Ecosystem Roundup: J&T Express may raise US$1B in HK IPO; Terraform boss charged in US; Alibaba’s growth to accelerate from 2023

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GGV Capital files to raise US$2.5B for 4 new venture funds
The new funds will likely to continue to focus on China, the US, and SEA; GGV was founded nearly two decades ago in Singapore and the US to provide multi-stage investment to businesses around the globe.

J&T Express may bag at least US$1B in latest listing attempt
This would be the Indonesia-headquartered logistics firm’s second stab at an IPO in Hong Kong, as its planned offering in 2022 was delayed due to financial market volatility.

Sinar Mas Land’s CVC on the prowl for more early-stage deals
Living Lab Ventures Partner Bayu Seto said the firm was set up to invest in and incubate in seed to pre-Series A startups that support Sinar Mas’s ecosystem.

Sociolla CEO John Marco Rasjid to step down
Co-founder and President Christopher Madiam will be taking over as CEO of the Indonesia-based beauty e-commerce firm; Currently, Sociolla has 50 physical stores across 30 cities in the country.

Alibaba’s growth to accelerate from 2023, analysts predict
Wright’s Research, an equity research firm that contributes to Seeking Alpha, expects Alibaba to see a dip in revenue of 4.2% in 2023 due to headwinds, but growth could be in the double digits through the next 10 years.

YGT venture arm invests in Zeabuz for maritime autonomous solutions
The investments include an advanced hydrofoil system for electric vessels, e-bike and swappable batteries, autonomous and robotic tech, autonomous systems for EVs, marine energy storage solutions and EV charging solutions.

Bintang Capital fund backs Malaysia influencer-marketing firm
Involve Asia is a platform that connects businesses with content creators, influencers, developers, and affiliate partners across SEA; It aims to allow everyone to make money via digital marketing opportunities.

Philippine healthtech firm Mediclick secures pre-Series A
The lead investor is Funding details; Mediclick is an e-pharmacy that provides monthly medication packages and telehealth services.

Twitter reportedly shuts two offices in India
It now has only one office in Bangalore; This comes after the Elon Musk-led company laid off around 90% of its over 200 employees in the country in late 2022, right after he took over Twitter in a US$44B deal.

Terraform Labs boss charged with fraud in the US
Do Kwon was the primary developer of TerraUSD and its sister coin Luna, which crashed in value last year and caused turbulence in crypto markets worldwide.

New YouTube CEO is bullish on Web3 tech like NFTs and the metaverse
In terms of the metaverse, Mohan stated the technology’s use is “still in its early days” but said YouTube will “work to bring more interactions to games and make them feel more alive.”

How Netverse sets itself apart as a sharia-compliant metaverse
The IBF Net Group’s involvement in Web3 includes the IBFX token and a number of blockchain projects, including Netverse.

‘Not all is doom and gloom’: Experts on the potential of AI to steal jobs in SEA
AI isn’t a job destroyer; people need to be more accepting of digital and intelligent technologies and optimise them to perform better in their roles.

How Hungry Hub survived pandemic to become a leading player in special occasion dining
Hungry Hub lets diners know how much they will pay and what they will get before walking into the restaurant; It claims to have seated over 2M diners and sourced over US$50M to its restaurant partners.

What makes a great customer experience?
Unpredictable markets, hybrid lifestyles, and social responsibility are why customers are rapidly changing.

What businesses should take note of before taking the M&A leap
Prior to entering into M&A negotiations, it is critical that you are clear on your objectives and the key terms of the deal.

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