Stephanie Chai of Luxe Nomad: I’m earning less than in modeling, yet strangely happier

In a male-dominated world of tech startups, travel flash sales site TheLuxeNomad is an oddity. Its CEO and founder, Stephanie Chai, has raised funds from venture capitalists even though they are often iffy about solo founders.

An Eurasian model since 18, she subsequently joined the grimier, less glamorous startup world, first creating web portal WeddingGuideAsia.com before venturing into her current gig.

Since launching in June 2012, The Luxe Nomad has seen an average revenue increase of 34 percent in the last ten months, and its inventory has grown to over 200 partnering hotels and resorts across Asia and Europe.

Due to its database of members, the startup is able to negotiate exclusive rates at better prices than the hotel’s own website. It’s also a good way for hotels to offload inventory during off-peak seasons.

We caught up with Stephanie recently over email and discussed her startup, the flash sales industry, and her experiences as an entrepreneur.

TiA: Aren’t investors concerned about solo founders?

Stephanie: In theory, yes. Should anything happen to me (knock on wood), there’d be no founder left to run the company. However, this was not really an issue when it came to investment and to be honest I don’t think it should be. Because you could easily turn it around and say — hey now that you have two or more founders, you run the risk of partnership fallouts and so forth, and that is messy.

“If flash sales are not your only business, you’re not going to make it,” said Kevin Ryan of Gilt Groupe. Do you agree?

I do believe that flash sales are a great and unique selling proposition. If a friend told you, “Hey check out TheLuxeNomad.com, it only has the best hotels around” — your response might be, “Oh that’s nice”. But by saying that we have four and five star resorts at up to 70 percent off each week for a limited time, you’re more likely to log on. However, we have also been building up our focus on the 24/7 segment, where members can book our hotels live anytime and at the best available rates.

I believe a company should be attractive during boom and bust times. Therefore, having both flash and book-anytime rates works to open up our market.

You were a model. How does that shape your entrepreneurial journey?

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