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Entrepreneur? Me?           Allen Lau allen@wattpad.comwattpad.com/allenlau          @allenlau     Unlimited Stories
LET ME FIRST INTRODUCE MYSELF
LET ME FIRST INTRODUCE MYSELF •   My name is Allen Lau •   I am a serial entrepreneur •   Currently CEO and co-founder, Wa...
WHAT IS WATTPAD?
WHAT IS WATTPAD?The largest online community of readers and writersOur investors:• Union Square Ventures• Golden Venture P...
OUR GOAL
OUR GOAL   It’s a new form of entertainment
Video   Photos   Sound      140       Images       Stories                         characters                             ...
KEY METRICS
KEY METRICS• 2.6 billion minutes time spent by           Time Spent (million minutes)  users Q4 2011                      ...
ENTREPRENEUR? ME?
ENTREPRENEUR? ME? –   You are likely to fail, and it’s okay –   Think big –   Make the world a better place –   Start young
YOU ARE LIKELY TO FAIL, AND THAT’S OKAY
YOU ARE LIKELY TO FAIL, AND THAT’S OKAY• Over 90% of startups fail• The journey is as important as the destiny• My compani...
THINK BIG
THINK BIG •   Internet is a volume game     –   4 billion mobile phones •   Big market     –   Don’t create an app for Tor...
MAKE THE WORLD A BETTER PLACE
MAKE THE WORLD A BETTER PLACE •   Think big ≠ Megaupload •   Possible to maintain a balance between doing     social good ...
START YOUNG
START YOUNG• My own mistake• Easier to innovate  – No preconception of how things work• If it fails, you can always go bac...
IF YOU CAN ONLY REMEMBER ONE THING
IF YOU CAN ONLY REMEMBER ONE THING• Start your own company• If not feasible, the next best thing is to work for a  great s...
Thank You!allen@wattpad.comwattpad.com/allenlau@allenlauBTW, we are hiring                                  Allen Lau    ...
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Wattpad cutc feb_4_2012

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Allen Lau's keynote presentation on Feb 4 2012 @ CUTC Tour.

Published in: Economy & Finance, Business
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Wattpad cutc feb_4_2012

  1. 1. Entrepreneur? Me? Allen Lau allen@wattpad.comwattpad.com/allenlau @allenlau Unlimited Stories
  2. 2. LET ME FIRST INTRODUCE MYSELF
  3. 3. LET ME FIRST INTRODUCE MYSELF • My name is Allen Lau • I am a serial entrepreneur • Currently CEO and co-founder, Wattpad • Before Wattpad, I was CEO and co-founder, FeedM8 – Mobile advertising company, acquired by Upstream Systems • Before FeedM8, I was CTO and co-founder, Tira Wireless – Leading mobile content publishing and deployment company – Raised $30M from Venture Capital – Grew from 2 co-founders to 200+ employees – 4th fastest growing wireless company, Deloitte Fast 50
  4. 4. WHAT IS WATTPAD?
  5. 5. WHAT IS WATTPAD?The largest online community of readers and writersOur investors:• Union Square Ventures• Golden Venture PartnersRecent Awards:• Deloitte Impact Infused Top Entrepreneur• #1 amongst digital media companies in the Canadian Innovation Exchange• Best Overall Canadian Startup of 2011
  6. 6. OUR GOAL
  7. 7. OUR GOAL It’s a new form of entertainment
  8. 8. Video Photos Sound 140 Images Stories characters (and other (and other short-form long-form content) content) Social Media / User Generated Content
  9. 9. KEY METRICS
  10. 10. KEY METRICS• 2.6 billion minutes time spent by Time Spent (million minutes) users Q4 2011 3000• Usage doubles every 6 months• 7M monthly unique users 2500• 30 minutes per visit (US, UK, CA, AU, etc.) 2000• 300,000 monthly uploads 1500• 3M cumulative uploads 1000• 3M monthly comments and votes• Top ranked eReading app in all 500 major app stores (#1 in App World, Top 10 in App Store, etc.) 0 Web Mobile
  11. 11. ENTREPRENEUR? ME?
  12. 12. ENTREPRENEUR? ME? – You are likely to fail, and it’s okay – Think big – Make the world a better place – Start young
  13. 13. YOU ARE LIKELY TO FAIL, AND THAT’S OKAY
  14. 14. YOU ARE LIKELY TO FAIL, AND THAT’S OKAY• Over 90% of startups fail• The journey is as important as the destiny• My companies – Tira Wireless (burnt $30M) – FeedM8 (almost ran out of $ before being acquired) – Wattpad (with no traction, we almost pulled the plug)• You can learn a lot in a very short period of time – Not possible if you work for a large company
  15. 15. THINK BIG
  16. 16. THINK BIG • Internet is a volume game – 4 billion mobile phones • Big market – Don’t create an app for Toronto Mongolian food lovers • Disruptive ideas – New business model? New process? New technology? – Education, transportation, clean tech etc. – Wattpad vs traditional publishing
  17. 17. MAKE THE WORLD A BETTER PLACE
  18. 18. MAKE THE WORLD A BETTER PLACE • Think big ≠ Megaupload • Possible to maintain a balance between doing social good and making a dime • The Wattpad story – Improve literacy rate in Africa – Help students to improve their writing skill – Encourage young people to read more
  19. 19. START YOUNG
  20. 20. START YOUNG• My own mistake• Easier to innovate – No preconception of how things work• If it fails, you can always go back to your parents!• But don’t be a dropout
  21. 21. IF YOU CAN ONLY REMEMBER ONE THING
  22. 22. IF YOU CAN ONLY REMEMBER ONE THING• Start your own company• If not feasible, the next best thing is to work for a great startup – Work for a single startup might be risky, work in the “startup” industry is not risky• Experience you won’t regret
  23. 23. Thank You!allen@wattpad.comwattpad.com/allenlau@allenlauBTW, we are hiring  Allen Lau CEO and co-founder

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