Eventda, the Online Digital Comparison and Booking Platform for Event Spaces and Services with guaranteed lowest price

Eventda, the Online Digital Comparison and Booking Platform for Event Spaces and Services with guaranteed lowest price

Current Status Pre-Revenue
Amount Invested RM450,000
Funding Required RM300,001 to RM600,000
Description Eventda Sdn Bhd is a MSC-status e-commerce company which was incorporated on 15 June 2016. Eventda provides an online marketplace for comparison and booking of event spaces and related services. Its listings include hotels’ function rooms, ballrooms, and meeting rooms along with other offerings such as photography, videography, emcee, sound and lighting & performances. Users can now plan and book their entire event on Eventda, pay, attend the event and enjoy while the service providers take care of the rest!
Business Opportunity Market Size:
a) Corporate
Based on MCEA,Malaysia Convention & Exhibition Bureau *case study, business & major events alone has RM18b in economic value.

b) Weddings
With an average of **300,000 mariages each year in Malaysia at an estimated RM30k spend/couple, bring us to a RM9b market.

Problems we are trying to solve:

•Compare live pricing and book instantaneously without having to wait for quotations from multiple sites and people.
•Ability to negotiate via chat functionality
•Ability to check availability of service providers immediately through calendar functions

b)Service Providers
•Increase space utilization
•Increase visibility and transparency. Matchmaking service providers & customers on global scale
•Enjoy free marketing through platform
•Mobile office

Revenue / Business Model EVENTDA’s revenue sources are as follows:

i. Commissions taken for each successful booking for each segment on our platform (10-15% depending on type of service sold)
ii.Additional advertisement placed out by SP’s on Eventda.com including ad space/banner placement

Management Team Kushwin Kaur
•A Management Consultant with Axcelasia Inc. She has led advisory-related engagements covering internal audit, enterprise risk management, business process improvement and fraud investigation for GLCs and MNCs in Malaysia and Indonesia. She has also advised with VCs, fund providers and a corporate registrar in Malaysia.
•She is well exposed to the challenges faced by start-ups and how to remedy them. She is familiar with the key processes and best practices required for a company and even for start-ups. Her knowledge in internal controls, risk management and all things business will ensure our decisions are made with a proper consideration on risk factors and best practices in day-to-day operations.

Dabraj Sing:
•Formerly from Ersnt & Young and went on to join Lion & Lion, Southeast Asia’s fastest growing digital marketing company as a CFO. In Lion & Lion, Dabraj worked with former Rocket Internet MD & Groupon Asia founders, Mads Faurholt Jorgensen and Raphael Strauch who now successfully runs Compare Insurance group around the world.
•His strong marketing, financial and commercial background will add great value to this project in ensuring our finances are kept in check at all times and all regulatory requirements are adhered to. Dabraj’s knowledge in digital marketing will be essential is scaling our brand name to greater heights.

Company Background Business registration date: 15 June 2016
Platform Launch Date: 1 June 2017
Investment Made to date: RM100k from shareholders, RM250k from private investors
Sales per FY 2017: RM213k
No of service providers: 250 including but not limited to likes of Marriott KL, Equatorial, Armada, Sime Darby and others
Funding Milestone Digital Marketing & traditional marketing expenditure for Malaysia RM200,000
Investment in sales and business development personnel RM200,000
Product expansion, improvement on the current platform and development
of integrated app RM100,000

Total RM500,000

Note: The management team believe that this funding will be pivotal to achieve profitability of the Malaysian market.

% Equity Allocation Up to 20%
Expected ROI 15x in next 3-4 years
Risks and Mitigation a) Strengths/Weaknesses/Opportunities/Threats (SWOT)

i Strengths
• Real-time booking with prices upfront
• Eliminates quotations and saves time
• Numerous payment option; service provided by MOL payment gateway
• Allows cross-country and continent booking with systems ability to factor in transportation cost and additional surcharges
• Chat function that caters for negotiation and final agreed price is automatically captured by the system for payment purposes

ii Weaknesses
• High initial marketing cost to acquire customers
• High initial investment to educate the consumer on the service provided by the platform and its benefits

iii Opportunities
• Using Big Data Analytics to understand customer preferences and increase conversion

Iv Threats
• New competitors adopting a similar business model

b) Type of Risks and Mitigating Factors

i) Technology (Cyber Security Threat)
– SSL, Firewall Installed, hourly backup of data and source codes to cloud storage system to enable instant platform restore

ii) Financial (Funding Constraints)
– Source for government grant, investment from angel investors and venture capital firms

iii) Operational (Customers bypassing the website directly to suppliers)
– Prices on Eventda to appear cheaper as compared to price on counter at all times
– Hotels requiring board approval for additional discounts inherently protects Eventda from price discrimination

iv) Market (Seasonal Sales)
– Focus on corporate clients who generally carry out seminars, training and events throughout the year

Exit Strategies a) Merger or Acquisition
– Investors would be able to exit during the merger & acquisition

b) IPO
– Investors will be allowed to sellout the shares during the IPO

c) Sale of shares
– In the event investor obtain an offer to sell his/her shares, approval can be obtain from board of directors to complete the transaction

Company Name Eventda Sdn. Bhd
Website/Facebook http://www.eventda.com
Business Address A2-20-2, Soho Suite @KLCC, 20th Floor, No 20, Jalan Perak,50450, Kuala Lumpur
Contact Person Kushwin Kaur