Boost for BloomThis with its selection as Endeavor Malaysia company
By Digital News Asia June 24, 2022
- Aims to accelerate growth, leverage on technology, move beyond flowers
- Gain access to support services, introductions to local & regional mentors
In a time where consumers are demanding instant gratification, BloomThis, an on-demand gifting e-commerce company successfully reshaped and improved efficiency across the value chain for e-commerce.
With a 500% growth over the last two years, BloomThis delivered over 100,000 orders in the last 12 months. As they look into maintaining their growth momentum in 2022, they aim to replicate their operational blueprint in multiple cities in Malaysia before expanding regionally with the help of globally seasoned entrepreneurs, through passing Endeavor Malaysia’s Local Selection Panel (LSP).
Established in 2015, BloomThis, founded by Giden Lim and Penny Choo started off in an apartment where their fridge’s tenants were fresh flowers instead of food. The husband-wife duo observed many gaps in the florist industry from the boring floral designs, poor quality of products, poor customer experience, and unfavorable buying and delivery experience, demonstrating that this industry has seen very little innovation.
Through efforts to address these pain points, BloomThis leveraged on technology to scale and grow their products and services beyond just flowers, with on-demand deliveries within 4 hours.
BloomThis is also part of Endeavor’s ongoing ScaleUp Cohort 2 program launched in 2021. As the first company to graduate the program into the official Endeavor Entrepreneur track as an LSP candidate, BloomThis has not only demonstrated high growth, but has also gained traction, increased acquisition of customers and won multiple awards throughout their scaling journey.
“Ever since we participated in the ScaleUp Program, we’ve not only met great mentors, but also entrepreneurs who were willing to spend their time mentoring us, helping us weather through multiple challenges. It’s been a bumpy journey but as we scale BloomThis together with Endeavor, we aim to create more moments of happiness for more customers in Southeast Asia,” said Giden and Penny.
“Our vision is to deliver flowers and gifts across Southeast Asia within 1 hour to 1 million customers. We definitely have a lot more to do before we can blueprint our model in multiple cities and regionally, but the insights and feedback given by the network at Endeavor and panelists at the LSP have been extremely valuable and will help us focus our efforts in achieving expansion seamlessly,” they enthuse.
The LSP is the culmination of a rigorous merit-based selection process to ultimately
support high-impact entrepreneurs who dream bigger, scale faster and pay it forward to the next generation of entrepreneurs. For this session, we had Endeavor Mentors Gaurav Bhasin (Group Chief Strategy Officer and CEO Malaysia of Carousell Group), Loi Liang Tok (Head of Pizza Hut Malaysia) and Endeavor Entrepreneur See Wai Hun (CEO of Juris Technologies & iMoney) as panelists.
“Despite the market instability, BloomThis successfully achieved such amazing growth year on year because of their capabilities in building a great brand, and a technology platform that integrates the value chain to offer an excellent customer experience and drive executional excellence. On top of that, the core pillar of the business, the co-founders leading BloomThis are highly driven individuals, who are constantly innovating ways for the on-demand gifting experience.
“With the right focus and guidance from Endeavor, BloomThis would be able to scale faster, taking their business to the next level, locally and regionally,” commented Gaurav.
As part of Endeavor’s network, the newly selected entrepreneurs will gain access to comprehensive support services, including introductions to local and regional business mentors, and investors who will help them address key needs.
Since launching operations in Malaysia, Endeavor actively supports six companies, collectively generating US$318 million (RM1.4 billion) in revenues with 20,000+ jobs created.
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