Incentive Network Founded by Ex-Alibaba Execs Signs E-Commerce Players in Southeast Asia

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Centive has announced that is has signed Memorandum of Understanding with a couple leading e-commerce players in Southeast Asia, and there are more partners to come once the products and services are fully developed. One of the partners, Convend Partners, is based in Indonesia. It was founded by an ex-Alibaba and Tencent executive. Another is ROPO Ventures, based out of Philippines. ROPO’s founders have previously launched and grew one of the largest online fashion companies in the country, which was funded by Berlin-based billion-dollar Internet behemoth, Rocket Internet.

Centive’s Marketplace will be built into its Wallet App making it easy for consumers and businesses alike to transact

DISCLAIMER: the logos/brands shown within the product showcase are for demonstration purposes only

Centive’s Marketplace will host brands and discounts on the platform, where tokens can be exchanged for discounts, or paid out as bonuses on each purchase.

“We have successfully put together a high-caliber team, comprising of ex-Alibaba, Rocket Internet, and Tencent employees and our partners are fast-growing e-commerce companies in the region. We see ourselves as the blockchain-based marketing enablers for e-commerce companies in the region. While this is not our end game, this is a starting point. We aim to grow much bigger and more diversified than this in time to come, and also, we have a track record of building successful companies,” says Chong Siong, founder, and CEO of Centive.

Surprisingly, unlike most blockchain projects out there, Centive did not raise from VCs but instead bootstrapped their way to ICO. Centive’s ICO is currently ongoing. Already, its social channels are growing leaps and bounds. Its Telegram channel is steadily the most popular channel according to Combot.org. It ranks as 8th most popular English channel globally and has a growing community of over 35,000 Telegram followers at its channel @centivextv.

When asked further if they would be raising from VCs, they said they were open about it. “There’s always more we could do with the investment money that comes in,” continues Chong. However, he also assured that bootstrapping is Centive’s culture, and they won’t hesitate on going cheap, to eke out their dollar’s worth. “Our plan is to outlast as many projects as possible in our field and to turn a profit quickly. If that means, budget flights and motels, so be it. As soon as that happens, Centive becomes sustainable, and easily the best company in its category. Hopefully, the token price will correspond positively,” he continues.

Centive plans to raise US$35 million and admits that it might be farfetched in the current climate, but happy to make do with much less. “Centive can survive 10 years if we raised that amount,” Chong added, smiling. Centive believes that its tokens have broad appeal and usage, but it plans first to be used in the e-commerce ecosystem, slowly expanding to crowdfunding, social causes, and content platforms.

Centive’s ICO ends on 1st November 2018.

About Centive Technologies Corporation: Centive Technologies Corporation is an internet and technology company with a presence in Singapore, and operations around the world. Founded in 2018, it is helmed by executives formerly from Rocket Internet, Alibaba, and ad giants in Europe.

For more information, visit centive.org.

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Mauro is a Portuguese crypto journalist in pursuit of his digital nomad dream. Although he graduated in scriptwriting, he spent the past decade in corporate environments. Now that he's rediscovering what freedom feels like, he can't get enough of blockchain and its decentralization.