Category: Sugarbook

Sugarbook – Malaysia’s First Sugar Dating App

Posted on February 14, 2019

Sugarbook profileENTREPRENEUR – Feb 14 – Darren Chan is the founder and CEO of Malaysia's first and only sugar dating platform Sugarbook. Before, he founded Gigfairy, Malaysia's first live music booking platform, which later got acquired by Tune Studios of the AirAsia Group. According to Chan, sugar dating is a modern kind of dating. The app claims 300K members from 60 countries, predominantly from Malaysia, the US, Singapore and the Philippines. ~70% of the members are student "Sugar Babies" from universities, single mothers and divorcees. "Sugar Daddies" range between the age of 30-55, with an average annual income of $150K to $300K. Sugarbook has recently raised a six-digit figure from an undisclosed benefactor. Chan was bootstrapping from the beginning and it took him over four months to be able to pay his first hire.

by Pooja Singh
See full article at Entrepreneur

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Malaysian Dating App Sugarbook.com Raises Seed Capital

Posted on February 4, 2019

Sugarbook profileDEALSTREET ASIA – Feb 4 – Malaysia-based "Sugar Daddy" dating app Sugarbook.com has raised a six-digit seed round from an angel investor. The angel investor comes from an investment banking background from a Hong Kong VC firm. According to Sugarbook, the proceeds will be used to scale and develop its product and infrastructure. Founded in 2017, Sugarbook has 300K members across 60 countries including Malaysia, Singapore, the Philippines and the US. The company generates revenue from monthly subscriptions and packages for sugar babies and daddies.

by Kristie Neo
See full article at Dealstreet Asia

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This post also appears on InternetDatingInvestments.com

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In ‘Sugar Dating’, Sex Is Optional, Says Sugarbook Creator

Posted on July 23, 2018

Sugarbook iconMALAY MAIL – July 19 – Darren Chan, the Malaysian creator and CEO of Sugarbook, wants to make it clear that his dating app is not a platform for prostitution. "Sugar dating is about saying what you want in life and not being afraid to say it," Chan told Malay Mail in a recent interview. Chan claims Sugarbook has 200k members across Malaysia, Singapore, Hong Kong, the US and Thailand to date. He elaborated that 70% of members are what he called "sugar babies". The start-up is looking to expand into China and Japan next and is seeking funding. In February, Sugarbook attracted the attention of Singapore's Minister for Social and Family Development Desmond Lee, who said the police will keep a close watch of the dating platform and its users.

by Melanie Chalil
See full article at Malay Mail

Summarized by the IDEA team