Tag Archives: ridzuan

Coffee with 3 entrepreneurs at Geek Terminal

 

It is a beautiful Wednesday morning. Shen has invited Jeremy, Ridzuan and me for a coffee session at Geek Terminal. Each and every one of us chatted about anything under the sun. The most surprising thing we got to know from Jeremy is that Nokia had involved in many businesses in Finland. Nokia is a giant conglomerate someone like TATA in India. They used to sell car tires specifically designed for winter. (They had already sold their tires businesses. See link here)

 

So who are these entrepreneurs?

 

1. Shen, Founder/ Managing Director of Jorbb.com

 

Jorbb.com is Singapore’s newest site created expressly for non-executive jobs, for individuals seeking freelance, contract, part-time and casual employment. 

This innovative and uniquely interactive portal enables its users to not only post their resumes, but also photos, slideshows and video profiles.

 

Website: http://Jorbb.com

 


 

2. Jeremy, Managing Director of Metaversum Asia Pte Ltd (Singapore)

 

Metaversum develops and operates the 3D online world Twinity. This visionary project mashes up the real with the virtual world. Members of the Twinity community enrich and expand their lives by integrating their real life into the virtual world. Twinity is set to launch this summer and is currently in private beta. Founded in July 2006, Metaversum is financed by leading venture capital firms and has offices in Berlin and Kiev.

 

Company Website: http://www.metaversum.com/

Twinity website: http://www.twinity.com/en

 

 

 

3. Ridzuan Ashim, co-founder of Widgeous

Officially incorporated in early 2008 by 2 individuals, Widgeous is in the business of creating a web technology-based solution for solving the problem of having too many isolated channels of communication. Keeping to philosophy of keeping things simple, the company has built a platform which allows people to keep a centralised repository of their contact information. With that, others who wish the contact the individual can now do so simply by specifying the individual’s Widgeous ID. Widgeous then helps to decide the most efficient method for delivering the message.

The platform is also an open platform that allows application developers to build applications that fully utilize their cross-channel capabilities.

Website: http://widgeo.us/

 

 


 

 

 (From Left) Neo, Jeremy, Shen, Ridzuan 

Entrepreneurship in Meltdown

 

A follow-up of Ridzuan’s email – “Keep it going. Don’t lose heart!” It is pretty clear that the market is filled with pessimism especially of the poor performance in the US retail sector. The retail sales in US declined to 1.2% in the month of September. (Read article here). It is pretty obvious that export-driven Asia economies will be badly affected as the demand of US falls.

 

In Ridzuan’s email, I understand the anxiety faced by many startups in Singapore as funding activities will be greatly reduced due to the US subprime crisis. The market sentiment has been worsened when Singapore government has announced that Singapore has entered into a technical recession. A technical recession refers to 2 consecutive quarters of contraction. (Read article here)

 

For those who are involved in a high burn-rate technology early-stage startup, it is going to possess a really big problem in your venture as many PE/VC are reducing their positions instead of investing more on new ventures. In fact, big MNCs are taking the opportunities to look for “bargain” in the market. M&A will still remain strong despite the global meltdown but that only benefits private companies which have reached a certain scale (Read article here). For those startups that are still in the infant stage, better know how to control your spending. Only the Fittest Survive! If the company can pull through the bad weather, the market will definitely value it differently.  

 

This blog post is not meant to discourage passionate people who are starting up. In fact, I admired people like Ridzuan and Kelvin for taking the path of an entrepreneur. Bad time doesn’t always mean problems. It possesses opportunities too. As mentioned by Ridzuan and Bernard, it is the best time to hire talented people since the big players have already reduced or froze hiring. 

 

If you haven’t read Ridzuan’s email, you can access from here.