www.jumpstartmag.com The Entrepreneur’s Magazine Issue 29 April 2020 Anatomy of an Almost− Unicorn Charting Zilingo’s Zilingo Co-Founders meteoric growth Ankiti Bose & Dhruv Kapoor from pre-seed to global titan p. 50 Why mobile gaming is about to win big Rental, resale, and the fashion industry New challengers in the search engine space Transforming urban life through farming Teletherapy to expand access to mental health treatment EDITOR’S LETTER think it’s safe to say that 2020 is not turning out the way that any of us expected. The last time I wrote to Iyou, I was brimming with enthusiasm about globaliza- tion and its potential to bring the world closer together in the next decade. How innocent those words seem today. As we impatiently watch the consequences of the COVID-19 pandemic unfold, businesses around the world are adapting and recalibrating. The optimist in me A NOTE FROM OUR CEO believes that, through each Zoom call and face mask-to- Relena Sei face mask meeting, positive changes will happen. For now, all we can do is press on and wait for better days from the am honored to be a part of the Jumpstart family. It’s only safety of our homes. been two months since I joined, but I can feel the passion For us, business-as-usual means sending another Iin our office as we prepare to launch Jumpstart Media to issue your way. This ‘Back to Basics’ issue is a bit differ- new heights. ent. We’re covering innovation from another perspective: I am proud of our magazine, which our team has worked disruption through execution. Some of the startups we diligently to develop into the great product it is today. How- interviewed may not harness deeptech, but they are spear- ever, Jumpstart is not limited to being just a media platform, heading change through a new take on a traditional busi- as we are also a leading startup ecosystem-builder. Over the ness model. next few months, we will be announcing exciting new initia- In our cover story, we interview the co-founders tives geared toward supporting startups in this competitive of Zilingo–a soon-to-be ‘unicorn’ that is digitizing the and ever-changing landscape. ecommerce supply chain for small vendors and facto- Lastly, I welcome any stories and feedback from our com- ries throughout Southeast Asia. Although the company munity, both good and bad. I believe it is essential to listen to launched with the simple idea of connecting independent our readers, especially if they care enough about us to share merchants to consumers, it has since become a launchpad their thoughts. We truly consider you a part of our team and for small business owners to grow and thrive, elevating the integral to our success. I will remain accessible anytime by lives of those working in the region’s informal economy. email at [[email protected]]. In this issue, we also dive into the reinvention of con- We will build on our ongoing efforts to connect and signment and rental in the retail space, how urban farm- develop the startup ecosystem globally–from Hong Kong. ing is transforming cities, uncharted territory for mobile gaming, why ‘Googling’ may become a thing of the past, and the power of teletherapy. Last, but definitely not least, I’m excited to announce that Jumpstart Media welcomed Relena Sei as its new Chief Executive Officer in March. Jumpstart Media’s pre- vious CEO, James Kwan, will assume the role of Executive Chairperson. CHIEF EXECUTIVE OFFICER Relena Sei We’re looking forward to entering this new era of Jumpstart with you, and thank you for your ongoing sup- EXECUTIVE CHAIRPERSON James Kwan port. We wish everyone a happy and healthy Spring. EDITOR IN CHIEF Min Chen EDITORIAL ASSOCIATE Nayantara Bhat DIRECTOR OF OPERATIONS Anita Chan FOUNDER / ADVISOR Yana Robbins ADVISORS Joseph Chow, Carman Chan, Shitiz Jain, Leo Ku, Min Chen Derek Kwik, Jeanne Lim, Prem Samtani Editor in Chief JOURNALISTS IN RESIDENCE Monika Ghosh, Jordan Lee, Have thoughts about this issue? We’d love to hear from you. Email us at Sharon Lewis, Daneesh Shahar [[email protected]] and include your full name and email address. Please note that letters to the editor may be edited for length and clarity. SPECIAL THANKS Jasmine Chan, Kelly Cho, Anagha Nair COVER PHOTOGRAPHY Zilingo Copyright © 2020 Jumpstart Media Ltd. The contents of the magazine are fully protected by copyright and nothing may be reprinted without permission. The publisher and editors accept no responsibility in respect to any products, goods or services that may be advertised or referred to in this issue or for any errors, omissions, or mistakes in any such advertisements or references. The mention of any specific companies or products in articles or advertisements does not imply that they are endorsed or recommended by this magazine or its publisher in preference to others of a similar nature