Chatbiz on WeFunder | Deal Memo

Jun 5, 2021 2 min read
Invest in Chatbiz (YC W21) : Shopify for Indonesia and Southeast Asia using WhatsApp | Wefunder
Shopify for Indonesia and Southeast Asia using WhatsApp

Company Overview

Problem Addressed: Managing all customer requests on WhatsApp is hard for online businesses. They are overwhelmed by chats, orders, inquiries, invoices, and they have to go back-and-forth to other apps just to serve one customer.

The Product: Turning WhatsApp into Shopify, allowing businesses to take customer orders and offer payments, manage and keep track of orders, customers info, and invoices. Furthermore, companies can also implement a fast customer service using bot assistance.

Deal Terms

  • Security: SAFE
  • Valuation Cap: $10,000,000
  • Min. Investment: $100

(Data as of June 2021.)

Chatbiz: WeFunder Campaign Highlights

1)  Enable businesses to take orders, accept payments, and handle customer services on WhatsApp.

2) $7K MRR with 50% MoM growth. Organic referral and word of mouth, already generates profit.

3) Customers have 2x their revenue & 3x DAUs by using us.

4) 5M online potential businesses customers. We charge $150/month on average. $9B total market.

5) Notable clients such as Eden Farm (YC S19), Kino (Publicly-listed company), Isuzu (Automobile)

6) Young experienced founder: 22 y.o. w/ 8+ yrs programming experience. Dropout of college to focus.

7) Founding team includes ex-Roland Berger. ex-Qiscus, and second-time startup cofounder.

Did I Invest In Chatbiz?

I’m still in the process of writing a full deal report and decide whether or not I will invest in Chatbiz on WeFunder. At Angel Notes, I review 100+ pitches on 10+ platforms every month and send a detailed report every Saturday to subscribers of the Angel Notes newsletter (you can join through the form below). See you soon!

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