Dimely is a data platform that pays contributing users. We do market analytics services for small businesses. Our flagship is a buyer persona finder based on AI, that works with product descriptions.
Currently in beta testing
We're targeting young adults in the US that want to sell their personal data and generate a passive income (>$1/day/seller platform average). To bootstrap the marketplace and allow growth we're building novel marketing and analytics services such as free advertising and customer finder targeting small businesses as B2B clients. Our model based on the most pessimistic and conservative assumptions places our market share at $16 mil in 2024, but seeing as it's a new market, we could be looking at one or two orders of magnitude higher.
Problem or Opportunity
Unlike companies, people can't monetize their own data.
Solution (product or service)
We're building a personal data marketplace that we're bootstrapping with novel marketing and analytics services.
Our competition ranges from tech giants such as Google or Facebook, to market research companies such as SwagBucks or Nielsen, or personal data market places such as Wibson, UBDI or snowflake.
Advantages or differentiators
We differentiate from tech giants by opening up our data to anyone and enabling people to monetize their data. We differentiate from other market research companies by offering live personal data streams. Our main differentiation, which sets us apart from all other competitors, including personal data market places is that we passively gather data from all/any app on the mobile device and by doing so generate a passive income source for people.
Our revenue streams are placed in two categories: marketing/analytics services and data market commissions on transactions.
Our marketing services are priced at $0.01 per user reaction. Our analytics services are subscription based starting at $9/month. Our market commission is 2%.
We subsidize data sellers until their revenues from actual market transactions reach a desired target (market average of $1/day/user). We package personal data as market analytics services and sell it to small businesses. We connect enterprise buyers seeking realtime personal data to our marketplace and take a commission out of all transactions. Our primary metric is the all time number of data sellers on the marketplace.
Money will be spent on
Market subsidies - funds also double as marketing because rewards grow proportionally with the number of referrals
Offer for investor
We're willing to offer 10% equity for the first investment of $500k
One risk would be that OS providers such as Google Android and Apple iOS block our app from collecting the data. This is why we're partnering with Google early on to ensure cooperation rather than competition.
Another risk would be that other tech giants open their data to others and allow their users to monetize their data (eg. Libra Coin being used by Facebook to monetize user activity)
Another risk would be that VCs don't see the opportunity. This marketplace model can't scale without subsidies because people will not sell their data unless the amount is reasonable.
Won the competition and other awards
N/A - this is the first competition we enrolled in
There are numerous features that can be patented within our ecosystem but we'd rather not detail them here.