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B2B Review Platform

Canada
Market: Internet and IT, Another
Stage of the project: Prototype or product is ready

Date of last change: 16.04.2019
Min investment
$  250.000
Total required
$ 4.000.000
Rating
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Idea

We provide user with verified information & therefore grant the confidence which is very important for everyday business management. Qleero is intended to help companies to manage their business and assess risks associated with customers & partners.

Current Status

Beta version is ready

Market

According to official data, 1,159,136 businesses are registered in Canada only, while in the USA there are 5,786,463 registered businesses.e consider ourselves as realists, so we have eliminated non-employer firms, and we assumed that 40% of companies are not currently in a functional state. Thus, our potential customers to be are 3,745,088 companies in USA and Canada.

Available Market
North America 3,7M clients = market value $5B
North America+Europe +Oceania = 23.6M users

Problem or Opportunity

To date, the available sources of information about the reliability of the company are a credit score of the company, existing partner references and online reviews. A company that is searching data and verifying information about a new partner or client is still at risk to be deceived or to run into an unscrupulous partner, because:
1. Credit score of the company provides information about the financial situation only. Waiting time is currently standing up to three days.
2. References provided are always positive, which also does not always reflect the real situation. Re-checking by tel. and e-mail takes time and it is not possible to get an answer at all times.
3. Most of review web-sites and Google may not be credible, because their reviews:
- are not supported by evidence,
- do not describe the real picture of relationships with partners and customers,
- serving increasing of company’s rating, her image and products,
- most of negative reviews are removed.

Solution (product or service)

Create a system / platform for B2B only, based on reviews from real partners and customers.
*With services:
-reliable information about other enterprises
-partner search
-leave a positive review or complaint about another business
-to advertise own business
etc.....

Competitors

The competitive field within the Reviews industry is diverse, having a multitude of websites available to customers. There are more than 30 business categories, and within them more than 300 niches review sites.
Qleero's main competitors are sites that provide an opportunity to review businesses and credit score report for companies.
1. Direct Competitors:
Qleero’s most straightforward competitors are Better Business Bureau (BBB), Dun & Bradstreet (d&b) - credit score websites, Yelp – reviews platform. Direct competitors include:
- Better Business Bureau (BBB)
- Dun & Bradstreet (d&b)
- Yelp

2. Indirect Competitors:
Qleero’s indirect competitors consist of review websites that offer a wide range of services that are not solely focused on business users. Indirect competitors include:
- Trustpilot
- Google
- Facebook

Advantages or differentiators

Qleero’s main competitive advantage compared to the numerous reviews platform available on the market lies an obligatory condition for each review to attach proof (bill, invoice, print screen of e-mail…), any document or print screen which shows that there are trade or partnership relations between companies.
Qleero is intended for a business audience only and the rating will be built from reviews of other businesses, which will also guarantee its (rating) objectivity.
Qleero's pricing is not aggressive.

Finance

2018 2019 2020 2021 2022

Revenue $ 1,826,772 3,438,079 4,873,267
Expenditure $ 5,000 506,449 717,613 1,112,409 1,097,817
Profit (Loss) $ -5,000 -506,449 1,109,159 2,325,670 3,775,450

Business model

Our product are "reviews" that users leave on the platform.
Team Qleero checks provided review to ensure the accuracy of the information.
In the early stages we will use 3 marketing channels:
- SEO: Google, Bing
- Social media: LinkedIn, Facebook, Twitter, Google+
- Email marketing
Two more marketing channels will be included later:
- Banner Ads
- Partner program
Qleero will sell her services Online:
- Pay-Per-Use
- Subscription

Money will be spent on

Funding Request and Use of Funds
Qleero is currently seeking seed funding of $650,000. $84,000 will be spent on startup and organizational expenses such as development, rent and office equipment, consultants, etc. The remaining $566,000 will be spent on sales, marketing, personnel and operating expenses. The Company anticipates seeking an additional $3,000,000 in the beginning of year 2 in order to finance capital costs in years 2 and 3 that will be necessary to support the Company’s growth.

Offer for investor

We are open to discussion. We will at the meeting ....

Team or Management

Risks

- Barriers to entry
The most significant obstacle to entry is the attracting of the audience due to the saturation of the market in B2C (business-to-consumer), C2C (consumer-to-consumer), C2B (consumer-to-business) niches. To overcome this barrier, and overcome the obstacles brand recognition challenges, it will take investments in marketing, which will increase the cost of a startup in the early stages.

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Photo 1 - B2B Review Platform

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video
Website address