Friday, 5 October 2012

More team get funding

I accidentally turn to NTV7 last night and discover that more team among Rock star get funding on Malaysia TV reality show "Make The pitch".

First, Chew Kai Feng of Cloudstat get RM500,000 funding for 35% equity on Malaysia TV reality show "Make The pitch".

It seem MyEg requested 35% of equity regardless of how much funding you request. While Chew seem to get the lowest funding among the participant. However, he get RM100,000 more than his request. And it seem he is the youngest and the only fresh graduate among participant.

Another team Fashion Valet, who have a chance to meet Youtube co-founder Jawed Karim last year get RM1million for 30% equity after some counter offer. both team above.

Melvin of FanXT initially accepted RM1million for 30% equity. However, Melvin change his mind after that and decline the offer.

It seem maximum MyEG offer is RM1million and minimum equity they want is 30%. Thus, do not participate next season if you aim more than RM1million or you willing to give up less than 29% equity only for less than RM1million.

Good luck Melvin

Tuesday, 28 August 2012

Soft launch of our eBay store in Australia

Please be informed that we just soft launch our new ebay's store in Australia

We urge our customer in Australia, Australasia. Oceanias and Asia area to order from our new ebay store in Australia, to help our new store to achieved Powerseller Status and Top Rated Seller status. We will slowly transfer our product in AUD from our existing eBay store to our eBay store in Australia.

We hope customer in other country continue to support our existing eBay store to help us to maintain our Top Rated Seller Status in UK and Power Seller Status.

Our present store has been move to ebay UK to take advantage of store discount provided by eBay to store in UK and Australia respectively

This is in line with our company mission to set up a chain of online hypermarket. The separation also ensure that negative feedback from buyer of one country would not affect our Top Rated Seller status in other country.

We will started doing same thing with our online store with after this exercise with eBay. Then will move to Bonanza and Addoway.

Wednesday, 16 May 2012

New page owner and admin of our facebook fan page

I have attended Silicon Valley Come to Malaysia Conference last year (2011). Linkedin's co-founder Konstantin Guericke was keynote speaker at the event. Konstantin Guericke created a Linkedin group Silicon Valley come to Malaysia, which is a sub-goup of Startup Malaysia, to continue communicate with Malaysian participant of the conference.

Being an alumni of Stanford University and guess lecture of Stanford University.  Konstantin Guericke recommended an online course offer by Stanford University, Technology Entrepreneurship E145 to startup entrepreneur in Malaysia. The course have approximately 30,000 online student worldwide to date.

I enroll in the course to learn more about enterpreneurship. The course operates according to the flipped class, where team-based, experiential education (learning by doing) is central and video lectures and readings are there for support.

Iván Doel are my course mate at Technology Entrepreneurship of Stanford University. Ivan Doeal has assigned to my team and we have worked on two assignment together and we are in our third assignment now.

I have made Ivan page owner and admin of our facebook fan page . Ivan might post some survey to study preference of our customer for our course assignment. Please participate in the survey to help us to understand our customer better.

The online course also recommended us to participate in Start up compass . To evaluate our company, whether our company in premature scaling or determine how we reach Product/Market fit to scale.

In order to reach Product/Market fit. The company must have a killer product. This mean we must have a product customer will feel upset if we no longer in business. That customer cannot live without it. Please help our company find our killer product.

Alternatively, we also want to know whether we able to reach Product/Market fir if we become online hypermarket. Where we sell everything under the sun. Please tell us whether you will feel disappointed if an online hypermarket close down it business and you unable to buy product from us again.

In order not to violated ebay privacy policy, which I cannot shares customer email address with Ivan. I will also email the survey  to our previous customer to survey. Please participate in the survey to help us to understand more of our customer

Update : Result of survey

Below are excerpt from 南洋商报 

190国16万人报读 网上免费史丹福课程







Wednesday, 21 March 2012

Why Alvin Woon not invest in Malaysia

Co-founder of Alvin Woon said has consider to invest in Malaysia to expand 3 years ago. However, due to lack of talent and incentive from government, he has give up Malaysia and invest in Taiwan eventually.

Great potential in internet Startup

He said, in fact, there is great potential for Start up in Malaysia. Standard of product launch here are on bar with product in US. Unfortnately, investment environment here not condusive to nurture such industry.

Whether government would give tax incentive and availability of talent, are important consideration on whether or not to set up a base here. As there is no such advantage at that point. We have to give up Malaysia.

Alvin Woon is responding to a question on whether would set up a branch here after a conference on Entrepreneurship at University Tunku Abdul Rahman.

