Secretlab, a gaming chair company founded in Singapore by former pro gamers Ian Alexander Ang and Alaric Choo in 2014, quickly made its mark globally. Starting with their own funds, the company became profitable within a year. Their high-quality chairs, which range in price from about S$500 to S$600, with the priciest model at S$1,099, are popular among both gamers and non-gamers. Despite being based in Singapore, the company sees only about 5% of its sales from its home country, with over half of its sales coming from North America. In August 2019, Heliconia Capital Management, part of Singapore’s state investment firm Temasek Holdings, acquired a minority stake in Secretlab, valuing the company at over S$200 million.
Ian Alexander Ang of Secretlab emphasized that their core operations and vision remained unchanged despite the investment from Heliconia, which he described as a turbo-boost for their growth. He noted that the company was already profitable before the partnership, which differentiates them from many startups and allows them more room to enhance their products through extensive research and development.
Secretlab’s ambition is to place one of its chairs in front of every computer screen globally. The company produces over 500,000 chairs annually and is present in more than 60 countries.
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