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#32-Allen Lau, Co-Founder of Wattpad: Lessons From Building A $600M Startup And Funding The Future of Innovation
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Allen Lau is a self-described 'recovering' CEO, and 3x entrepreneur, an engineer by training, a rocket scientist at heart, and a venture capitalist by profession. He was the CEO and co-founder of Wattpad, the world's largest social storytelling company with 100 million monthly users. A few years ago, the AI-powered company was acquired by Naver for over US$660 million.Allen is now co-founder and operating partner at Two Small Fish Ventures, an early-stage venture capital firm that is investing in the next frontier of computing and its applications. He also serves on the board of MaRS, the largest urban innovation hub in North America, and Openmind Research Institute, a non-profit organization focused on conducting AI research leading to a better understanding of minds.In this episode, Allen talks about what it took to grow Wattpad, the world's largest social storytelling platform and why he thinks deep tech is the future of innovation. TIMESTAMPS:00:00 Trailer 00:51 Allen's Founding of Wattpad06:49 The Cold Start Problem To Building A Marketplace13:57 Persisting Through The Trough15:26 Scaling Up: The Decision to Expand18:35 Securing VC Funding25:18 Wattpad's Refusal To Enter Silicon Valley33:07 Lessons As A CEO36:41 Why CEOs Need To Constantly Communicate40:05 Wattpad's Strategic Growth and Evolution42:28 Navigating Naver's Acquisition 48:10 Investing In Deep Tech57:18 The Future of Technology and Innovation01:03:47 What Singapore and Canada Share In Common01:08:08 Book Recommendation & AdviceFeel free to mingle in the comments below or head to...Instagram: https://www.instagram.com/frontrow.65/Linkedin: https://www.linkedin.com/in/keith-yap/Website: www.ykeith.comEmail: [email protected]
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