Charlie Lee is now on his second startup. With a mission of reaching one billion unserved people with fintech solutions, his venture has already raised $90M.
During our interview on the Dealmakers Podcast, Charlie Lee shared what to do when your industry stops growing and the art of the spinoff.
Plus, picking the best markets for your next business, and the business culture differences between the US, Korea, and East Asia versus India when growing a global business.
As well as his insights on managing your company culture and expanding your business in India.
Aspiring To Go Global
Charlie Lee is originally from South Korea, though has since become quite an international entrepreneur.
In college he chose to study international economics. While he loves his home country, he also recognized that it was pretty small in economic terms. He grew up always wanting to travel and explore the bigger economies out there.
He got that chance to study global business with his Master’s degree, for which he moved all the way to Chicago to attend.
Right after graduating with his MPA, Lee found himself with a job in the telecom business. Certainly a great sector to get your feet wet in international business.
Though even going into this career he knew he wanted to take up the challenge of starting something of his own.
He didn’t wait long to seize on the opportunity with his own venture Access Mobile. Access Mobile quickly began providing B2B services to 15 telecom companies throughout Asia, including Thailand and India.
Spin-Offs: What To Do When Your Industry Stops Growing
After a great eight-year ride, Charlie says that growth was slowing. Telecommunication companies were losing their power and grip. The rise of the smartphone certainly had a big hand in that.
The world was changing. From one which was very hard to market and get seen in, with big capital hurdles, to one where you could create a Google application, and benefit from their massive 99% market share.
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