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  • Razer's triple-headed snake trademark is one of the most recognizable logos in global gaming.

  • People tattoo logos on themselves. They get really passionate about it.

  • The brand's success has catapulted the company's CEO and co-founder Min Liang Tan to the top

  • of his country's young billionaires list, earning him a cult-like following in the process.

  • And now, the gaming enthusiast is pivoting part of his tech business to help with the

  • coronavirus relief efforts.

  • We're now producing face masks. We're donating up to a million globally.

  • All while more people than ever pile onto his platform as they attempt to stay entertained at home.

  • In recent times, with the whole Covid situation, we could see gamer activity just skyrocket.

  • Everyone's stuck at home and we could see more gamers come online than ever before.

  • Singapore-born entrepreneur Min Liang first brought Razer to market with his co-founder

  • Robert Krakoff in 2005.

  • Today, the multimillion-dollar business covers the gaming ecosystem, from hardware such as

  • keyboards and laptops, to a global software network with 80 million registered users.

  • The company has even released limited edition products like a car and a toaster,

  • which is currently under development.

  • But when Min Liang Tan quit practicing the law at Singapore's Supreme Court to embark

  • on a journey of entrepreneurship, his ambitions were hardly that great.

  • I did the whole go through law school, become a lawyer, practice for a little.

  • But I think all throughout I've always been a gamer, I've been playing games all the time.

  • And when you're a gamer, you're usually super competitive; it's all about

  • how do I get that competitive advantage?

  • We said 'is there a possibility for us to build a better mouse?' All we wanted to

  • do was to be able to compete with the rest of the gamers out there.

  • So Min Liang and Robert, a fellow gamer, rallied their friends online to create what they dubbed

  • as the world's first gaming mouse, focused on precision and speed.

  • I think we did this in the very early years of crowd sourcing.

  • I wouldn't even call it crowd sourcing. But online, we would have friends

  • from a whole variety of different backgrounds.

  • We got together with industrial designers, mechanical engineers, electronic engineers.

  • From the humble beginnings of that first mouse was born a whole family of gaming products

  • named after snakes and spiders.

  • But the founders didn't stop at hardware.

  • In the 15 years since, Razer, now headquartered in both Irvine, California and Singapore,

  • has also expanded into producing software and other gaming services.

  • Essentially our core business is an entire ecosystem. We've got the hardware piece,

  • where we've got peripherals and laptops. And we've got the software platform.

  • So on a software platform, we've got gamers everywhere using our free software.

  • After creating this hardware and software platform, we said 'how do we monetize on top of it?'

  • So we created a virtual credit called Razer Gold, which is being used by game companies,

  • streaming services, and we provide them a platform to be able to monetize their digital content.

  • So that's our services business.

  • It wasn't a bad shout. The games industry has been growing rapidly over recent years

  • to represent the largest segment of the entertainment industry.

  • In 2019, the global games market was estimated to have generated revenues of $148.8 billion,

  • up 7.2% from 2018.

  • By 2022, it is forecast to grow to $189 billion.

  • That growth will be led by a rise in mobile

  • gaming, including tablets, which is set to account for almost half of the market.

  • Today when we realize that this entire thing is a multibillion-dollar industry we go like

  • wow, it's kind of grown a bit.

  • A little bit.

  • Meanwhile, the recent coronavirus outbreak has seen a spike in the number of people going

  • online as they stay indoors, which Min-Liang said could speed up the growth of the industry.

  • So what would be your predictions for what entertainment could look like in five years or so?

  • Ourselves, we are a stay at home kind of company, where we are taking care of all the gamers

  • who are at home or on the mobile phones and stuff like that.

  • Covid has really accelerated this five-year plan to a much shorter timeline because everyone

  • right now who's stuck at home is really looking at how do I be more productive

  • with the working from home? Over and above, how do I get entertained?

  • Min-Liang wants to capitalize on that by expanding into a range of entertainment services.

  • Even before the virus outbreak, Razer started acquiring a range of businesses to support

  • that drive, including director George Lucas' audio company THX.

  • Now, Min-Liang is experimenting with cloud clubbing to entertain people stuck in their homes.

  • Now we're going to be working with clubs to bring clubs streaming live to the masses.

  • That's what's happening.

