Secretlab
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Secretlab is a Singaporean furniture company established by Ian Ang and Alaric Choo in 20141. It primarily designs and manufactures gaming chairs.
Secretlab is a Singaporean furniture company established by Ian Ang and Alaric Choo in 2014. It primarily designs and manufactures gaming chairs.
History
Secretlab was founded as a startup company in December 2014 by former professional esports players Ian Alexander Ang and Alaric Choo, both of whom specialised in StarCraft II. Its starting capital, which came from the two founders' savings, was S$50,000, and went mostly into research and development. The company's first product was a gaming chair, the Secretlab Throne V1, that was launched in March 20151. Two more chairs, the Throne V2 and the Omega, were released in October 2015. In 2020, the company sold its millionth chair. In 2020 and 2021, during the COVID-19 pandemic, demand for the company's chairs rose greatly, partly because of office workers who had to work from home. In April 2021, the company unveiled the Magnus, a magnetic metal desk.
Facilities and partners
The company operates its corporate headquarters, a research and development facility, and an esports gaming arena along Braddell Road, Singapore. It also has a factory in China. The company has partnered multiple times with organisers of official esports tournaments, where the partnership involves Secretlab providing chairs for the players. In partnership with HBO, it introduced Game of Thrones-themed gaming chairs.
Sales and finances
In August 2019, Heliconia Capital Management, a subsidiary of the Singaporean wealth fund Temasek Holdings, bought a minority stake in the company, causing its market capitalisation to reach a reported S$200 300 million. Secretlab reported 2020 chair deliveries of "at least" 500,000. For the fiscal year 2020, the annual operating profit and revenue were an estimated S$70 million and S$350 million respectively. In March 2021, Tech in Asia estimated that the company was "within striking distance of surpassing US$1 billion in valuation", thereby making it a unicorn.
See also
References
External links
Text derived from https://en.wikipedia.org/w/index.php?oldid=1363482679 under CC BY-SA 4.0; modifications have been made.