Congratulations on Tango’s win at the 11th Invest Cyprus International Investment Awards. What does this recognition mean for the company?
It holds significant meaning for our company. It validates our dedication, hard work, and commitment to innovation, excellence and creating value for our users and investors. This recognition enhances our reputation in the industry and solidifies our potential as a leader in the tech sector.
Our decision to invest in Cyprus was driven by several factors that present immense growth opportunities. Cyprus’ strategic location at the crossroads of Europe, the Middle East and Africa provides access to diverse markets. The flourishing fintech industry aligns perfectly with Tango’s mission to leverage cutting-edge technology and provide seamless payment solutions. Cyprus also provides a favourable business environment with a robust legal framework and a supportive government actively promoting foreign investment. We define success as achieving sustainable growth, expanding our user base, contributing to the local economy and fostering technological advancements.
How have you adapted to the mentality of doing business in Cyprus, and what strategies have you implemented to effectively integrate into the local business culture?
Adapting to the business mentality in Cyprus has been a priority for Tango. We have invested in understanding local market dynamics, cultural nuances and regulatory frameworks. Actively engaging with local industry associations, chambers of commerce and attending networking events has helped us build valuable partnerships and establish a strong presence within the local tech ecosystem.
In 2022, Tango led the way in terms of consumer spending in Turkey, Egypt and India and was in the top five in Saudi Arabia and Colombia. What are the factors that contributed to the company’s leading position in these markets?
Tango’s leading position in consumer spending in Turkey, Egypt, India, Saudi Arabia, Colombia and other top locations is attributed to our user-friendly platform tailored to the specific needs of these markets. Effective marketing strategies, partnerships and localised promotional campaigns have attracted a significant user base. Additionally, our focus on delivering high-quality content and engaging with local talent has established a loyal user base and positioned us as a leading live-streaming platform.
Going forward, what are some of the trends you expect to emerge in the live streaming space that you are particularly excited about and how do you plan to capitalize on them?
We are particularly excited about emerging trends in the live-streaming space, such as the integration of Augmented Reality (AR) and Virtual Reality (VR) technologies. Offering immersive and interactive content through AR and VR will revolutionise user experiences. The increasing adoption of 5G networks globally will also affect the industry, providing higher-quality streams and more seamless interactivity. Tango plans to capitalise on these trends by investing in research and development, strategic partnerships and emerging technologies.
What role do you see Tango playing in shaping the future of the local tech industry?
Tango aims to play a pivotal role in shaping the future of the tech industry in Cyprus. We provide job opportunities, support skills development and foster entrepreneurship within the tech sector. We promote technological advancements in areas such as AI and VR through strategic partnerships, collaborations and investments. By driving economic growth, attracting foreign investment and fostering a vibrant tech ecosystem, Tango is dedicated to positioning Cyprus as a thriving destination for tech companies and talent.
Interview by GOLD magazine