"When we first started, we had one integration, which was Airbnb, but along the way, we integrated multiple different solutions onto our platform, similar to how Apple created the App Store for their phone. With one lock, we now have an app store called Igloo Connect featuring more than 500 integrations. Once you install the smart lock, you can remotely connect to Airbnb to rent your property, an elderly care provider to deliver medicine, or a handyman service to repair your air conditioning. You can choose any of these connected solutions already integrated into our platform, which creates a flywheel for growth and provides the best value to every device owner." - Anthony Chow, Co-founder and CEO of Igloo" - Anthony Chow
"With every challenge, there's a bit of opportunity, and in 2021, the silver lining was receiving numerous inbound inquiries from the US. We realized there was a massive shift due to the work-from-home trend, with people moving from the East and West Coasts to the Sunbelt areas like Texas, Georgia, and Phoenix to rent single-family homes. This created a surge in the long-term rental market, and property managers reached out because many of their properties lacked Wi-Fi, asking how our product could work for them. Because of this demand, we found the opportunity to reboot the business; in late 2021, my founding partners and I bought one-way tickets and moved to the US during COVID to set up our operations." - Anthony Chow, Co-founder and CEO of Igloo" - Anthony Chow
"One of the challenges of running an Airbnb side hustle was the logistical hurdle of passing keys to guests, which led us to leverage our technology backgrounds to design our own smart locks. However, when the Singapore government regulated the industry and made Airbnb illegal, we were forced to shut down our business and incur a loss as we were subletting rather than owning the properties. Despite this setback, our experience managing a portfolio of properties revealed that the smart home system we had 'hacked together' for ourselves held significant value for property managers operating at scale. Consequently, we pivoted away from property management to become a smart home solution provider for Airbnb hosts, marking the true genesis of Igloo." - Anthony Chow, Co-founder and CEO of Igloo" - Anthony Chow
In this episode, Jeremy Au speaks on going from Airbnb hustle to global smart locks, COVID pivot, and the rise of the rental economy.
Keywords: Anthony Chow, From Airbnb Hustle to Global Smart Locks, COVID Pivot, Rise of the Rental Economy, Singapore, Southeast Asia, Startup, Founder Story