He said frankly that , as a Malaysian, he would like to set up a base in Malaysia so that he able to "go home" very often. But he has to face reality eventualy : " I can't told other co-founder, I am a Malaysian, so we have to choose Malaysia (to set up company) " (Translator note: Alvin Woon split shares equally among 3 co-founder before Angel investor come in)

Alvin still observing government effort in attracting investment and talent

As to Malaysia current transformation in attracting foreign investment and talent. Alvin said he will observed.

In restrospect, 90% of internet startup are by Chinese. But they rarely get funding from government.

"In fact, we can't expect to attract overseas talent to come back just by slogan. Some has come back, but unable to find neccessary manpower talent to complete the task, mission required. You have to fill up a lot of form if need funding and been through a lot of challenge.......

"Some people do come back 10 years ago, Maybe they find it difficult to stay ( in Malaysia ), have to leave and never come back again. I don't want my first experience back to Malaysia to be like this. I never give up Malaysia from the beginning until now, hope able to lend a hand to Malaysia, especially in internet startup."

He know deeply government effort in attracting overseas talent. and understand someone must make the first move " I just hope this is not a difficult first step"

Youth must venture into business earlier

Alvin Woon advised young people to venture into business earlier as youth has advantage. Not afraid to fail and can fail early. If not, you will lack time and energy when you grow older and just regret.

He has few wisdom on  his journey in entrepreneurship startup. first is "Don't care about copy or compare, don't waste your time in care about what other people doing. What you did on yourself is more important.

In order to venture Alvin Woon when to Toronto from US alone to set up a base. Just give up his existing job and girl friend. It is tough initially, but base on determination, he able to venture his own success. launch on November 2007, have more than 20 language version and expand quickly in Asia country like Taiwan, Malaysia, Philippines and Singapore. It has 6 million to 7 million member now. with 50% of it member in Taiwan.

Venture Capital important in internet Startup
Alvin Woon said he has to understand internet business in Malaysia market first before deciding to contribute in which area.

On how to incubate & nurture internet startup. He said funding is important. Many Malaysia have programming capability, but they unable to move next step, if lack working capital. You need money in marketing and networking. It is difficult to consider your next move if lack capital.

He stress, startup capital requirment are lower in Malaysia compare to US, plus you get higher return on capital. Many people don't understand internet startup, They don't invest even they have capital. They rather invest in property or gold. This required change in mindset.

Excerpt and translated from Nanyang dated 16 March 2012


云惟彬揭噗浪弃马投台原因 “网络市场缺奖掖人才”

政府吸资及挽留人才 云惟彬持观望态度
年轻人创业要趁早 “做好自己最重要”

第三届中小企业大会•云惟彬:强硬推销引反感 网上软销更有效


Monday, 5 March 2012

Kickstarter Vs Crowdcube

Crowd funding getting popular. 

The advantage of crowd funding over Angel and Venture Capital (VC) is no investor via Crowd funding will demand a seat on board of your company. Leaving entrepreneur more freedom to manage their company compare to getting funds from Angel and VC.

Kickstarter in US was restricted by US Regulation D and entrepreneur cannot give shares in return of investment.

Crowdcube in UK not restricted by Regulation D and company in UK have ability to offer for shares in return.

This make Kickstarter in a very disadvantage position over Crowdcube.

Not anymore. US government is planning to amend it law to provide exemption on Regulation D. This put Kickstarter in same level playing field with Crowdcube.

Given a choice, which one do you choose? Kickstarter or Crowdcube?

Comparatively, listing in Nasdaq is much more difficult compare to Alternative Investment Market (AIM). Thus, funding via Crowdcube is much more attractive as it can later listed the company via AIM as exit strategy. Company also can follow Velti footstep by transfer from AIM to Nasdaq later. It is much more difficult to follow Kickstarter direct to Nasdaq.

Alternatively, company can separately raise fund for operation in US via Kickstarter and operation in UK via Crowdcube respectively. But it is a bit difficult to plan for exit strategy in such scenario unless both can scale to very large company respectively.

Update : Startups are now able to get crowdfunding from US investors : Senate passes crowdfunding bill, wisely adds protections for less sophisticated investors

Sunday, 19 February 2012

New blog on

Please be informed that we have set up a new blog on . We still analysing whether we able to used Google
Adsense with or not before we fully move our blog to .

Customer who operate a blog with can start to link to us so that we able to re post your post like retweet on tweeter to benefit our other customer so that the whole community able to link up.