Lest you have, for some inexplicable reason, yet to hear of Asian Boss, please do not be mistaken;
It does not refer to the Youtube channel of your own Asian Boss, Mr Ji Fan Tang.
Rather, the term Asian Boss refers to the popular Youtube channel with a whopping 2.95m subscribers, and a real penchant for “controversial” video stories.
Yeah, this one.
Through immersive and genuine videos on uncommon sociocultural topics, Asian Boss sheds light on more sensitive issues, and manages to bridge social and cultural gaps all around the world.
Whether it’s the red light district of Thailand, or the caste system in India, the South Korea-based media company has proven time and time again that they are not afraid to dabble in controversy.
YouTube Channel Asian Boss Facing Impending Closure
But it appears that the brave-fought battle may soon come to an end.
Though the decision is not exactly of their own volition.
On 25 January 2021, the channel shocked audiences and fans alike when they released a 6:15 video clip, detailing how they are facing impending closure.
In fact, according to the company’s CEO and co-founder, Stephen Park, Asian Boss is mere months away from being a distinct memory.
In the video, Stephen professed that he has retrenched 40% of their staff, and delegated pay cuts to the remaining ones.
They are also currently in the process of moving out of their office, having opted to shift to a much smaller office to extend their lifeline.
Why The Sudden News?
At this point, you may find yourself questioning the nature of Asian Boss’ imminent closure, and how it had progressed at such a rapid, instantaneous rate. Well, according to Stephen, it was caused by the pandemic, though it appears that cracks have been dwelling within since a long time ago.
For one, many of their videos have actually been demonetised due to the nature of their content. As mentioned in the introductory paragraph, Asian Boss aims to highlight sensitive issues around Asia – most of which are rarely touched upon by mass media.
And though their intention is purposeful and benign, it appears that their content has yet to appease Youtube’s advertising-friendly guidelines.
Deemed to be inappropriate, the videos ended up being demonetised.
To understand how a media company earns money, you might want to watch this video to the end (and also subscribe to our YouTube channel for more informative videos!):
Despite the lack of revenue, Asian Boss managed to sustain its operations through like-minded investors – who believed in their vision and were willing to help out in the financial spectre. With these investments, the South Korea-based media startup was able to focus on creating quality content.
However, the pandemic served to change everything. Their investors, who’ve been a major source of funds, went bankrupt – resulting in a sudden loss of funds for Asian Boss. With no other reliable source of income, the South Korean startup found itself facing intense pressure – from both sides of the equation.
Asian Boss is known to cover stories from 7 Asian countries. In order to do so, they situate different personnel in different countries, to secure maximum coverage. This evidently does not come cheap, and requires funds that Asian Boss conspicuously lack at the current moment.
Despite being an admittedly small team at the start, they’ve been forced to let go 40% of their limited personnel – testament to the state of things going on at the startup right now.
However, it should be noted that Asian Boss had raised over US$660,000 from fans before, but the funds eventually went to various social causes. In Park’s attempt to help the less fortunate and produce quality content, he has ended up neglecting the one platform that he should have prioritised instead:
His own business.
And to his own admission, the startup is paying dearly for the mistake right now.
GoFundMe
To keep the company afloat, Park has reached out to the masses for help.
In the video, the CEO professed that they have launched a GoFundMe campaign with an intended amount of US$700,000 (~S$932,442).
The funds will serve to extend Asian Boss’ lifeline until end-2021, giving Park and his team more time to improve their business model.
As for those who are unable to contribute financially, Park has appealed for them to create and/or join in the #SaveAsianBoss campaign.
You can view the full video down below:
Managed to Crowdfund Its Operations for Another Year
According to the affiliated GoFundMe page, Asian Boss has managed to secure USD$740,901 (~SGD$986,924) in funds – USD$40K more than their intended target.
Over 21.7K donors have contributed thus far, with some donating even at the time of writing.
It’s a heartening sight, and one that may well lead to Asian Boss’ continued survival.
However, with the pandemic’s consequences predicted to last for at least a few years…
Only time will tell whether USD$740K can manage to make a difference.
You can click here to access Asian Boss’ Youtube channel.
Featured Image: YouTube (Asian Boss)
Watch this for a complete summary of what REALLY happened to Qoo10, and why it's like a K-drama:
Read Also:
- 21YO Stabbed Actor Ryan Lian in The Face At Least 3 Times
- Summary of What Really Happened to Qoo10, Simplified for You
- 62-Year-Old Tampines Man Found Dead After Missing Daily “Good Morning” Messages
- 5 Places In S’pore To Get Christmas-Themed Cakes Under S$80
- Mister Donut Launching Pikachu & Poké Ball Donuts From 1 Dec 2024 To 19 Jan 2025
- Vietnamese Married S’porean to Get Long-Term Pass, But Wanted a Divorce When Pass Was Not Approved
- Summary of the Places to Count Down to 2025 in S’pore
Advertisements
