce brands so they can focus on selling more and developing great products and not figuring out how to run warehouses and logistics,” said Robertz.

Through its platform, brands can manage their orders and stocks from a single virtual pool across multiple sales channels, with visibility of sales, orders, inventory, and service levels.

Locad’s customers also have the opportunity to integrate with e-commerce platforms such as Shopify, WooCommerce, Amazon, Shopee, Lazada and Zalora.

The startup is currently a part of Surge’s fifth cohort of 23 companies.

“We are now serving more than 30 brands across the Philippines, Singapore, and Australia, helping small businesses to some of the largest retailers deliver tens of thousands of items each month. We’re excited to be providing logistics infrastructures to e-commerce businesses of any size in these countries and we will continue to grow our presence across the region,” shared Dargel.

The logistics market in Southeast Asia is expected to total US$55.7 billion by 2025 – demonstrating the growing demand and necessity for flexible, technology-enabled solutions.

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Image Credit:  Locad

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Malaysian integrated digital media group, iMedia, has signed an agreement to acquire 100 per cent stake in Lovelife Technologies, owner of community online beauty store Favful.

The financial details remain undisclosed.

This acquisition marks iMedia’s entry into the commerce business and is in line with its mission of becoming an integrated digital media group.

According to a press statement, iMedia will be responsible for the acceleration of Favful’s revenue for its influencer advertising unit as well as branded content. It is also tasked to generate lifestyle content and engagement around its website and social media platforms.

Also Read: Malaysian digital media group REV Asia to acquire iMEDIA for US$9.6M

As part of the deal, all social media assets from Favful will be fully merged into iMedia’s ecosystem.

“The current technology behind Favful’s platform allows it to analyse the sentiments of our users and community’s voices, giving us the opportunity to understand their interest and demand better and will now be extended to the online websites of iMedia to deliver more targeted content that is relevant to our users,” said Voon Tze Khay, CEO and co-founder of iMedia.

Founded by CEO Sasha Tan, Favful’s social commerce platform curates recommendations from its community members based on the customers’ skin type, skin concerns, and lifestyle choices. This is done by combining crowd intelligence from its community preference intelligence generated through machine learning.

“Since our launch in 2016, Favful has grown into a trusted community marketplace. We house over 3,000 beauty and lifestyle influencer members reaching out to potentially 146 million social media audiences. By integrating this reach with ITTIFY (iMedia’s existing influencer agency), our combined social media audience reach is well over 172 million,” said Tan.

iMedia owns and provides digital advertising and marketing, customised content production, and solutions for popular local language sites, premium video streaming networks, and social influencer platforms. Over the past year, the company invested in/acquired half a dozen companies, including OhMedia, Ittify, Goody25, BeautifulNara, and Moretify.

As per a press statement, the iMedia network of owned and managed websites currently reaches over 15 million Malaysians every month.

Also Read: iMedia acquires BeautifulNara to expand its digital media footprint within Malaysia

“Together with the wide-reach audience network and distribution strength of iMedia, we are confident to expand Favful’s community to become a fully integrated digital platform in the media, commerce, and influencer marketing business that will provide our customers and consumers the solutions and experience that matters. One of the key areas of focus is to accelerate Favful’s and all of iMedia’s brands social and live commerce initiatives and expanding beyond the beauty lifestyle segment,” said iMedia’s Tze Khay.

iMedia claims it is looking to complete its IPO on Bursa Malaysia via its own acquisition by Rev Asia, currently listed on Bursa Malaysia for approximately MYR40 million (US$9.81 million). Upon approval by regulators and shareholders, the Favful acquisition will be part of iMedia’s move to Bursa Malaysia.

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Image Credit: iMedia

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Pickupp, a Hong kong-based on-demand delivery startup with operations in Singapore, Malaysia, and Taiwan, announced today that it has closed its ~US$15 million in Series A and Series A+ financing round from a group of regional strategic investors.

The Series A+ round was led by Taiwan e-commerce giant PChome and Cornerstone Ventures. They were joined by existing investor Swire Properties, and new investors including Cathay Venture, DRIVE Catalyst (the corporate venture arm of Far Eastern Group) from Taiwan, and the Jardine Matheson Group and Zipx from Hong Kong.

