Lived It Lecture with Allen Lau of Wattpad - Entrepreneurship 101 (2013/2014)


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Wattpad is the world’s largest community for discovering and sharing stories. With thousands of new stories added every day, it is the only place that offers a truly social, and entirely mobile reading experience for free. Wattpad serves over 15 million people a month and with over 20 million stories uploaded. Come and hear Allen tell the Wattpad story.

We believe in the power of learning from entrepreneurs to help you succeed. “Lived It Lectures” offer unparalleled access to successful entrepreneurs to hear first-hand and ask questions about the experience of building an innovative startup from founders who have seen it and done it.

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Lived It Lecture with Allen Lau of Wattpad - Entrepreneurship 101 (2013/2014)

  1. 1. Last month people spent over 5 billion minutes on Wattpad (that’s  in  the  same  ballpark  as  Pinterest)   Enrich  Lives  Through  Stories  
  2. 2. WHAT IS WATTPAD The largest community for reading and sharing stories It’s  a  new  form  of  entertainment   Enrich  Lives  Through  Stories  
  3. 3. OUR VISION A new reading and writing experience that enables the creation of personal connections and billions of new stories. Together with the crowd we will enable the future of storytelling. Enrich  Lives  Through  Stories  
  4. 4.     Video                   Images               Audio           News           Blog           Interest  based  social  media   Enrich  Lives  Through  Stories   Stories          
  5. 5. OUR NUMBERS 5.2  billion  minutes  per  month   24M  monthly  unique  users   75  minutes  /  DAU  mobile   3M  monthly  uploads,  35M  total  uploads   30M  monthly  comments/messages   Top  ranked  eReading  app  in  all  major  app  stores  globally     Monthly  Time  Spent  (Million  Minutes)   Monthly  Unique  Visitors   Android   iOS   10   Desktop   Oct-­‐13   Jul-­‐13   Apr-­‐13   Jan-­‐13   0   Oct-­‐12   5   Jul-­‐12   Enrich  Lives  Through  Stories   Oct-­‐13   Jul-­‐13   Apr-­‐13   Jan-­‐13   Oct-­‐12   Jul-­‐12   Desktop   15   Apr-­‐12   iOS   20   Jan-­‐12   Android   Users  in  Millions   25   Apr-­‐12   5500   5000   4500   4000   3500   3000   2500   2000   1500   1000   500   0   Jan-­‐12   •  •  •  •  •  •   
  6. 6. WHAT I LEARNED …. 1.  It  takes  a  loooooong  Ome  to  build  a  company   2.  Perseverance   3.  Build  a  company  with  a  purpose   Enrich  Lives  Through  Stories  
  7. 7. The  WaRpad  Story   Enrich  Lives  Through  Stories  
  8. 8. Fall 2002 Enrich  Lives  Through  Stories  
  9. 9. October 2006 Enrich  Lives  Through  Stories  
  10. 10. Enrich  Lives  Through  Stories  
  11. 11. January 2007 Enrich  Lives  Through  Stories  
  12. 12. February 2007 Enrich  Lives  Through  Stories  
  13. 13. Summer 2007 Enrich  Lives  Through  Stories  
  14. 14. Summer 2007 We  started  another  company  because   we  need  to  eat.         Enrich  Lives  Through  Stories  
  15. 15. Summer 2007 Enrich  Lives  Through  Stories  
  16. 16. Spring 2008 We  did  freelance  consulOng   on  the  side  to  keep  us  going.     But  we  also  declined  a  few   projects.   Enrich  Lives  Through  Stories  
  17. 17. September 2008 •  •  •  •  •  FeedM8  was  acquired!   A  week  later,  Lehman  Brothers  collapsed   App  Store  launched  in  July   T-­‐Mobile  G1  Android  phone  was  announced   Meanwhile,  look  at  a  snapshot  of  our  traffic  at  that  Ome!   Enrich  Lives  Through  Stories  
  18. 18. Spring 2009 •  •  •  •  Launched  on  the  App  Store  &  BlackBerry  App  World   Renamed  to  “100,000  Free  Books  –  WaRpad”     RIM  pulled  our  app  within  days   Started  to  work  on  filter  for  copyright  infringing  material   Enrich  Lives  Through  Stories  
  19. 19. May 2009 Print  Books  Are  Target  of  Pirates  on  the  Web   “An  expanding  appeOte  for  e-­‐ books  has  spawned  a  bumper  crop   of  pirated  ediOons  on  Web  sites   like  Scribd  and  WaRpad”   “Sites  like  Scribd  and  WaRpad,   which  invite  users  to  upload   documents  like  college  theses  and   self-­‐published  novels,  have  been   the  target  of  industry  grumbling  in   recent  weeks”   Enrich  Lives  Through  Stories  
  20. 20. June 2009 •  Filter  launched  with  help  from  Random  House,  Penguin,   HacheRe  etc.   •  Meanwhile,  we  ported  our  Java  app  to  Android   •  Monthly  new  story  uploads  jumped  to  10,000   Enrich  Lives  Through  Stories  
  21. 21. Summer 2009 “Allen,  thank  you  for  bringing  the  wriRen  word  to  my  country.      We   have  no  access  to  bookstores.    Even  if  we  did,  we  wouldn’t  have   money  to  buy  books.    I  am  grateful  for  what  you  have  done  for  us.”   Enrich  Lives  Through  Stories  
  22. 22. September 2009 Full  Ome  working  on  WaRpad,  again!   Enrich  Lives  Through  Stories  
  23. 23. January 2010 “Ten  years  ago  I  couldn’t  even  get  my   daughters  to  pick  up  a  book  never  mind  read   one.  Now  not  only  are  they  actually  reading   books  but  wriOng  them  …  goRa  love  it!!”     Enrich  Lives  Through  Stories  
  24. 24. May 2010 Enrich  Lives  Through  Stories  
  25. 25. September 2011 We  raised  $3.5M  from  Union  Square  Ventures,     Golden  Venture  Partners  and  Version  One  Ventures   Enrich  Lives  Through  Stories  
  26. 26. April 2012 London Meetup Enrich  Lives  Through  Stories  
  27. 27. Enrich  Lives  Through  Stories   Hackney,  East  London,  UK  
  28. 28. “Basic  reading  skills  can  lif  millions  out  of  poverty”     United  NaOons   Enrich  Lives  Through  Stories  
  29. 29.   Thank  You!   Allen Lau CEO and co-founder @allenlau P.S. We are hiring :-) Funded by: Union Square Ventures Khosla Ventures OMERS Ventures Golden Venture Partners Version One Ventures Jerry Yang Enrich  Lives  Through  Stories