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  • sd@turbado 09:34 on November 3, 2014 Permalink |
    Tags: , , investors, , websummit   

    Turbado | WebSummit @ Dublin 2014 | Why does Turbado succeed 

    As the founder of Twitch and Justin.tv, Justin Kan wrote in his blog:

    http://justinkan.com/startups-around-the-world

    “local companies win markets over foreign companies because they are better able to understand and act on local marketplace dynamics.”

    This is one of the main differences between Turbado and companies like Pixmania, Alzashop and others. They think Europe is a single market, but if you go out of your city and country, you will quickly notice, that each of the 28 countries that the EU is composed of, is different.

    Turbado is a local company, in each country it feels as home, local people see it, feel it, experience it as a local company and these individual local companies make Turbado strong, makes us the next billion euros business.

    This is a nice list of potential investors that will attend this year’s WebSummit in Dublin:

    http://websummit.net/investors

    quickly going though them, will give you the confidence you can find an investor for whatever your company does, everyone wants to make money with you.

    To me, the interesting meetings could be with:

    Michaela Jacova from Neulogy – because it is an initiative from Slovakia and it is nice to see the differences how they see the opportunity we offer

    Delta Partners – if those are the guys from Dubai, which funded Virgin Mobile Central Europe and Eastern Europe VMCEE, which could be a great opportunity to offer Turbado services through a Mobile Virtual Network Operator (Lebara?)

    BDMI Fund of Bertelsmann that invested already in similar companies, like Returbo, Frank and Oak or alaTest and Turbado would be a nice addition to their portfolio

    Paul Thiekotter of RI-Digital (Raffay) which have a nice portfolio of european e-commerce projects in Germany and Turbado could be the one that is in each EU country and helps their other project go international

    Allan Majotra of Silicon Valley Bank – I feel the connection with Allan through the love of art, where he created a marketplace for art, picassomio.com and his new work @ SVB could help us to get inventory financing, to have enough products on stock, to offer through Turbado in 6 countries.

    Ali Esfahani of Morgan Stanley – I find him to have a great track of companies he was involved with while their IPO or other exits, I believe he knows best who could invest into Turbado, similar investors that  stand behind Alibaba or Amazon or FB

    Philip Wilkinson, the creator of first price comparison website in UK (shopgenie) and merged into French Kelkoo – I feel his story is very similar to mine, and it could be a nice chat to have, to see what other falls and successes he had

    Highland Capital Partners – Mr. Mullen and Mrs Goldenberg, which are probably not coming to Dublin, but I see their portfolio is exactly what Turbado is. Glasses Direct and Spartoo… Turbado with mobile phones and electronics would nicely add to their great investments.

    Inundata of Shane Naughton – not many info there available online, but TaxStream and his experience of US companies doing business in Europe, taxation and other issues… could be a great chat with him

    Ophelia and Grace of Index Ventures – Grace I feel is close to our interests, with having a great history with Apple, and Apple is in our main focus, and they declare to be interested in eCommerce companies. Well, here we are, would be great to chat 🙂

    Bob van Nordvick of Amazon Web Services – well, are you interested in an early talk of selling Turbado to Amazon when we reach our goals? 28 countries, 1 million orders, 300+ million euros turnover and a nice little profit to it

    Michael Copeland of Andreesseen Horowitz – his focus grabbed my attention: Your company is about to launch. No one quite understands why you’re the next billion-dollar business. WOW, exactly what I feel now

    Turbado WebSummit 2014

    Turbado WebSummit 2014

     

     

     
  • sd@turbado 10:13 on October 14, 2014 Permalink |
    Tags: , investors, , , we need help   

    Turbado | We need your help! 

    Turbado is a network of internet shops in each EU country, based on an innovative business model, where you don’t buy your electronics, but use them as yours as long as you want it and we take care it will just work as intended.

