After previously reporting that WeYap was close to shut its services, we found out that the startup just confirmed that it will relaunch its services, although probably in the near future. This scheme will be accompanied by the introduction of the Executive Board that will lead the directory business platform.
Mountain Kejora Ventures (MKV)’ VP of Portfolio & Investment Andreas Surya, WeYap’s main investor, told DailySocial that there was inevitable issue that hindered WeYap’s operations.
One of WeYap’s founders, Teresa Lin, had to move abroad, allowing MKV to step over her position and part of WeYap’s shares, so that the service may re-launch again. Lin will still be around as a business consultant.
Surya told us via e-mail:
We saw that WeYap had been progressing steadily, though unfortunately due to an unavoidable situation, Teresa Lin, the founder/CEO of WeYap is required to leave Indonesia for family and personal reasons, as her husband has a new assignment abroad.
As a result, we, MKV, have taken back a portion of ownership and assets of WeYap and may re-launch it again after we form a new executive team. Teresa Lin retains an ownership interest in the company, and in the event of any such re-launch, she will play a part in ongoing consulting and leadership.
Further, he explained that WeYap’s new team and another WeYap’s Co-founder, Kelly Octavian, have now separated their ways. He denied that the issue was about money, as he claimed that MKV was even ready to invest more. Octavian has now been an integral part to Qraved’s team.
As for WeYap’s business model, the MKV team are now assessingn the situation to determine which to keep and which not to keep, particularly after relaunching the service.
