Partying the millennial way with MYCN
By Digital News Asia May 3, 2019
- App is at its final stages of development and is expected to go live in June 2019
- Aims to enhance, improve nightlife experiences for patrons and entertainment outlets
MALAYSIA Club Network or MYCN, Malaysia’s first mobile application platform which makes having a night out on the town easier and more convenient by connecting patrons with venue operators, has launched an equity crowdfunding campaign (ECF) on Ata Plus, a registered recognised market operator by the Securities Commission Malaysia (SC).
MYCN is raising US$24,173 (RM100,000) on Ata Plus. The funds raised will contribute to the business’ growth and expansion plans as it aims to enhance and improve nightlife experiences for both patrons and entertainment outlets with technology.
MYCN, co-founded by a group of friends, aims to change the way party-goers plan and experience a night out, as well as how entertainment merchants track and handle patrons via a highly collaborative platform.
The app allows nightlife patrons to not only book and choose tables at the latest hotspots in cities across Malaysia, but also purchase food and drinks in advance. Some of the additional features include bill-splitting and guest list reservation for big groups, thus enabling a hassle-free night out.
A survey conducted by MYCN of 1,500 individuals aged between 21 to 30 showed that 69.08% would prefer to use a mobile application for their nightlife bookings, with 58.9% citing long queues and traditional forms of reservations as major irritants.
On its launch, the app will offer a variety of features such as a ticketing system using QR codes, which will allow users to purchase and enter designated nightlife establishments hassle-free. Patrons can also seamlessly order and purchase food and beverages in advance as well as search through a range of deals and special offers.
An integration with other social media platforms such as Facebook, Instagram, Twitter, LinkedIn and YouTube, enables both users and merchants to share information on upcoming events. The app is at its final stages of development and is expected to go live in June 2019.
“Not only is the app convenient and free for patrons, for merchants, it will mean they can process more orders, capture missed sales, create brand awareness and increase their sales based on the data collected by the app. Our aim is to mitigate the fear of partygoers of having their reservation dishonoured or cancelled at the last minute by their preferred nightlife establishments,” says MYCN co-founder and director Terrence Leow (pic).
The funds raised in MYCN’s ECF investment round will be used for app development and maintenance, as well as the working capital and operations of the company.
“MYCN is the solution to the current problems faced by the nightlife industry. This app will bring much-needed relief to this sector for both patrons and establishment,” said Ata Plus co-founder and director Kyri Andreou.
“Our equity crowdfunding platform mission is to assist innovative businesses such as MYCN, whilst giving investment opportunities for the man in the street in companies with huge potential,” Kyri added.
For more information on the company and the investment details, please visit https://ataplus.com/deals/mycn.