Cambodia Investment Review
In episode 125 of the Rising Giants podcast, Samir Cherro, the CEO of GoWabi, sat down with hosts Max Thornton and Dominic Kalousek sharing insights into the company’s journey and his personal experiences in the tech industry across Southeast Asia. GoWabi, a leading application for booking health, wellness, fitness, and beauty services in Thailand, boasts a network of over 10,000 providers and offers a SaaS/CRM tool integrated with POS systems for optimizing and managing various service businesses.
Samir’s career began with Rocket Internet, where he worked in the Philippines for what would later become Lazada. Reflecting on this period, he described it as “very hectic and exciting with different things every day and a very work-hard culture.” He emphasized the learning opportunities, stating, “I learnt a lot from all the managers and spent three years there, which was incredibly educational.” Rocket Internet’s focus on building startups in various e-commerce models laid the foundation for his understanding of the digital marketplace.
‘Big Players’ Taking The Best Talent
Discussing the early wave of tech investment in Southeast Asia, Samir noted, “There was a lot of money going around, and people were getting funding based on basic decks. However, there was a lack of talent because the big players had the best people.” This environment shaped his approach to building GoWabi, which he co-founded to address personal service booking challenges in Thailand.
Samir explained that GoWabi started with the concept of finding personal services, their prices, reviews, and booking options. Over time, the platform expanded to include a wide range of services such as spas, massages, hair salons, and clinics. “We have had good customer feedback, with many thanking us for helping them with their services,” he said. However, he stressed the importance of their partners, adding, “It’s the partner services that are really keeping us going. We help them grow and expand, and they rely on us as their partner feeder.”
One of the challenges GoWabi faced was raising funding. Samir mentioned, “A few similar business models had already raised their capital with strong founding teams, and we came about six months after that.” Building trust with partners and finding good talent were also significant hurdles. “We constantly have to fight with the big players who have the best people,” he noted.
The company’s growth trajectory saw a significant boost during the COVID-19 pandemic. “We experienced strong growth post-COVID and expanded into new categories such as health services for the COVID vaccine,” Samir explained. GoWabi’s network now includes a variety of service providers, from small shops to larger enterprises. “We help these providers by offering data to help them expand, creating a win-win opportunity for everyone,” he added.
Investing Cities Similar To Bangkok For Expansion
Looking ahead, Samir discussed the potential for expanding GoWabi into other markets. “We have done a lot of investigation on cities similar to Bangkok, and Phnom Penh has come across our radar,” he said. However, he emphasized that their primary focus remains on growth in Thailand. “We last raised money two years ago and are now focusing on profitability. Achieving this is very important for our investors post-COVID.”
In addition to business insights, Samir shared personal habits that contribute to his success. “Fitness has been very important, as well as learning from YouTube to expand my knowledge,” he said. Goal setting and celebrating small wins are also part of his strategy. “Every 10 to 20 percent progress should be celebrated as a small win to keep you motivated,” he advised.
GoWabi’s journey, under Samir’s leadership, highlights the dynamic nature of the tech industry in Southeast Asia and the continuous evolution required to stay ahead in the market. With a strong foundation and a clear vision for the future, GoWabi aims to maintain its growth trajectory and expand its services to new markets.
