Wattpad cutc feb_4_2012

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

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<ul><li> 1. Entrepreneur? Me? Allen Lau allen@wattpad.comwattpad.com/allenlau @allenlau Unlimited Stories </li> <li> 2. LET ME FIRST INTRODUCE MYSELF </li> <li> 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 </li> <li> 4. WHAT IS WATTPAD? </li> <li> 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 </li> <li> 6. OUR GOAL </li> <li> 7. OUR GOAL Its a new form of entertainment </li> <li> 8. Video Photos Sound 140 Images Stories characters (and other (and other short-form long-form content) content) Social Media / User Generated Content </li> <li> 9. KEY METRICS </li> <li> 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 </li> <li> 11. ENTREPRENEUR? ME? </li> <li> 12. ENTREPRENEUR? ME? You are likely to fail, and its okay Think big Make the world a better place Start young </li> <li> 13. YOU ARE LIKELY TO FAIL, AND THATS OKAY </li> <li> 14. YOU ARE LIKELY TO FAIL, AND THATS 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 </li> <li> 15. THINK BIG </li> <li> 16. THINK BIG Internet is a volume game 4 billion mobile phones Big market Dont 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 </li> <li> 17. MAKE THE WORLD A BETTER PLACE </li> <li> 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 </li> <li> 19. START YOUNG </li> <li> 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 dont be a dropout </li> <li> 21. IF YOU CAN ONLY REMEMBER ONE THING </li> <li> 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 wont regret </li> <li> 23. Thank You!allen@wattpad.comwattpad.com/allenlau@allenlauBTW, we are hiring Allen Lau CEO and co-founder </li> </ul>