  • We see this ultimate potential convergence to be happening in the next couple of years,

  • probably accelerated with the whole Covid situation at this point of time.

  • Esports has been massive and I think especially with what's happening at this juncture,

  • you're seeing traditional sports become esports.

  • So we've been pushing this whole narrative of a holistic entertainment experience,

  • completely immersive, and with ourselves as that platform to deliver it.

  • Min Liang's vision in e-sports has attracted numerous investors at a time when the industry

  • was still relatively nascent.

  • Over the years, Razer has raised an estimated $175 million from investors including Intel,

  • Hong Kong tycoon Li Ka-Shing's Horizon Ventures, and Singapore's state-owned funds GIC and Temasek.

  • In November 2017, the company went public on the Hong Kong Stock Exchange,

  • raising $528 million and making Min Liang, then 40, Singapore's youngest self-made billionaire.

  • I spoke to Sahiba Puri, a home and technology analyst at Euromonitor International, to find

  • out more about the industry's rise.

  • Video gaming has been there in the industry, but the kind of viewership that they've

  • been able to garner in the past few years it's kind of what is making them go more mainstream.

  • Gaming and esports in itself is becoming an entertainment option.

  • A lot of brands and portals are understanding that, and just in the past few years the level

  • of investment that we see flowing in has increased drastically.

  • That growth is primarily split between North America and Asia,

  • home to Razer's headquarters and retail stores.

  • In 2019, almost half of global gaming revenues were estimated to have been generated in Asia Pacific,

  • up nearly 7% from 2018.

  • Over a quarter were from North America, up about 8% from the year before.

  • The growth of the gaming industry has attracted major tech players.

  • Last year, Google unveiled a cloud gaming service called Stadia, while Samsung teamed up

  • with a subsidiary of Finnish gaming developer Rovio for a similar service.

  • Razer is a brand that's synonymous in the esports world. It's one of the pioneers in the field.

  • But we also see a lot of non-endemic brands, such as Coca Cola, Nike, State Farm, Adidas,

  • who are getting behind sponsoring such events and esports in particular.

  • I would say it's quite a pivot from just a few years ago when video gaming was considered

  • to be quite a niche category.

  • Esports, or competitive video gaming, is forecast to become a $1.1 billion industry this year.

  • In 2019, it attracted a global audience of 443 million, of which 198 million

  • were considered enthusiasts.

  • By 2023, that audience is forecast to grow to 646 million, of which 295 million will

  • be considered enthusiasts.

  • We definitely see mobile gaming and video games, in particular, online gaming,

  • experiencing a spike during this time.

  • Min-Liang, known for his characteristic black tee and blue jeans combo, and army of loyal

  • fans, has drawn comparisons to Elon Musk and Steve Jobs.

  • However, his unrelenting work ethic has also given rise to criticisms over his management style.

  • To be able to make things happen, you tend to want to push everyone to their potential,

  • and oftentimes you realize that we are able to do a lot more than we think we are able to do.

  • That includes tapping into new industries, such as financial technology.

  • Min Liang now intends to expand its existing payments platform, Razer Pay.

  • It is competing with other giants including Alibaba's Ant Financial and Grab

  • for one of five digital banking licenses in Singapore.

  • We see Singapore as a great location, I am Singaporean, to kick things off. But ultimately

  • the vast majority of the youth, and where our brand extends to, is global.

  • A lot of our digital payments initiatives are actually out of the emerging markets,

  • Southeast Asia, Middle East, Latin America, so from these areas, today, we actually have

  • one of the largest offline to online payment networks.

  • With an arsenal of products and services to its name, Razer today has moved well beyond

  • gaming, positioning itself as a multifunctionalyouth and millennial brand.”

  • But, ultimately, Min Liang is proof you can take the man out of gaming, but you can't

  • take gaming out of the man.

  • I kind of look at it like a gamer always. It's always about the next challenge,

  • what's ahead. We very rarely look backwards.

  • But still, at the end of the day, it's about fun. I mean we're looking at building a bank!

  • Who'd have thought?

  • Like what next? But it's this hyper-focus on a single group of users,

  • and that's what we're really good at.

  • We understand the youth, we understand the millennials really well, and we build everything

  • around that single user.

Razer's triple-headed snake trademark is one of the most recognizable logos in global gaming.

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