{"id":3641,"date":"2022-10-14T08:31:38","date_gmt":"2022-10-14T00:31:38","guid":{"rendered":"https:\/\/dailymarkup.com\/?p=3641"},"modified":"2022-10-14T08:31:39","modified_gmt":"2022-10-14T00:31:39","slug":"daily-markup-610-why-lottiefiles-chose-to-set-up-in-malaysia-how-the-team-secured-100k-clients-globally-and-more-from-this-week","status":"publish","type":"post","link":"https:\/\/dailymarkup.com\/?p=3641","title":{"rendered":"Daily Markup #610: Why LottieFiles chose to set up in Malaysia, how the team secured 100K+ clients globally, and more from this week"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh4.googleusercontent.com\/57nB45sc-r_fom9yEOAsV-TW5bZQnYO3BczHvAUF-YSTedLOKDquTmSxt6wjhLmkY787h0QEkrRZdfDKEqV4u4lo6QyhJWn6dVK9Oxy5fHeOVvjewg9Z4FpfW9LZgADSGtUsOZDyi-m9x3SRee089JMaUsRgCVnLIs_0ZuZ0V25qJlIMxGs01xk-\" alt=\"\" \/><figcaption>Credit: VulcanPost<\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Tip the scales in your favor<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>For a 5-year-old company, animation platform <a href=\"https:\/\/lottiefiles.com\/\">LottieFiles<\/a> has recorded some impressive feats. The team was first funded by 500 Global, went on to raise US$9M in a round led by Microsoft during the pandemic, and then a further US$37M for its Series B. Last year, the company even acquired an Indian design asset marketplace.<\/li><li>Fast forward to today, LottieFiles has at least 135,445 companies worldwide using their animations. This is a testament to how the team has truly simplified motion graphics for any platform.<\/li><li>So it is no surprise that Co-founder &amp; CEO Kshitij Minglani, or simply, K, was invited to the Wild Digital SEA 2022 stage <a href=\"https:\/\/bit.ly\/3rOeCWy\">to share how the team scaled a Malaysian-based company globally<\/a>. He does this while posing questions that every entrepreneur should ask themselves to build a successful business.<\/li><li><strong>Where does profit lie?<\/strong> Lottie files analyzed SpaceX and fellow 500-backed Carsome\u2019s business models, and figured out that the profit is in monetizing the workflow of animation.&nbsp;<\/li><li><strong>What is your product-market fit? <\/strong>According to K, every startup must know the answers to these questions: (1) How often does the customer come back? (2) How much does the customer spend with you? (3) How often and how much does the customer come back to spend on you?<\/li><li><strong>How difficult is it for your customer to jump ship?<\/strong> K shared that a startup\u2019s ability to maintain a competitive edge will help fend off competition and maintain profitability. The key here, he added, is that a company must do this sustainably.<\/li><li><strong>Who are your true competitors?<\/strong> Spoiler alert: It isn\u2019t another company that does what you do. For LottieFiles, he said, \u201cOur true competition isn\u2019t sitting in China or India, it is the difficulty of the task.\u201d<\/li><li><strong>Where can you find an advantage? <\/strong>K believes it lies in Asia. \u201cLook at the map. Where are the super apps today?\u201d he posed. The region brings with it cost effectiveness, cultural diversity, and a strong sense of community \u2014 all of which led to the team deciding to set up in Malaysia.<\/li><li>Learn more on <a href=\"https:\/\/bit.ly\/3rOeCWy\">VulcanPost<\/a>.<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Stories you may have missed this week:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Tatler Asia Gen.T List 2022 is out! 9 leaders from <a href=\"https:\/\/bit.ly\/dailymarkup606\">500-backed companies honored for shaping Asia\u2019s future<\/a><\/li><li><a href=\"https:\/\/bit.ly\/dailymarkup607\">YAS<\/a> secures US$4.5M to provide more Web3 insurance coverage; eyes Middle East expansion<\/li><li><a href=\"https:\/\/bit.ly\/dailymarkup608\">eFishery<\/a> reels in US$32M loan from Bank DBS Indonesia; aims for 300% increase in production &amp; expansion to 10 countries<\/li><li><a href=\"https:\/\/bit.ly\/dailymarkup609\">Vishal Harnal<\/a> on Tatler Asia \u2014 trends guiding his next investments, must-have qualities of VCs, and failure<\/li><li><a href=\"https:\/\/bit.ly\/3S5iZra\">Neuron Mobility<\/a> launched their first ever Global Hackathon, where students are invited to create an algorithm to optimize rental e-scooter and e-bike services.<\/li><li><a href=\"https:\/\/bit.ly\/3rOZV5s\">SwipeRx<\/a> and FIND teamed up to improve pharmacy access to quality-assured COVID-19 tests in Vietnam.<\/li><li><a href=\"https:\/\/bit.ly\/3D2xLux\">EST Studios<\/a> partnered with China\u2019s Hugoeast for an initial slate of eight projects.<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Tip the scales in your favor For a 5-year-old company, animation platform LottieFiles has recorded some impressive feats. The team was first funded by 500 Global, went on to raise US$9M in a round led by Microsoft during the pandemic, and then a further US$37M for its Series B. Last year, the company even acquired [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":3642,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","footnotes":""},"categories":[322,319],"tags":[428,382,351,504,420,531,356,501,500,524,361,547],"class_list":["post-3641","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily","category-weekly-roundup","tag-appboxo","tag-curlec","tag-efishery","tag-est-studios","tag-lottiefiles","tag-mapan","tag-neuron-mobility","tag-parcel-perform","tag-peddlr","tag-swiperx","tag-una-brands","tag-yas-microinsurance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Daily Markup #610: Why LottieFiles chose to set up in Malaysia, how the team secured 100K+ clients globally, and more from this week - Markup<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dailymarkup.com\/?p=3641\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Daily Markup #610: Why LottieFiles chose to set up in Malaysia, how the team secured 100K+ clients globally, and more from this week - Markup\" \/>\n<meta property=\"og:description\" content=\"Tip the scales in your favor For a 5-year-old company, animation platform LottieFiles has recorded some impressive feats. 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