<article>Serial entrepreneur Joel Neoh has left the US-based e-commerce company <a style="color: #000080;" href="http://www.groupon.com/" target="_blank">Groupon</a> and is planning a comeback into the entrepreneurial game with a B2C business.</article>

Serial entrepreneur Joel Neoh has left the US-based e-commerce company <a style="color: #000080;" href="http://www.groupon.com/" target="_blank">Groupon</a> and is planning a comeback into the entrepreneurial game with a B2C business.
He dubs his comeback into the startup scene as a &#8220;lion in a safari now going into the wild&#8221;.
Although he did not specify what his new venture will be, Neoh hinted broadly that it would be some form of e-commerce and will be around a combination of services and content.
In an interview on the sidelines of <a style="color: #000080;" href="http://e27.co/malaysia-cradle-buzz-20150309/" target="_blank">Cradle Buzz</a>, where he was the keynote speaker, Neoh said he has not decided on anything yet, although he has &#8220;a few ideas under a business to consumer (B2C) model which I am more familiar with&#8221;.
Cradle Buzz is a programme organized by government-linked startup financier and influencer <a href="http://www.cradle.com.my/" target="_blank">Cradle Fund Sdn Bhd</a>, as part of the 1Asean Entrepreneurship Summit.
Neoh indicated that he would make an announcement on his plans in a few weeks but admitted that he was not giving himself a rigid timeline to make things happen. 
&#8220;I have not concretised anything, I haven&#8217;t started anything yet (but) I&#8217;ll probably be looking at something that closely connects consumers and businesses,&#8221; he said, with preference for a business model with a short gestation period.
A longer gestation period will mean the business needs more investment and Neoh was certain he did not want to raise too much when kickstarting this venture. &#8220;I think a lot of startups tend to over-raise their funds and dilute themselves too much. Entrepreneurs need to have their skin in the game,&#8221; he cautioned 
&#8220;I did mention that I would like to raise just enough to scale regionally and it would be a friends and family round.&#8221;
Neoh skirted around the topic on how much he is targeting to raise, saying nothing can be decided on at this point.&#8221;Raising funds is exciting but that&#8217;s not fundamental. What the business should do for customers, that takes precedence,&#8221; he said.
When asked about the his business partners or team that he is building, Neoh said it was too early to say. Neoh&#8217;s friends and family round is likely include some of his investor friends whom he has made over the years.
This included the likes of <a href="http://www.dealstreetasia.com/?s=Catcha">Catcha Media</a>&#8216;s Patrick Grove, <a href="http://www.dealstreetasia.com/?s=Teak+Capital">Teak Capital</a> who invested in Groupsmore (which Neoh co-founded) before it was acquired by Groupon and former head of Groupon Hong Kong and Taiwan Danny Yeung.
Yeung launched a Hong Kong-based $10 million seed venture fund <a href="http://www.sxeventures.com/" target="_blank">SXE Ventures</a> in August 2014 that focuses on tech and healthcare startups, investing between $75,000 to $500,000 in each deal.
Neoh will also bet on himself, using some of the gains he made in his previous business exits. &#8220;I have had the privilege of exiting two companies and be involved with funding, so second and third time round should be easier,&#8221; Neoh said, noting that he was less concerned about funding and more about building the right value proposition in his new venture.
What Neoh would like to have for the new venture is strategic investors. 
&#8220;Smart money would be more of what I seek when I have the right business model,&#8221; he said.
The 32-year old said the timing to get back in the game is great as he is excited over what is happening in the Malaysian startup ecosystem. &#8220;Why did I leave Groupon? I believe that entrepreneurship is about building something and democratising the future, whether through products or services and I did a lot of that at Groupon,&#8221; he said of going back into action, &#8220;I think that it was time I stepped out and build something for the region.&#8221;
There were many factors supporting his departure from Groupon as well, one of them being Malaysia holding the chairmanship for Asean this year. &#8220;It&#8217;s great timing as entrepreneurship should scale very quickly; I think it&#8217;s a calling as well,&#8221; he shared.
He told <a href="http://www.digitalnewsasia.com/" target="_blank">Digital News Asia</a> earlier that Malaysia was positioning itself nicely as a startup hub for Asean, and it was a right time to build an Asian business from Malaysia.
Neoh said that he has started working on an MVP (Minimum Viable Product) and was already building a team.
Neoh&#8217;s last day at Groupon was March 18.
In the four and a half years at Groupon, Neoh had assumed the role as Groupon’s international vice president for Asia Pacific, expanding the business in 12 markets. 
Neoh&#8217;s appointment in Groupon came as the e-commerce giant acquired Groupsmore (which Neoh founded) when it entered the Malaysian market.
Neoh has invested in eight startups over the years, in Hong Kong and Malaysia, and as a limited partner investing into <a href="http://500.co/" target="_blank">500 Durians</a>, the South-East Asian fund started by Silicon Valley’s 500 Startups.
Through those vehicles, Neoh has investment exposure to over 30 startups in various sectors like e-commerce, logistics and fintech.
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Serial entrepreneur Joel Neoh has left the US-based e-commerce company Groupon and is planning a comeback into the entrepreneurial game with a B2C business.

Groupon's Joel Neoh plans comeback with B2C startup in Malaysia

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Groupon's Joel Neoh plans comeback with B2C startup in Malaysia

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