Save22, formerly known as Lobangclub, is a Singaporean 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]
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]
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.[8] This agreement was widely ridiculed as an example of investors taking advantage of entrepreneurs in the Singapore startup ecosystem.[9][10] It later was revealed that the agreement never progressed beyond the TV studio.[11]
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.[12] Users can also add new products to the database thus incrementally building a bigger listing of products.[13]
Public reception
The app was judged Asia's most valuable App 2011 by Singtel Techventure.[14] Subsequently, the company was invited to launch the app at the inaugural DEMO Asia 2012.[15]
This page is based on this Wikipedia article Text is available under the CC BY-SA 4.0 license; additional terms may apply. Images, videos and audio are available under their respective licenses.
