Now, is this a new normal you’re comfortable with?

Covid-19 almost crushed this startup

• When 500-backed fintech startup Split first started, the mission was to offer consumers the ability to book trips and help them pay in installments. However, with tourism now going through a slum, things were certainly looking less than optimistic.

• Dylan Tan and his team had to think fast and adapt quickly if they were to keep Split around. Quick-thinking led the engineering team to rebuild Split’s interface so it could be suited to partner with non-travel services, specifically with e-commerce and retail outlets across electronics, fashion, accessories and lifestyle brands.
• The reception has been overwhelmingly positive as the Split team copes with the sudden influx of new merchants from Malaysia and Singapore. In fact, Split is now contributing up to a third of its merchant sales.
• “… we have big and small partners that demand equal attention to get on-boarded, so we’re learning to spread our efforts and time a bit better,” Dylan says in an interview.
• The integration of Split on these e-commerce platforms has also enabled greater spending power as some consumers have said that they wouldn’t have been able to purchase the products had the solution not been available.
• Things are certainly looking up for Split. For more information, visit their official website here.

Keeping kids occupied

• Parenting in the age of a global pandemic is very challenging. Lines between work and family are blurred. How does one juggle between tutoring a child and attending a Zoom call — at the same time? Almost impossible.
• Thankfully, technology is an ally in times of such need. In a list, Vogue curated a bunch of useful apps for parents putting on different hats.

• Among the platforms listed is 500-backed Lingokids. Used by 7 million families worldwide, Lingokids is an adaptive language learning platform and online classes to teach English to children from 2–8 years of age and is designed with Oxford University Press content.
• The classes are well-rounded, engaging children with creative and educational tasks and activities. Here’s a thorough guide for stay-at-home parents.

Friday Thoughts: Would you want to work from home forever?

• Not for a few months. Not until Covid-19 is over. But forever. Indefinitely.
• That’s exactly what Twitter is allowing. Early this week, CEO Jack Dorsey sent a company-wide email to staff members, permitting them to work from home forever if needed.

• For many people, working from home feels exciting because they’ve never done it at great length before the pandemic. It feels liberating. Productivity skyrockets while expenses decrease since you can now skip the nightmarish 30-minute early morning commute.

• But WFH for long periods of time may come with caveats of its own. You know the common ones: Forgetting to clock out which increases the risk of overworking and juggling multiple responsibilities at home.
• What do you think? Can you see yourself working from home forever? If not forever, maybe for a year or two? Or you just can’t stand it any longer and dying to be in the office again?

Stay tuned to the next Daily Markup on Monday! Stay safe, stay healthy, and have a great weekend!

Missed out on the last Durian Daily? Go here for a full recap.

You can also find us on LinkedIn, Facebook, Twitter, and Instagram.

500 Startups is a venture capital firm on a mission to discover and back the world’s most talented entrepreneurs, help them create successful companies at scale, and build thriving global ecosystems. In Southeast Asia, 500 Startups invests through the pioneering 500 Southeast Asia family of funds. The 500 Southeast Asia funds have backed over 240 companies across multiple sectors from internet to consumer to deep technology. It continues to connect founders with capital, expertise and powerful regional and global networks to help them succeed.

This post is intended solely for general informational or educational purposes only. 500 Startups Management Company, L.L.C. and its affiliates (collectively “500 Startups”) makes no representation as to the accuracy or information in this post and while reasonable steps have been taken to ensure that the information herein is accurate and up-to-date, no liability can be accepted for any error or omissions. All third party links in this post have not been independently verified by 500 Startups and the inclusion of such links should not be interpreted as an endorsement or confirmation of the content within. Under no circumstances should any content in this post be construed as investment, legal, tax or accounting advice by 500 Startups, or an offer to sell or solicitation of interest to purchase any securities advised by 500 Startups. Prospective investors considering an investment into any 500 Startups fund should not consider or construe this content as fund marketing material. The views expressed herein are as at the date of this post and are subject to change without notice. A 500 Startups fund may have a financial interest in one or more of the companies discussed.