TECH IN ASIA - Sep 6 - In the US, ~70% of tech startups "stall at some point" in the venture capital process and "fail to exit or raise follow-on funding," according to a 2017 report from research firm CB Insights, which followed ~1K companies. But startup activity in Southeast Asia has never been as robust as it is now, with funding for homegrown ventures hitting a record $7.86B in 2017. Tech in Asia interviewed founders of companies in different stages of growth.
Ng Jing Shen, co-founder and CEO, Paktor
Together with Joseph Phua, the former Amazon software engineer launched dating app Paktor in 2013. Ng has helped it grow to ~880K monthly active users, and Paktor now claims a user base of ~15M. Its largest markets are in Taiwan, Singapore, Malaysia, and South Korea.
Q: In a landscape dominated by US-based dating apps, how do we create a dating app more suitable for Asian culture?
A: We were aware that dating is extremely culturally sensitive, and the app we were creating needed to have its very own DNA.
Q: How should we differentiate ourselves from other dating apps?
A: We ensure high levels of localization in user experience.