Ineda - IO Private
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Nick Neda

Founder & Managing Director

DD Checklist

How much total funding has your startup received

~$2m, all funded by the founder to-date.

What percentage do the founders still own?

100%

Did you develop your own technology inhouse?

Yes

What is your Annual Revenue Run Rate?

$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.

What is your most important metric (name and amount)?

Customer lifetime value (LTV). Based on real data gathered to-date, the company conservatively projects an LTV of $20 over a 12-month duration.

Do you own Trademarks or Patents? (please list)

Yes

Trademarks for the company name and logo.

Ineda

$1.5 million

Amount Being Raised

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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