Interview with Sreyneath Reth – Last2Ticket Asia

Last2Ticket, founded in 2011, is an online digital ticketing solutions company based in Portugal that handles ticketing management initiatives for events across the country. Last2Ticket Asia was created with the same model to deliver similar but extended services for the Cambodian market and neighbor counties. Today we ask Sreyneath, who from our incubator, coordinates the activities of Last2Ticket

April 24, 2019

Sreyneath Reth

Hello Sreyneath, could you introduce yourself in a few words?

 I’m Cambodian, I was born here, but I was raised in a very international environment. I have been working for Last2Ticket for almost a year. At first I was doing an internship, but I’m now a full-time employee. At first I was mostly in charge of the administration, but now I’m more and more involved in the PR and the business development.

 

Can you tell us more about Last2ticket, its missions (medium to long term goals) ? What is Last2ticket international positioning?

 Last2ticket is an online booking platform for events, created in 2011 in Portugal and implemented in Cambodia in 2017 as Last2ticket Asia.

We are providing the organizers of events a whole panel of digital tools that help them in their work on a daily basis:

  • Online and physical sales,
  • Centralization of data and analysis,
  • Real-time control,
  • Handling of private invites, promotional codes, recurring sessions, check-in…

Last2Ticket is already supporting events organizers all around Europe and tends to develop its activity in Asia from its office in Cambodia.

Our positioning in Cambodia falls within a local approach with a real understanding of the local markets and its specificities: local means of payment, pre-existing customer services, suited business strategy…

Can you tell us how Last2ticket arrived at Confluences in Cambodia? Why this choice of incubator, and why Cambodia?

Last2Ticket is originally a Portuguese startup that profited from two Luxembourgian business angels. These two investors had, and still have, ongoing operations in Siem Reap. The idea of proposing an online-ticketing service to the Cambodian authorities for the archeological parc of Angkor came to them.

The Consulting team of Confluences then organized a prospective mission with the authorities in charge of the site. In conclusion, Last2ticket’s solution had to be shown to work in the local market. Confluences then realized a study and a business plan that led to the creation of Last2ticket Asia with Last2ticket Europe, the Luxembourgians and Confluences as shareholders.

 

What makes Cambodia such an opportunity for the development of Last2ticket?

 Cambodia is seeing a fast growth of its digital sector with an abundance of opportunities yet to be taken. The market is rapidly evolving with a young population easily adapting to new trends. We have been able to witness this phenomenon with the first edition of the Digital Cambodia Forum of March 2019 in Phnom Penh.

Without direct competitors on the Cambodian market, Last2ticket Asia has been able to fall within this dynamic of disrupting old practices with online payment.

 

Are you facing difficulties in regards of your implementation in Cambodia ? Which advices could you give to other french startups wishing to come to Cambodia?

 When Last2Ticket opened its new offices in Cambodia in 2017, the majority of Cambodians were not familiar with online payment. The numbers speak for themselves; only 15% of adults had emitted or received an online payment in 2015, according to Master e-wallet survey of 2016.

 Furthermore, we had to pin down the habits of Cambodians: everything happens really fast here, and often last-minute, we shouldn’t promote an event too early nor expect reservations before the last couple days before the event takes place.

Finally, our potential Cambodian clients often have difficulties understanding the real added value of the Last2ticket platform, particularly in terms of centralization and data analysis. We have to double down on our efforts to sensitize them to the long-term benefits of our solution.

How do you see Last2ticket future ? Conquering all of Asia ?

 The main medium-term goal of Last2Ticket Asia is to approach the big event projects that enliven Cambodia to sustain its activity and increase its credibility and reliability in the country.

In the long run, on the model of Last2Ticket Europe based in Portugal, Last2ticket Asia could extend its geographical reach to neighboring countries to propose its solution to even more clients!

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