Allen Lau is the co-founder and CEO of Wattpad, a service that empowers people to discover and share their stories regarding their passions. Wattpad stories range from science fiction to romance and everything in between. Entertainment companies are now partnering with Wattpad to transform stories into films, books, and TV series.
Before launching Wattpad, Allen Lau was a co-founder and seller of a mobile advertising company named FeedM8. Earlier, he co-founded Tira Wireless, where he assisted top-notch brands in streamlining content for mobile delivery.
A Brief about Allen Lau
Apart from being a leader and a visionary serial entrepreneur in the Canadian tech community, Allen Lau is also a featured speaker and an authoritative voice on entrepreneurship, the benefits of a diverse workforce, and the innovation economy. Being the co-founder and CEO of Wattpad, based out of Toronto, he leads a global team with an inspiring vision to use breakthrough technology to transform the way entertainment creates and produced while empowering different voices.
Under his leadership, Wattpad grew to a community of a whopping 94 million people who have penned over a billion uploads on this robust platform. In addition, thousands of stories on Wattpad have been embraced for other platforms, becoming #1 Netflix hits, blockbuster movies, best-selling books, and Emmy-nominated TV series worldwide.
Through his leadership and innovative thinking, Allen Lau has raised $120 million from leading VCs in New York, Silicon Valley, Asia, and Canada. In the year 2021, Wattpad was obtained by Naver, the South Korean internet agglomerate, in a transaction that was valued at over $600 million.
That very year, Allen Lau was invited to serve on the board of directors of the TIFF (Toronto International Film Festival), a cultural organization to change the way people generally see the world via films. Allen Lau brings his experience and unique perspective to support and strengthen TIFF’s mission as a board member.
Allen Lau – A Visionary Serial Entrepreneur to Watch Out For! Share on XIn addition, Lau joined the MaRS Discovery District as one of the board of directors, which is North America’s biggest urban innovation center. Being a board member, He partnered with MaRS to support high-growth startups and scale-ups to power cutting-edge discoveries.
Allen is a leader in the technology sector and startup ecosystem of Canada and a member of the Canadian Council of Innovators, a lobby group advancing the interests of Canadian tech companies at every level of government.
Allen also co-founded the Two Small Fish Ventures, a fund investing in Toronto and Waterloo-based early-stage Internet companies with robust network effects. He received his Bachelor’s and Master’s degrees from the Toronto University’s Electrical Engineering Program. In 2020, Allen was inducted into the University of Toronto Engineering Alumni Hall of Distinction. In addition, Allen was named twice by Toronto Life as one of the Top 50 Most Influential People.
Why Did Allen Launch Wattpad?
In the beginning, there was an idea. In 2002, Allen wanted to develop a mobile reading application for himself since he was busy and wanted to take his reading material with him. But his phone was slow and used to lag often, and he didn’t pursue the idea. When the mobile phone features got better in 2006, he revived the idea and coincidentally, his Wattpad co-founder, Ivan came up to him with the same idea unbeknownst to them. When they discovered this overlap, it made sense for them to shake hands and launch a company together.
Today, Wattpad helps storytellers find their audience and helps them to potentially make a living out of it; and also helps audiences find good stories, and that too for free. Several people don’t have access to penned work since they can’t afford it. So Wattpad delivers something very meaningful, changing the lives of storytellers and audiences.
After 15 years, Wattpad is a leading cross-platform entertainment machine that publishes user-generated authentic and genuine content, often finding a second life in TV series, films, and books. After being taken over by Naver, the South Korean Internet company, Wattpad is finding fresh synergies. Combined, Wattpad and WEBTOON, a division of Naver dedicated to animation and comics, presently reached over 160 million monthly viewers worldwide. Allen Lau has successfully turned Wattpad into a sustainable business while remaining true to its purpose.
About Allen’s Journey to Become the CEO of Wattpad
I’m the CEO of Wattpad. He always wanted to create and build something. He founded two companies before starting Wattpad. He also worked for an incubator.
The Wattpad prototype (app) grew into a product, the product grew into a company, and the company grew into a business. The journey from Founder to CEO is different. Allen believes that founding a company is different than running a company.
Allen’s Pieces of Advice to Future Generations
Allen Lau believes people don’t iterate fast. They get stuck in an idea for a long time. He believes ideas aren’t just the only thing; people need to turn their ideas into reality and make things happen. If people have a daring idea and believe they can add value to their lives, they need to execute it.
For more information regarding Allen Lau and Wattpad, you can scroll through their official website.
