Xurpas chief gets honor for ‘high-impact’ role
CONSUMER technology firm Xurpas Inc. chief executive Nix Nolledo was honored as “Endeavor Entrepreneur,” the first Filipino to gain this distinction from New York-based Endeavor, a nonprofit global organization that supports “high-impact” entrepreneurs around the world.
The selection was announced during Endeavor’s 60th International Selection Panel in San Francisco, USA, Xurpas said in a press statement.
Nolledo was lauded for Xurpas’ business model, which allows Southeast Asian consumers to purchase mobile content, such as games, with prepaid airtime credits distributed by leading telecommunications companies.
Xurpas debuted on the Philippine Stock Exchange last December. The technology company is now valued at P17.2 billion, more than double its market capitalization of P6.8 billion when it listed on the local bourse.
The company was put up 14 years ago with only P62,500 in seed capital. Today, proceeds from the initial public offering are used for the company’s expansion across Southeast Asia.
“To be selected as an Endeavor Entrepreneur is a great honor. Being included in this roster of companies proves that the Philippines is a sound launch pad for tech companies who have the ambition to expand locally and regionally,” Nolledo said.
Top business leaders vote on whether or not candidates become “Endeavor Entrepreneurs” after being interviewed about their businesses and their high-impact potential. This is the last step of a rigorous process.
Nolledo joins 33 other high-impact entrepreneurs representing 23 companies in various industries from 15 countries to be cited as “Endeavor Entrepreneurs” by an international panel.
Candidates are selected based on their potential to transform industries, communities, and countries through their capacity to innovate, become role models, and maximize wealth and job creation. Once selected, “Endeavor Entrepreneurs” are provided with customized services, including introductions to a network of international business mentors and volunteers from Fortune 500 consulting firms.
By supporting high-impact entrepreneurship in developing and growing markets around the world, Endeavor seeks to catalyze long-term economic growth by identifying and supporting entrepreneurs worldwide with the highest potential for social and economic impact in their region. The non-profit organization provides its entrepreneurs with a world-class network of services that will aid them in growing and sustaining their ventures.
Since its public listing, Xurpas has embarked on a series of strategic acquisitions and investments in companies both within and outside the country to enhance its product portfolio and to extend its network of distribution channels in the Southeast Asian region.
