| Startup Thailand | TH |
Growth & Exit Strategy:
Cracking the Code to Billion-
Dollar Success with SHIPPOP
In the startup world, growth isn’t just a goal, it’s a way of life. This was the central theme at the Global Stage within the SITE 2025 event, where one of the main highlights was the “Growth & Exit Strategy” session. The featured speaker was Suttikiat Chanchairoat, also known as Mochi, the founder of SHIPPOP, a company that once reached a valuation of 1.2 billion baht. Drawing from his direct experience building three successful businesses, he shared powerful lessons on both failure and rapid recovery.
From a Small Town to a Billion-Baht Company
Mochi began by sharing his journey, starting as a young man from a provincial town who moved to Bangkok with nothing more than a computer and a motorcycle. He started as a programmer and eventually attended a Webmaster Camp, which ignited his dream of becoming a startup founder. At this crucial turning point, he chose to leave nothing behind, working his day job while building his business on the side and constantly practicing his pitch. “Become a great pitcher, a great speaker, and do a lot of research,” he emphasized as the first steps to success. He relied on the “Build-Measure-Learn” formula, which allowed him to test ideas quickly, fail fast, and learn even faster.
Lean Canvas: Know Your Customers Before You Act
Mochi explained that before starting any business, you should begin with the Lean Canvas, focusing specifically on the Customer Segment. Consumer behavior varies greatly based on income, age, and lifestyle. For example, a person earning 9,000 baht a month will eat at a different kind of Japanese restaurant than someone earning 200,000 baht. This, he noted, is the true definition of understanding your customers.
To Grow Fast, You Need a New S-Curve
The reason for SHIPPOP’s continuous growth is that the company never stopped creating new S-Curves. They started with API (Application Programming Interface), added credit services, and launched a COD (Cash on Delivery) website before developing new services. Mochi’s strategy was to test the market by running Facebook ads before building the actual system. He taught a crucial lesson: “You don’t need to make a heavy investment from the start.” Instead, you must Sell before you Build, then Measure the results, and learn immediately before adjusting your strategy.
The Secret Formula for Unicorn Growth & Exit
What made Mochi so successful wasn’t just knowing how to make money but knowing how to plan for growth and having a clear Growth Strategy. He advised that if you want to grow to a unicorn level, you need to know about global funding sources and attend world-class camps or accelerators like Y Combinator, Sequoia, Softbank, or Alibaba eFounders.
A good investor should be a Strategic Investor, not just a source of money. Most importantly, you must be able to answer the question, “If you have the money, what will you do with it?” instantly. This includes having a clear business plan for the short term (1 year), mid-term (3 years), and long-term (5 years), as well as setting both growth and exit goals.
SHIPPOP itself has completed a merger and has a clear exit plan. The company is also preparing to use the Capital Gains Tax benefits provided by DEPA and NIA to reduce future financial burdens. (In the future, if SHIPPOP has a clear plan for an IPO, using these tax benefits will also be part of the preparation for becoming a public company).
Key Takeaways Every Startup Must Know
-Understand your Product Life Cycle—whether your business is in the introduction, growth, maturity, or decline phase.
-Don’t get trapped by immediate success. You must always seek a new Goal.
-Constantly look for a New S-Curve.
-Build a strong Marketing and Sales system. It’s not enough to just be good at your product.
-Know your company’s Top 20 customers. Visit them often, understand them, and prioritize them.
-Prepare all 12 points on your Due Diligence checklist to be ready for any opportunity or challenge.
-The CEO’s role must evolve from doing everything to building a team. If you have 10-100 people, you need to create a Culture. If you have 100-1,000 people, you need to establish Vision with clear company goals.
A Final Thought from Mochi
“Don’t be afraid to fail. Failing fast is the best lesson that will help us get to the next S-Curve before anyone else.”
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