💳 🇲🇾 This E-Sport Company Chose Malaysia to Open its Largest Global Office. What??! 😲

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Here's what we got for you:

• 🌊 At SEA - This E-Sport payment company, Xsolla is expanding into Malaysia

• ⛵ SEAppets - Shopee is SEA's no.1 liveselling platform

• 🇲🇾 Malaysia 

• 🖼️ AI Image of the day

• 👾 Meme of the day

Markets 📈

Ok they aren't exactly from Southeast Asia but when a white guy chose Southeast Asia, especially Malaysia to open their largest global office, you gotta admit, it's a story worth sharing.

The Asia-10 PC and mobile gaming market has been estimated to generate USD $35.9 billion in 2022 and is expected to be a USD $41.4 billion industry by 2026. And companies like Xsolla are eyeing a piece of that gigantic pie.

Asia-10 markets include: Chinese Taipei, Indonesia, Malaysia, India, Singapore, Thailand, Japan, Vietnam, Philippines and Korea

To expand its services, Xsolla has opened its largest office in Kuala Lumpur, Malaysia.

🤷‍♂️ Who is Xsolla?

• On their website, it says they're an "international video game commerce company with a robust and powerful set of tools and services designed specifically for the gaming industry"

• In short, they're the Stripe of gaming

• They help companies with subscriptions, web shops, NFTs etc.

💲The million-ringgit question: Why choose Malaysia?

• According to their President, Hewish, Xsolla chose Malaysia due to our rapidly growing gaming market and strong gaming ecosystem (although Indonesia and Thailand had higher growth rates)

• Malaysia is also the third largest market in Asia and also boasts a talented workforce (if they don't all end up in Sg🙃)

• Furthermore, Xsolla like how MDEC and our government are taking initiative to grow the industry

• I think that's white people slang for "we can work and we're cheap"

SEAppets ⛵

• Ninja Van conducted a survey and found out that out of more than 1,000 merchants, about 27% use Shopee while 25.5% use Facebook and 22.5% chose TikTok. 1 in 3 are livesellers, spending 6 hours every week liveselling.

• 5X Capital, a Malaysian PE firm has acquired a stake in Colony coworking space. Founded by serial entrepreneur, Timothy Tiah, Colony currently has 12 locations in Kuala Lumpur. Their revenue grew 74% in 2022 and profit grew by 265% yoy

• Singapore's logistics firm, Locad raises USD $ 11 million in Series A funding led by Reefknot Investments. Locad is trying to be the region's largest network of warehouses over the next five years

• Mindtera, an employee assistance programme startup in Jakarta has closed USD $850,000 of seed funding led by East Ventures. The startup now serves more than 10,000 employees in Indonesia.

Malaysia 🇲🇾

1.

I pray for everyone driving home this weekend (including myself 🥲)

2. The first phase of government cash aid begins today. The RM1.67 billion Sumbangan Tunai Rahman programme will help B40 groups to cope with the rising cost of living.

3. Dewan Rakyat speaker Datuk Johari Abdul vows to strengthen decorum and etiquette in Parliament. He told the Star he will not tolerate sexist remarks and the use of unparliamentary words.

AI images of the day 🖼️

Isometric mamak stall

Meme of the day 👾

I'm more than just a beautiful piece of meat

That's a wrap for today. See you all tomorrow! 👋