When I met Saumil and his partner Bernard last year in Singapore, I wasn’t sure about his plan by taking his company Chalkboard to the US market. The concept is easily cloned by some company in Silicon Valley and would’ve probably gain more exposure and investors’ trust compared to some company from Singapore.
Saumil has proven me wrong.
His company received funding from Neoteny Labs, a Singaporean fund backed by Twitter’s early investor Joi Ito who has strong connection to tech startups and investors in US. This strategic move works perfectly for Chalkboard to go conquer the US market with the help of their investors.
So in this session of CEO Corner, I’m interviewing Saumil Nanavati the founder and CEO of Chalkboard. Check it out!
Can you do a little introduction on yourself?
I am CEO and co-founder of Chalkboard, which helps small businesses communicate instantly, locally and socially over mobile and web. I am a serial digital entrepreneur, interested in using technology to do old-fashioned things in new ways that make those activities more powerful, more affordable or both.
How do you end up here? What’s your background and how you started Chalkboard?
I have known my co-founder, Bernard Leong, for many years. We wanted to create a smart, easy to use, daily marketing solution for SMEs, which are an underserved group in marketing and mobile.
Prior to Chalkboard, I was co-founder and CEO of Sydus, the largest pan Asian advertiser funded mobile music service, which was acquired by (fill in name). I started my career in the US at a variety of technology-oriented companies such as, Epicentric Inc., Scient Corporation and Motorola.
What is your inspiration for founding Chalkboard?
The name “Chalkboard” was inspired by the easily updated chalkboards that you often find in restaurants where new menu items, daily specials and offers can be added or changed easily. Our company provides businesses of all sizes, especially SMEs, the ability to leverage the reach of mobile and the web by bringing messages to potential customers when they are nearby the business location. Just like a real chalkboard, businesses can instantly update their messages as frequently as they wish, but now with expanded reach.
As a Singaporean-based company, you guys are very aggressive in expanding to US market. Why do you guys decided to expand to US first?
The US is a key market for us for a couple of reasons. The majority of businesses in the US are small to medium-sized businesses so the audience made sense. And even with the proliferation of deal-of-the-day type offerings in the US, their model of requiring deep discounts and profit-cutting expenses are definitely not small business-friendly like Chalkboard is.
Also, leveraging the power of social integration is a key feature in our product and the US and Southeast Asia tend to have the largest social media markets in the world.
How do you see Chalkboard in the future, say 3 years from now?
Chalkboard will continue its great momentum and become a key daily marketing tool for local businesses across the globe. There is a convergence of mobile, location-based services and social media happening right now that we will see proliferate in the next few years. Chalkboard is and will continue to play a role in shaping how local consumers find new places and stay in touch with their favorite places wherever they are.
What’s your opinion on Indonesian mobile market?
The Indonesian mobile market presents an incredible opportunity for Chalkboard. We are very excited to expand our reach here and think that the fit is a great one as Indonesian consumers are savvy in their use of mobile and social media.
As an entrepreneur, what do you have to say to fellow entrepreneurs starting up in Indonesia?
Good luck and let us know if Chalkboard can help you!