{"id":1172,"date":"2021-07-07T00:00:00","date_gmt":"2021-07-07T00:00:00","guid":{"rendered":"https:\/\/markupbackup.wordpress.com\/2021\/07\/21\/durians-daily-289-favful-acquired-by-imedia-in-mission-to-become-top-digital-group-in-malaysia\/"},"modified":"2021-08-02T07:34:18","modified_gmt":"2021-08-02T07:34:18","slug":"durians-daily-289-favful-acquired-by-imedia-in-mission-to-become-top-digital-group-in-malaysia","status":"publish","type":"post","link":"https:\/\/dailymarkup.com\/?p=1172","title":{"rendered":"Daily Markup #289: Favful acquired by iMedia in mission to become top digital group in Malaysia; Escavox is going global in keeping food fresher for longer; iPrice report on cheapest &#038; most expensive cities in Southeast Asia"},"content":{"rendered":"<figure class=\"wp-caption\"><img decoding=\"async\" data-width=\"1260\" data-height=\"716\" src=\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/img_60f7dad7dd149.jpg\"><figcaption class=\"wp-caption-text\">Credit: Marketing Interactive<\/figcaption><\/figure>\n<p><strong>Going for gold<\/strong><\/p>\n<ul>\n<li>500-backed beauty e-commerce platform <a href=\"https:\/\/favful.com\/\" target=\"_blank\" rel=\"noopener\">Favful<\/a> has been <a href=\"https:\/\/www.marketing-interactive.com\/imedia-takes-on-social-commerce-scene-with-favful-acquisition\" target=\"_blank\" rel=\"noopener\">acquired by digital media company iMedia<\/a>. Under the agreement, iMedia will generate lifestyle content and engagement for Favful\u2019s website and social media platforms.<\/li>\n<li>The platform uses both machine learning and community-led preferences to create a stress-free online beauty shopping experience for its users.<\/li>\n<li>Sasha Tan, CEO and founder of the startup, said that joining iMedia in its mission to build the number one integrated digital group in Malaysia \u201cpresents Favful with a solid case to be part of the iMedia family\u201d.<\/li>\n<li>According to Sasha, Favful has grown into a trusted community marketplace, housing over 3,000 beauty and lifestyle influencer members and has an estimated reach of more than 140 million on social media. She added that the combined reach with iMedia\u2019s existing influencer agency will be over 170 million.<\/li>\n<li>Read the full article on Marketing Interactive <a href=\"https:\/\/www.marketing-interactive.com\/imedia-takes-on-social-commerce-scene-with-favful-acquisition\" target=\"_blank\" rel=\"noopener\">here<\/a>.<\/li>\n<\/ul>\n<figure class=\"wp-caption\"><img decoding=\"async\" data-width=\"900\" data-height=\"515\" src=\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/img_60f7dad861268.jpg\"><figcaption class=\"wp-caption-text\">Credit: growAG<\/figcaption><\/figure>\n<p><strong>Delivering good food<\/strong><\/p>\n<ul>\n<li>According to a study commissioned by the Australian government, ~US$500 million of the country\u2019s red meat is <a href=\"https:\/\/www.environment.gov.au\/system\/files\/resources\/c7722d46-db22-4649-9109-b6cd32b84730\/files\/study-of-waste-in-cold-food-chain-and-opportunities-improvement.pdf\" target=\"_blank\" rel=\"noopener\">lost to waste each year<\/a> due to problems in the supply chain. 500-backed agritech startup <a href=\"https:\/\/www.escavox.com\/\" target=\"_blank\" rel=\"noopener\">Escavox<\/a> is here to change that with its <a href=\"https:\/\/www.growag.com\/highlights\/article\/innovative-aussie-supply-chain-monitoring-solution-keeping-fresh-food-better-for-longer\" target=\"_blank\" rel=\"noopener\">\u2018Blue Box tracker\u2019 solution<\/a>.<\/li>\n<li>Described as \u2018CCTV for food\u2019, the tracker is positioned at the point of packing and travels with the food through the supply chain. The Blue Box is always on, capturing data on dwell time, temperature, and location in real-time.<\/li>\n<li>Once deployed, it requires zero human intervention. Even if the tracker is outside range, the data is transmitted once the tracker is back within cell-tower range. Co-founder Darryl Lyons said that the data and analytics provided helps businesses make informed decisions about their products.<\/li>\n<li>A partnership between the startup and Meat &amp; Livestock Australia (MLA) has yielded positive results. Red meat exports to the Middle East have an increased shelf life, and Escavox\u2019s data has proven the suitability of Australia\u2019s products to be exported to the US via sea freight instead of the traditional air freight. All this leads to increased sales volumes, reduced freight costs, fewer rejections, lower insurance premiums, brand protection, and enhanced market access.<\/li>\n<li>So far, Escavox has been focused on Australia. It started with horticulture in 2019, moving into the meat sector in 2020, and early seafood trials in 2021. Now the startup is planning to expand into international export markets like southern Africa and South America. A Series B capital raise is underway to help with their global expansion.<\/li>\n<li>Read the full story on growAG <a href=\"https:\/\/www.growag.com\/highlights\/article\/innovative-aussie-supply-chain-monitoring-solution-keeping-fresh-food-better-for-longer\" target=\"_blank\" rel=\"noopener\">here<\/a>.