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Home vacation rentals startup Luxstay secures US$3M bridge round funding

The Vietnamese startup nabs the round called bridge round from CyberAgent, Y1 Venture, and others

Vietnam-based rental sharing startup Luxstay has raised US$3 million in a bridge round from Japan-based CyberAgent Ventures (CAV), Y1 Ventures and some other investors. This round made for CAV’s second investment after it added an undisclosed amount to the US$2.5 million pre-Series A round led by Genesia Ventures in early 2018.

CAV is said to be a key player in guiding Luxstay as a startup company to structure itself internally and raise investment in this round of funding.

Also Read: Pre-seed accelerator Founder Institute invites applications for Kuala Lumpur 2019 programme

Luxstay describes its service as an online platform that connects owners of accommodations such as apartments, vacation villas, homestay looking for short-term rentals with tourists or business travelers. Luxstay has specified its network serving the mid-end to high-end segment.

It was founded in 2016 by Nguyen Van Dung and claims to have a network of 10,000 homes in the country to date.

Taking sharing economy that will affect the tourism and real estate markets into account, the statement by CyberAgent Ventures’ investment director for Vietnam and Thailand Dzung Nguyen expresses its support to Luxstay’s business model.

“We believe that this business model, like Luxstay, is working as intended and can be a game-changer in its market in the near future. It brings a great source of income to homeowners, and also takes advantage of the available properties,” said the statement.

Also Read: Singapore’s e-scooter startup EuroSports secures US$1.5M from its parent ESG

The most recent collaboration Luxstay has embarked on was with Japan’s Rakuten LIFULL STAY. The partnership resulted in Rakuten LIFULL STAY providing its inventory of the Japanese vacation rental properties listed on its site under ‘Vacation STAY’ to Luxstay, and vice versa.

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6 ways to grow a thriving Telegram group

Besides the basic functionality, there’re also a lot of features that make it easy to form communities on Telegram

Telegram is amazing. More and more people use this instant messaging app every day, and there’s no stopping to its increasing adoption.

Besides the basic functionality, i.e. chatting, there’re also a lot of features that make it easy to form communities on Telegram. For example, you can pin important messages, and the maximum number of members you can have, at this time of writing, is 75,000!

Currently, there are all kinds of Telegram groups catering to different audiences, be it a small group project, interest groups, or even crypto communities. However, growing a group from scratch and ensuring that your group continues to thrive is a challenging affair.

Also Read: Empowering the community: A look back on what e27 has been up to in 2018

We get it, since we’ve grown our very own Telegram meme group to 13,000 members in the short span of four months. In this article, we share several tips to help your Telegram group thrive.

1- Understand why people join your group

For our group, the reason why members were in our group in the first place was a simple one — they simply wanted to enjoy memes.

In general, it’s important to understand why your members are in the group, as it will help you tailor your message. Not understanding this, your group will lead to slow growth at best, and people leave your group at worst.

Take some time to understand the needs of your members, and the types of content that they want to see in your group.

2- Set ground rules

When our group first started, there were no rules as members were already friends and had mutual understanding. However, as the group scaled, it was important to set ground rules. In the early days of the meme group, there were three main problems:

  1. Unacceptable photos were shared — this included gore and material of adult nature
  2. Long stretches of messages without any memes shared
  3. Members receiving unsolicited messages from other members in the group

Members began leaving as these things did not align with what they wanted — to simply enjoy memes. To address this, the admin team set ground rules to curb these behaviour.

For example, admins regularly reminded members that they should be “more memes less talk”. Those who broke rule-3 were named and shamed, followed by expulsion from the group.

The ground rules reduced incidents of the three issues and subsequently reduced attrition rate. Publicising the admins’ decision was helpful as it sent a signal to members that we were serious about our rules. Other than keeping the channel as friendly as possible, it also served to deter future offenders.

3-Have an effective team

We were fortunate to assemble a team of passionate admins who were invested in growing the meme group. Our campaigns ran smoothly because the admins are aligned and ensured that things were executed.

Ensuring that admins were available at all times to monitor group activity is important as well, to avoid members breaking rules.

4- Communicate, communicate, communicate

Broadly speaking, communication is absolutely important in maintaining and growing a thriving community. Since your members are the biggest stakeholders in your community, their opinions do matter. As such, listening to your community can also prove to be valuable. One effective way is to take in relevant feedback and adapt their words into your strategies.

