Save22

Save22 is an Asian web and mobile shopping app that scans products and finds local stores selling that product.[1] The iPhone app version of Save22 (then known as Lobangclub) won Asia's Most Valuable App 2011 Award at Singtel TechVenture.[2][3]

Save22
Developer(s)BOB FTW PTE LTD
Initial release2010 (2010)
Stable release
1.1.0 on Android
2.0.1 on iOS
Written inObjective C, Java, Python
Operating systemAndroid, iOS
Size4.4 MB on Android
1.9 MB on iOS
Available inEnglish
TypeShopping
LicenseFree
Websitewww.save22.com

By 2012, the app has been number 1 in its category in the App Store[4] and has expanded to the Philippines, Malaysia and Singapore[5]

Save22 is cross platform, it is currently available on iOS and Android devices.

History

The company was founded by Guyi Shen with co-founders Ronald Cheung and Jeremy Foo, the app was originally named Lobangclub. The name was later changed due to an unexpected meaning of the world lobang in Bahasa Indonesian.[5]  The company is headquartered at NTU in Singapore, with its main work campus in Manila, Philippines.[6]

Investments

Save22 has received an undisclosed sum of funding from Crystal Horse Investments and MDA;[7]  After the investment, CEO of Crystal Horse Investments, Michiel Wind posted on AngelList:

Save22 is an innovative, SouthEast Asian startup company in the area of price-comparison, combining mobile and web solutions.

— Michiel Wind, AngelList[8]

Controversy

CEO Guyi Shen was featured on the reality TV Show Angel's Gate and appeared to agree on a mentoring relationship with two of the angels on the show for 10% equity in the company.[9]  This agreement was widely ridiculed as an example of investors taking advantage of entrepreneurs in the Singapore startup ecosystem.[10][11]  It later was revealed that the agreement never progressed beyond the TV studio.[12]

Features

The app allows user to scan items at home or in store to find similar products in nearby stores and compare prices. This can also be done with a name search.[13] Users can also add new products to the database thus incrementally building a bigger listing of products.[14]

Public reception

The app was judged Asia's most valuable App 2011 by Singtel Techventure.[15]  Subsequently, the company was invited to launch the app at the inaugural DEMO Asia 2012.[16]

The Straits Times reviewed the app and called it a "Must Have".[17]

The app maintains a 3.5 out of 5 stars rating in the App store and a 5 out 5 stars rating in the Play Store.

References
  1. Huang, Ryan (2012-10-08). "'Perfect time' for price comparison sites in Asia". ZDNet. Retrieved 2012-10-14.
  2. "Winners of Asia's Top 50 Apps announced - SGE : SGE". Sgentrepreneurs.com. 2011-10-15. Retrieved 2012-10-14.
  3. "Straits Times". October 15, 2011.
  4. "LobangClub App Hits Number One on iTunes Singapore". Penn-olson.com. 2011-09-29. Retrieved 2012-10-14.
  5. "Lobangclub launches Android app, drops the Lobang name - e27". E27.sg. 2012-08-10. Retrieved 2012-10-14.
  6. "Lobangclub – Will it work in Singapore? - e27". E27.sg. 2011-09-28. Retrieved 2012-10-14.
  7. "Portfolio «". Ch-investments.com.sg. Retrieved 2012-10-14.
  8. "Save22 - AngelList". Angel.co. Retrieved 2012-10-14.
  9. AngelsGate. "Angel's Gate Episode 3". YouTube. Retrieved 2012-10-14.
  10. "An Open Letter to Angel's Gate | Derrick Ko". Blog.derrickko.com. 2012-03-25. Retrieved 2012-10-14.
  11. "Angel's Gate: Good or Bad?". Techinasia.com. Retrieved 2012-10-14.
  12. "The insider story on Lobangclub's Angel's Gate appearance | Inside Save22(formerly Lobangclub)". Insidestartup.sg. 2012-03-22. Retrieved 2012-10-14.
  13. "Singapore's HSA Tells App Developer to Remove Posts on Cigarettes". The Jakarta Globe. Retrieved 2012-10-14.
  14. LoBangClub (2009-07-22). "Singapore iPhone app Lobangclub - Asia's Most Valuable App 2011". YouTube. Retrieved 2012-10-14.
  15. Jon Russell (2011-10-17). "Price comparison app Lobangclub named most valuable app at Accelerate". Thenextweb.com. Retrieved 2012-10-14.
  16. "Lobang Club". DEMO Asia. 2012-03-02. Archived from the original on 2013-03-20. Retrieved 2012-10-14.
  17. Grace Chng (2011-09-28). "Digital Life, Apps". The Straits Times.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.