wetipi Team Size (2022)

hello everybody my guest today is edberg kosberg he is an entrepreneur with extensive knowledge of technology and product started his first company in school selling cheat sheets co-founded fuju and online same-day grocery delivery and then supported lead energy ag and moving r d to europe both software and hardware then built two custom erp systems from scratch now working on a company that is matchmaking for tenants and real estate it's called we tp.com edgar you're ready to take us to the top yeah okay so we tp.com you have a you obviously have a marketplace here walk me through when you launch the business and how you make money so the main thing what we try to do is actually to create kind of tinder of real estate so we are creating the high quality matchmaking between the tenants and potential real estate managers our business model is based on our success rates so anytime we successfully rent out a property it stays then in our system and then we get yearly fee out of that when did you launch the business we have launched it this year and we are currently extensively uh planning our pilots with the first customers oh amazing how many so do you have any revenue yet or your pre-revenue still no we are pre-revenue exactly currently we're really kind of uh on board the default team of five people two software engineers i have also engineering background uh one sales marketing and one chief design officer interesting okay and are you guys all co-founders exactly so you each own what twenty percent of business plus it's different between uh seven and thirty four okay and are you bootstrapping or did you raise capital uh no we're bootstrapping i love that exactly and we are also raising now so oh this is kind of run it in parallel okay i take back my love that comment so how much are you looking to raise uh roughly about half a million till one million and are you on a note it depends on the investors because we are looking for really kind of smart money investor who will come with his potentially his own real estate portfolio plus on top of that network and money so this is depends of how much of these three assets the investor is bringing depending on that we will then see if it is convertible note or this is a real uh investment that goes into pre-seed route yep okay so help me understand what you think the economics will be so if someone brings you a house and they end up renting it for five thousand dollars per month through your platform how much will you take uh for the first year you will pay roughly uh eighty percent of one monthly rent you would take for example the average flat or house here in europe it costs roughly one thousand six hundred dollars per month yep then we would get for the first year 1200 then for the second year you will pay roughly about 600 it's 40 and then for all years afterwards you will just pay 10 of one monthly net fee but excess of that you don't have any license fees for users for software whatever you get all the features always released you have all access to the whole platform and what would the platform get me after the like after you find me a tenant it provides you the full calculation of all the tenants you have inside of your platform so you can track who paid for not where you need to renovate your house how you can switch or flap the users for example from one real estate to another if they get for example a child birth then they don't go again on the search but you have another property which is one room bigger you can automatically offer them this as soon as they change their data okay so this is more offer connecting really the tenant profiles where you also manage your data to get much more benefits for your your living in general and how do you build demand on both sides at the same time pre-launch how are you building your consumer list of people looking for houses yeah so on one side we have the direct contacts through our huge network where we approach the property managers directly from both sides from starting with project managers and new buildings to go into ceos through linkedin and xing and other platforms and on the b2c side we are preparing a marketing lounge where we will do something new but also not very innovative we'll just make a long video of how actually this whole process works today with all the search platforms and then we're cutting small videos for each specific pain point when your head emerges okay this process is for example or something doesn't work as i expected then you your customer journey goes again back because you're frustrated you're angry you need to fill out some paperwork and we are cutting these small videos and then we're creating different social media advertising so our main stream will be really kind of leveraging the social media reach in video marketing are you going to pay for reach or do you guys have reach like how do you get that reach uh depends on various uh platforms in instagram obviously this will be our branding plus influencer marketing on other platforms this will be through facebook groups for example where people really look for flats where they know okay there might be some hidden market can you name can you name a group a facebook group that you'll play in for example we we have here in switzerland we have four one in sioux one in zurich basel and geneva there are just private groups of people who gathered from 1 000 to ten what's the title of the group uh i can check it out it's uh oh it's the one not english i won't know no yes okay got it okay cool but facebook groups to launch okay interesting so i mean isn't that a critical part of your test i mean like shouldn't you do that like right now to see if you can build a waitlist of like a thousand consumers uh the main point there is that you don't really move after six months right if you're looking something now you should you would like to get something in next three months so currently we're building on one side to get really the first let's say uh exclusive real estate offers what we will have and then we will proactively go out and really on board the people who really are fitting to this property so we can convert them as fast as possible and why the future and why are you better like there's got to be people other people doing this i mean how are you going to do this better differently why isn't there already a 100 million billion dollar business in the space one of the biggest thing is that the current platforms they all work in the old economy which is you pay for advertising so i put real estate you pay me 50 bucks for just my reach what i have and we are changing this in a way that we offer you much more deeper insights about the property even about the quality of windows floors etc what we get through analyzing the pictures and the data what we get directly from the property managers and the property managers can select a better high-quality tenant that they would like to have who will stay for 10 15 20 years probably so this is something that current procurement platforms don't really offer interesting very cool so when i mean when do you think you'll do your first dollar revenue uh we are planning to release that platform in q2 next year very good and then we are we are will be ready with the first poc with the all e-signature probably too we're currently evaluating how we can expand globally or let's say europe-wide without having uh any legal issues so and your mvp right now has just built sweat equity you guys haven't spent any money on developers it's all you guys just coding yes it's just we working 365 24 7 and building the whole thing up because i have also engineering backgrounds we have three engineers one designer and we are working every evening every weekend like literally every time we have free time we spend on really building this amazing product and how are you guys paying yourself right now to cover your expenses you're just literally off savings uh partially part of the team they have savings and they freelance so for example our chief design officer he is actually digital nomad so he kind of has 50 different freelance jobs and we have our normal jobs where we work and so we we work not usually in the evening or between the lunch or on the weekend etc very good edgar we're rooting for you let's wrap up here with the famous five number one favorite business book uh let's say crossing the chasm number two is there a ceo you're following or studying uh i'm following all of them actually elon musk and satyana did yeah it's not unidentified number three what's your favorite online tool for building a business uh lately click up yep number four how many hours of sleep to get every night uh six to seven and what's your situation married single kids married with a funny daughter oh great and how old are you i'm 30 she's four oh great last question what's something you wishing when you were 20 nothing it was everything good guys in my own business with 20. there you guys go we tp.com hoping to connect folks that are renting houses with people looking for those houses they'll take a cut of first year revenue specifically 80 percent of the lee of one month rent value in the first year then 40 in the second year then 10 after that just one time they take that not every month uh they're raising right now 500k to a million bucks aiming for a q20 21 launch edgar thanks for taking the top thank you nathan have a good day bye bye one more thing before you go we have a brand new show every thursday at 1 pm central it's called shark tank for sass we call it deal or bust one founder comes on three hungry buyers they try and do a deal live and the founder shares back end dashboards their expenses their revenue arpu cac ltv you name it they share it and the buyers try and make a deal live it is fun to watch every thursday 1 pm central additionally remember these recorded founder interviews go live we release them here 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