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Kolektiva - Jeffrey Treichel

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Kolektiva - Jeffrey Treichel - The Moment of Truth

Kolektiva - Jeffrey Treichel - The Moment of Truth

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  • 1. Investor Pitch Full - 2 18 08 1 The Moment of Truth October 27, 2010
  • 2. Investor Pitch Full - 2 18 08 An interesting thing happened last week… 2
  • 3. Investor Pitch Full - 2 18 08 An observation is made … 3
  • 4. Investor Pitch Full - 2 18 08 WHAT?!!! 4
  • 5. Investor Pitch Full - 2 18 08 Can we buy, can we buy? 5
  • 6. Investor Pitch Full - 2 18 08 And then in Serbia … 6
  • 7. Investor Pitch Full - 2 18 08 But Croatians are least likely to buy ANYTHING online! 7 *Source: Nielson, Global Trends in Online Shopping, June 2010
  • 8. Investor Pitch Full - 2 18 08 Exactly … WTF ?! 8
  • 9. Investor Pitch Full - 2 18 08 9 Deal is SIMPLE: 1 city, 1 huge deal, 1 day We offer 50-90% off fun things to do If enough people buy in, the deal is on! Time limit =viral, word-of-mouth effect If deal works, buyers receive e-coupon • Buyer simply prints and redeems any time
  • 10. Investor Pitch Full - 2 18 08 10 Intriguing, Indeed
  • 11. Investor Pitch Full - 2 18 08 11 Intriguing, Indeed
  • 12. Investor Pitch Full - 2 18 08 12 S&P 500 Index Bad Day!!!
  • 13. Investor Pitch Full - 2 18 08 13
  • 14. Investor Pitch Full - 2 18 08 14 Let’s travel back in time … • The economy was tanking … With no end in sight
  • 15. Investor Pitch Full - 2 18 08 15 What are pain points in Croatia & Serbia? • Small business problems - Fewer customers due to recession - No idea how to start with marketing - Agencies are expensive - No guaranteed results • Problems for customers - Tightened budgets due to recession - Either laid off, or working 1.5+ jobs - HIGHER taxes
  • 16. Investor Pitch Full - 2 18 08 16 How can they be solved? 1) Create/Advertise deal 2) Gather customers 3) Deliver customers 4) Guarantee a result
  • 17. Investor Pitch Full - 2 18 08 17 Collective buying model could work … • Small business problems - Fewer customers due to recession - No idea how to start with marketing - Agencies are expensive - No guaranteed results • Problems for customers - Tightened budgets due to recession - Either laid off, or working 1.5+ jobs - HIGHER taxes • Small business solutions - Deliver 1000’s of new customers - Kolektiva creates ads - Zero upfront costs - We guarantee results • Solutions for customers - 50%+ off on great things to do - No hassles, redeem anytime - Pay LESS PDV
  • 18. Investor Pitch Full - 2 18 08 18 … Except almost NO ONE in ex-YU buys online!!!
  • 19. Investor Pitch Full - 2 18 08 19 Why not?! • Identify pain points • Competitive advantage can be created through superior customer insight and understanding • Companies that create products/services that meet customer needs will win if they can relentlessly execute against superior insights
  • 20. Investor Pitch Full - 2 18 08 20 Croatian online shopping experience • Small market issues -Largest sites still don’t have scale for great discounts -Niche sites are almost invisible • Few incentives to buy online -Online is often a MORE expensive channel -Distribution of physical goods is problematic -Limited online payment mechanisms • Consumer issues -Mentality of wanting to touch & feel merchandise -Security, fraud concerns
  • 21. Investor Pitch Full - 2 18 08 21 Kolektiva delivers a SUPERIOR experience Avg Cro/Serb e-commerce site • No incentives to buy • Poor customer service • Lack of transparency • Cost/hassle of shipping • Cost of returns • Items not in stock
