Beyond 2020
Derrik Khoo was a journalist who wrote articles for News Straits Times, and together with an ex-employee of Microsoft Malaysia, they are the founders of GO2020. For those who are not familiar with this company's name and its core business, to put it simple, it is a company which rewards points to people who purchase things online. Just like Bonuslink and RealRewards.
As we all know, technology is here to stay, for good or worst, but one must also understand the culture of Asia before going out with their bright ideas. GO2020 goes to show a very good example of Malaysian do not like to shop online, let alone pay any fees for extra internet servicessuch as bigger email storage, buying top-up card online and so on. When is the last time you buy stuff on internet auction in Malaysia?
The ideas of Derrick Khoo and Chris Chan are only able to work in an air-con meeting room, and not to mention their very own imagination. Its good though to have a wild and creative and innovative imagination, but sometimes we must understand that gravity still exist and imagination of theirs should stay relevant and logical.
The major shareholder of GO2020.com are MSC Ventures investee, which paid RM3.5 million for a 23 cent stake last january, while Sapura Holdings Sdn Bhd with 19 percent. GO2020 is not the nly Malaysian company that went bust together with their wild dream. Yeoh and a colleague from Merill Lynch set up Malaysiastreet.com with their own capital also went bust. In a farewell message posted on the site at 6pm on Friday, Yeoh says market conditions were too hostile for them to realistically hope to break even in the near future.
Source : The Edge and Screenshots
