Super App in Asia(Singapore Company) is looking for expansion
What is your idea / business and to whom is it addressed?
We are an e commerce platform in Singapore that cater hotels booking, online shopping and ride hailing to consumers in an all in one APP. Consumers will just need one app for all services that they need. We are a B2C platform that provide solutions provide a fair price for consumers and making sure that there is sufficient earning for our vendors. We have done a soft launch in Nov 2019 and till feb 2020 we have achieved USD300,000.00 in revenue. We market our platform thru various marketing channel such as, Facebook, Instagram, youtube, google, franchise commerce. We realise that most consumers are more prominent to shop online. Thus as for those unicorn in the market, their business plan might not make instant return as their positioning are not meant to be profitable within 5-10 years due to their high expenses.
How should the idea/business earn money?
we have a nett profit of 1-3% for every revenue that is generated in our platform. Our current burn rate is about USD8,000 per month.
At what stage is the idea / business at the moment?
We are now at the acquisition of vendors and consumers stage. We are looking at a breakeven by Dec 2020.
What do you need?
we need funds for marketing and expansions as the current market situation is giving alot of opportunity to get things cheap.
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