In a move set to shake up Southeast Asia, Gogolook, the brains behind the Whoscall app, unveiled a brand-new headquarters in Thailand. This bold step is part of the tech giant’s grand plan to dominate the burgeoning global anti-scam arena, expected to skyrocket to a whopping US$129 billion by 2029.
Jeff Kuo, Gogolook’s co-founder and CEO, spilt the beans on why Thailand got the nod for their latest HQ, revealing executives will be jet-setting between the Thai hub and the original Taiwan office.
“Thailand is our springboard for Southeast Asian growth, and we’re boosting our team here to make it happen.”
Thailand’s new HQ will drive Gogolook’s global marketing and biz-dev strategies, taking charge of product management and app design, while Taiwan will handle the backend tech wizardry.
The choice of Thailand was no accident, its vast user base and reputation as a scam hotspot made it the perfect launchpad. Kuo praised Thailand’s ongoing anti-scam efforts led by private and public sectors alike, making it a strategic sweet spot.
“By planting our flag in Thailand, we’re not just setting up shop; we’re rallying for trustworthy tech and teaming up to tackle scams across Southeast Asia.”
Global losses
Scams have wreaked havoc, with colossal global losses clocking in at US$1 trillion in 2023 and impacting a quarter of the world’s population. The Anti-Scam Asia Report 2024 reveals the scam scourge hitting 89% of Thais monthly, with identity theft and dodgy shopping scams rampant.
With 25 million downloads in Thailand and 4% of those paying for extra perks, Whoscall is a local hit. Gogolook operates across 30 nations, with revenue split at 47% from Taiwan, 46% from East and Southeast Asia, leaving the rest to make up a measly 7%.
Thailand’s head office isn’t just growing; it’s blooming from a meagre one-man band to a bustling team of 11, now occupying swanky digs in One Bangkok. Manwoo Joo, Gogolook Thailand’s CEO, revealed plans to pump 10% of next year’s investment into the Thai market.
“Our sights are set on reaping over half our revenue from East and Southeast Asia soon.”
The rise of scams has companies scrambling to salvage their reputations worldwide. Gogolook is stepping up by acquiring ScamAdviser, expanding its anti-scam arsenal.
In Thailand, the Whoscall Verified Business Number (VBN) is a game-changer, verifying calls for over 100 corporate clients alongside a fraud early warning system, offering round-the-clock scam protection.
AI-fuelled cybercrime
Globally, 82% of Gogolook’s income is from everyday users, with enterprises contributing a mere 4% and its fintech offerings chipping in 14%, said Joo.
“We’re gunning to up the enterprise revenue slice to 10% by 2025.”
Kuo added a sobering note on the rise of AI-fuelled cybercrime, alluding to the latest horrors like deepfakes. From malware to the dark web and pandemic scams, it’s an evolving menace now crescendoing with deepfakes in 2023.
Demand for unyielding anti-scam shields remains high among governments, businesses, and the public. With a market size of US$30.7 billion in 2022, it’s set for a meteoric rise to US$129 billion by 2029. The Anti-Scam Asia Report 2024 warns of potential losses reaching US$688 billion this year in 13 Asian markets alone due to burgeoning cyber threats.
Kuo hammered home the crash course in innovation needed to outpace scammers.
“Fraudsters are getting smarter with their scams across calls, texts, social media, and AI. We need to outwit them with our own cutting-edge solutions.”
What Other Media Are Saying
- Gogolook announces application to transition from Taiwan Innovation Board to General Board, aiming to enhance trading liquidity, visibility, and overseas expansion with AI-driven anti-scam solutions. (read more)
- As cyberscams surge, Taiwan’s Gogolook is capitalizing on the need for advanced anti-fraud software in Asia, driven by countries prioritizing cybersecurity as a national security issue. (read more)
- Bangkok Post highlights Gogolook’s strategic move to establish Thailand as its Southeast Asia base, driven by high demand for the Whoscall app’s call-filtering services. (read more)
Frequently Asked Questions
Here are some common questions asked about this news
Why did Gogolook choose Thailand as its new headquarters?
Thailand offers a strategic location for Southeast Asian expansion and is a hub for anti-scam collaborations.
How does Gogolook plan to tackle the growing threat of AI-driven scams?
By driving innovation and collaborating with partners to develop trust-based technological solutions against AI scams.
What if Gogolook’s efforts in Thailand significantly reduce scam operations?
A major reduction could enhance corporate reputations, increase consumer trust, and inspire similar initiatives in other regions.
How could the rise in scams impact global markets and corporate strategies?
Increased scams can damage reputations, prompting penalties and driving investment in anti-scam technologies.
What potential outcomes could result from Gogolook’s expansion in Southeast Asia?
Expansion could lead to higher revenue, stronger regional presence, and increased effectiveness in combating scams.
The story Gogolook ‘whoscalls’ the shots: Thai HQ set to scamper into anti-scam market as seen on Thaiger News.
