Startup news portal Tech in Asia experiences significant layoffs

Anisa Menur
Startup news portal Tech in Asia experiences significant layoffs

Sources have noted possible link between the layoff and the company’s plan to launch a paywalled version of the Tech In Asia site

This story was updated with further information at Noon on August, 20 2018. 

Southeast Asian tech news portal Tech In Asia has laid off a “great number” of employees in its Singapore and Indonesia team, according to multiple sources.

Additional sources confirmed that it has laid off the IT department of its Indonesia operations.

Furthermore, Senior Writers have left both the Indonesia and Singapore team in recent month, although e27 understands some of them left on their own volition.

A tweet from ex-TiA employee Charlie Custer indicates the company ended its video production team earlier this summer.


One source also noted a possible link between the lay-off and the company’s plan to launch a paywalled version of their news platform.

The paywall was meant to be tied into a blockchain project and an ICO that never got picked up by the market. After traffic dropped the company reversed course but was forced to extend their runway with the layoffs.

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When contacted, Tech In Asia declined to comment on the reports.

A spokesperson from venture capital firm East Ventures, which had invested in Tech In Asia, has also declined to comment on the report.

In November 2017, the company raised a US$6.6 million funding round led by Hanwha Investment & Securities. After the investment, Lim Der Shing broke down the potential positives and negatives of the company in a blog post that provides deep analysis of the company.

The funding round followed a major lay-off in its India operations, leading to the cancellation of their event in the country.

 

Kevin McSpadden and Yon Heong Tung also contributed to this report.

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