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Come Join Us For Drinks In Singapore On Sept 19; The Potential Of Social Commerce; Get Your DPO To Subscribe To DPOInsider
It’s going to be a short newsletter edition as FPC is on manoeuvres this week, as we get ready for a big September and October. On with this week’s news…
FirstPartyCapital Hosting Singapore Networking Drinks On September 19
FirstPartyCapital will be hosting its first APAC networking event in Singapore on September 19.
We are looking forward to seeing our LPs, syndicate investors and portfolio companies at our evening event in a few weeks time.
It’s a chance to discuss all that is great about MadTech while supping some beverages in one of Singapore’s fine rooftop bars.
Why would I want to go? What you should be asking really is: why wouldn’t I want to go? This is an opportunity for FPC to meet our Southeast Asian network face-to-face to talk money and trends. We encourage new companies and investors to come along.
Where and when? The event will take place between 17.30 and 21.30 on September 19. We will be hosting it at the Kinki Restaurant + Bar.
Sounds great. How do I attend? You need to sign up to attend. The eventbrite sign-up page is listed below.
Ciarán O’Kane and Rich Ashton will be in Singapore for a full week from Sept 19 to Sept 23. Get booking those meetings:
Social Commerce Hitting $3 Trillion Dollars By 2028
It’s estimated that social commerce will $3 trillion dollars by 2028. The “social commerce” term could be seen as reductive given it is an evolution of advertorial content powered by recommendations from friends and influencers.
The social platforms have been very slow at growing this market. It seems insane that Meta hasn’t built a huge e-commerce business around this. Too busy copying rubbish features from mid-tier social challengers.
Despite all this, the social platforms are primed to capture a chunk of this upside in spend. But it won’t all go to them. We think the open web will benefit also.
We are seeing a bunch of new startups building solutions beyond the TikToks and Metas. Where do we see the hot areas?
Here are just two areas to keep an eye on from the FPC lens:
Livestreaming e-commerce: The Chinese took the QVC model, perfected it, and repurposed it for mobile commerce. The amount of goods sold via livestreaming is estimated to hit over $700 billion in 2023. This is how the Chinese consumer is buying goods and services. Adoption is starting to accelerate in South-East Asia - and it will global phenomenon in the coming 12-24 months. There will be big opportunities beyond the platforms. It won’t be the Amazon/TikTok/Meta “product” show. Analytics and infrastructure will be the sweet spot for tech startups. Stay tuned for some news on this.
Conversational media: We have made a bet in the conversational media space with Cavai. We see a whole eco-system being built around linking AI-powered display to digital payments/checkout. We are only in the early stages of development in this segment, and we think Cavai is well placed to be the market leader.
Do Your DPO & Compliance Professional Friends A Favour, Get Them To Sign Up To DPOInsider
Our portfolio company, Wult, is building real-time data compliance automation. The solution is aimed at DPOs (data protection officers) and other professionals managing compliance and data protection internally.
The company has built enterprise privacy workflow software for overstretched compliance professionals. Essentially, it is the ultimate solution for any organisation working with data in digital publishing and marketing.
It is now out of beta and has already a number of clients.
Wult publishes an excellent weekly newsletter, DPOInsider, aimed at DPOs and compliance professionals. So if you do know a DPO or compliance colleague, get them to sign up today. The link is below:
Have a great weekend, readers.