AddressTalk, a Thai technology firm, is introducing a "hyperlocal" social networking site for condo residents.
Brain: Linking tenants with management
The company chose Singapore for yesterday's site launch, as 80% of the country lives in condos or apartments.
Chief executive Graham Brain said Singapore has a population of 5.3 million with 7,315 people per square kilometre, making it one of the most densely populated urban centres in Asia.
"We plan to roll out the community site in Hong Kong and Thailand next month, then the US and Europe by June next year," he said.
Mr Brain, a start-up specialist, said AddressTalk is aimed at giving residents a united voice and starting a conversation between tenants and building management.
Users can create an account and log on to addresstalk.com to discuss, debate and rate everything about their condos, while building managers and project owners can openly and transparently defend their cases.
"For residents, knowing they can get the management's attention, state their case and get something done is a huge weight off their shoulders," said Mr Brain. "For building managers, AddressTalk is about embracing transparency, showing there is nothing to hide."
AddressTalk spent 20 million baht on developing and marketing the site.
The company provides free cloud-based networking to residents, charging condo management a small fee. Future revenue will come from advertising.
The firm got financial support from PointClear Digital, a Hong Kong-based venture capital fund, but Thailand is the headquarters and development base.
AddressTalk expects to add 10,000 users in the next 10 weeks. The number of users in Thailand will account for up to 30% of the total.
"Our user base is expected to reach 100,000 by 2014," said Mr Brain.