{"id":3331,"date":"2022-07-05T08:06:08","date_gmt":"2022-07-05T00:06:08","guid":{"rendered":"https:\/\/dailymarkup.com\/?p=3331"},"modified":"2022-07-05T11:38:34","modified_gmt":"2022-07-05T03:38:34","slug":"daily-markup-538-vishal-harnal-on-fundraising-value-corrections-involve-asia-hiring-amid-the-great-layoff-eric-cheng-runs-steady-ship-at-carsome","status":"publish","type":"post","link":"https:\/\/dailymarkup.com\/?p=3331","title":{"rendered":"Daily Markup #538: Vishal Harnal on fundraising &amp; value corrections; Involve Asia hiring amid The Great Layoff; Eric Cheng runs steady ship at Carsome"},"content":{"rendered":"<div class=\"wp-block-image\">\n<figure class=\"aligncenter\"><img decoding=\"async\" src=\"https:\/\/lh3.googleusercontent.com\/aeTlWJ_oVPn7NJuUtn4jfvyfqctm7aQpFl24vhVwWHmqqUJUlWvwe2FB3xhij--Sybr7lDSEaCWUGUKc0WD4cK6l4_Y-b9AuHZIS-M-13blj7fyMtk3XAdN3uIw5aSLUsEoHWw6V_esL-nU3KqY\" alt=\"\" \/><figcaption>Credit: The Unreasonable Podcast<\/figcaption><\/figure>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\"><strong>It\u2019s not unicorns &amp; rainbows nor doom &amp; gloom<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>\u201cDoom and gloom messages may often be self-serving; it\u2019s <em>always<\/em> a great time to build,\u201d said Vishal Harnal, Managing Partner, <a href=\"https:\/\/500.co\/\">500 Global<\/a> on <a href=\"https:\/\/open.spotify.com\/episode\/0PTRqkUH8laKWw1m6mWLq9?si=9mQfhXImTnmL_fs6hwVMvQ\">The Unreasonable Podcast<\/a> where he discusses all the burning topics on a founder\u2019s mind these days.&nbsp;&nbsp;<\/li><li>\u201cGreat companies will be formed regardless of the macroenvironment because startups are not a macroeconomic play. They\u2019re actually going against the grain; here\u2019s an opportunity; here\u2019s what I want to build. It\u2019s going to challenge a convention, and if you\u2019re not up for challenging a convention &#8211; whether it\u2019s in the form of a challenging macroeconomic market or a dominant business practice &#8211; you\u2019re not going to build a great company,\u201d he adds.<\/li><li>Vishal believes that successful companies will emerge in Southeast Asia even during this down market because \u201ca lot of money has been raised in Southeast Asia [in 2020 and 2021] to be deployed in Southeast Asia, and VC firms are going to find investment opportunities that are right-priced or under-written properly on their future growth prospects.\u201d<\/li><li>So, what should founders do? \u201cIf you\u2019re thinking of starting a company, don\u2019t let whatever is happening in the macroenvironment weigh you down. Continue to build and grow your company. If you\u2019re the founder of a later stage company, the time to raise is usually extended by 3-4 months so bake that into consideration when you\u2019re going out to fundraise. It will take longer, but it doesn\u2019t mean you can\u2019t,\u201d shares Vishal.<\/li><li>Listen to the full podcast episode on <a href=\"https:\/\/open.spotify.com\/episode\/0PTRqkUH8laKWw1m6mWLq9?si=9mQfhXImTnmL_fs6hwVMvQ\">Spotify<\/a>.&nbsp;<\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh5.googleusercontent.com\/F1y3-bS7r1nnhfovTiH0oVhGSX2q8f4LStXHhnKVabtmC5JO52gc123pIIP_Ql-I5uTrP-_gQm9OrCohXamIACMHHwzm3ID-OnYCjZPV9bL0tYx-BjCYPZ3qO9Wr88SngvUZcuJolhGAhJStcQ\" alt=\"\" \/><figcaption>Credit: Adobo Magazine<\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>The light at the end of the tunnel<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>The Great Layoff may be<a href=\"https:\/\/techwireasia.com\/2022\/07\/the-great-layoff-has-not-dampened-the-demand-for-tech-talent\/\"> shaking the Southeast Asia tech ecosystem<\/a>, but Rene E. Menezes, Co-founder &amp; President of 500-backed martech startup <a href=\"https:\/\/involve.asia\">Involve Asia<\/a>, remains positive.