Secretlab

Lore & Background

Secretlab was founded as a startup in December 2014 by Ian Alexander Ang and Alaric Choo, both former professional StarCraft II players. The company's starting capital of S$50,000 came from the founders' savings and went mostly into research and development. Its first product, the Secretlab Throne V1 gaming chair, launched in March 2015, followed by the Throne V2 and Omega in October 2015. In 2020, the company sold its millionth chair.

During the COVID-19 pandemic in 2020 and 2021, demand for Secretlab chairs rose greatly, partly due to office workers working from home. In April 2021, the company unveiled the Magnus, a magnetic metal desk. Secretlab operates its corporate headquarters, a research and development facility, and an esports gaming arena along Braddell Road, Singapore, and has a factory in China. The company has partnered with organizers of official esports tournaments to provide chairs for players, and with HBO to introduce Game of Thrones-themed gaming chairs.

In August 2019, Heliconia Capital Management, a subsidiary of Temasek Holdings, bought a minority stake, reportedly valuing the company at S$200–300 million. Secretlab reported at least 500,000 chair deliveries in 2020. In March 2021, Tech in Asia estimated the company was within striking distance of surpassing US$1 billion in valuation, making it a unicorn. A 2022 University of California, Berkeley study compared the Secretlab Titan Evo with a mesh chair, finding better supportability and seat pressure distribution with the Titan Evo, but minimal differences in comfort, discomfort, and pain.

Reader's Guide

Secretlab's significance lies in its rapid rise from a small startup to a near-unicorn valuation within seven years, driven by a focus on gaming chairs and strategic partnerships. The company's founding by former esports players gave it credibility in the gaming community, and its products received recognition from outlets such as PC Gamer, GamesRadar+, T3, and IGN. The Omega 2020 was named best gaming chair of 2019 by PC Gamer and best gaming chair of 2020 by GamesRadar+, while the Magnus was called the best gaming accessory of 2021 by T3, and the Titan Evo 2022 was listed as the best gaming chair of 2022 by IGN. The company's partnership with HBO for Game of Thrones-themed chairs and its provision of chairs for esports tournaments further cemented its brand presence. A 2022 academic study provided some evidence of the Titan Evo's support advantages over mesh chairs, though comfort differences were minimal. The company also faced complaints in 2020 about chair covering peeling, which the founder attributed to unexpectedly high humidity and said was being addressed. Secretlab's growth during the pandemic, its minority stake acquisition by a Temasek subsidiary, and its estimated 2020 revenue of S$350 million and operating profit of S$70 million illustrate its commercial impact.

Did You Know?

• Secretlab was founded with S$50,000 from the founders' savings.
• The company sold its millionth chair in 2020.
• In 2021, Secretlab unveiled the Magnus, a magnetic metal desk.
• A 2022 UC Berkeley study found the Titan Evo had better supportability than a mesh chair.