Current Status Pre-Revenue
Amount Invested RM 100,000
Funding Required RM1,000,001 to RM2,000,000
Description iMember is a mobile application that functions more than just a card wallet, users are allowed to store all e-membership cards, view membership status, track points collected and redeem rewards with our app.
We help retailers to digitize loyalty program for their business with Cloud-Based Benefit Rewards System. This allows retailers to understand their customers purchase behavior to improvise marketing mix. We use AI Technologies (Machine learning) to collect data and analyze customers purchase behavior by transforming complicate data into eye-catching insight.
Business Opportunity Traditional in-house loyalty program such as SMS and email required high maintenance cost that brings ineffective communication and engagement. It also lacks of automation and it has a limitation on collecting customer data. Besides, bulky wallet with physical membership cards & irrelevant rewards program often are the problems that failed loyalty programs. With iMember, retailers can deliver marketing purpose message to the right audience (loyal customers) to reinforce their digital loyalty program.
For retailers, the iMember app becomes a new communication channel that allowing them to offer the latest personalized offers or prompt a notification to inform the latest promotion deals. Besides, we also analyze the customer’s purchase behavior to enhance business strategy for retailers. As part of the planning, we will develop a payment feature or integrate with 3rd party e-wallets, so that customers are able to purchase directly through our iMember APP.
Revenue / Business Model We target on Retails, Franchise, and SME by providing customizable plans that suit every type of businesses. Price discrimination used to charge for our product, the price is depending on package’s volume and the company’s size. Monthly Subscription Fee charged from Merchants is part of our revenue source. We also earn Resource Fee through In-App advertisement. Big data analysis for retails will be one of the revenue sources in the future. Lastly, we will also earn from our payment features (in progress) as part of our important resources for our business operation.
Management Team Primary Co-Founders Experience: Nestor Ng Zhang Cong
Ng was a Digital Marketer for Funa Family Locator and helps the app to gain 500,000 downloads within a year. He also managed all the Digital Marketing activities for Kaodim and proudly to become one the team who helps the company to raise the Series B funding on October 2017.
Secondary Co-Founders Experience: Kong Kok Weng
Kong started working on freelance projects upon entering college, joining a startup software house after graduation as a technical lead. He involved in startup tech projects such as community ride-sharing, Cloud Advertising Solutions, and currently managing iMember Loyalty App. He has been involving in strategic planning and project management as well.
Company Background Date of Incorporation of iMember is 24-08-2017. The investment made to date is RM 100,000.00. We currently have 10 participate Merchants such as Toy World Malaysia, Union Fashion Bar, Nibong Tebal Automation and etc. Our profit up to date is below RM 1000.00. A milestone that we achieved is we managed to convince Big Brands like Toy World and UFB to join us. We also successfully expand our team to 6 employees within a year. We might lack financial support, but our team believe in our ideas and make it through until today.
Funding Milestone Date of Incorporation of iMember is 24-08-2017. The investment made to date is RM 100,000.00. We currently have 10 participate Merchants such as Toy World Malaysia, Union Fashion Bar, Nibong Tebal Automation and etc. Our profit up to date is below RM 1000.00. A milestone that we achieved is we managed to convince Big Brands like Toy World and UFB to join us. We also successfully expand our team to 6 employees within a year. We might lack financial support, but our team believe in our ideas and make it through until today.
% Equity Allocation 20
Expected ROI There will not be any ROI for the first 3 years as we will continue expanding and seeking more investors to fund us in order for us to become the number 1 shopping app in the SEA.
Risks and Mitigation Acceptance level toward the technologies in the industries is one of the risks that iMember will be facing in our startup journey. Malaysia just enters into Digital Era, therefore, times and efforts are needed in order to allow the retailers to adapt the technologies. We need to conduct marketing activities to promote our services as to popularize our concept, in order to mitigate the risks in the future.
Technologies can be one of the risks that affect our operation. Since the technologies are getting advance day by day, it is time-consuming for our team to conduct research and development to improve our services. To reduce the risk, our operation team is required to attend courses to catch up the trend and upgrade the products by using the latest technologies.
Exit Strategies Investors are allowed to sell their shares to another company but it is depending on the type of company investors are trading to. Besides, the company or management team also can repurchase the shares of investors. Other than that, the private equity of investors or shareholders can also be purchased by another investment institution.
Company Name Imember Solutions Sdn Bhd
Website/Facebook https://www.facebook.com/imembermy/
Business Address B-2-39, Dataran Cascades, No 13A, Jalan PJU 5/1, Kota Damansara, PJU5, Petaling Jaya, Selangor, 47810.
Contact Person Ng Zhang Cong (Nestor)