He came, he spoke, he conquered. At the Founder Institute event last February, Nico Jose Nolledo was they keynote speaker everyone came to hear. Nix to friends, is the President and Chief Executive Officer of Xurpas, Inc., a mobile content and services provider he founded 13 years ago. In December 2014, Xurpas became the first tech company to list its shares in the Philippine Stock Exchange.
While a landmark on its own, Xurpas broke all records, becoming the first IPO to open at ceiling price, and ‘with the lowest value turnover’. Stocks were at double the price on opening day, yet investors refused to sell. News reports told of shares at 5.95 having bids for 127.73—with still no sellers. This makes Xurpas’ shares six times over-subscribed during the IPO period.
Instant billionaires Nolledo and co-founders Raymond Gerard Racaza and Fernando Jude Garcia each gets a 26 percent stake equivalent to P1.7 billion worth of shares with Xurpas’ market capitalization at P6.8 billion—many times their initial capital of P62,000.00
At the Founder Institute last February, Nolledo was a keynote speaker. Here are some brain-pickings.
1. It is now a mobile first strategy. The way people express on mobile makes it the fastest interface.
2. The consumer experience is: Discover, Buy, Consume, and Share. On mobile, all four points happen in just 10 minutes. The gap between interest and purchase has become shorter.
1. Build something that people will jump through hoops for—then remove the hoops.
2. Go for the small space. Own it, then expand.
3. When you are small, 99 percent is hard work. But, in order to scale, you need 99 percent genius.
4. Shared value is very important. One of the benefits of being an entrepreneur is that you can choose your partners.
5. When hiring, go for those with character, then train them for the skills needed.