The Series A funding process commenced in November 2020 and came from Vision+ Capital, Alibaba Entrepreneurs Fund, Cyberport Macro Fund, Swire Properties New Ventures and SparkLabs Taipei.

Also Read: Pickupp snags Series A funding to expand last-mile logistics platform in Southeast Asia

Pickupp will use the fresh injection of funds to accelerate its expansion in Taiwan and deepen its presence in existing markets. It also plans to add at least 10 more dispatch points in Singapore within the next 12 months. Besides enabling to cope with growing demand in Singapore, the additional points would also help the startup utilise its walker network more.

A part of the funds raised will also go into building new strategic partnerships to enhance its digital offerings across Shop On Pickupp, a one-stop e-commerce platform offering all-rounded payment and tech-enabled delivery solutions for businesses in 2020.

“The pandemic has triggered a seismic shift in consumer behaviour, it has led to droves of retailers moving their business online and scaling up their digital presence to meet the surging demand. Over the past year, we’ve seen more retailers looking for reliable, flexible, and faster delivery solutions,” said Crystal Pang, Co-founder and CEO of Pickupp. “This round of funding will help us to fuel our expansion in Taiwan and other markets, as well as diversify our product portfolio and offerings based on the needs of each market.”

“Through our tech-driven solutions and services, we will be able to significantly enhance the support we provide to SMEs and help them to meet the growing demand of the digital economy,” Crystal added.

Founded in 2016, Pickupp provides flexible, tech-driven logistics solutions. Through its “highly optimised” batching and chaining technology, customers can book a delivery anytime, while real-time GPS tracking provides end-to-end transparency.

Pickupp claims it provides logistics support to 20,000-plus businesses — spanning MNCs, logistics giants as well as retail and e-commerce — across Hong Kong, Singapore, Malaysia, and Taiwan. It also has a team of over 100,000 delivery agents across all these cities.

Lee Chee Meng, Co-COO at Pickupp Singapore, said: “We have seen a 20 per cent increase in the demand for Pickupp’s express deliveries in Singapore just over the last month. The support we receive from our investors is timely and beneficial as it enables us to grow our satellite dispatch network across the country, minimising the travelling distance for our agents to support faster and more efficient last-mile deliveries for our customers.”

Also Read: ​​Hong Kong startup Pickupp raises funding from Alibaba, Spark Ventures, Axis Capital

To date, Pickupp claims its user base has grown by 250 per cent since the outbreak of the pandemic in March 2020, with over 100,000 delivery agents onboard across all regions. The startup has become a platform of choice, as the last mile for MNCs and the first step for startups and SMEs.

In December 2018, ​​​​​​​Pickupp had bagged an undisclosed sum in pre-Series A, led by Alibaba Hong Kong Entrepreneurs Fund.

In a new forecast by Forrester, online retail sales in the Asia Pacific region will grow from US$1.5 trillion in 2019 to US$2.5 trillion in 2024, with a compound annual growth rate (CAGR) of 11.3 per cent.

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Image Credit: Pickupp

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There is no doubt that economy has never been more volatile. Since the pandemic, the business world as we know it has never been the same. Everything from our business operations to our working environments has been shaken up and the choice was to either toughen up or give up.

While the Singapore economy seems to be getting an optimistic forecast, it is not time for us to slacken our efforts. With the unpredictable nature of the economy, businesses continue to face a daunting question:

How do I ensure my company survives through this uphill battle and continues towards success? That’s an area that we can look to startups and small and medium enterprises (SMEs) for. 

A UOB SME Outlook 2021 Study showed that three in five SMEs who embraced going digital are expecting a growth in revenue and seven in 10 SMEs feel more confident in their business recoveries after adopting digital initiatives.

The startups and SMEs in Singapore have managed to stay afloat regardless of the economic situation and a large portion of this achievement can be attributed to their entrepreneurial mindset and methodologies. 

Here is the lowdown at three practices that encompass the startup mindset.

Taking risks in pursuit of achievement

Often, we hear that success is a journey and not a destination. This couldn’t be more true. By now, it is common knowledge that challenge is not an avoidable part of the journey.

