Photo - Dimely
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Dimely

Liberalizing access to personal data streams

Romania
Market: Internet and IT, Blockchain, Mobile applications
Stage of the project: Prototype or product is ready

Date of last change: 01.07.2020
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Idea

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.

Current Status

Currently in beta testing

Market

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.

Competitors

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.

Finance

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%.

Business model

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
Software development

Offer for investor

We're willing to offer 10% equity for the first investment of $500k

Team or Management

Risks

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

Invention/Patent

There are numerous features that can be patented within our ecosystem but we'd rather not detail them here.

Photos

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Photo 2 - Liberalizing access to personal data streams
Photo 3 - Liberalizing access to personal data streams
Photo 4 - Liberalizing access to personal data streams
Photo 5 - Liberalizing access to personal data streams

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