In today’s briefing:
- Circles.Life: A Fully Virtual Mobile Operator Targeting APAC’s Digital Natives
- Reneging on Job Offers Underscores Sea’s Retrenchment
Circles.Life: A Fully Virtual Mobile Operator Targeting APAC’s Digital Natives
- A fully virtual mobile operator which leases its 4G/5G networks to provide digital mobile services targeting mainly young digital natives.
- Circles.Life is known for offering very flexible plans with highly competitive pricing; it also offers its proprietary tech platform, Circles Global, as a B2B SaaS product.
- It was reported to be in early talks with a SPAC for a potential merger in July this year.
Reneging on Job Offers Underscores Sea’s Retrenchment
- Southeast Asian conglomerate Sea Ltd. has pumped the brakes on its e-commerce unit Shopee’s expansion, resorting to measures such as reneging on jobs offers to Chinese employees at the last minute.
- The strategy shift came as the Singaporean company backed by Chinese tech giant Tencent Holdings Ltd. tries to slash costs to shore up its bottom line amid widening losses.
- The red ink has followed several years of aggressive expansion by Shopee, which has piled pressure on its balance sheet this year, just as challenges raising money abroad mounted.
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