  • 22. Investor Pitch Full - 2 18 08 22 Kolektiva delivers a SUPERIOR experience Avg Cro/Serb e-commerce site • No incentives to buy • Poor customer service • Lack of transparency • Cost/hassle of shipping • Cost of returns • Items not in stock KOLEKTIVA • Exclusive, attractive deals • Customer loyalty team • Fully transparent • Immediate delivery @ no cost • No cost to return • Consumers trust auction model
  • 23. Investor Pitch Full - 2 18 08 23 Deal # 1 - June 15, 2010 • 36 coupons sold • Kolektiva in 5 cities, 2 countries • 8.500+ TOTAL coupons sold Deal #1 - Jan. 22, 2010 • 42 coupons sold • Kolektiva present in 1 city Kolektiva’s evolution
  • 24. Investor Pitch Full - 2 18 08 24 • Award for most innovative contribution to e-commerce in 2010 Kolektiva as an innovator
  • 25. Investor Pitch Full - 2 18 08 25 Michael Brehm CEO & Founder Previous Executive Director of Germany's biggest Social Network (VZnet Netzwerke) Michael Brehm CEO & Founder Previous Executive Director of Germany's biggest Social Network (VZnet Netzwerke) Stefan Glänzer Chair & Co-Founder Founder of Whitebearyard.com and Executive Director at mendeley Ex- CEO of Ricardo & last.fm Stefan Glänzer Chair & Co-Founder Founder of Whitebearyard.com and Executive Director at mendeley Ex- CEO of Ricardo & last.fm Our partners
  • 26. Investor Pitch Full - 2 18 08 So where are we now? 26 Most Deals Sold: 8.592 Most Deals Sold: 269 Most Deals Sold: 1.376 Most Deals Sold: 5.725 Most Deals Sold: 11.708
  • 27. Investor Pitch Full - 2 18 08 27
  • 28. Investor Pitch Full - 2 18 08 So what’s going on in Serbia? • Online payment is a HUGE pain point -Only 7,6% of sites claim to offer “online” payments/uplatnica)1 • No startup culture? • No credit/debit cards? • Paying online isn’t safe? - Online fraud big in Serbia? - No trust in banks? • Banks open for business? 28 • Uplatnica have a major breakage rate. It comes down to the moment of truth! • We’re all here aren’t we?! • 914.402 individuals w/ 1.169.528 CREDIT CARDS in Feb. 20092 - 0,5% fraud claim rate in Serbia3 , 1.13% in USA!!!4 - 48% trust banks, but ONLY 26% trust gov’t!!!!5 • Impossible to hook up to payment gateways, no competition, no PR, no discussion on safety!
  • 29. Investor Pitch Full - 2 18 08 So what’s really going on in Serbia? • Critical mass is formed • Tipping point for e-commerce adoption still elusive • Serbian checkout is complicated, time consuming - Register as user on Kolektiva  1 click FB connect - Intent to purchase  Fill out info  Accept terms/submit - Register as user on EMS  4 step process - Accept terms - Register on EMS - Choose card - Enter card info/pay 29 *Source: Clifton, Advanced Web Metrics with Google Analytics, 2008
  • 30. Investor Pitch Full - 2 18 08 30 The Moment of Truth? • Group buying and social commerce have the potential to “tip” e- commerce adoption • Tens of thousands “friends” in social networks are interested buyers • If Croatians are willing to buy in Serbia, why aren’t Serbs? - Requires more proactive focus, funding, development, attention and PR from banking sector - Requires competition - Requires easier, more integrated payment solutions  APIs  1 click process - Requires lawsuits and swift decisions against cheaters and illegal webshops - Requires bloggers in this room to discuss the issue, take a stand! • We’re on the cusp of making it happen. It’s the moment of truth …
  • 31. Investor Pitch Full - 2 18 08 31
  • 32. Investor Pitch Full - 2 18 08 32 External Sources 1. Republički Zavod za Statistiku Srbije (RZSS), Upotreba Informaciono-komunikacionih tehnologiji u Republici Srbiji, 2010. 2. http://www.bifonline.rs/vesti/article.php?storyid=294 3. RZSS 4. https://www.paypalobjects.com/html/mit-1201.html 5. Goran Tintor, GFK Belgrade Custom Research Director http://www.gfk.rs/public_relations/press/articles/005902/index.en.html