Also Read: How telehealth startup Doctor Anywhere stepped up to the COVID-19 challenge

As more youth are showing interest in entrepreneurship, it is important that we equip these young entrepreneurs with the tools they need to embark on their journeys. A study showed that the success of these young entrepreneurs are being held back by their low appetite to take chances. 

If there’s anything that the past year has taught us, it’s that being risk-averse can be more beneficial than harmful. Hence, it’s important, now more than ever, that we de-stigmatise failure and highlight it’s silver lining.

This is something that we can learn from startups, which are essentially the product of risks-taking decisions. Behind all of their successes are tons of failed attempts and lots of improvements but lots of perseverance.

The products and services that you see them offering are the result of pivoting, which is a very common practice among startups.

It’s about working with a core idea and learning to make the right adjustments to improve your product. As expected, making these adjustments does not come without a risk of a failed product yet again.

Just as challenge is an unavoidable part of the entrepreneurial journey, risks are essential to help improve your ideas and could potentially lead to even bigger successes. Remember, no one ever became successful without taking any chances.

Staying nimble in a volatile environment

The ever-changing nature of the corporate world creates a pressing need to balance traditional mindsets and out-of-the-box thinking in order for our society to move forward. In the past year alone, digital acceleration can be seen everywhere.

In fact, 73 per cent of the organisations in Singapore have initiated digital acceleration in response to the pandemic. This creates a pressing need for us to be adaptable with new advancements in order to facilitate progression.

In a world where stability is largely valued, change can be scary but unfortunately, unavoidable. Thus staying nimble would allow us to be flexible and adaptable in any situation. This quality is important not just in entrepreneurs but also in players in the corporate world.

According to NTUC LearningHub‘s Employer Skills Survey, it was noted that the top three adaptive skills that workers lacked were innovation, analytical reasoning, complex problem-solving, and creativity. 

Additionally, 84 per cent of leaders believe that employee training during this period will help their businesses to develop stronger resilience during this downturn.

Some of their training priorities include improving soft/adaptive skills (65 per cent), improving relevant technical skills in their roles (64 per cent) or beyond their roles (53 per cent). These are just some areas that we can work on in order to promote adaptability.

Also Read: Why every entrepreneur should have a design-centered mindset

It is high time that we learn to be on our toes in such an economy where change can happen at any given time.

Relearn and re skill

With all the advancements in technology and optimisation of operational procedures, concerns regarding the need to upgrade ourselves have been raised. As the economy continues to prove its unpredictability, it is understandable why business players everywhere are pushing for versatile players.

Since the pandemic, 71 per cent of the business leaders and employees surveyed felt the urgency to upskill and reskill in order to remain competitive in the job market.

84 per cent said that it was necessary for employees to pick up new skills due to changes in the businesses.

Additionally, the 2021 LinkedIn Future of Talent report reveals that businesses also need to be ready to support their team members for personal development courses.

Improving and adding new tools to our skill set are an essential part of business growth. Due to this, while the pressure to upgrade on individuals is high, businesses also face the responsibility to encourage and facilitate it.

As being more proficient in multiple areas can result in an overall improved efficiency, self-improvement can almost directly impact the overall business performance.

Be it through government schemes or internal employee training, there’s no reason not to constantly improve ourselves.

Nurturing the entrepreneurial ecosystem

In summary, we have grown too comfortable and accustomed to the structured and conventional nature of our society. Since the volatile economy leaves no room for settling, there is a need for a mindset shift within our community. 

Based on my experiences as a startup leader, I believe that there is a need to provide proper mentorship to aspiring entrepreneurs especially the youths. As a founder just starting to play the field, it is common to find yourself lost and have almost no idea of what to expect of the startup journey.

That’s why at Phay & Partners, I have made it my mission to give back to the startup community through my own boutique agility consultancy where we are driven to create an open-minded community and that starts from the young.

Along with humility and courage, our entrepreneurs – young or old – have the power to make waves in the ecosystem. 

As the economy’s volatile nature continues, it has become increasingly important for us to adapt and advance with it. Afterall, the startup ecosystem is growing rapidly and we trust that we need to shape our mindsets in tandem with these changes.

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