ECONOMY | Staff Reporter, Singapore

Daily Briefing: Sea's Q3 net loss widens to US$218m; Employee matching platform raises $610,000 in seed funding

And influencer marketing firm Gushcloud is buying back 62% of its stake.

From Bloomberg: 

Sea Ltd., operator of Southeast Asia’s biggest gaming platform, reported a wider third-quarter loss on rising investments at e-commerce unit Shopee.

Net loss increased to $218 million in the three months ended Sept. 30 from $132.8 million a year earlier, the company said. Total revenue rose to $204.9 million from $94.1 million.S

Sea has been struggling to keep its footing since going public in October 2017. The Singapore-based company sold stock in its IPO at $15 a share, while its shares closed in U.S. trading at $12.11.

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From Tech in Asia:

Dubbed as the "LinkedIn for blue-collar workers," Sendhelper has raised US$443,169 (S$610,000) in seed-funding round led by Captii Ventures.

Sendjobs will focus on matching employers with job seekers for non-executive positions in industries such as food and beverage, retail, hospitality, events, logistics, and security. In the last five months, around 500 employers have been onboarded to Sendjobs in Singapore.

The startup plans to use the fresh capital to grow its services in Singapore, expand to other markets, and launch Sendjobs, its business to business (B2B) platform.

Read more here.

From DealStreet Asia: 

Singapore-based Gushcloud International, an influencer marketing company, has agreed to buy back 62 per cent of its stake, owned by South Korea’s Yello Digital Marketing Global (YDMG), for $8.2 million, the company said in an announcement.

YDMG invested in Gushcloud back in 2015. Over the past 18 months, it has developed three units under the company – Gushcloud Marketing Group, Gushcloud Talent Agency and Gushcloud Entertainment Group.

Founded in 2011, Gushcloud has got over 12,000 influencers from 12 countries including Singapore, Malaysia, Indonesia, Thailand, Philippines, and South Korea.

Read more here

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