The Impulso Podcast

E67: Dmitry Levit & Boon Ping Chua on the distress in Southeast Asia, and why it’s not evenly distributed

After almost a decade, is winter finally here in Southeast Asia?
 
Join us in our latest podcast episode featuring special guests Dimitry Levit and Boon Ping Chua (aka BP), partners from Cento Ventures, each with over a decade of experience in venture capital, particularly in Southeast Asia.
 
Cento Ventures recently unveiled their Southeast Asia tech investment 2023 H1 report, and we have invited Dmitry and Bp to share further insights into their perspectives on investment in the region.
 
Tune in as we ask the experts: 
Is tech & VC in Southeast Asia game over?
Why do we even bother with Southeast Asia anyway? Why is it still exciting?
How do they see VCs in the region deploying money in 2024?
Featured materials:  
Southeast Asia Tech Investment – 1H 2023, Cento Ventures
2023年上半年东南亚风险投资报告, Momentum Works 
Our investment in Doxa: Unlocking new growth within the supply chain finance, Cento ventures
 

E66: TikTok has no good options

Yesterday, the US House of Representatives overwhelmingly passed a Bill dubbed the “Protecting Americans From Foreign Adversary Controlled Applications Act,” that would give ByteDance about six months to divest the US assets of TikTok or face a ban.
 
What does this mean for TikTok?
 
Join us on the latest episode of the Impulso Podcast as we delve into: 
The likelihood of the ban; 
TikTok's options - there seem to be no good options
Donald Trump's opposition to the ban - will he really stand against it?;
Will other countries follow suit?
 
Featured materials: 
[Event Deck] Indonesia after the TikTok Shop ban, Momentum Works 
E44: The winners and losers of the TikTok-GoTo deal, The Impulso Podcast 

E65: Will health labels reduce bubble tea consumption?

Is Shanghai mirroring Singapore's nutritional labelling approach? 
 
Recently, Bawang Tea Ji's (Chagee) Shanghai store has introduced a "Nutritional Choice" logo on all its beverages - a first for freshly-made drinks in China. This mirrors Singapore's Nutri-Grade ratings (A to D), implemented by the Health Promotion Board, from December 2022, which were introduced to increase consumers' awareness, and help them make healthier choices. 
 
But do these labels actually change consumer habits? And are they a hindrance to the bubble tea business, or do they push for product innovation?
 
Tune into our latest episode for a light-hearted discussion on the impact of these nutri-grades on consumer habits and business operations. 
Featured materials
Who is Mixue?, Momentum Works 
Bubble tea in Southeast Asia, Momentum Works  

E64: Does Shopee have a moat?

Last night, Sea group published their 2023 Q4 and FY results, announcing its first profitable year. The market had mixed feelings - stock price fluctuated the first trading day post-results, and eventually closed with a 5% increase in share prices. 
 
During the earnings call, Sea executives reiterated the group's dedication to deepening its moat in the region to maintain its position as a market leader in the region. But what exactly is its moat?
 
Join us in this latest episode as we delve into Sea Group's latest financial results, investor reactions, and explore the rationale behind Shopee's confidence in its guidance of a high teens growth rate, even in the ever-changing ecommerce landscape in the region.

E63: How does Luckin Coffee open 1000 new stores every month?!

In Luckin Coffee’s latest 2023 Q4 report, the company revealed that it opened 2,975 stores in Q4 - almost 1,000 stores every month. 
 
The report also unveiled that Luckin has overtaken Starbucks in terms of sales in China. But is Starbucks genuinely their primary competitor in China? If not, who holds the title of Luckin's main competitor in China?
 
In this episode, we are joined by our in-house coffee expert, Weihan. Together, we dive into:
The rationale and methodologies driving the rapid expansions of both Luckin and Cotti;
Luckin’s success in digitalisation and data collection, as well as the feasibility of other brands replicating such a model;
Some key considerations for coffee (or F&B) brands as they expand out of China into Southeast Asia. 
Featured materials:
Coffee in Southeast Asia, Momentum Works
Sip, Innovate, Repeat: Immersive Workshop, Momentum Academy
We did a poll with 1,300 community members on Luckin’s performance in Singapore, TheLowDown
Luckin’s latest Singapore outlet mirrors its China stores, TheLowDown
“Disgraced” Luckin founder started a new coffee chain in China, TheLowDown
 

E62: What is the “right price” of Foodpanda for Grab?

