Page365 Successfully Gains Funding From Galaxy Ventures.
Reports have been popping in recently of a Thai Startup named Page365 has managed to secure an undisclosed investment from Galaxy Ventures, led by Adrian Stewart. Co-founded by Lusarun Silpsrikul and Prathan Thananart, Page65 is a social commerce solution that allows users to make instantaneous purchases on social platforms. It features an interactive dashboard for sellers to manage all their communication with their customers and complete transaction right away. The man digs is the proprietary natural language processing engine, which allows the software to handle automated responses and provide detailed analysis of the customer behavior.
Trumph and Adrian had originally met during the 3 Days Startup Event near the end of 2012, During that time, Trumph was not aware that Adrian was working alongside Galaxy Venture, that is until Adrian got in contact, offering a proposal Page365 simply couldn’t refuse. Two meetings where only necessary for them to come between a deal. Although, Thailand’s laws are not always easy on investment deals as these are. While the deal had been agreed upon quickly the paper work took months to complete.
Adrian had commented that the problem with investing within Thai startup is threefolds. preferences share are not recognized under the law of Thai company for privately companies. Only public held companies are allowed issue preference shares wherefore investors have to hold common shares. Secondly, only public held companies can issue convertible notes. And lastly, vesting periods are usually placed on Founders, in order for them to work at a certain period of time before their shares are vested. In Thailand, someone else will have to hold on to the share in lieu.Trumph had worded far more simply by saying: “The Thai law is not really compatible with startups.”
Page365 has planned to use the funding for product development and marketing development. the startup wishes to cover more social platforms and provide a complete solution for vendors and purchasers in order to deliver customers a reliable social experience and for vendors to have a sophisticated tool to run their businesses. For their long term plans, the group is also looking for ways to expand their user base locally and internationally.
Trump view the maturing e-commerce market as a grand opportunity, particularly in collaborating with boutique stores. While he personally believes that the mass market belongs to traditional stores, boutique store still gain mot of their customers through the use of social media. Similar solutions to Page365 also exist withing the US. despite the increasingly mature e-commerce landscape. Trumph expects social commerce to increase internationally because vendors on social media will continue to have a bigger advantage of huge traffic virility of social media.