|Funding Required||RM300,000 or less|
|Description||Looking for a property for rent in current available websites are difficult, multiple messy entries, inaccurate and lack of information, not able to filter room preferences based on important factors. Room rental websites should be as easy as hotel rental websites. We designed a table system that fits in important variables such as type of property, gender and races preferences, price range, and also accurate availability date for the users to search for their preferred properties. We have also integrated a map view, whereby users can see directly where is the property and it’s surrounding, also with the relevant filters.
Our next step is to develop an app for this website to make it more accessible to users.
|Business Opportunity||We have currently 100 registered users, with around 20 of them are property agents. Hostelhunting and Ibilik dominating the market, Ibilik sold for RM13.5million in year 2013 and are still growing currently, we see the opportunity for a better systematic way for both the tenant and landlord.|
|Revenue / Business Model||1) Advertisement from property developers and also traffic flows
2) Big Data for property developers, restaurants, food deliveries companies, and also marketing companies.
|Management Team||Founder, Alfred Tew is the regional manager responsible for Southeast Asia region of a German medical equipment manufacturing company. He has a wide exposure on marketing activities in different customer segments, and also high exposure to the latest trend around the world as he is a frequently travelling. His main responsibility in this team is leading the marketing and identify business opportunities.
Managing Director, Chio Chin Kiat, has vast experienced in managing projects. He overseen daily operations of a manufacturing team, and is responsible also for the finance, budget planning, quality assurance. His main responsibility will be managing the daily operation of our company including the legal processing and taxation.
ICT Director, Ler Wei Lik, he is currently a back end system developer for one of the most complicated industry, the casino and resorts company. He is very familiar with the ICT systems, programming language, and server maintenance. He will be responsible for the development and stability of the website and mobile app.
|Company Background||We are an app and website development company. To date we have a few projects on-going. We are relative new player in the market, and are looking for an investor to grow with us and scale it to a bigger market. To date, the EROOM website, which is one of our project, we had secured 100 registered users. 20 property agents, and the numbers are growing constantly.|
|Funding Milestone||1) Social Media marketing (RM100,000)
2) EROOM App Development (RM60,000)
3) Legal Professional Fee (RM20,000)
4) Operation Fee (RM120,000)
|% Equity Allocation||30%|
|Risks and Mitigation||The running cost of the website and app is relatively low. They are just some server maintenance cost.|
|Exit Strategies||We are aiming to sell the whole system in 3 to 5 years, and valuation to be 10% higher than iBilik, around RM15Million with all the database.|
|Company Name||LCTT Applications|
|Business Address||29-17, First Floor, Jalan pesta1/2, Kg. Kenangan Tun Dr. Ismail, 84000 Muar, Johor|
|Contact Person||Alfred Tew|