Having co-founded the multi-billion dollar social networking platform Facebook, Eduardo Saverin may struggle to match the success in his subsequent business ventures.Founded in 2004, Facebook says it amassed more than a billion monthly active users as of December 2012. Nonetheless, he is giving it a shot, staking his claim as an Asia-based technology investor.
Aged just 30, Brazilian born billionaire Sauverin now bases himself in Singapore. He is a noted angel or early stage investor, particualrly focusing on local mobile start-ups. He noted that in terms of five to ten year investment horizons, China was appealing for investors due to its sheer scale, whilst Japan and South Korea were promising options due to their “more developed, robust, and monetizable markets.”
Refuting claims that he had relocated to the region for tax purposes, Saverin insisted that Asia held the biggest opportunities for entrepreneurs like him, adding that the move was “personal decision” that had nothing to do with money. “I don’t really look at money as something I need. I just want to be happy.”
He noted that in terms of five to ten year investment horizons, China was appealing for investors due to its sheer scale, whilst Japan and South Korea were promising options due to their “more developed, robust, and monetizable markets.”
At a press conference last week, an unusual step for the media shy Sauverin, he noted that, “Asia is, whether you look at Internet growth, mobile growth, it’s the centre in terms of where the user and consumer base will be in the future, so it’s phenomenal for me to come here and learn.”
As Singapore’s eigth richest resident, he is keen to emphasise that he is not looking to replicate the success of his first business partnership. “Every step of my life is not about creating a new Facebook or something new necessarily that goes and gets distributed to a billion-plus people,” he said. “It’s about making sure that what I do is fulfilling both to myself and others in the world.
