شارك تانك | مشروع "E-stebdal" حل مشاكل مرتجعات الأونلاين ووفر للتجار 145 مليون جنيه — Transcript

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1. 0:00How did you dream up this 7 million for
2. 0:0310 percent?
3. 0:08Hi sharks. I am Ahmed Samer. Co-founder
4. 0:11and CEO of Estebdal. Our ask today is 7
5. 0:13million EGP. In exchange for 10%of the
6. 0:15company's value. We provide an
7. 0:17integrated solution for returns. For
8. 0:19merchants selling online. What do we do
9. 0:21? Exactly, let me tell you a quick story
10. 0:23. It started when I ordered three items
11. 0:25online from three different merchants.
12. 0:28One of them was the t-shirt I'm wearing
13. 0:29today. Of course, as you can see, the
14. 0:31t-shirt wasn't my size.
15. 0:32>> It looks good on you, seriously, it
16. 0:34looks good on you.
17. 0:35>> I said it's a fashion statement, so
18. 0:36thank you very much. So I ordered three
19. 0:39items. And I couldn't return a single
20. 0:40one of them. Later, while I was
21. 0:42complaining to my friends about the
22. 0:44problem I faced, I found them
23. 0:45complaining about the exact same thing.
24. 0:47From completely different merchants. And
25. 0:49from there, I decided to solve the
26. 0:50returns problem. Naturally, the first
27. 0:52thing I did was go talk to the merchants
28. 0:54. And what I understood was that for the
29. 0:56merchant, returns are a much bigger
30. 0:58problem than for the customer. Today, a
31. 0:59merchant goes through five steps just to
32. 1:01process a return or exchange with a
33. 1:03shipping company. We are a tech platform
34. 1:05.
35. 1:05We integrate directly into the
36. 1:07merchant's website. So any customer can
37. 1:09go in and process their return without
38. 1:11waiting for anyone to respond to them.
39. 1:13And I only ask the customer one question
40. 1:15: why are you returning this? I ask for
41. 1:17two reasons. First, to help the merchant
42. 1:19understand why returns are happening, so
43. 1:21they can reduce them. And second, to
44. 1:23solve the customer's problem. Today, if
45. 1:25a customer gets a t-shirt like the one
46. 1:27I'm wearing and wants to swap for
47. 1:29another size, I automatically show them
48. 1:30the available sizes and what's in stock
49. 1:32to exchange. Through it, the customer
50. 1:34can return an item completely. Get
51. 1:35another size. Or even get an entirely
52. 1:37new product. This process takes less
53. 1:39than 60 seconds exactly. And as Estebdal
54. 1:41, our role doesn't stop there. The
55. 1:43merchant has their own admin dashboard.
56. 1:45They can see every request that comes in
57. 1:46. And as soon as they approve the
58. 1:48request, I notify the shipping company
59. 1:50they work with to go handle the order.
60. 1:52And when the item returns to the
61. 1:53warehouse, they can also log into
62. 1:54Estebdal and send the customer their
63. 1:56money. Whether they send them a refund
64. 1:57on the card they used to purchase, or a
65. 1:59transfer. A bank transfer or even mobile
66. 2:02wallets.
67. 2:03Since we started generating revenue last
68. 2:05March, today we are working with over
69. 2:07200 businesses.
70. 2:09We have processed returns worth over 250
71. 2:11million EGP. And we've managed to save
72. 2:13the merchants who worked with us 145
73. 2:15million EGP. We know that the returns
74. 2:17experience is very difficult for anyone
75. 2:19who shops online. And that's why we want
76. 2:21a shark to join us. We are trying to
77. 2:23improve this experience, not just in
78. 2:25Egypt, but in the entire Arab world, for
79. 2:27everyone who buys or sells online. Thank
80. 2:30you.
81. 2:30>> What are your sales?
82. 2:32>> Our realized revenue to date is 1.8
83. 2:35million.
84. 2:36>> That's the revenue?
85. 2:37>> That's the revenue since March.
