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MeetnGreetMe

MeetnGreetMe

Belarus, Minsk city
Market: Tourism, sport, Blockchain
Stage of the project: Operating business

Date of last change: 14.09.2017
Min investment
$ 250.000
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$ 1.000.000
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Idea
A crowdsourced travel concierge service and lifestyle management ecosystem where every traveler can request services tailored to his travel needs and budget. Delivered by resourceful local people and paid via blockchain enabled P2P payment system.
It's designed to deliver customer-centric service tailored to travelers’ needs and make travel experience really personalized experience around the world.
Current Status
We have launched a fully operational platform. We have attracted MeetnGreeters in 160+ cities around the world. Earned our 1st revenue. We have started deliver services to American customers in Europe. We launched a pilot with a TEP Wireless company (Portable WiFi devices for travelers). Currently we are in the process of transforming MeetnGreetMe platform into crowdsourced blockchain enabled ecosystem.
Market
We are starting with the following paying customer's persona:
*30-45 years old
*experienced traveler
*bleisure traveler
*values time more than money
*knows what concierge service is.
*lives in the USA/Europe and travels to another country/culture.
P2P travel concierge market is a kind of new market which is derived from T&H market which is forecasted to grow.
More than 1,24 billion international arrivals took place in 2016 with the 4% yearly growth forecast. Size of Travel, Tourism & Hospitality market has already reached $ 7,17 trillion. More that 20% of travelers have got accustomed to P2P services. Our goal is to win 0,1% of international travelers by the end of 2021.
Problem or Opportunity
Travel market is huge and continues to grow. But it's no longer enough to book online flights and accommodation. We want more:
We want to make sure we will be safe and welcome;
We want to have unique, authentic and personalized experiences;
We want to save our time for things that matter;
We want to travel carefree and ensure success of our trip.
From meeting upon arrival or booking restaurants to arranging local activities or assisting with bachelor party, MeetnGreeters will deliver services tailored to traveler's needs. Prompt, simple, in their language.
Solution (product or service)
Vial MeetnGreetMe platform travelers get connected to support they need before and during their trip delivered by trusted local MeetnGreeters, and get personalized approach to their needs. 3 easy steps to tailor-made services:
1) Select a city and a MeetnGreeter (apply filters if need one).
2) Describe your request to a MeetnGreeter you like.
3) Pay via secure payment platform and enjoy!
Competitors
Hotel concierges,
AMEX travel,
City guiding services/ Guides,
Travel agencies,
AirBnB travel experiences
Advantages or differentiators
MeetnGreetMe uniquely blends online social network with offline localized concierge services that deliver fun, authenticity and peace of mind while helping travelers to reach their travel goal. All the MeetnGreeters are personally verified.
Finance
MeetnGreetMe is a marketplace built around a scalable business and operations model. Each paying customer brings revenue. Profits will be derived from the quantity of paying users, their check and frequency they use the service.
Our rough estimations are based on assumption that 1) by the end of 2021 MeetnGreetMe will serve 0,1% of international travelers, 2) it will operate in the majority of world cities and reach a number of 4 600 deals per day. 3) average check will be $50 per deal.
It will bring us $ 6.9M in monthly sales and generate $ 6.5 mln in profit for the year period as of 2021 (EBITDA).
Invested in previous rounds, $
Business model
We started with earning a 20% commission fee from each transaction between MeetnGreeter and Guest.
Money will be spent on
1) ensuring MeetnGreeters high quality level via community management and trainings (community development).
2) growing paying customer base and brand awareness one one side, attracting new MeetnGreeters on the other (marketing).
3) developing mobile app v2
4) advancing MeetnGreetMe platform features (IT development)
5) traveling
Offer for investor
We are looking to fundraise $1M for 20%.
Team or Management
Mentors & Advisors
Lead investor
Risks
Appearance of a copy cat service which is better financially backed with an access to influential network.
Reasons forcing people stop traveling (global war; economic downturn but in this case MeetnGreeters will help to save money on not overpaying for services because you are a tourist).
MeetnGreeters fail on the service quality and customers' expectation.
Incubation/Acceleration programs accomplishment
We participated in a week-long Traction Camp in Odessa (Ukraine) in 2015. Additionally, I had a glimpse into Entrepreneur Roundtable Accelerator’s program as a guest entrepreneur during my two week stay in New York in March 2016. Although I was not part of the cohort, I was offered to pitch my startup and apply for the following class.
Won the competition and other awards
Idea stage:
Global Entrepreneurship Summit (Morocco 2014) 3rd prize;
SXSW Eco (March 2015) the prize was an opportunity to pitch MeetnGreetMe there and get attention. We got Booking.com's attention.
MVP stage:
UNDP World Summit Award, March 2017
Invention/Patent
Photos
Videos
Website address
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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Presentation
Photos
Videos
Website address
 
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