How Dolado CEO Josmar Giovanni grew Dolado to $1.1M revenue and 1.5K customers in 2024.

hey folks my guest today is gee fury he's the co-founder and ceo of dilato investor at norte ventures uh kobe nomo and b-hub in addition to being a board member of quiko and b-hub he co-founded levo eyewear co-founded grow and co-founded warden angels the brazilian chapter yields a bachelors of engineering degree in industrial engineering from puc rio and mba from warren business school now building dilato.com dot br which is playing in the uh enablement space for aladdin and the loud am enabling space for e-commerce sites and financial services all right you ready to the top yeah nathan so super excited to be here thanks for the invitation you bet you've got a lot going on so i mean are you really focused on the startup here or just like a side thing no i'm focused on the startup focus on the ladder but of course there are many opportunities going on in the region and suppose so i like to do side investments and help other entrepreneurs but uh but my focus and my time is more dedicated to to building the ladder so what what is it i mean it looks like it's something that we can use to like buy headphones buy chargers things like that but is there a sas play here that i'm not seeing yeah so what you're seeing when you get into the website is we focus on building a solution that helps small merchants uh buy better their inventory and also sell better online because most of the the merchants the small entrepreneurs in brazil are 100 offline and we decided to focus initially on electronics because everybody's going after the low hanging fruits which is fashion and groceries but those those segments are too competitive already so we decided to focus on electron we are the only one on the b2b marketplace space online vc backed and right that's where we saw the biggest opportunity and the sas play that we have here is the e-commerce play to help them sell online and we also about to launch a management tool to help them manage their business better so we help them buy better sell better and manage better their business so what does the average paying customer today pay monthly in terms of the sas part of the business the sas part of the business we're giving it for free because it's a way for us to it's a cac hack like we offer the e-commerce solution for them to sell to their final club for free but the moment they start using our solution and build the trust we can make a lot of money by selling them their inventory so right now like we operate like amazon amazon they have a marketplace on the site that connects uh suppliers with final custom but they also have their own line of products that they make a lot of margin on that so we're doing this on the b2b store sas today is free and we don't have penal monetizing on this front because the way you've got a great way to have a low cac and monetize on the other front so then on this let's let's build up the marketplace for a second okay so in the past 30 day well i guess let's just use the last full month which is april um how many suppliers were on the platform how many skus so right now we have around 500 skus 100 focus on the electronics we have more than 30 000 merchants registered and the market those are those are suppliers or buyers those are buyers and on the supplier side we are we now are increasing on the b2b market place uh we just have around five suppliers for now but the idea is to increase more but uh but yeah but we already there's five suppliers with 500 skus yes oh what's going on there youtube good to see you guys now imagine this you love watching these interviews with sas founders but imagine if we took all of the valuation data out from over 2807 interviews i've done manually saves you a lot of time well we've done this we've built it into the beautiful interface inside of founder path check this out i'll show you how you can access this in a second but you log in you connect your stripe account you see your valuation real time you can see what it changed over the past 88 days and even set goals for valuation this year now the secret evaluation is there's many different ways to value a sas business so the reason you're going to see three or four different valuations inside of your frowner path dashboard this is all free by the way is because depending on who's doing the buying of your sas company you're going to get a different valuation a vc is going to pay a different valuation private equity firm is different if you're going to do a minority sale that's different and if you sell the whole business that's a different valuation you can see all those when i hover over here right so the teal is what a vc would pay yellow is what private equity and red is if you sold the whole thing outright now what's cool about this is this is not built off random data again you guys hear these interviews on youtube all these datas are built from real-time valuation data points founders share with us on the show so traction 1.2 million seed round 3.7 raised they sold 22 to their business go in here and filter by the event maybe you only want to see companies that have sold the whole business well here are a bunch that have been acquired the valuation and the multiple maybe you're going out right now and you're raising your seed round well go in here and look at all this recent seed deals that went down what they raised what valuation they raised at and what percent that they sold there's never been a larger data set of sas valuations than what you can get now inside of founder path and we're thrilled to bring it to you all right we're going to go back to the youtube video here in a second but if you want to check this tool out if you want to jump in and sign up you can check it out for free to get your valuation at this link this link founderpath.com forward slash products forward slash evaluations or if you go to founderprep.com and hover over products click on get your evaluation here and go ahead and sign up to give it a whirl again all that valuation data live right inside the platform i hope to see you there all right let's jump back into the interview and there's 30 000 registered buyers how many of those buyers spend at least a dollar the past 30 days uh last last 30 days around one 1 500 it spend on average with us uh 120 dollars on average and uh so we've been growing fifty fifty percent month over month so this month we are spending we are increasing fifty percent this number that i just told you so fifteen hundred uh buyers right uh spending 120 bucks on average like per checkout is about 200 000 of order volume how do you make money on that 200 000 of order volume right now we have that's the beauty of what we do is we have a lot of margin so right now the gross margin uh consider the price we sell and how much we pay in terms of cogs it's 28 so it's one of the highest in in the b2b segment the b2b marketplaces so just to be clear you're making 56 000 on 200 000 of volume yes so but besides this without we also have to take out logistics we have to take out transaction costs so after taking all of this we have a contribution margin of 13 okay got it so just to be clear there's 200 000 that these buyers are purchasing from uh five suppliers and 500 skus on your platform as they put and spent 200 000 over the past 30 days you have to spend about 150 000 of that to actually buy the physical good the charger the headphones the whatever the product so that's your 28 sort of gross margin then after all your operating costs your people marketing sales whatever you're taking about 13 to the bottom line is that about right yes that's correct i see okay this makes a ton of sense so so um that would mean you know so 56 times .13 yes so that means you're doing 8 000 per month right now in terms of margin you make on the marketplace now does that include the goods that you sell directly that you own products you own and build yourself most of them most of them uh it's it's directly that the marketplace the 3p play that it's it just started last month so over 90 of what we are talking here is from ours like we buying and selling to to the clients not just intermediating on the 3p marketplace yeah oh i see i see ic got it so you you started off by only selling your own line of products now you've added five suppliers and 500 skus yes so uh amazon that's just like amazon amazon 60 of what you've seen amazon it's coming from a third party but 40 it's it's amazon it's like they are buying from someone else and they have it in their inventory some of them has amazon brand on it and selling directly so it's a mix of 1p and 3p this is exactly what we're doing here i see got it so so you're right now doing a run rate in terms of your gross margin right of something or sorry you're i guess how do you calculate your revenue you don't want to use just total transaction volume going through your platform right yeah so right now that's the way we because it's still marginal the way we do 3p on the 3p on the marketplace side it should be take rate times gmv but the gmv as i told you like it's still very small because we just started so most all of our revenue comes from the 1p play the direct like a regular e-commerce so the way we calculate revenue is is in terms of arr and well i so right now if...