86. 2:38>> You only started last March?
87. 2:40>> Started monetization last March, yes.
88. 2:42>> What do you actually charge? Is it a
89. 2:44fixed fee or?
90. 2:45>> No, we have two tiers for our
91. 2:47subscriptions. We have a fixed fee and a
92. 2:49variable fee. The fixed fee is for a
93. 2:51merchant with a specific budget. They
94. 2:52want to know exactly which features they
95. 2:54get. And exactly how many returns I
96. 2:55cover. The second option is the variable
97. 2:58fee. So I pay the fee I want. Based on
98. 3:01the features I need. And for every
99. 3:03return I process, I pay a certain amount
100. 3:05. Of course, that amount depends on the
101. 3:07merchant's volume. So a merchant doing
102. 3:08100 returns. Isn't the same as one doing
103. 3:10, say, 2,000 returns. So this 1.8 is
104. 3:11your revenue. From a GMV of 250 million
105. 3:14. Is that right?
106. 3:14>> Exactly. We don't take a cut of the GMV
107. 3:16. The entire pricing depends on features
108. 3:18and volume. As of today, my ARR is 5.4
109. 3:21million. That’s my projection to close
110. 3:24the year at 12 million. Okay.
111. 3:28So we used a multiple of 5.2 based on
112. 3:31our valuation.
113. 3:33>> And this is after three months?
114. 3:34>> Exactly after three months.
115. 3:36>> So you're asking us to evaluate based on
116. 3:38...
117. 3:39>> It's not 5. It's 5.
118. 3:41It's 5, but as a multiple, the valuation
119. 3:44is based on the ARR, but obviously 5.
120. 3:47.25 on an ARR that isn't realized yet.
121. 3:50>> Hm.
122. 3:51>> And there's no growth yet, nothing else
123. 3:53.
124. 3:53>> And there's no history.
125. 3:55>> And no history, I mean, you’ve done 1.8
126. 3:58so far, how did you calculate an ARR of
127. 4:0112 million by year-end?
128. 4:02>> Okay.
129. 4:03>> I mean, the math doesn't add up when...
130. 4:06>> When you annualize it, it comes out to 4
131. 4:07million.
132. 4:08>> Well, any merchant who joins doesn't
133. 4:11start as a paying customer; they get 60
134. 4:13days for free to test the features
135. 4:15before committing.
136. 4:17>> Wow, that’s quite aggressive! So you're
137. 4:20also accounting for...
138. 4:22>> A projection that this person will join
139. 4:24.
140. 4:24>> And will commit? What about your churn
141. 4:27rate?
142. 4:28>> Our churn rate so far is very low; since
143. 4:30we started, we've only lost three
144. 4:32customers, so those currently on trial
145. 4:34...
146. 4:35>> Three out of how many?
147. 4:36>> Three out of 220, 225.
148. 4:39>> No, did those 220 pay?
149. 4:41>> No, regarding the 220, if you look at
150. 4:43the churn rate, it’s based on those who
151. 4:45paid.
152. 4:45>> On the paying merchants, yes.
153. 4:46>> Yes.
154. 4:47>> So since I started.
155. 4:48>> How many paying merchants today?
156. 4:49>> How many of the 220?
157. 4:50>> 115.
158. 4:52>> How much did they pay?
159. 4:53>> The average ticket per merchant is 3,500
160. 4:56.
161. 4:57>> Okay, so they've each paid about 50,000
162. 5:00pounds, but some paid less and some more
163. 5:02, depending on how long they've been
164. 5:04with me.
165. 5:04>> You only started in March.
166. 5:07>> Some joined in March, April, May...it
167. 5:09varies, but 3,500 is the average
168. 5:11subscription price per merchant across
169. 5:13the board.
170. 5:15>> And won't AI replace you later? If they
171. 5:18just put a chatbot on their website,
172. 5:21won't it do the same thing you're doing
173. 5:24?
174. 5:25>> Exactly, and we already support those
175. 5:26things. So, why would people using AI
176. 5:28continue to pay you? Today, I could just
177. 5:30get it myself; why would they keep
178. 5:31paying?
