IO Private will follow up to share insights on this venture.
Nick Neda
Founder & Managing Director

IO Private will follow up to share insights on this venture.
Nick Neda
Founder & Managing Director
~$2m, all funded by the founder to-date.
100%
Yes
$30k from very selected verticals. While ineda has sold $3m of products to-date (GTV), the company has made the conscious decision to prioritise building both sides of the marketplace over short term revenue. Revenue will be 'turned on' in earnest this financial year, with the company projecting over $500k in FY21, then scaling to over $3m in FY22.
Customer lifetime value (LTV). Based on real data gathered to-date, the company conservatively projects an LTV of $20 over a 12-month duration.
Yes
Trademarks for the company name and logo.
ineda has developed a mobile app that allows consumers to request what they want and have reputable retailers bid for THEIR business. Buyers love it because it is convenient, and they get a better price than they can find anywhere online. Sellers love it because they receive customers with true purchasing intent. ineda has signed some of Australia's largest retailers (Appliances Online, Telstra, The Good Guys to name a few). The app is in market and now ready to scale further. Nick is a successful founder and has invested ~$2m in the business to date. ineda has sold ~$3m of products in just 9 months and this is the first time the company is seeking external capital. Channel 7 news coverage: https://twitter.com/7NewsMelbourne/status/1272450713163948032
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