Firstly, there is communication to get a community’s opinion. This involves interacting with the community as a whole. It ranges from a simple message in the group to more sophisticated ways like using a bot to conduct polls.

Secondly, there is communication to get feedback. In contrast with communicating with the entire community, there’s also engaging individual members for feedback. We reach out to group leavers regularly to understand why they left. This allowed the admin to tweak our rules and messaging in the group.

Also Read: A quick look at the state of Southeast Asia’s tech ecosystem in 2018

In addition, reaching out to leavers has an unexpected effect — there are those who come back after being individually engaged. Is it scalable? Not immediately, but it’s nonetheless important as reconverted members are stronger supporters than before.

It is also important to communicate your decisions to the entire group, be it in the event when community rules are flouted or thought-processes behind the admins’ actions.

5- Use analytics

Telegram is an amazing messaging app not just because it supports large groups, but the team also built a suite of application programme interface (APIs) that allow us to draw data to perform analytics. We developed in-house analytics capabilities to monitor our group growth.

Utilising analytics also helped us in identifying our key target audience and keeping content relevant to this age group. It was also easier to set goals for upcoming campaigns.

Over time, community managers or admins can intuit who are strong supporters in the group. They are individuals who consistently and frequently active, and are usually the first to engage the admins over issues.

In our case, we identified key members who were consistently contributing to the group using analytics. Engaging them helped maintain consistent levels of user-generated content in the group while encouraging new members to contribute.

6- Incentivise key members

From time to time, our group also organised contests to engage the community. These contests ranged from spurring members to create their own memes, to encouraging them to invite as many friends as possible to join the group.

Top contributors will then be rewarded for their efforts in helping to strengthen community bonds. Incentivising our members will help to foster a sense of loyalty in the community and engaging with the community as a whole. This is also a way to show gratitude to members for reaching and exceeding goals – be it membership, or simply strengthening community bonds.

In our case, recognition given by admins to members is also key in spurring more user-generated content from our members. Admins would then choose their favourite original meme in a bid to commend our members for their effort.

Recognition as an incentive helps us to retain our members by making them feel cared for. Productivity also increases, i.e improving the quality and quantity of memes posted.

A game of patience, love and strategy

Growing a Telegram community is a long-term effort, involving a lot of investment in time and communication. While growing a group into a thriving one might be daunting to begin with, the rewards are amazing when your efforts strengthen the community and members are aligned and have the same levels of passion for the subject.

Your community needs to grow at a manageable pace and in an organic way. As community members interact around shared values, community cultures will begin to form and that is when a group starts to thrive.

To Si Ling is Co-founder of MnD Analytics.

e27 publishes relevant guest contributions from the community. Share your honest opinions and expert knowledge by submitting your content here.

Photo by Christian Wiediger on Unsplash

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Mobile-focussed recruitment platform GrabJobs raises US$930K

The company plans to use the funding for the development of the machine learning in its chat bot

Singapore-based GrabJobs, entry to mid-level focussed job platform, has announced a total of US$930k seed funding just in 2018, bringing total funding to over SGD$2.5 million (US$1.8 million).

The company said that it will focus on product development and platform improvements, including the integration of Natural Language Processing (NLP) and Machine Learning technologies into their signature interview chat bot. The latter is a project run in partnership with Mr. Erik Cambria, Associate Professor in Artificial Intelligence at NTU.

Also Read: Home vacation rentals startup Luxstay secures US$3M bridge round funding

Some new features that the company has introduced:

• An omni-channel web-based interview chat bot, in addition to an in-app chat bot

• Automated multi-channel job posting

• Automated Interview Scheduling and Interview Reminders to improve applicant show-up rates

• In-store interview kiosks

• A web-based version of the job portal

In addition to these features, GrabJobs plans to launch a product feature that will support job seekers for high-volume recruitment jobs, such as retail and F&B services with no-CV application feature. GrabJobs believe that it allows users to apply for jobs quickly, without the need to create and craft a CV, supported by chat bot that will expedite the interview and screening process.

About the plan, CEO and Co-Founder Mr. Emmanuel Crouy said, “In 2019, we will be expanding outside of our current markets in Southeast Asia by partnering with regional job sites to provide our services to recruiters in the region.”

Also Read: Grab ordered to pay US$208K to Vietnamese taxi firm Vinasun in lawsuit

GrabJobs claimed to be the cost-effective recruitment solution that automates the traditional toll of sourcing, screening and interviewing candidates.

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