179. 5:32>> They wouldn't pay, yes, exactly. May I
180. 5:33answer your question as to why they
181. 5:35would keep paying me? Because an AI bot
182. 5:37, at the end of the day, if it's on
183. 5:38social media, it just communicates with
184. 5:40the customer. But I have the
185. 5:42infrastructure, so I integrate with
186. 5:43shipping companies, payments, and
187. 5:45everything.
188. 5:45>> It's very easy for them to connect with
189. 5:47payment companies.
190. 5:48>> Sure, payments are just one division of
191. 5:50the matter. But for example, today, how
192. 5:51many shipping companies are there in
193. 5:52Egypt?
194. 5:53>> No, guys, I'm sorry. Please, I'm sorry.
195. 5:55I will defend this part; he has
196. 5:56integrated these seven or eight
197. 5:57important things and put them all in one
198. 5:59place, and he is trying to go to people
199. 6:01to solve their problem. My problem is
200. 6:02that his valuation is the same as
201. 6:04Mohamed's. You said something completely
202. 6:05different. I mean, I'm sorry. I'm sorry
203. 6:07, just because maybe I'm wrong.
204. 6:10>> Let's take the scenario...let's take the
205. 6:12ARR scenario, zero churn rate, 200
206. 6:14clients, multiply them by the 3,000
207. 6:16pounds you mentioned, that's 7 million
208. 6:18pounds a year as of December 31st, based
209. 6:20on a best-case scenario.
210. 6:22>> That is if you are, you know, the king
211. 6:23of kings. And there is nothing at all.
212. 6:25And there are no costs. And there is
213. 6:26nothing at all, so sorry. And there is
214. 6:27nothing. No churn rate, and nothing at
215. 6:28all. Okay. And you just started. Today,
216. 6:30you've been around for a few months. It
217. 6:32can't be ARR.
218. 6:34You multiply it by 5.25 over 12.
219. 6:37>> I want to find the part where you
220. 6:40protect yourself from the technology.
221. 6:44>> My entire defensibility is in the data.
222. 6:47The data I collect today from customers
223. 6:49who come to return products. So, today,
224. 6:51if someone comes and does something
225. 6:53tomorrow because of AI or not, I already
226. 6:55have data on 350,000 shoppers who have
227. 6:57made returns from other stores. So,
228. 6:59today I can flag to any merchant: Is the
229. 7:01customer coming to make a return with
230. 7:03you a fraudster or not? What is their
231. 7:05behavior with other merchants? This is
232. 7:06something you wouldn't be able to do on
233. 7:08your own. Because your data is in a silo
234. 7:10. So you don't see the rest of the
235. 7:11people. Those who come to us from
236. 7:13merchants want to optimize their return
237. 7:14rate.
238. 7:14>> Nice, so you provide insights to this
239. 7:17guy?
240. 7:17>> I give insights to merchants, but of
241. 7:19course with anonymized data.
242. 7:20>> Well, after this time and the data
243. 7:22you've collected, give me the essential
244. 7:25thing that sets you apart from anyone
245. 7:27else. How much did you save? One thing,
246. 7:29not 145 million pounds. How much did you
247. 7:32save in what? What is the core thing you
248. 7:34would advise a merchant with?
249. 7:36>> The return closure time—our average now
250. 7:38across our entire portfolio is that for
251. 7:40anyone closing a return, from the moment
252. 7:42the request comes in until the customer
253. 7:44gets their money back, it's exactly 2.6
254. 7:46seconds.
255. 7:46>> I mean...sorry, I'm with Mohamed, if you
256. 7:48don't mind. I see that even with the 115
257. 7:50, if you do a projection, if you do
258. 7:52their ARR, including everything, it
259. 7:53can't possibly be more than 4 to 5
260. 7:55million pounds. There is something wrong
261. 7:57with this calculation, and my ARR today
262. 7:59is a fact—12.
263. 8:04>> Isn't that right?