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In today’s rapidly evolving business landscape, the pursuit of growth and expansion has long been a hallmark of success. This has propelled countless enterprises to new heights, attracting investors, customers, and potential collaborators. However, a critical paradigm shift is taking place — one that emphasises sustainability over sheer speed. The era of prioritising short-term gains at the expense of long-term growth is drawing to a close as businesses begin to recognise the imperative of transitioning from a fast-paced high-growth model to a more sustainable one.
Sustainability in business cannot be overstated. It ensures the longevity of a company by adopting practices that support long-term viability and resilience. By prioritising sustainability, businesses can navigate market volatility, foster positive stakeholder relationships, and position themselves as robust and forward-thinking organisations in an ever-evolving business landscape, among others.
This has been one of the key things Rexy Josh Dorado, Co-Founder and President of Kumu, has learned when it comes to his business approach.
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“When you shift from a time of market exuberance to one of crisis, the priority shifts to different things. Profitability over aggressive growth; enduring impact over immediate wins. Going slow and steady can seem like a mistake in a bull market — and it might be when all of your competitors are operating in full gear with endless resources. But for us, we’ve found that we actually thrive most as a team when we can focus on what matters, build on a sustainable foundation, and make choices that optimise for the long-term mission rather than the next-year window,” shared Rexy.
A Filipino brand built to last
Kumu is a live-streaming app built for GenZ and Millennial Filipinos. Their Social TV, virtual gifts economy, and live commerce platform empower thousands of Filipino content creators around the world. Their app has been downloaded in over 55 countries and has over 10 million registered users since launching in August 2018.
The social media platform aims to amplify Filipino creativity, storytelling, community-building, and commerce. They have also ranked as the highest-grossing social app in the Philippines in both the Google Play and App Store.
Leading the pack is Rexy Josh Dorado. As Co-Founder and President, Rexy has led the company to seed, Series A, Series B, and supported Series C deal processes to raise over $100m USD in total; supported growth efforts to reach over 10 million registered users; built and managed financial model and business plan prior to hiring of CFO; drove corporate restructuring initiative alongside key investors and stakeholders; and managing long-term roadmap and strategic partnerships.
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Before Kumu, Rexy founded Kaya Collaborative, a program that connects Filipino diaspora leaders to high-impact organisations in the Philippines, and supported global entrepreneurs through roles in Ashoka and Endeavor. He is passionate about unlocking the creative and economic force of the global Filipino community.
Like many founders, Rexy has big plans for Kumu. “We’re not fully there yet, but we’ve made huge strides towards getting back to profitability as a company this year. With infinite runway and enough resources to invest in growth opportunities, we can begin to invest deeply with a long-term timeline in mind–and a long-term ambition of building Kumu as the best platform and ecosystem for Filipino creators and communities,” he shared.
With an emphasis on sustainability, Rexy believes that the key to unlocking Kumu’s maximum potential is through a mindset reorientation. “The biggest thing for us was grounding ourselves again in what matters long-term, giving ourselves permission to orient the company towards a win that will take years, not within 18 months after a raise,” he added.
Challenges and forging ahead
It hasn’t exactly been an easy year for Kumu so far. Grappling with declining users and rising competition, among others, the social media platform underwent downsizing efforts in its team. “We’re still a small fish in a big pond, and we compete, if nothing else, on time and attention span with companies that are worth hundreds of billions of dollars. That means that victory for us will rely on the things that we can do but they cannot: a deep focus on Filipino communities, opportunities that are small to a Meta or Bytedance, but for us, provide a sustainable base on which we can grow,” explained Rexy.
He added, “[We are] particularly interested in how we can deepen our engagement with communities that have been cornerstones to Kumu: more features and revenue streams for our professional creators, our global Filipino base, and highly passionate communities around things such as volleyball, music, and the ACGN market (anime, comics, gaming, and novels), among others,” underscoring the importance of investing in communities that have helped build the brand from the ground up.
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As Kumu aims to concentrate its efforts on Filipino storytellers, the company hopes to cultivate and grow new business models, formats, and initiatives that engage the broader base of Filipino creators.
Discussing more of Kumu’s future growth plans and lessons from his experiences as Co-Founder and President, Rexy Josh Dorado will be joining this year’s Echelon Asia Summit for a fireside chat on “Growth Lessons: The Ups and Downs of Building a Consumer Growth Stage Company”. The session will be moderated by e27 Co-Founder and CEO, Mohan Belani.
Echelon Asia Summit 2023
Get to know Rexy and other industry experts at this year’s Echelon!
Echelon Asia Summit 2023 is happening on 14-15 June, at the Singapore EXPO. Featuring a slew of speakers, exhibitors, business matching sessions, pitching stages, and more, the event enables participants to connect, network, and engage with the larger tech startup ecosystem.
At the Echelon Asia Summit, participants get the chance to attend a diverse range of sessions, including keynote speeches, panel discussions, and workshops, all exploring exciting topics like AI, blockchain, e-commerce, fintech, and marketing. You’ll also have the opportunity to join networking sessions and meet-ups where you can connect with fellow entrepreneurs, investors, and industry leaders.
To learn more about Echelon Asia Summit 2023 and sign up for the event, visit the official page here.
The post Echelon: Achieving a sustainable model according to Kumu appeared first on e27.