Stage of your startup
When did you start
Manila, National Capital Region, Philippines
Definition in 1 sentence
We're a social eCommerce and group buying platform using Facebook messenger or mobile app. We are inspired to become the "Pinduoduo of SEA".
We are building a platform that enables the buyer to purchase directly from the manufacturer via forming them into a group with other buyers using just social media or, a stand-alone mobile app. We are inspired to become the "Pinduoduo of SE Asia".
Are you incorporated?
E-commerce & online marketplaces
How do customers use or interact with your product?
Desktop, Mobile/Tablet (iOS), Mobile/Tablet (Android)
Product Demo Video Adress
Why do you want to attend this program?
I like to attend this program to be able to expand my network. Also, If I'll be lucky, I could found a partner investor within the network.
Describe the problem you are solving
We are trying to break the supply chain by connecting the consumer directly to the factory via grouping them in order to meet the quantity orders required by the factory.
How are your customers solving that problem today?
We are currently solving it by incentivizing the customer to buy the product with his friends or, by sharing the products he wants to buy and buy it in tandem or in a group with his friends. The more the group that he initiated and will be created, then the more he get money rewards he could use for his next purchase.
Target custormers - Define customers, who are they
How do you plan to acquire customers?
We give users money rewards to be added to his account when he shares the product he wants to buy or his wishlist. The more shares that the customer or potential customer we give them rewards. The sharing is done in social media like Facebook because our platform runs just on top of Facebook making it true social commerce. They could also share it using other social media like viber, instagram, etc.
What is your revenue model or expected revenue model?
The obvious revenue is we get discounts in the factory due to the volume of orders and we put a markup to it that could go up to 100% markup profit. Another monetization comes from the platform that we created that we'll charge around 3% to 10% to the external sellers who would wish to join in the platform and we have traction to this as well. When we get into scale other monetization will come to our fulfillment like we could invite sellers to subscribe to our platform with monthly/annual charg
What is your target market?
Our target market consists of users who are the existing online shoppers in the Philippines. Our SAM is 42M according to the 2018 data and it has grown twice since the covid.
What is your total available market size
What steps have you taken to validate the market?
I have to be honest that we studied Pinduoduo and test the sharing and giving rewards to the customers. We also, test to get tandem buying and connecting to the factory to give a great value of price to the customer. So far being an aggregator works though it is cash-burning if done on a large scale or, to take it to the next level.
Do you have competitors? Please write down the names
Competition: write down competitors and explain
Who are your competitors and how are you different?
Our competitors are the leading retail marketplace in the Philippines right now. We are different because we are directing the consumer to purchase to the factory which will give them a great value of their money via rewarding buyers to purchase in group.
What progress have you made in the last six months?
Since we just launched in Nov 2019, what we have achieved so far is that we were already to get a customer and has at around 3K monthly active users. We know that this is wrong when starting but, we have already got revenue and prioritize this because we have limited funding. We have launched a true social commerce platform that runs on top of Facebook and as well it runs as a stand-alone mobile app.
How many customers/users do you currently have?
We have currently around 3K monthly active users.
What is your monthly growth rate?
Our monthly growth rate is around x2. We could improve this with the help of capitalization so we could give more rewards to customers to be able to grow faster.