Home News How success at the poker table might produce first unicorn from Hong...

How success at the poker table might produce first unicorn from Hong Kong

Author

Date

Category

- Advertisement -

Headquartered in Hong Kong, Lalamove looks like one of the city’s best shots to reach that US$1billion valuation

A fairly typical startup story involves a young Founder toiling away in their corporate job for a few years. After feeling a sense of disillusionment, the person quits their job to start a company. Success or failure is then a coin-flip from that point.

However, in the case of Shing Chow, the Founder of LaLa Move, there was a four-year gap in which the CEO became a professional poker player. He eventually made millions, which became the necessary nest egg for starting the delivery company Lalamove (previously EasyVan).

Today, Lalamove is one of the most successful startups in Asia and is in a horse race with Tink Labs to become Hong Kong’s first unicorn.

- Advertisement -

Also Read: Best digital marketing strategies, as shared by 3 CEOs

On today’s episode of The Jay Kim Show, Chow takes you through Lalamove’s history and explains why it is important to “have a bias for action”.

Show notes are below.

Links from Today’s Episode

Read the full transcript from Shing’s interview
Connect with Shing on LinkedIn
See how Lalamove is disrupting the logistics industry

Detailed Show Notes

  • (2:15) A background on Shing Chow and his incredibly successful startup, Lalamove
  • (3:13) Shing decides to leave his cushy corporate job to try his luck at the poker table
  • (6:20) On turning a hobby into a living
  • (10:05) Shing takes a gamble and hides his professional poker ambitions from his parents
  • (11:52) Shing’s introduction to entrepreneurship and the origins of Lalamove
  • (14:46) On building a company that’s scalable from day one
  • (17:14) The biggest challenges Shing faced when launching his startup with no tech or management experience
  • (19:32) Why EasyVan became Lalamove
  • (21:06) Shing underestimates the amount of capital required to scale his technology app
  • (24:01) Lalamove’s largest market and where it’s heading next
  • (25:24) Shing’s experience expanding into China
  • (27:46) Will Lalamove become Hong Kong’s first unicorn?
  • (29:07) Shing’s advice for aspiring entrepreneurs: have a bias for action and be committed to what you do

Also Read: 4 startup lessons from Motown

The post How success at the poker table might produce first unicorn from Hong Kong appeared first on e27.

Source: e27

- Advertisement -

29-year-old inmate gets straight As for O levels, tops her cohort

Singapore — A 29-year-old inmate has topped her inmate cohort in the results for last year's GCE O-level examinations, according to the Singapore Prison Service (SPS) on Wednesday (Jan 13). Her story was released on Captains of Lives, the Facebook page...

9 new NMPs lay out topics they will be bringing up in Parliament

Singapore—House Speaker Tan Chuan-Jin announced on Thursday (Jan 14) that the nine new Nominated Members of Parliament (NMP) are to be appointed on Jan 21. The NMP scheme, introduced in Singapore in 1990, was put in place to ensure that there would...

Chee Soon Juan posts video calling out “sinful waste of public funds in Bukit Batok”

Singapore—Dr Chee Soon Juan, the secretary-general of the Singapore Democratic Party (SDP), posted a video on his Facebook page on Wednesday (Jan 13) decrying a "sinful waste of public funds in Bukit Batok.” He was referring to a proposed linkway from Member...