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October 11, 2022

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When it comes to closing the gender equality gap in entrepreneurship, many barriers remain to be addressed. However, female entrepreneurs in the startup industry are now rising and have been taking center stage.

Fortune recently released a list of the 15 Most Powerful Women in Startups based on PitchBook valuation data. 

Eight women on the list are notable Asian women who are either founders of highly valued startups where they hold important jobs or chief executives of highly valued firms.

Without further ado, here are the most powerful women in charge of the most valuable private companies in the world today.

 

Melanie Perkins

Cofounder and CEO, Canva

Valuation: $26 billion

The Malaysian-Austrailian cofounder and CEO of design software maker Canva was valued at $40 billion in 2021, which makes it the highest-valued female-founded startup in the world. Launching their new office product, the company is ready to take on Microsoft and Google.

 

Divya Gokulnath

Cofounder and director, Byju’s

Valuation: $22 billion

Gokulnath cofounded India’s most valuable startup, Byju’s. The firm’s aim is to make learning engaging and effective by leveraging deep pedagogy and cutting edge technology.

 

Miranda Qu

Cofounder and president, Xiaohongshu

Valuation: $20 billion

Based in Shanghai, the social e-commerce app Xiaohongshu (translation: “Little Red Book”) has been key to the rise of experiential shopping in China. The innovative platform integrates the authentic content shared by its community with commerce, quickly becoming one of the most popular destinations for making lifestyle decisions.

 

Ruchi Kalra

Cofounder and CFO, OfBusiness; cofounder and CEO, Oxyzo

Valuations: $5 billion (OfBusiness); $1 billion (Oxyzo)

Kalra along with her husband Asish Mohapatra, cofounded the carbon management business OfBusiness and the digital lender Oxyzo. OfBusiness provides India’s SMEs access to cash flow-based financing for buying raw materials through its NBFC ‘Oxyzo Financial Services’.

 

Adi Tatarko

Cofounder and CEO, Houzz

Valuation: $4 billion

The Israeli-American cofounder and CEO started the home remodeling and design platform where people can browse and save beautiful photos of inspiring home, as well as find and hire the right design and construction professionals.

 

Eynat Guez

Cofounder and CEO, Papaya Global

Valuation: $3.7 billion

Papaya Global is a payroll platform trusted across 160+ countries and all types of employment. Based in Israel, Guez cofounded the startup after a long career in global workforce management.

 

April Koh

Cofounder and CEO, Spring Health

Valuation: $2 billion

Koh became the youngest woman to run a multibillion-dollar company when the startup hit its $2 billion valuation in 2021. With the mission to eliminate every barrier to mental health, Spring Health offers mental health care services as an employer-provided health benefit.

 

Jinglan Wang

Cofounder and CEO, Optimism

Valuation: $1.7 billion

Optimism is an Ethereum-based decentralized infrastructure platform that allows for instant transactions and scalable smart contracts.The company valued at $1.7 billion as it worked to scale Ethereum.

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Chicago’s Khmai Fine Dining: A Daughter’s Tribute To Mother’s Healing From Khmer Rouge

Khmai Fine Dining is a unique Cambodian restaurant in Rogers Park, Chicago. Owned by executive chef Mona Sang, the name is a mix of “Khmer,” the language and ethnicity of native Cambodians, and “me,” the Khmer term for mother, to emphasize her mother’s important role in presenting traditional Cambodian cuisine.

Mona, together with her sister, two brothers, and mother Sarom Sieng came to the US in early 1980 after surviving the Cambodian genocide. The Khmer Rouge tortured Sarom and executed her husband as the family fled to Thai refugee camps.

A single mother who never spoke English, Sarom began cooking for other families in the Cambodian community in order to survive and eventually expanded into catering events at Living Water Community Church in Rogers Park.

Mona hasn’t heard every detail of Sarom’s experience during the genocide, but the trauma her mother went through is still very clear to her. “I don’t know the whole story, but she tells it little by little when she’s cooking,” Mona told Eater Chicago. “I think there’s a lot of other people out there who have been through the same thing, but their story has never been told.”

In 2018, another family tragedy came when one of Mona’s brothers died unexpectedly in his sleep. Her mother discovered him the next morning and that image haunted Sarom.

Now that she is almost 80 years old, Sarom spends her days with her 13 grandchildren or assisting at Khmai.

According to Eater, Mona isn’t simply conveying a message to its customers with Khmai’s name. It is also a way of healing and writing a love letter to her mother who has fought for them to survive through the restaurant.