Grab recently published their 2023 Q4 and FY results, and during its earnings call, COO Alex Hungate confirmed that Grab is not pursuing acquiring FoodPanda. This aligns with Delivery Hero, FoodPanda’s parent, announcement earlier last week that acquisition talks for Foodpanda in Southeast Asia had collapsed.
 
Why did Grab give up on the potential acquisition of FoodPanda? Was the €1 billion price tag for FoodPanda (that German media quoted) not the "right price" for Grab?
 
Tune into this latest episode where we dive into the considerations behind Grab’s decision, examine the complexities of mergers and acquisitions, and discuss what’s next for Foodpanda in the region. 
 
Featured materials:
Grab is buying back shares, but not Foodpanda?
Our thoughts on Grab’s 2023 Q4 and Full Year results
Food delivery platforms in Southeast Asia 2024

E61: What drives live commerce in China to be a trillion dollar business?

China's live commerce industry is not just big—it's a trillion-dollar powerhouse with a vast ecosystem, encompassing MCNs, enablers, logistics, and more. 
 
With only a month away from Momentum Works upcoming live commerce immersion in Shenzhen, China (where participants will have will visit/meet key players in this ecosystem), we wanted to address some common questions we’ve received from interested participants, as well as share insights into the ecosystem and trends of live commerce in China. 
 
Tune into this latest episode where we uncover the driving forces behind China's live commerce boom, explore its potential in the US and Southeast Asia, and contemplate the future and influence of AI in this space. 
 
Featured materials:
Live Commerce Immersion, Momentum Academy
Live commerce in Southeast Asia report, Momentum Works
How did this company reach $280m sales in Live commerce?, The Low Down 
Why are AI virtual hosts not yet dominant in live commerce?, The Low Down

E60: Omar Kassim on Middle East venture & investment ecosystem trends

Omar Kassim joins us in the latest episode of the Impulso podcast in a candid discussion about the current dynamics of the venture and investment ecosystem in the Middle East. 
 
With over a decade of experiences in venture and investment in the region, Omar has many insights into the appealing yet mysterious market and ecosystem of the Middle East. 
 
Join us as we dive into:
How the two major economies, UAE and Saudi Arabia differentiate in their strategy and compete with each other
The Middle East’s investment and venture capital landscapes
The unique challenges faced by both local and global companies operating in the region
The region's potential for growth and development
 

E59:Will DoorDash enter Southeast Asia, and other questions on food delivery answered!

Last Wednesday (31 Jan), Momentum Works held our online briefing “In focus: Food delivery platforms in Southeast Asia 2024” where we covered global developments, key events, and trends within the food delivery landscape in this region. 
 
During the event, there were also many questions asked, and we've addressed them in this episode. Here are some highlights: 
Will we see Deliveroo or Doordash enter SEA?
With the rise in platforms take rate, can we expect a resurgence in dining out?
Why is the Philippines considered a special case?
 
Featured materials: 
In focus: food delivery platforms in Southeast Asia, Momentum Works
E57 - The Impulso Podcast: [In focus] Food delivery in Southeast Asia 2024, Momentum Works
Food delivery platforms in Southeast Asia 2024, Momentum Works

E58: Why Meituan CEO takes over overseas businesses?

Meituan has had a very challenging 2023, with its falling share price and intense competition from both Douyin and Pinduoduo. 
 
Last Friday (2 Feb), Meituan founder and CEO, Wang Xing, announced in an internal email an organisational restructuring that will integrate a number of businesses related to core local commerce and further raise the priority of technology and internationalisation-related businesses. 
 
Notably, as part of the restructuring, CEO Wang Xing announced that he will directly oversee overseas operations and drone delivery. 
 
Tune in to the latest episode of the Impulso Podcast, as we explore the strategic changes made by Meituan and its implications, as well as draw comparisons with Alibaba's own restructuring efforts. 
 
Featured materials: 
Meituan CEO Takes Over Overseas Business as China Sales Wane, Bloomberg
Food delivery platforms in Southeast Asia 2024, Momentum Works
Transforming Alibaba, Momentum Works
Why does Alibaba replace Taobao CEO?, the Impulso Podcast
Seeing the Unseen: Behind Chinese Tech Giants' Global Venturing, Guoli Chen and Jianggan Li