Turochas Fuad will talk about real world examples of what it takes to raise funds.
Turochas “T” Fuad is the CEO and founder of Spacemob — a regional co-working space provider.
A seasoned entrepreneur who ventured into the world of startups after working in Silicon Valley, Spacemob is the third business that he’s established.
Fuad’s first startup was WUF Networks, Inc., a convergence software company which Yahoo! acquired in 2005. He went on to take charge of Yahoo!’s mobile division in Southeast Asia before joining Skype as its managing director.
Whilst working at Skype, Fuad founded Travelmob — an online marketplace for private accommodation and vacation rentals. In 2011, Fuad left Skype to concentrate fully on Travelmob, leading the Singapore-based company to a successful acquisition by HomeAway, Inc in mid-2013. HomeAway acquired 63% of Travelmob in an undisclosed, all-cash deal.
Fuad’s business interests and expertise include enterprise software, e-commerce, mobile, travel and consumer internet services.
We spoke with T Fuad to find out more about his thoughts on speaking at the upcoming Singapore Business Review's 20 Hottest Startups Panel Briefing 2017, happening on July 11, 2017, 8:30-11:30AM at the Meeting Room 333, Suntec Singapore Convention & Exhibition Centre.
What are your previous experiences and positions held that contributed to who you are as an entrepreneur today?
I founded Travelmob — an online marketplace for private accommodation and vacation rentals that was acquired by HomeAway in mid-2013. Passionate about the sharing economy and its potential for disruptive change, I saw an opportunity in the highly cluttered co-working space business. I see Spacemob as a natural continuation from Travelmob.
During my time at Travelmob I gained a profound understanding of how hotel operators work with property owners. I saw an opportunity to bring this model into the co-working industry. Spacemob was born out of the premise that space is secondary, what’s most important is the support we provide to members, and the ecosystem we build within the space.
What are your key business philosophies?
Build a strong team you can trust, understand your market and how you can differentiate yourself and constantly add value to members. Another big part of business in this part of the world is to always expand regionally, but remain locally relevant. With a landscape as varied as Southeast Asia, this can never be emphasised enough as an underlying philosophy that will sustain a company's growth in the long run.
Can you give us a glimpse of what you will talk about at the 20 Hottest Startups Panel Briefing 2017?
Real world examples of what it takes to raise funds, and what goes on in the minds of investors when evaluating a business. But more importantly, the role of capital in a company's lifecycle, and how an entrepreneur can manage that while having to do the tough job of running the company.
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