    Since the first idea of creating Turbado, registering its trademark, developing and verifying its viability, changing what had to be changed, finding local managers in several EU countries, opening local companies, offices, finding local tax advisers, lawyers, accountants and throwing money at them to verify our business model works in each EU country, developing our websites, redesigning them for mobile devices, making them more user friendly, secure and easy to order, implemented every local payment and delivery method, implementing the different local legislatures, requirements, languages, translations and different expectations of the local markets, getting us registered to local catalogs, price comparison websites, building back-links, writing and publishing PR articles, further developing advanced functionality of our web-shops, opening our network of warehouses, finding and training the good people to work with, solving local and international logistics, developing a warehouse connector to every our web-shop, daily updating of our prices based on the market situation, talking and meeting with suppliers, distributors, manufacturers, payment processors, credit insurance companies, inventory financing companies, banks, potential investors, and many other tasks that are necessary for running a business,

    we arrived at the stage, where we need external help with financing our inventory, financing our growth into new countries and financing of the initial marketing expenses.

    Until now, we were able to self finance our entire operation, investing over one million euros into the pre-launch stages and arriving to a point, where we are operational in

    HUNGARY | SLOVAKIA | POLAND | CZECH REPUBLIC | SPAIN | GERMANY

    We have 42 staff members that support our company, we have 4 warehouses that are able to fulfill the daily orders and delivery the orders to the customer next business day, we are getting orders every day from each country and we are fulfilling them with over 98% customer satisfaction. And even customers that were not satisfied for whichever reason, get a small gift from us as an apology for not meeting his or her expectations and we learn and advance by solving every large and small problem on the way.

    Turbado was self financed by the money we made in the previous years in TVPartner, a B2B trading company, which is now out of money for 3 reasons:

    1) Most of our focus was on building our B2C platforms, where we invested our time and money (1M euros)

    2) Tax office in Slovakia, Poland and Czech Republic, from where we were exporting the goods we sold, owe us over 3M euros on VAT held back, having open some tax controls for over a year, as trading with mobile phones is apparently a high risk business, and they are checking every inch of our companies and those of our suppliers and of our customers. We just don’t know when will our money be paid back to us.

    3) We don’t have enough stock in our 4 warehouses, as we don’t have means to finance them (point 1 and 2) and this way we are getting way less orders in the 6 countries than what we would with sufficient inventory.

     

    WE NEED YOUR HELP!

    We need:

    1) inventory financing – this is the most crucial for us at the moment, to have enough stock in the 4 warehouses. ESTIMATED 1 million euros is needed in 2014 and 3 million euros in 2015

    2) marketing financing – we need to acquire customers by giving first and receiving later. ESTIMATED 1 million euros is needed to acquire 200k customers, iPhone owners, that will want to upgrade their iPhone to a new one through us

    3) growth financing – we want to open 6-8 new countries every year. ESTIMATED 100 thousand euros per country is needed for the pre-launch stage and another 100 thousand euros per country for the initial marketing expenses

    4) trade financing – this is to get back into B2B as we made 2 million euros profit in the previous 1.5 years, which we invested into our B2C operation and the tax office holds back our money. ESTIMATED 1 million euros is needed to resume our trading business and continue building on the established relationships and experience

    TURBADO investors wanted

    TURBADO investors wanted

    What we give:

    a) Turbado aims to fulfill one million orders a year with a turnover around 350 million euros and profits over 20 million euros (thanks to our innovative business model of long term rental)

    b) TVPartner aims to resume trading, supplying web-shops and achieve over 1M euros profit @ 50M euros turnover in 2015

    c) collateral of over 3M euros which the tax office owes us, secured stock inventory in our warehouses, warehouse building of 1000 m2 in Slovakia that is our property, worth 150k euros; movable properties of around 80k euros,

    d) higher than industry ROI (thanks to our innovative business model), secured by our previous investments and inventory, optionally secured by company stock

     

    WE WANT LONG TERM PARTNERSHIPS

    Our success of having over 80 thousand B2C customers and over 2600 suppliers and B2B customers and stable growth is achieved by our long term vision, long term partnerships with clients, employees and customers and by our efficiency at delivering and keeping delivering even in the more difficult times.

    So if you are an investor, banker, venture capitalist, enthusiast with money, a fundraiser or anyone that can give us support, WE NEED YOUR HELP now.

     
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