Photo - iTask
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iTask

Streamlining the way people engage services

Singapore
Market: Services, Artificial Intelligence, Mobile applications
Stage of the project: Operating business

Date of last change: 19.06.2021
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Idea

In Southeast Asia, When we talk about transportation, Grab comes to mind and when we talk about accommodation, Airbnb does. The same goes for product ecommerce where we have Lazada and Shopee. What about a service consumer marketplace?

iTask, we aim to streamline the way people engage services in daily life and empower local services providers to uncover the true potential of services provider’s skills.

Current Status

Created more than $2M services request in iTask, and more than 100K registered users in iTask, our sales revenue compounding growth 20-30% and been expanded in Singapore & Malaysia.

Market

Southeast Asia Labour force market with more than 300Mil

Problem or Opportunity

In our daily life, a google search alone does not equate to finding a quality and skillful local service provider. Often times, the results would turn up websites from service provider without reviews or price transparency that makes us question its reliableness and trustworthiness.

Because of this, time is wasted on finding the right services we want. Furthermore, the services we need all come from different places whether its from other websites, mobile apps or word of mouth.

As such, the main problem we’ve faced is that the market for local services in South-east Asia is quite fragmented and lacks transparency.

At the same time, local service providers face challenges in seeking customers to earn extra income and struggle with showcasing their skills on the platform to grow their business.

The effect of Covid-19 pandemic fueled the ecommerce surge but there is less focus on local service provider offering services such as cleaning, plumber, house movers and more.

Solution (product or service)

We aim to streamline the way people engage services in daily life and empower local services providers to uncover the true potential of services provider’s skills.

Starting with Taskers, we will bring onboard service providers by verifying them based on their skills. Secondly, it will be categorized and price transparency will be ensured by the units they offer (per service, hrs, km…).

Thirdly, our review system will allow our community to leave positive reviews and ensures that quality Taskers will only appear in the top ranking. We will also add labels to each Tasker based on the criteria they fulfil: respond quickly, high quality and high demand.

As for customers (Requesters), they are able to browse from services that are available. If they are unable to find the service they want, they can simply post a task and it will match them to a suitable Tasker based on the skills they are looking for.

Competitors

enclosed my deck includes these details, Competitive advantages and we do have another detail for this segment in pdf as well.

Advantages or differentiators

1. Different Business model, iTask not only focus home service (B2C) but also business services (B2B). And even revenue model different with Kaodim, not all services in lead fee like Kaodim. Why we take commission in some service sectors, not lead fees because culture in S.E.A difference, spending culture different and every service sectors different requirements
2. Start from freemium, marketplace that allow users free post task and offer services then analyse those high demand, high matching services sector,

Finance

business model in the platform simple and straight forward. All service providers can come on board for free. Once they hit a certain sales figure monthly, we will then take commissions or lead fees from them.

Business model

enclosed my deck includes business model and revenue model

Money will be spent on

Mainly for upscaling & Marketing. 42.09% will be employees wages; 36.6% will be Marketing expenses.

A separate document detailing the breakdown of funding requirements and the business proposal is available upon request.

Team or Management

5,00
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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
Presentation