Paul Yang is a man with many talents.
A self-effacing passionate musician, he gained a flying license and even considered becoming a commercial pilot.
However, his ambition was to be a cameraman. The main film director was the owner of a videography company and shot commercials early in his career.
As a creator, he has always been interested in exploring the many ways in which emerging technology and art can merge, which led him to create Lomotif application.
“I wanted to create a platform that provides artists with tools that can make it easier to create quality videos, while increasing their skills and helping them capitalize on their talent,” Paul said.
When he studied communications and new media at the National University of Singapore, he also designed games at the Massachusetts Institute of Technology (MIT).
“My passionate interest and expertise in creating videos and designing games made me become a product designer. In addition to conceptualizing the Lomotif application, I wrote the code and created the logo, ”he added.
An application that rivals TikTok?
Founded in 2014, Lomotif was created to take advantage of the growing demand for online content, which has become increasingly popular among Generations Z and millennials.
“Lomotif is a short-format social networking platform for video sharing that aims to democratize video creation and sharing,” said Paul Yang, founder and CEO of Lomotif.
“Allows users to create, share and watch short music videos with friends and has patented technology for mixing and editing videos.”
Basically, creators can create, plan and create videos using a single application.
Asked if it was correct to call Lomotif a TikTok rival, Paul actually said that they are technical competitors because they both operate and operate in the same industry.
“But there is no quarrel with the brand,” he stressed. “The industry is big enough that we can all coexist.”
Nonetheless, he is proud that Lomotif has been recognized as “a strong rival to TikTok and Kuaishou in many international markets.”
So, what makes Lomotif unique from other video editing and sharing apps?
Lomotif’s greatest strength comes from its tools and technology. Creators of all shades – from nano creators to top celebrities – used Lomotif to share their unique stories in interesting and different ways.
We were lucky that our functions and tools were so highly valued, which led to organic growth and increased reach, without spending money on customers.
– Paul Yang, founder and CEO of Lomotif
According to Paul, celebrities like Alicia Keys, Luh Kel, Sheff G, among others, used Lomotif as a platform to organically connect and interact with their fans.
“Music record labels like Empire and Cinematic have welcomed the responses of their artists on our platform. Our Remix feature, our atomic piston strategy, our deep connection to the communities in which we are present make us separate from others, ”he added.
Lomotif recently teamed up with LiveXLive to broadcast their Annual Global Music Festival – Music Lives 2021, which includes a massive lineup of uninterrupted live performances by global icons such as Pitbull, John Mayer, Wiz Khalifa and the Zac Brown Band.
The partnership is the first time that a concert or event of this scale has been broadcast live to an audience in a vertical video format.
“Given the ease of natural video recording and viewing on a mobile device in vertical format, with no additional steps to rotate it and so on, we believe vertical will be the video format of tomorrow and optimize our tools to improve it for a seamless user experience,” he said. is Paul.
Surfing on the couch in San Francisco for 2.5 years
The initial prototype of Lomotif was developed with several others in the technology start-up ecosystem BLOCK71 in Singapore.
The team later decided to take the idea abroad to San Francisco – what was originally supposed to be a one-month trip, instead became 2.5 years.
I spent more than two years on the couch surfing in San Francisco, talking directly to customers and personally tweaking the product to benefit them more, while looking for investors who were more receptive to bold and innovative ideas like ours. Without the many risks we have taken, Lomotif would not be where it is today.
– Paul Yang, founder and CEO of Lomotif
In 2016, Lomotif became the first non-Stanford local startup to be accepted into StartX, the accelerator behind Stanford University. They competed with students like Harvard, Stanford and MIT, which forced them to “set a higher ladder” to succeed.
Paul declined to comment on funding data, but shared that Lomotif has seen growth in terms of global attractiveness and user reach.
“In the last three years, Lomotif has become one of the fastest growing video sharing platforms on social media,” Paul said.
“Since our launch, we have increased the average monthly community by over 400 percent. Marking the milestone, we are witnessing more than 10 billion atomic clips (user-generated content) that were further used to create over 740 million videos on the platform. “
The platform also collected 120+ million total creators and 300+ million video views on the platform per month.
Although many companies suffered during Covid-19, the pandemic presented Lomotif with a silver lining, with the short video industry growing at an unprecedented rate.
“In the world of the first video, something that was originally appreciated only by Gen Z, is now starting to be adopted by more people from generations and from different cultures,” Paul noted.
Despite his successes, Paul acknowledged that building a social media company is a challenge in a market like Singapore, which has been slower to adopt new media technologies and trends, compared to markets like Brazil or China.
Lomotif was recently sold for 125 million US dollars
Global media and entertainment company ZASH recently announced the purchase of a a majority controlling stake of 80 percent in Lomotif.
ZASH co-founders include Ted Farnsworth, financier and former president of MoviePass; early investor Musical.ly (now TikTok) Jaeson Ma; and early visionary and board member of Thriller, Vincent Butta.
It is reported that he will pay approximately $ 125 million per stake, which marks one of the biggest outings of local technology startups in recent years.
However, Paul remains closely linked to the financial details as the acquisition process and legality are still ongoing.
The Lomotif deal will be concluded at the same time as the closure of ZASH’s merger with NASDAQ-listed Vinco Ventures, a merger and acquisition company focused on digital commerce and consumer brands.
Asked about the changes after the acquisition, Paul said there won’t be much change in terms of work processes.
I will continue to run Lomotif, but now with the purchase this opens up more international markets for which we can expand.
This acquisition also helps us invest in promotional activities – something that will be new to the brand as our growth is largely driven by word of mouth from our customer community.
– Paul Yang, founder and CEO of Lomotif
With the purchase of ZASH, they are the only short video platform from the NASDAQ: BBIG list, which means that North America will become their key growth territory.
According to Paul, Lomotif already has a significant presence in Brazil, the West African region and Russia.
He is also looking to further expand Lomotif in Latin America, South America and Europe as he sees huge potential in these regions in a short consumer-driven video format.
In addition, with strong followers of Lomotif in Asia, it will also continue to strengthen its presence here, with a strong emphasis on India and then Indonesia.
For its next phase of expansion, Lomotif is working to enable creators to distribute and monetize their original content through streaming channels with revenue-sharing options.
Lomotif has always been “ongoing” from the start, Paul said.
“The only mission that remains consistent is our support for our creators. We started by empowering them with patented tools for authors to create content within seconds, and we expanded to allow them to present their creations and connect with other creators. “
Credits for featured images: Lomotif / Alamy Stock Photo