We all know about stamp cards. They come in different sizes, colours and some, shapes. Spend a certain amount of money, collect loyalty stamps and when the time is right, you get to redeem a free smoothie or sundae or sushi. Around! is a Singaporean app who has integrated our favorite stamp cards online, in an iOs app, so that we don’t have to keep all of them in our wallets.
This week, LaunchByte has the privilege to talk to Daxiang and Shu Yang from Around! about raising funds for a start-up.
According to Shu Yang, they received funding from the National University of Singapore (NUS) to help them make the most out of the limited time that they had.
He also shared with us his experience (or the lack thereof) on the negotiating table when they first started out. He said that there was a plan to fly to Malaysia to meet a few developers. In good faith, they even booked the air tickets but because they couldn’t agree on the percentage of equity, the deal fell apart. It just didn’t sound like a fair deal to them.
Daxiang advised, “I guess, do not be afraid to walk away from the negotiation table.”
He also added that, in hindsight, it is good to offer a free trials to clients and customers to increase credibility. He also talked about scalability and how mobile loyalty cards is something the market is still gearing up for.
Listen to LAUNCHBYTE Ep 03: around | raising funds!
Welcome to LaunchByte where we give you an inside look at Start ups in Singapore. Every week we will be interviewing some one from the Start up community and getting their take on what life in a start up is like and how should we go about getting our own Start ups going.
In this episode we get to speak to the minds behind @theCarousell, the guys who are dedicated to “making secondhand buying and selling simple, inspiring and serendipitous for everyone.”
Sorry about the audio levels! I’m still trying to figure out the system for recording, it’ll be better soon! Also for the lateness of this podcast, there was a bunch of projects that needed doing this past week and coupled with my hard disk dying *cringe*. boo =(
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