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.
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
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
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