<\/li>\n<\/ul>\n<figure class=\"wp-caption\"><img decoding=\"async\" data-width=\"700\" data-height=\"368\" src=\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/img_60f7dad8ba31c.jpg\"><figcaption class=\"wp-caption-text\">Credit: iPrice<\/figcaption><\/figure>\n<p><strong>Looking for the right price<\/strong><\/p>\n<ul>\n<li>An <a href=\"https:\/\/ipricegroup.com\/\" target=\"_blank\" rel=\"noopener\">iPrice<\/a> report on the <a href=\"https:\/\/iprice.my\/trends\/insights\/kl-residents-need-about-rm33k-for-monthly-expenses-research-says\/\" target=\"_blank\" rel=\"noopener\">estimated monthly cost of living in six Southeast Asian cities<\/a> revealed that the cost of living for a single person in Kuala Lumpur (KL), Malaysia, is the cheapest in the region at ~US$780.<\/li>\n<li>This is 3x higher than Malaysia\u2019s minimum wage of ~US$290 in major towns. However, KL is ranked second-highest in monthly average net salary of ~US$1,020. The report concluded that the quality of life in KL is relatively better compared to its peer countries.<\/li>\n<li>The highest earners are Singaporeans, who are estimated to earn ~US$2,450 a month, while the cost of living in Singapore is also the highest\u200a\u2014\u200aat least 132% higher than the rest of the region. Bangkok and Manila were ranked second and third most expensive cities to live in.<\/li>\n<li>Read the full report by iPrice <a href=\"https:\/\/iprice.my\/trends\/insights\/kl-residents-need-about-rm33k-for-monthly-expenses-research-says\/\" target=\"_blank\" rel=\"noopener\">here<\/a>.<\/li>\n<\/ul>\n<hr>\n<p><strong>Missed out the last Daily Markup? Go <\/strong><a href=\"https:\/\/dailymarkup.com\/\" target=\"_blank\" rel=\"noopener\"><strong>here<\/strong><\/a><strong> to check it out.<\/strong><\/p>\n<p><strong>You can also find us on <\/strong><a href=\"https:\/\/www.linkedin.com\/company\/500-durians\/\" target=\"_blank\" rel=\"noopener\"><strong>LinkedIn<\/strong><\/a><strong>, <\/strong><a href=\"https:\/\/www.facebook.com\/500durians\/\" target=\"_blank\" rel=\"noopener\"><strong>Facebook<\/strong><\/a><strong>, <\/strong><a href=\"https:\/\/twitter.com\/500Startups_SEA\" target=\"_blank\" rel=\"noopener\"><strong>Twitter<\/strong><\/a><strong>, and <\/strong><a href=\"https:\/\/www.instagram.com\/500durians\/?hl=en\" target=\"_blank\" rel=\"noopener\"><strong>Instagram<\/strong><\/a><strong>.<\/strong><\/p>\n<figure><img decoding=\"async\" data-width=\"400\" data-height=\"400\" src=\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/img_60f7dad904c1c.jpg\"><\/figure>\n<p>500 Startups is a venture capital firm on a mission to discover and back the world\u2019s 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.<\/p>\n<p><em>This post is intended solely for general informational or educational purposes only. 500 Startups Management Company, L.L.C. and its affiliates (collectively \u201c500 Startups\u201d) 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. Information about portfolio companies\u2019 markets, competitors, performance, and fundraising has been provided by those companies\u2019 founders and has not been independently verified. 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 provide any investment advisory service with regard to securities by 500 Startups. No content or information in this post should be construed as 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. One or more 500 Startups fund may have a financial interest in one or more of the companies discussed.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Credit: Marketing Interactive Going for gold 500-backed beauty e-commerce platform Favful has been acquired by digital media company iMedia. Under the agreement, iMedia will generate lifestyle content and engagement for Favful\u2019s website and social media platforms. The platform uses both machine learning and community-led preferences to create a stress-free online beauty shopping experience for its [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":1976,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","footnotes":""},"categories":[322],"tags":[353,463,362],"class_list":["post-1172","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily","tag-escavox","tag-favful","tag-iprice"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Daily Markup #289: Favful acquired by iMedia in mission to become top digital group in Malaysia; Escavox is going global in keeping food fresher for longer; iPrice report on cheapest &amp; most expensive cities in Southeast Asia - Markup<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dailymarkup.com\/?p=1172\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Daily Markup #289: Favful acquired by iMedia in mission to become top digital group in Malaysia; Escavox is going global in keeping food fresher for longer; iPrice report on cheapest &amp; most expensive cities in Southeast Asia - Markup\" \/>\n<meta property=\"og:description\" content=\"Credit: Marketing Interactive Going for gold 500-backed beauty e-commerce platform Favful has been acquired by digital media company iMedia. 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