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Wedio

The fastest-growing European camera-sharing community.

Denmark
Market: Internet and IT, Information and media
Stage of the project: Operating business

Date of last change: 17.03.2020
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Idea

We make it 40% cheaper, faster and safe to rent and rent out high-end film equipment between owners and renters in the film industry. Today we have more than 2,500 members across The Netherlands, Germany, United Kingdom & Denmark.

Our mission is to keep great stories alive. We achieve this by offering the tools and services that benefit you as a creator in order for you to focus on your craft. We believe that visual content plays a crucial role in the future of communication, and thereby we have a vision of becoming the preferred global community for creators.

Current Status

Today we are live in The Netherlands, Germany, United Kingdom & Denmark (where we have more than 3,000 members).
In September last year, we raised our pre-seed round of €310,000 from key investors from Airbnb, Gaest.com & Startupbootcamp Media, and we are about to raise our series A — summer 2020.

About to launch world’s first pro camera subscription
During our participation in Startupbootcamp Media in Amsterdam, we did experiments towards more flexibility through access, because we firmly believe the future is access instead of ownership. We found that a pro camera equipment subscription gave us breathtaking results, which only underlines the fact that filmmakers' needs and demands more flexibility than what the traditional and conservative market is offering, dictated by the retailers. Furthermore, we see that the purchase market is decreasing and access is increasing – the same pattern as we see in the car industry.
A camera equipment subscription will have clear synergies with our current sharing marketplace – subscribe and rent out your equipment, when you are not using it yourself and let the camera finance itself. If you rent out your camera 2-4 times per month, the subscription will be covered.
We are therefore about to introduce the world’s first pro camera equipment subscription.

Market

Global market of +€83B.

Access instead of ownership is the future, and tomorrow — no filmmaker will own a camera.

1. +50 million creators, who all needs gear.

2. Video is booming, and In no time every company will become a media company.

3. Sharing economy makes expensive goods affordable, and centers a community-based, greener future.

The timing couldn't be better.


Problem or Opportunity

Film and photo equipment is too expensive, and existing solutions call for more flexibility.

1. Too expensive
Buying or renting from existing options are expensive.

2. Too outdated
Technological development knocks out “old” equipment within 12 months.

3. Too risky
Filmmakers are renting from other peers without the necessary safety.

Solution (product or service)

Let creators experience flexibility by renting daily, weekly or monthly so they can focus on their craft.

40% cheaper
Open market forces set the price.

Up-to-date
Renting out existing gear finances the next new model.

3. Safe
World-wide insurance. ID-verified members. Transparent feedback system.

Competitors

Sharegrid
Kitsplit
Gearbooker
Parachut
Jube

Advantages or differentiators

We are the first to achieve international network effects across borders.

1. Global setup
Quick and lean entrance to new markets.

2. Local feeling
Trust through our Local Heros.

3. B2B Focus
Abroad rentals across European borders. Worlds first camera subscription.

Business model

We generate revenue from a total commission of 17% of each short-term rental, and a monthy payment through subscriptions.

Money will be spent on

33.3% = Penetration of Europe (€1.5M)
22.2% = Platform Development & Administration (€1M)
44.5% = Debt facility for 500 subscriptions (€2M)

Team or Management

Risks

1. If the core-founder team split.
2. If another competitor achieve international network effects before us.
3. If our supply of our marketplace do not follow the technological development of video equipment.

Incubation/Acceleration programs accomplishment

Startupbootcamp Media in Amsterdam.
https://www.startupbootcamp.org/startups/wedio/

Won the competition and other awards

We were nominated as bet newcomer at http://nordicstartupawards.com/

Product Video

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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
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Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
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Product Video