Progress records
1
Stage of your startup
Paying users
When did you start
March 2020
City
Dhaka, Dhaka Division, Bangladesh
Definition in 1 sentence
Malamal.xyz in Bangladesh wants to be a leading B2B marketplace and a preferred online destination for small-scale to medium-size enterprise
Elevator pitch
Malamal.xyz in Bangladesh wants to be a leading B2B marketplace and a preferred online destination for small-scale to medium-size enterprises seeking to procure or purchase industrial goods for their businesses. The e-commerce platform aims to make online B2B shopping in Bangladesh.
Are you incorporated?
Yes
Category
Software
Sector
E-commerce & online marketplaces
How do customers use or interact with your product?
Desktop, Mobile/Tablet (iOS), Mobile/Tablet (Android)
Product Demo Video Adress
Video Password
Startup Presentation
Other Documents
Image gallery
Why do you want to attend this program?
To seek mentorship and funding fo grow further
Create Date
Monday, August 17, 2020 18:16 (Murtaza Baquir)

Business model

Describe the problem you are solving
Currently it uses old traditional method which is physical labor intensive and inefficient. The purchase is not transparent, less authentic and customers are not satisfied. Therefore we have created a dedicated diverse variety of Industrial Products for whole B2B sector.
How are your customers solving that problem today?
By visiting the website and having a One Stop Solution of Find, Compare and Buy Option. It has a Auto Quotation Generating Feature allowing to take the prices to get approved by the higher authority. They do not have to physically come to the mom-pop stores to physically examine the products instead by getting order online we provide delivery facilities with easy return policy as well.
Target custormers - Define customers, who are they
How do you plan to acquire customers?
By Marketing and creating awareness in all the industries to find their products online
What is your revenue model or expected revenue model?
We have Commission in every sales we make and hence tend to have different commission on different items ranging from 10-30% depending on the popularity of the product.

Market info

What is your target market?
Our target market is around $4 Billion of the $ 32 Billion which is estimated of our Industrial Hardware and Tools market.
What is your total available market size
$ 800,000,000
What steps have you taken to validate the market?
We have tested our MVP and have had sales with a margin of 20-25%. We have done Marketing on Facebook, Linkedin, SEO and Analytics to get some attention to our page.
Do you have competitors? Please write down the names
Competitor name
Competitor website
Competition: write down competitors and explain
Who are your competitors and how are you different?
We are the first of a kind with a ready SKU products available online with prices. Others are not focused and sell everything from groceries, toys, to home used tools online. None are dedicated to focus on the Hardware & Tools and Machinery.
Traction / KPIs
What progress have you made in the last six months?
We are almost doubling in sales and have queries almost everyday for the products online and through our Facebook page. From April'20 having the sales of BDT 23000 for April now at this moment we have sales of around BDT 90000 in the last month of July'20. In future we plan to grow as we tend to add items everyday into our list to grab a wider share of the market.
How many customers/users do you currently have?
48
What is your monthly growth rate?
Around 30%
Describe traction

Finance

How much runway do you have left(Month)?
3
How is equity divided?
Equity type
Name surname
Email
Equity
Founder
Murtaza Baquir
% 46
Co-Founder
Ali Asgher
% 46
Venture Investor
Bylc
% 8
How much money raised since start?
$ 10,000
Revenue lifetime
$ 4,500
Last months revenue
$ 1,100
Investment round
Target fund to raise
$ 90,000
Equity on offer
% 10
Number of employees
4
Other info Write bullet points (Grants, prizes, acceleration)
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Team

Owner member
Yes
Member role
Co-founder
Name surname
Murtaza Baquir
Title
Business purchases Simplified
Education
Master's Degree
School name
Mastermind School
Birthdate
17 October 1989
City
Dhaka, Dhaka Division, Bangladesh
Short Bio
My name is Murtaza Baquir and have the experience of more then 8 years in the hardware and retail business and have business relations/ ties to make this successful. I have done Masters in Marketing and qualified to grow this business in a much wider scale.
Meeting story with Cofounders
We are Brother working in this Hardware & Tools Business from last 8 Years and have the expertise in this sector and believe in the same vision to make this business online.
Working together time
Well we being Brothers have been with each other all around especially with business we do handle in different sections and tend to divide work equally and try to give our best.
Owner member
No
Member role
Co-founder
Name surname
Ali Asgher
Title
Business Purchases Simplified
Education
Master's Degree
School name
University of Salford
Birthdate
19 February 1988
City
Dhaka, Dhaka Division, Bangladesh
Short Bio
I am hard working person with a eye on the prize. I believe in developing a sustainable model for masses and help to create employment in the Country.