Newpulse Solutions SB Seeking funds for developing Spotaroom.com version 2

Newpulse Solutions SB Seeking funds for developing Spotaroom.com version 2

EXECUTIVE SUMMARY

Newpulse Solutions is ready to move forward to develop Spotaroom.com version 2 to replace its existing BETA version. The new version will focus on providing our leisure travelers and business travelers with a variety of travel related services for South East Asia destinations. Contrary to the BETA version, the new version of Spotaroom.com separates leisure travelers and business travelers and focus on meeting their specific travel needs.

Business Description

Our business is to provide an online platform where leisure and business travelers can easily book accommodations, make travel arrangements and research their destination online in an engaging way. Spotaroom.com wants to taps on the unattended needs of leisure traveler who find online travel planning as time consuming and inconvenient. At the moment, leisure travelers have to visit multiple websites to make travel arrangements such as hotels, tours and transportations. To add to the problem, most travel related websites has limited or no travel guide for visitors to research their destination.

Other than that, hotel reservation portals in the market do not provide facilities for hotels to create their own dynamic packages for the hotel such as honeymoon packages, golf packages or Formula 1 packages. Visitors will only be able to choose rooms with or without breakfast. We intend to introduce dynamic packaging features to enable hotels to create packages based on activities, events and festivities. Hotel dynamic packages will definitely save our customers time and money.

These days, business travelers book hotels through the same channel as the leisure market. This is mainly due to most small and medium companies could not commit to the number of room nights required by the hotels to enjoy corporate rates. There is a need for a new booking channel to specifically cater to small and medium companies in order for them to save on accommodation expenses and other travel arrangements. Spotaroom.com aims to provide business traveler with negotiated rates, transport arrangements and other travel or business related services. Companies need to register their business with us to enjoy our corporate access special privileges that we offer.

Most hotel reservation portal uses point or cash back reward program. Bookers these days do not consider it to be the main reason for loyalty and would prefer to be rewarded instantly. We understand that for leisure travelers, shopping expenses commands a big percentage of their spending and this is often overlooked by them. In view of this, Spotaroom.com aims to introduce free shopping vouchers as a reward system that will be unique, relevant and can be redeemed immediately. This will help our customers to save on shopping expenses while on vacation and will also help local businesses to drive customers to their outlet or stores.

The current trend for travelers today is to bring at least one smart mobile device. Travelers are using their mobile devices during trips to explore, navigate and book travel and they are hungry to do even more, according to PhoCusWright’s study of the travel activities marketplace, When They Get There (and Why They Go): Activities, Attractions, Events and Tours.

Some hotel reservation portals in the market do have their own mobile application but only limited to hotel bookings and hotel location finder. In view of this trend, Spotaroom.com intents to provide free mobile application as booking incentive where bookers can manage travel objectives, book hotels, locate hotels, locate nearby restaurants, redeem shopping vouchers, view travel guide and even have their own eTour Guide.

Traction

Newpulse Solutions has so far created Spotaroom.com BETA version and would embark on the version 2 of the portal to capitalize on the growing online hospitality and tourism industry and the gap that exist in the market. We currently have 200 hotels from around South East Asia and received hundreds of bookings from all over the world. Our objective for the BETA version was to test the acceptance of our target customers and collecting valuable data. Although we have built the portal without any reward program, limited number of hotels and with limited amount of monthly marketing funds, we are still able to receive hundreds of bookings not only from Malaysia but from all over the world.

Management Team

Reynolds Chua Guan Teck (CEO).

Founder of Newpulse Solutions Sdn Bhd and Spotaroom.com.
Has 5 years experience in hospitality industry in the capacity of IT Manager in Hotel Istana Kuala Lumpur and Le Meridien Kuala Lumpur.
Part-time Project Management trainer and Network Security Administrator trainer for EC-Council.
Experienced in web designing and development and has successfully developed web projects for 8 clients to date.
Uses own funds for the early development and marketing of the Spotaroom.com BETA version.

FUNDING REQUIREMENTS

Funding required
In order to achieve substantial growth, Newpulse Solutions is seeking RM986,300 of investment funding for the first phase for set up of Newpulse Solutions office, capital expenses, operating expenses and advertising for the first year of operation. The most money spent will be on salaries of our high-skilled personnel and advertising Spotaroom.com via online and offline.

Use of proceeds
Newpulse Solutions will carefully use the funds to set up the office, hiring high-skilled personnel and advertising the portal via online and offline advertising.

Equity interest exchange
Newpulse Solutions will allocate 30% of the equity to the angel investor for the funding amount of RM986,300 and various assistance and mentoring given to Newpulse Solutions.

Exit strategy
Newpulse Solutions’ exit strategy is to buy back equity from angel investor or through acquisition by a larger online travel portal.

Funding history
Our start-up cost amounted to RM100,000 was raised by the founder due to his commitment to dominate the online hospitality and tourism market place. The funds were used specifically to develop the BETA version of the portal and to market it online.

CONTACT INFORMATION

Reynolds Chua, the founder and CEO
Mobile: 012-636 6998 or email: reynolds.chua@newpulse.com.my

Company : Newpulse Solutions Sdn Bhd
Company reg. no : 691969-x
Date founded : December, 2008
Company address : Level 28, The Gardens South Tower, Mid Valley City, Lingkaran Syed Putra, 59200 Kuala Lumpur, Malaysia (Virtual Office)
Industry type : Hospitality / Tourism
Company stage : Early Stage

CAPITAL.MY