Velapp (Video Editing Live application) is billed the world’s first live video editing app and can be downloaded on the App Store – unsurprisingly, as de Min is something of an Apple aficionado.
In fact, 26-year-old de Min found himself in a room with Apple co-founder Steve Wozniak, thanks to an ingenious idea to offer him a lift to a conference with a Rolls-Royce in order to get his attention.
Time with Wozniak proved to be invaluable, as De min’s live video editing creation earnt the praise of the Apple pioneer.
Talking to us as part of our Business Class section, de Min opened up on his business journey and lifestyle insights.
(1) Were you born into wealth or has your success been self-made?
I wouldn’t say we were wealthy, but I had a comfortable upbringing. I was very fortunate that my parents invested into my education, which gave me the confidence to trust my instincts to start my own businesses.
(2) How much did your first job pay?
At 16 I really wanted a MacBook Pro as all my friends were getting them at the time, and I also loved Apple. My parents said no, if you want one you need to get a job and earn it yourself. That day I went to the golf course and got a job at the restaurant.
It was one of the best summers I had working at all the events, weddings each weekend working sometimes 14-hour shifts, but I loved working there! It became not about the money, but it felt more like a family as the team were so much fun to work with.
My boss ended up becoming, to this day, one of my closet friends 11 years down the line. Working there taught me the value of hard work and the importance of enjoying the work environment, because time will fly by when you’re having fun! At that time, I was on minimum wage.
I would say my first real job was in video editing and post-production in London. I worked for the top production company at the bottom as a runner. I ensured sure I made the best tea and coffee every to try impress everyone. I started on a basic salary of £18,000 per year, but I worked my way up very quickly within the company.
(3) You have achieved success in video editing and production, just how lucrative has the market been for you and why?
I feel like we have only just started. Video, as Mark Zuckerberg said recently is a “mega trend”, and we have developed an application that adds value to the top five downloaded apps in the world, which all happen to be social apps.
There is a video war right now between the big tech companies and I believe Velapp will create a more enjoyable editing experience across all the platforms. Velapp is set to disrupt a multibillion dollar industry in the consumer and professional markets.
(4) What has business leadership taught you about money management?
As a founder, taking on larger investments for Velapp has enabled me to develop rounded skills in every area of my business and money management is key to ensure we don’t overspend in certain areas.
As I’ve learnt from experience, budgets always tend to go over. I’ve now become even more vigilant when it comes to spending money.
(5) Tell us about your smartest investments
I had made a very early investment from money I saved into a penny stock company, which fascinated me.
About five years ago I heavily invested into quantum dot technology after weeks of researching the company, I still hold many shares there and have seen more than tenfold return.
I also always say investing into your personal growth and education is where you will see the best returns.
(6) Do you get more satisfaction from spending or saving your money?
Before I was running my own business and had fewer responsibilities, so even though I saved towards investing I would still spend money on clothes and going out a lot more than I do now.
In recent times, I would much rather put money towards my company, which in turn has made me far more frugal on my spending habits.
(7) What’s the most exciting element of running a business?
One of the areas in my business that I thrive on the most is networking. I’ve always been a people person enjoyed meeting like-minded people. It’s often said, your network is your net worth.
Now building a tech company in an industry I’ve always loved, video editing, it’s incredibly motivating to develop something that people get a lot of value out of.
It’s a humbling moment when I explain Velapp to total strangers, when they get the light bulb moment of how it works and how simple it is to use, usually followed by a comment along the lines of “I can’t believe this hasn’t been done before”.
(8) What are your most expensive hobbies?
My hobby used to be filming, and now my hobby has become my life/work. Alan Watts, one of my favourite philosophers, once said: “This is the real secret of life – to be completely engaged with what you are doing in the here and now. And instead of calling it work, realise it is play.”
(9) Most prized possession?
My mind… and my iPhone.
(10) Do you have a favourite luxury brand?
Apple all the way.
(11) Where has your most luxurious holiday taken you?
In terms of pure luxury, it has to be on a super yacht in the south of France.
However, by far the most enriching holiday will have been spending quality time with my brother, during an epic adventure driving motorbikes across the Himalayas – which ultimately led me to conceptualise and develop Velapp out of the frustration of editing 325 hours of footage.
(12) Excluding property, what has been your most expensive purchase?
Apart from shares in the nano tech company, I paid to file several international patents in the video space.