Khmai’s mesmerizing dishes include “Nom Bahn Chok”, a vermicelli noodle dish with minced tilapia marinated in kreoung and prahok, simmered in coconut fish stock, “Sach Koh Ang”, beef skewers marinated in lemongrass, Khmer spices and chili peppers, and Mai’s famous eggrolls stuffed with ground chicken, bean thread noodles and taro root.

Image Source: Liezel Nudalo Formentera

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Filipina Mom Started Her Career Selling Vegetables Got Her Degree At 32 To Become A Teacher

Liezel Nudalo Formentera is now ready to work toward achieving her lifelong ambition in the field of education.

Formentera works as a street vendor in Cebu, Philippines, and hopes to improve her family’s situation someday. The only way she can see doing so is to further her education and get a better job. She could not finish elementary and high school, but she was determined and decided to join the DepEd’s ALS (Department of Education’s Alternative Learning System) program. 

ALS is a parallel learning system in the Philippines that gives students an alternative to the formal education they already got. She didn’t have to miss out on her primary education because of ALS.

In 2018, Formentera finished high school, and she began to sign up for college. She went to Cebu Technological University to earn a Bachelor of Industrial Technology with a major in Computer Technology (CTU). 

Because she also has to look after her children while she is in school, there were times when she felt physically exhausted from her work. They also experienced financial difficulties, but her farmer husband assists and supports her. There were times when she wanted to give up on her studies when times were tough, but she considered her children and the life she has worked so hard to provide for them. Thus, she worked harder for it.

She understood that there is no age limit on learning. Today, she remains overjoyed and grateful that she never expected to graduate from college. “Life is like this when you are confronted with hard times; simply pray to the Lord, and your blessing will arrive when you least expect it. This is for my children and my hope for the prosperity of my family. My children will not face poverty as I did.” – she happily shared with their local newspaper, The Philippine Star.

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Takashi Cheng Honored With A Special Award For Exemplary Initiatives On Elevating The AAPI Creator Community

The Gala hosted by the Asian Business Association was in full swing during the evening spent celebrating AAAPI contemporaries. The evening’s events revolved around the concept of authentic old Hollywood, and its guest list included several famous personalities. 

Takashi Cheng was honored with the Media Visionary of the Year Award, one of the night’s main highlights. He is one of the business leaders from the Los Angeles community who highlights the accomplishments of prosperous business owners and corporations and has contributed to advancing the ABA’s goals and mission. 

Cheng serves as the Chief Executive Officer of Society One. He is known to be a creative investor and a public intellectual. Cheng has seen many ups and downs, but he credits his success to the American Bar Association (ABA), which he calls a shelter for young professionals seeking mentorship and employment. He attributed a significant portion of his success to the support of his wife and their young children.

Cheng’s Bling Empire castmate and friend Kane Lim called him a visionary. Lim is proud and happy that Cheng is in the spotlight for investing in people and projects that aim to elevate the Asian community. He is amazed at how Cheng invests in people and projects that seek to promote the Asian community.

Besides all the recognition that night, Cheng modestly used his platform to show the world that a large investment in the AAPI creator community is needed to provide a perspective and a complete spectrum of content that better understands the underrepresented. 

Cheng pledged $100 million to create new films, programs, resources, and infrastructure for Asian American business leaders. This showed Society 1’s support for AAPI creators. He concluded that he had “come full circle” from being a spectator in the crowd to receiving recognition from highly regarded community members.

Image Source: Amberlyns Cake / Danica Lynne Casta

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How An Engineering Graduate Trades Hard Hats For Pastry Becomes 6-Figure Baker

For Danica Lynne Casta, an engineer by profession turned baker, success was hers after she risked taking a big step outside her comfort zone. She now manages her online cake business under “Amberlyns Cake.”

The Filipina baker had just graduated from university when the pandemic struck. Danica began to reconsider her professional goals in baking when her family had financial difficulties, so she looked for a short-term position in the online world.  

Danica had limited experience in baking. But through hard work, she persisted in her quest to become a better baker until she became well-known for her delicious “bento cakes”.

The bento cakes were not only delicious but also the perfect size and price for those watching their spending. She also recently launched a “Selfie Mirror Cake” featuring a real mirror on top of the cake. So, you can take one-of-a-kind mirror selfies while taking a snap of your scrumptious cake.

In only one month, she turned a profit into double digits. At that moment, she knew that baking was her true calling in life. “I told my family that I was quitting my job and would be a full-time baker from now on,” she told The Philippine Star, a digital newspaper in the Philippines.

As of writing, Amberlyns Cake (@amberlynscake) got over 178k followers on Instagram and Facebook.