which are not mentioned or advertised. Published articles do not necessarily represent the views or opinions of Jumpstart Magazine. April 2020 Jumpstart Magazine 1 2 Jumpstart Magazine April 2020 April 2020 No. 29 ZILINGO Cover Story Anatomy of An Almost-Unicorn 50 Charting Zilingo’s meteoric growth from pre-seed to global titan ) MIDDLE ( RETYKLE / JENNA LOUISE POTTER 36 44 75 ECOSYSTEMS TRENDS TRENDS Introduction to the Korean The Fast Rise of New Challengers in the Search Startup Ecosystem Slow Fashion Engine Space April 2020 Jumpstart Magazine 3 4 Jumpstart Magazine April 2020 FEATURES P41 STARTUP TOOLKIT 26 Understanding Design Thinking Exploring the approach through relevant case studies ECOSYSTEMS 41 A Spotlight on MENA Tech Maturity and a mindset shift are transforming the region’s startup ecosystem TRENDS 58 Green Living Starts from the Top Fertilizing a sustainable lifestyle through urban farming TRENDS 62 A Golden Age for Power Ups P58 Eight years A.C.C. (After Candy Crush), the mobile gaming industry is ready to win big TRENDS 70 Transitioning to the Subscription Model Tis popular revenue model may not be for everyone FOUNDER STORIES 82 Match and Listen Transforming mental health treatment in Australia with Lysn Founder Dr. Jonathan King GUEST COLUMNS P62 8 A Stream of Influence By ASHLEY GALINA DUDARENOK Why China’s KOL market isn’t slowing down anytime soon 16 New Skies for the Photography Industry By EVGENY TCHEBOTAREV Bringing magic into photo editing using AI CONVERSATION STARTERS 20 Apped Up In You Interesting findings about your mobile gaming, dating, and shopping life P8 L I F E S T Y L E PODCAST REVIEW 91 Moonface created by James Kim BOOK REVIEW 92 How to Get Filthy Rich in Rising Asia by Mohsin Hamid E T C E T E R A ONE LAST QUESTION 96 What is one life hack that you swear by? April 2020 Jumpstart Magazine 5 C CONTRIBUTORS PHILIP BAHOSHY NAYANTARA BHAT LINA BODESTAD STEVE BRUCE Philip is the Founder and CEO Nayantara is Jumpstart’s Edito- Lina is a licensed psychologist Steve is a Hong Kong-based in- of MAGNiTT, the largest rial Associate. She is passionate based in Sweden and is one of dependent LinkedIn trainer and investment data platform for about gender equality and good the first in the country to spe- marketing consultant for small the MENA startup ecosystem. food, and loves to read and cialize in UX research. She is the and medium sized-enterprises. Raised in the UK with Iraqi ori- write about new and unusual Founder and CEO of Crimson With over 30 years of experi- gins, he obtained an MBA from applications of technology. She Vale Consulting, a startup that ence, he helps senior executives, INSEAD in 2013 and a BSc in has lived in India, Indonesia, and develops apps to gamify and business owners, and corporate Economics from the London New Zealand before moving to simplify everyday family life. teams to present themselves School of Economics. Hong Kong. Lina has a life-long love of tech. powerfully on LinkedIn. magnitt.com [email protected] linkedin.com/in/linabodestad sbconsulting.com.hk Read his feature on page 41. Read her feature on page 50. Read her feature on page 87. Read his feature on page 33. STEVE CERVANTES JASMINE CHAN KIMMY WA CHAN KELLY CHO Steve is an Associate Professor Jasmine is an Editorial Assistant Kimmy is a Professor in the De- Kelly is an Editorial Assistant at in the Department of Interna- at Jumpstart. Born in Melbourne partment of Marketing at Hong Jumpstart. She studies English tional Trade at Konkuk Univer- and raised in Hong Kong, she is Kong Baptist University School Literature and Translation at The sity in Seoul, Korea. He has held studying Linguistics at the Uni- of Business. Her research University of Hong Kong. She several media and think-tank versity of Hong Kong. Jasmine is specializations are in Services is also passionate about music positions throughout Asia. Pro- passionate about art, Broadway, Marketing and Customer Rela- and theater. In her spare time, fessor Cervantes is highly active and cultural exploration. She tionship Management, for which she enjoys playing violin, and at- in the Korean media scene and loves visiting art exhibitions or she has published numerous tending concerts and exhibitions often shares his expertise. belting out her favorite songs. studies. around Hong Kong. [email protected] [email protected] hkbu.edu.hk [email protected] Read his feature on page 36. Read her feature on page 58. Read her feature on page 23. Read her review on poge 91. JARED HAW DEEPA KAMATH LOUISA LAU SHIRLEY XUENI LI Jared manages EPower Corp, Deepa has over 30 years of Louisa is HelloReporter’s PR Shirley is an Assistant Professor a global contract manufac- experience as a designer and and Content Manager and in the Department of Marketing turing company that develops creative team manager.