- Green Growth
- Your Consultant
Chatting with Truong Cong Thanh, CEO, Ecomobi
Why was Ecomobi registered for establishment in Singapore when its four founders are Vietnamese?
Singapore is financially transparent, and from inception, Ecomobi has been aiming to grow into a regional-level firm. Registration procedures in Singapore are simple, only take a few days, and the country also accepts adverse payment methods.
What experience could you share with other startups after two successful rounds of capital mobilisation?
Startups need to take capital raising as their daily duty. Meeting 10 customers, you could be considered lucky if you can persuade one to buy your products. Meeting 100 investors, it is
fortunate if you can persuade one to open their wallet. When raising capital, startups should turn to investment funds which can give them practical advice to increase business success.
Ecomobi was founded in March 2016 by Truong Cong Thanh and three colleagues in an attempt to address the conundrum attached to online selling – connecting businesses with the best advertising experts and the individuals with strong influence on social networks.
Recently, the platform announced a successful second capital raising round from two big venture capital funds, Vietnamese ESP Capital and South Korean Nextrans. This success will help cultivate its resources for the upcoming advance into Thailand, and lay the bedrock for further penetration into other Southeast Asian markets.
Thanh conceived the idea of Ecomobi when he worked in the marketing business, in a bid to tackle the greatest challenge in the field: how to bring ultimate value to corporate customers through creating effective online selling brands.
In Thanh’s mind, Ecomobi is a smart way to boost online sales that producers and media agencies’ marketing teams had yet to find.
Most media companies currently hold commitments with their corporate customers about product coverage, image appearance or mouse-click volumes, while hardly any firms can fulfil commitments about bringing a volume of users with a keen interest in the product.
“From another angle, content creation communities are widely popular on social network platforms like Facebook, Zalo, and Instagram in other Southeast Asian countries. Therefore, the question is why we don’t connect both sides for product image promotion optimisation, leaving the content creation communities to create orders for the goods,” Thanh said.
Based on his own experience and the study, Thanh came to the decision of founding Ecomobi which acts as the online selling intermediary platform with the commitment of bringing ultimate value to customers.
Ecomobi plays the role of connecting the business, advertising, and content creation communities through a revenue sharing format. Only when the order is successfully processed must business owners pay Ecomobi.
This drive could benefit all relevant sides. Business will have an opportunity for revenue augmentation, whereas the content creation communities could count money from promoting their product image, their assessments, or directly selling suitable products and services from prestigious brands to their fans.
Through Ecomobi, anyone could create income from their interactive channels on social network sites.
Ecomobi was built on two major tech platforms: AI/Machine learning and the smart recommendation system, helping to gauge compatibility and allowing automatic connection between businesses and content creation communities.
Furthermore, transactions conducted on Ecomobi ensure transparency by virtue of technology through the vehicles helping to keep track and analyse each order’s efficiency. From there, businesses can effectively control their advertising budget and the expense from each implemented order.
With its righteous approach, the fresh platform has been warmly received by customers.
The platform has attracted more than 30,000 sellers who have registered to sell products from more than 100 big customers in the region, such as Lazada, Shopee, Tokopedia, and Tiki. Its sales revenue in the last two years came to approximately $200 million.
Thanh said that in the next three years, Ecomobi aims to serve 500 different brands across Southeast Asia, focusing on Indonesia, Malaysia, Vietnam, Thailand, and Myanmar.