Friday Bites 04/10/21 - 10/10/21

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Happy Friday all,

We are back with yet another edition of Friday Bites :chocolate_bar: full of progress as we gear up for our BETA Launch.

Oshoma and myself have been working on marketing and looking after the operational and strategic side of the business while chipping in where we can on some technical aspects. Moreover, we wanted this edition to be more around the technical side and required tools to go live as we edge closer to our launch

We have completed the following leading up to our awaited BETA Launch:

  • Notifications
  • Terms and conditions
  • The product is almost ready to go with the Ratings & Review and Messages element being outstanding. We have been testing the features of the app simultaneously while building the app and we can say that this product is looking more like a 2.0 than your average BETA.

With the above said we should be in a position to launch our BETA app in the coming weeks, with integration between the backend and frontend going well.

For now, it is adios, and I hope you all have a fantastic weekend. If you have any questions, please drop a post or comment on the forum!

Signing off :metal:
~ Yoma

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This great news, well done on all the hard work so far and can’t wait to see the product. Can you confirm how the payment structure works, will they be paying the vendoir directly or via the app? Reason I ask is when crowdfunding one thing I was keen to understand is if you would be looking to simplify this and have one app, one bill for the consumer as I feel this would be a great selling point.

Also for the future be great to see a link up with someone like Klarna to help them spread the cost as let’s be honest one of the more ex wow naive things can be a party so spreading over 3 equal payments could work well.

Thanks aaron

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Hi Aaron thanks for your message all payments will be taking via the app through a Stripe integration. Payments will be held in escrow till after the event similar to how Airbnb operates

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In relation to the Klarna situation of spreading your cost I can tell you now that is a feature we want to implement as soon as we can post MVP launch. We have already started exploring how this would work, so that we are ready to implement it when the time comes

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Great thanks for the response and very positive answers. Next question (sorry I know I’m a pain), once you have had a successful beta you will be launching in london is my understanding, how soon will you be targeting national as I’m sure once people see this they will want this in their area quick. Will you be looking to do another raise to scale?

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Please fire as many questions and discussions topics on here as possible, that’s what makes this space special. Yes, you are right that post BETA we will launch in London. Expanding nationwide is something we haven’t concluded on yet in terms of the time frame but it would be pretty soon after a successful launch in London. We will be having a seed round at some point next year to scale up for sure which will help us with a quicker nationwide expansion too.

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Hi @YJames Is there any approximation of when the next fundraising would be, I know Im kinda asking you to shot in the dark but at this stage do you have any rough idea of when next year that might be, which quarter?
If national expansion is beginning in 22, when would things start getting ready for US and EU(I’mguessing that lives 2023) , by the way for EU I saw something interesting …an e-residence(all done online) offered in Estonia, which supposedly makes things quite easy to make business within EU(not sure if that might be of eny use just thought it might be good sharing it).
Is there no way to grow things in parallel, I know is totally different businesses I will be comparing but some of the other companies I invested seem to be trying to do things simultaneously (well some stages of their roadmap). To be fair they raised over 500% so the extra money they’re using to do things in parallel. Do you plan something like that if your next round tuns out better than your target ?

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@StrikeLog Right now, our focus is to dominate the UK market starting with London as we feel it’s better to make a good place for ourselves before any non-UK expansion. Following that, we would start to look at a European expansion but our focus now is to be the market leader in the £43 billion UK market. The overall goal is to take advantage of the global opportunity, but this needs to be in phases. Next year we would commence the process with a focus on regulatory and then commercial in line with our roadmap.

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Just to add to what @OshomaZ said in relation to our next raise. We are targeting the later parts of Q1 next year.

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Hi, thanks for the updates and it’s good to hear you have a plan for nationwide as I think once your model has been seen others may try to do something similar (although they would be playing catch up with you). I personally feel the sooner you can get national in the UK the better but agree you need to prove the concept first and let the clients do the talking for you.

As I say I think this business has huge potential and look forward to watching you go from strength to strength. Would be good to understand if we will have sights on stats when lunched such as number of active users, revenue coming in etc even if on a quarterly basis.

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Just to add to this the communication has been excellent from you all as a business so far, I am invested in nearly 65 companies and you are by far the best currently.

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Yes, absolutely nationwide will happen as soon as we have ironed out any potential issues and concerns from our MVP product and we see great reactions in London. In regards to updating around the business and our KPI’s, that’s something we will continue to do on a quarterly basis to all shareholders similar to our last update, as we add more metrics all investors can expect this to be shared with them too. Our approach is that we really want the Vendoir community in the future to be as strong as the Airbnb community and transparency with all our investors is the way we build on that :smiley:

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this means a lot and we want to continue with this approach!!!

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May I join in with @aaronhand to express my appreciation of how well communication is nourished by all of you guys. And I’m really looking forward to the national and world expansion so I can do my bit in it. I’m also looking forward to bagup some more shares on the upcoming risings.
Thank you @YJames and @OshomaZ

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Thank you, we all looking forward to transforming this industry together, hand in hand with our community!!!

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