Recently named, Forbes 30 under 30 in Asia for Consumer Tech Ms. Valenice Balace, the founder and CEO of Peekawoo, is not your typical CEO in the Philippines. Peekawoo, one of the Philippines leading dating platform for the millennials which aims to make dating fun and interactive both online and offline.
Valenice is young, vibrant and has a demeanor unconventional of any CEOs in the Philippines: warm and happy! At 27, she has the wisdom and the practical mindset in leading a thriving dating service company that truly understands the Philippines’ conservative and traditional culture of dating. (If you are unfamiliar with the dating scene in the Philippines, it looks like this: you could only go out with someone whom your family knows. On your first date, it is “chaperoned” – meaning, someone has to be with you, either a sister or a family member. Physical touching is not allowed. Dating in the Philippines doesn’t mean relationship or marriage, but just a bit more serious.)
Valenice understands how Filipina women (along with other Southeastern women) view dating apps as “wild”, “cheap” and “unsafe” way to meet potential partners. She also understands the challenges of the traditional ‘dating’ approaches. So, with these problems in mind she developed Peekawoo to address the dating concerns of Asian women by honoring their local culture and discouraging users from meeting one-on-one. Through Peekawoo, Valenice has made the dating scene in the Philippines a wholesome and a female-friendly experiences emphasizes on user’s personality and preferences than location or appearance
This week, I am sharing with you how her company started in 2012 and how it has grown to be the Philippines’ largest gamified app for millenials. This is her story:
The Alpha Stories (TAS): What were your reasons in developing Peekawoo? Tell me your story?
Valenice Balace: So, there were five reasons:
1. Personal Reasons: I started a few years ago, it first started out as an observation I had with my friends. I used to go out every weekend with my friends… and so every weekend it was always the same discussions… love life. And it wasn’t just the same discussions… it was most often the same guys and the same problems. And at somepoint, maybe I got fed up with it. :) I wondered why my friends wouldn’t just meet other people. If they were seeing everything wrong why don’t they try meeting other people, i wonder? :) It then occurred to me how dating is taboo in the Philippines 2. Dating is taboo, could be because of the society we live in, where everyone’s conservative is dating is dubbed to be “hook-ups” or being a little bit “promiscuous” or a lot, depending on what type of conservative family you belong to. But actually the term “Dating” is described as two people evaluating one another’s suitability as a long term companion or spouse. The keyword here is EVALUATE. You evaluate people. If it doesn’t work you move on. This is actually good. The more you go through people the more you get to know yourself, your tolerance. And I’d like to encourage more people to see dating as an “evaluation” state rather than seeing it as a step to becoming “in a relationship” 3. Good Intentions: We created Peekawoo because we want to educate women and try to keep and bring the Filipino dating traditions into the millennial living which is through app on your phone. We thought if at least 1 out of 10 mobile app dating makers would think deep into the human and societal implications of the app that they’re creating vs just profits and popularity then at least out of the 10 you’d have at least 1 different / good option. And you wouldn’t be scared about recommending it to your sister or telling your parents.
4. Dating apps are scary to use in the Philippines + the negative views towards it. Women using dating apps are usually labeled “desperate” or women looking for foreign husbands… And if that doesn’t bother you and you try dating apps like most of the time it isn’t a good experience. I tried a few dating apps and true enough I had one experience which a guy wanted to go to my house 20 minutes into the conversation. No way! :) I tried a few with incriminating texts and photos. It wasn’t an app that makes women jump in and explore using it. And so, this was one of the reasons I created an app and made it female friendly. I wanted to make an app that I and my friends wouldn’t be ashamed to be in. 5. Also my background has ever since been on website, apps and mobile it was natural for me to come up with that idea.
TAS: Tell us about the dating market in the Philippines? How big is it? What are your growth drivers as a company?
Valenice Balace: It’s growing, it used to be for people who just want to get married which are much older, now younger people who just want to meet up with people are also in it now. It’s something people are accepting, It’s starting to no longer be taboo.
Believe it or not. Other apps like Tinder help us grow. It’s actually because of them that people are opening up to the concept of online dating but since most of them are focused on meeting your partner for life or meeting your partner for the night it gives a need for something different and more addressing women’s concerns.
TAS: There are many dating sites out there, what makes you unique? How do you stay ahead of competition?
Valenice Balace: Well, I wouldn’t say that we’re ahead of the competition just yet.
But the one thing we have that they don’t. We’re mostly girls in the team, with the skills and perspective and values to push forward with this. Peekawoo also really reflects on each girl that is part of the team. Those aren’t easily replicated.
TAS: Take us through the process of how it works. How do we use the site?
Valenice Balace: The site is under construction now.
Now we’re on iOS and Android, you do a pre-matching where user ask question from other users on “what would you rather? + do, eat, go out with, etc” if you get 3 out of 5 questions correctly then you can chat with them.
TAS: What value do you provide your market?
Valenice Balace: We’re a primarily female-run team and we’re coming into this business with that in our back pocket. We know our customers because we are them and we know how dating is for Asian girls who are more traditional and conservative. There’s a sense of emotional responsibility to it thus, we focus on women’s need in an online dating platform. Our aim is to create a safer and wholesome dating environment and platform for women.
TAS: What was your biggest challenge so far?
Valenice Balace: Transitioning from employee to entrepreneur overnight. I had no idea how to start or run a business.
Hiring, Maximizing my employees time, resource allocation, customer acquisition, getting partners and convincing investors. I had to learn as I go.
I made mistakes, learned lessons and gained achievements as well. But it was hard, up to this time, there are moments when I’m not sure about some things that’s where investors and mentors come in handy. They know you, they support what you’re doing and they have but only good intentions when giving advice and guidance. It’s what kept me focused and just running.
TAS: Your greatest achievement?
Valenice Balace: I used to dream about being on Forbes. It wasn’t actually a thing that I thought I could achieve; in all honestly it seemed improbable, even in the past year. You know, I’d go to work everyday and I just do what I need to do, I’ve made so many mistakes and I just try to fix them and go on everyday with the things I needed to do. I never thought that, that would land me in Forbes 30 under 30. Actually this thing I created, Peekawoo has been featured in Wall Street Journal, TechinAsia, e27, Rappler, CNN, CNBC, I’ve been on BBC Radio New York with Jackie Chan, I was named many times as “women to watch”, I’ve met the US Secretary of Commerce, Penny Pritzker… there is so much that I was a given the pleasure to be featured and part of… And I really feel blessed for it.
TAS: What are life lessons you go by that helped you in your business?
Valenice Balace: Honesty is the best policy.
People respond to genuine people and by just telling what is happening really and honestly, people know how to help you and support you. Also, the community is really small, news travels. :)
Lastly, stay humble and pleasant all the time.
