Yuuzoo
YuuZoo was a company that has built an online platform that combines social networking, e-commerce, gaming and online and mobile payments. It had grown internationally through a licensing programme in which geographical licenses were sold to companies or entrepreneurs in each market. It was the first company of its kind to be listed in Singapore. The platform also had an advertising functionalities and a payment service called YuuPay.
History
YuuZoo was founded in 2008 by Ron Creevey and Thomas Henrik Zilliacus, the former Regional Director for Asia Pacific of Nokia. Building of his 14-year experience as a senior executive in the world's leading mobile phone company Nokia, Thomas Zilliacus from the time YuuZoo was founded used leading audit and legal firms to ensure that YuuZoo from a corporate governance point of view was prepared for a possible listing. He engaged KPMG, one of the world's big 4 audit firms, to advise Yuuzoo on how it should recognise the sale of licenses against shares in the companies that bought the licenses. Following the advice of KPMG, YuuZoo appointed Deloitte, another big 4 audit firm, to value the shares YuuZoo received. The model was presented to the Singapore Stock Exchange who approved it. On September 16, 2014, YuuZoo became a listed company on the SGX under the ticker symbol "AFC".YuuZoo set up an office in Singapore, and also set up offices in Thailand, China and Nigeria. Soon after the listing Thomas Zilliacus resigned as CEO and James Sundram was appointed. From October 2015 Sundram was in charge of all operational matters while Thomas Zilliacus as Chairman focused on strategic issues.
In 2017, YuuZoo made a major acquisition in buying a French logistics company. The plan was to build a European base for YuuZoo's e-commerce business and to provide logistics services in Europe for Asian e-commerce companies. The French company was named YuuLog.