“Your Opportunity” is a new program, in the Spanish Television, that gives an opportunity to new Entrepreneurs, through the employers, experienced, Maria Eugenia Girón, Catherine Hoffmann, Javier Pérez Dolset, Gonzalo de la Cierva and Pablo Gimeno.
I have liked the case of Jose Luis García Martínez (Founder Fidiliti, a solution that allows to business and users manage loyalty cards and be able to carry on mobile phone in a simple and easy to use).
Jose Luis went to the program with the idea of offering 8% of the company, in exchange for 110,000 Euros. But he found that all investors, except one, were out of supply.
If you want to watch the result, please click down here, on the link:
http://www.rtve.es/alacarta/videos/tu-oportunidad/tu-oportunidad-fidiliti/2158490/
The Entrepreuner: “ Hi, I am Jose Luis Garcia Martinez , Founder of Fidility, and we are looking for 110,000 Euros for 8% of the company. Fidility is a solution , which allows, to businesses and users, manage loyalty cards and be able to lead them in the mobile phone , in a very convenient, simple and easy to use. The problem, that we detected is that the user does not want to register with loyalty programs .I am sure you did that happen , ever , and also that our portfolio is not infinite, we must decide what we want to bring cards on us. Our solution is a new means of communication and loyalty , which allows companies to have a presence on the mobile client , which is increasingly important ; allows presence in social networks , through their customers, they will use their brand, they will be they prescribers of their brand , they will allow to know the profile of the customer, because they will know exactly when their customer has selected their card, when it has read a promotion, when it has read an offer, when used .. . ".
The presenter of the program: “Jose Luis seeks an investment of 110,000 Euros, in exchange for yielding 8% of "Fidility". Javier will be the first to ask”
Javier Pérez Dolset: “Do you have material after a year?”
Jose Luis: “Currently we have over 30,000 users, who are using the application, but we really what we focus is on getting agreements with companies. It is an important thing that, currently, companies are spending among 3 to 5 Euros, per user per year. ..: the whole issue of attracting users, the loyalty card, the display of that card with customer data, and with our system companies can save substantially ....”
Gonzalo de la Cierva: “And how many companies have you already within the application now?"
Jose Luis: “There are currently 18 companies within the application”
Javier: “How much everyone pay you per user?”
……......a little silence……………………..
Jose Luis: “But the companies are paying among 0,20 and 1 Euro, per user each year…..; then, companies like for example…..”
Javier: “And with that, they have full access to services of the platform…., I mean that is very economical for them”
Jose Luis: “Fully, indeed”
Javier: “How you invested to date?”
Jose Luis: “But, to date, we have invested about 150.000 Euros”
Maria Eugenia Girón: “How much have you deposited?”
Jose Luis: “In the last year, we have deposited about 40.000 Euros”
Javier: “What is the billing that have seen a very planned, sorry Paul, for this year?”
Jose Luis: “For this year, 80.000 Euros”
………a little silence……………………
Catalina Hoffmann: “I am really not the right person to be in your company, of course the product is good………..I am out, but congratulations”
Jose Luis: “Thanks”
Pablo Gimeno: “Jose Luis, I think that the keys you have are not only to be the first one in this, but having an alive and fast sales team that makes entering the large (companies) faster than your competition…… However, that same is what scares me a bit: the barriers to entry to competitors, with big monsters, which are walking on the network, which can hurt you; so, in this case, I will be out”
………..a little silence……………..
Maria Eugenia: “It is not for me a sector that ... I understand these comparative advantages, although you have described them great ..... ; for that reason I am out”
Jose Luis: Thank you very much”
----------------a big silence……………………
Jose Luis: “What are you thinking…?”
…………..a silence with stress………………..
Jose Luis: “You remain two…..”
………a silence with stress…………………
Gonzalo: “I should tell you that remain, if you have seen the profiles, the two almost specialists in technology and mobile, who are the ones we are thinking more”……..
…an stress……………………..
Gonzalo: “And I think that everyone is waiting for the other to speak first……………………….As Javier is on absolute silence, I speak….It is an idea I like, I love it and would make you an offer, if it was not because I think the 30,000 valuation today is excessive .... I am out, in an absolute novelty, provisionally…………………….Ie ... to see if my partner goes and how assessment”
Javier: “The problem that ....... you have chosen an industry that has a problem to be solved, but it is one of the biggest, most powerful sectors and there are more people and you will find companies that have millions user ...... I would tell you the following: I give you ... I mean you get the critical mass, I give internationalization and funding that you go ..... need to develop this .....; in exchange for all that, I would have: 1: 30% of the company; 2: of course I have a clause where you may not cheat or sell it to any of my competitors, and 3: the pace of development and countries where this is going to be the move that I check”
……………Silence……………………
Jose Luis: “We would have to see all those conditions, who are your competitors, what countries are you going to want to throw it”
Javier: “Competitors…......, today, small, few ......, we are the biggest company in the world we doing that by far ....... So .... I have not told you the figure ...... and I have not said it on purpose, because .... what I want is that you tell me what it is, what it is what you would consider fair, exchange for all that I am giving you”
……….little silence……………………..
Jose Luis: “We really, in a next stage, in a next round of funding, we would be looking for 500,000 Euros, for a next step, then, would be somewhere between 100 to 500 now and then, and ..... . bequeath to an intermediate amount by 30% ….”
…………….a little silence…………………..
Javier: “I give you 250.000 for the 30”
Jose Luis: “I think that you can add a little more”
Javier: “Yes, but I do not want. I want you to sweat it”
………a little silence…………..
Jose Luis: “There is another……you still were awaiting, perhaps you improve it….”
Gonzalo: “I, in the wake of the offer made by Javier, if I entered in the company, I should consider myself a simple opportunist or a parasite of what you are going to develop among you; thus, now yes I am out definitely”
…….a little silence……………………..
Jose Luis: “Ehhhhh, but let me for a second, that I am going to consult it”
…………….waiting for a moment……………..
The presenter of the program: “Jose Luis is out of the trick of Gonzalo, in order to trade before Javier and he will have to decide whether or not to accept his offer”
……..a little silence……………
Jose Luis: “Here what we see is that the valuation is a bit low at the end ... you have dropped it to us.... significantly. We value all you can provide, but we have another investor who invested a small amount, a few months ago, and with a valuation of a million ....; then, well ... if you can climb instead of 250,000 to 300,000, we could keep that valuation, for that other investor and we could enter more easily ... sure that you do not pose any any problem ... I think that we can help, each other ..... and we can go forward ........ trying to adjust that amount”.
…a little silence…………
Javier: “Well, I agree........................ Congratulations "
Jose Luis: “Thank you very much”
The presenter: “Jose Luis….Congratulations…….You get loyalty Javier Perez .......... How about, happy?”
Jose Luis: “Much, much…”
The presenter: “What a negotiation such combative, such hard…”
Jose Luis: “Well….It has not been much….”
The presenter. “He has been hard to get ...”
Jose Luis: “A little, but hey, it was interesting…”
The presenter: “Are you happy?”
Jose Luis: “Much”
The presenter: “Good luck”
Jose Luis: “Thank you very much”
The presenter: “Hold on!”
Jose Luis: “Thanks”
Maria Eugenia: “We will register us into all these cards”
I hope that you have liked this article; if you did not like it, please you may tell me why, thanks.
Till soon, kind regards,
Luis.
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