Relocating the company HQ
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Alex Rahaman, CEO and founder of StrikeAd, explains how moving the business' base to New York, and expanding into Asia, is allowing the mobile advertiser to fulfill its ambition and potential.
Close to StrikeAd's two year birthday we had been enjoying a successful 'honeymoon' period, experiencing growth and beginning to carve a name for ourselves.
But there was a quick realisation that now is the time to make our mark as the category leader in this space. If you wait too long, and that spot gets taken.
As with any industry that is new and rapidly growing like mobile advertising, the timing of our move was imperative to ensure that we positioned StrikeAd ahead of the game, and before the larger, traditional companies turned up to the party.
The decision to relocate our global HQ from London to the Flatiron District in New York (think Silicon Valley with sky scrapers) has changed StrikeAd's direction and removed any shackles.
As we moved to Big Apple, we received West Coast venture capital funding of $500,000 (£319,000) on top of our previous European $4.65 million investment - an indication of market support for our decision, stemming from our successes here in the UK and Europe.
And now we are set to move into Asia. In such a rapidly moving industry, the time is right to meet our ambitions and make the next move.
The decision to expand into Asia is an important one, and once more timing was a key factor. According to Informa, mobile commerce in AsiaPac is expected to reach $139 billion by 2012, with online advertising spend across the region reaching $22.2 billion by 2014. With figures like that, we have to move quickly to maximise our chances of success.
More important business decisions:
- Major investment into technology
- Shutting up shop and trying again
- Listen to your customer
- Swapping equity for marketing