<\/li><li>\u201cTalent in this industry will always be in demand. Everything is becoming more powered or influenced by tech,\u201d Rene commented. \u201cI believe many companies in the industry are looking forward to being able to offer those recently left without jobs, a new role in their companies.\u201d<\/li><li>\u201cData specialists, developers, engineers, marketers, and sales professionals will still find many opportunities in the market,\u201d he said, adding that Involve has about <a href=\"https:\/\/career.involve.asia\/\">50 positions vacant across the region<\/a> that the team is looking to fill by the end of 2022.<\/li><li>He believes with some course correction, the e-commerce industry will be able to withstand market impacts from the Ukraine war and inflation. However, he cautioned that the tech sector needs to be more careful and strategic about corporate spending and expansion.<\/li><li>Read the full interview on <a href=\"https:\/\/techwireasia.com\/2022\/07\/the-great-layoff-has-not-dampened-the-demand-for-tech-talent\/\">Tech Wire Asia<\/a>.<\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh3.googleusercontent.com\/YQ6f9MS3baBcgG7zCNRaBkixZGgbmduojwRBVH7HmzOCcDQFEHqO9VkkYbjfZyWtw6uNxhqYMf2S6Nsnyt0b1mX1gpCalaWIvuwJLKHx2fyK2twq613zrCNJ-UjVgIUqO4W35FsZLzKPgff3Cw\" alt=\"\" \/><figcaption>Credit: Tatler<\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Steady at the wheel<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>\u201cSince day one, <a href=\"https:\/\/www.carsome.my\/\">Carsome<\/a>\u2019s mission has been laser focused, as we take on a customer-first approach in all that we do in order to gain users\u2019 confidence,\u201d explained Co-founder &amp; Group CEO Eric Cheng of the 500-backed company on <a href=\"https:\/\/www.tatlerasia.com\/power-purpose\/business\/carsomes-eric-cheng-on-past-present-and-future\">how the business has been doing well<\/a>. \u201cAfter all, it is important to build trust, especially in a business that\u2019s predominantly dealing with used cars.\u201d<\/li><li>Launched in 2015 in Malaysia with just a seed funding of US$350,000, today, Carsome has 9,500 dealers on its platform throughout Malaysia, Thailand, Singapore, and Indonesia, over 100 Carsome centers in 50 cities, and a whopping 4 million bids made for cars across Southeast Asia.<\/li><li>The company also runs Carsome Academy, an automotive technical institute that helps produce high-skilled and industry-ready workers through technical education and practical training. It also guarantees students a job upon completion of the year-long course.<\/li><li>\u201cWe are just at the beginning of digitally disrupting the used car market, and we aim to continue and uplift the entire customer experience for users in their journey towards car ownership by developing new products such as financing, insurance, and more, to provide deserved peace of mind to all our customers,\u201d Eric said.<\/li><li>Read the full interview on <a href=\"https:\/\/www.tatlerasia.com\/power-purpose\/business\/carsomes-eric-cheng-on-past-present-and-future\">Tatler<\/a>.<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>It\u2019s not unicorns &amp; rainbows nor doom &amp; gloom \u201cDoom and gloom messages may often be self-serving; it\u2019s always a great time to build,\u201d said Vishal Harnal, Managing Partner, 500 Global on The Unreasonable Podcast where he discusses all the burning topics on a founder\u2019s mind these days.&nbsp;&nbsp; \u201cGreat companies will be formed regardless of [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":3332,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","footnotes":""},"categories":[322],"tags":[467,341,517],"class_list":["post-3331","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily","tag-500-southeast-asia","tag-carsome","tag-involve-asia"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Daily Markup #538: Vishal Harnal on fundraising &amp; 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