08 Apr '15, 10pm

@naffyboy oppss..my bad..they started the business with 100k...50k each...go read this blog post

@naffyboy oppss..my bad..they started the business with 100k...50k each...go read this blog post

We couldn’t get grants because we were no longer a startup (requirement for startup is 3 years and below, so if your business is less than 3 years, GO AND GET A GRANT NOW). We couldn’t get bank loans because we have no assets such as property and banks were so hard to convince because not a lot of them understand the potential of the e-commerce industry. VCs were the obvious choice for us. There aren’t a lot of VCs in Malaysia, so we looked everywhere, even as far as the US. Dean prepared the lengthy presentation of budget, projections, business plans, the whole works. He had sleepless nights working on this, but oh the rejections we received… it was really tough and I can see how easy it is for people to give up if they don’t persevere. I still remember a time when we dropped everything when we got a callback from a Singaporean VC (who btw invested in our competitor and w...

Full article: http://www.proudduck.com/2015/03/our-recent-funding/

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