Aiming for Gen Y and Gen Z in Malaysia, WOBB offers a platform for them to find job easier. The company has just announced that it raised $1.3 million fund.
The fund is part of a pre Series A funding round for the company. Cradle Fund organized and arranged the funding round. It is a non-profit organisation managed by Malaysian government. CAC Capital, Accord Ventures, and Actelerate International Group Ltd (AIG) participated in the investment.
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WOBB Malaysia: How it started
Derek Toh founded the company after he resigned from his previous job. During the two weeks of unemployed life, he found out that finding job is still difficult, especially for the youngsters who are fresh graduates. That’s just when he got the idea of a job seeking platform.
WOBB stands for ‘Working on Bean Bags’, a result of a few hours adjustment after the initial Red Panda name reminds him too much on Chinese foods. Since the beginning of the company, Malaysian government has been supporting it through Cradle Fund. Due to the company’s goal of making employments easier for the millennials.
Since then, WOBB Malaysia has been joining a partnership with worldwide companies such as Google and PayPal.
It was difficult at the beginning, though. Toh has to work by himself using the RM7000 he had. At the time, he did everything from interviewing employers, editing video, accounting, posting job, and even creating the web pages.
The money Toh had left did not even enough to rent an office. So his team had had to work from cafe to cafe. Storehub, a startup friend of Toh then offered the company’s meeting room for them to work on.
Now, as the company grew bigger and steadier, Toh also developed a bigger target for WOBB. He wants his company to be a leading company for youth in Asia. By minimizing unemployment in the region.
For it, the company will use the funding for further product development on their platform, Hiredly.com. WOBB Malaysia will also have their Series A going on next year.