Bob Chua – BlinQ

πŸš€ Bob Chua - BlinQ

πŸ‘€ Bob Chua (Contact detailsπŸ”’)
πŸš€ BlinQ
πŸ“ˆ Seed
πŸ’° (Raise dataπŸ”’)
πŸ“ Retail FnB
πŸ›  AR based ecommerce platform for Luxury Fashion
🌐 Malaysia

Disclaimer: all data provided by Startup at time of Pitchdeck Asia TV show broadcast. All data subject to change.
Pitchdeck Asia does not guarantee authenticity or credibility of source.

Funding

  • Raised US$2 Million Seed fund recently.
  • Planning to start raising Series A in 3-4 months, already in discussions with VCs and funds.
  • Raising Funds to – Accelerate Platform Development, Expand regional teams, Marketing, Customer acquisition, M&A (across technology & geography).

Market

  • Luxury ecommerce market estimated at $330 Bn in 2018, predicted to reach $500 Bn by 2020, Asia contributes to 44% of the global market.
  • Average S.E. Asians spend 3.6 hrs on mobile per day (highest in the world).
  • Subscription economy growing at 100% per year over last 5 years; US$ 2.6 Bn. sales in 2016, up from US$ 57 Mn. in 2011.
  • Global logistics market is estimated to reach US$15.5 Trillion.

Problem

  • Retail business is volatile & short-term –
    – High operating costs, rental costs
    – >60% Product returns
    – Big ecommerce players affecting offline sales.
    – Tyranny of now.

Solution

  • AR enabled ecommerce platform delivering end-to-end services to users, from Digital instore changing room to product delivery at user’s door step.

Revenue Model

  • Online ecommerce platform
    – Product Sales / Rental / Subscription
    – P2P marketplace commissions
  • Application sales of AR platform for Brands using brick & mortar stores.
  • 3PL to brands

Team

  • Founder with 20+ years of experience across multiple industries like technology, analytics, ecommerce, finance. Held Advisory/consulting roles with players like Amazon, Net-a-Porter, ASOS, Zara etc. Ex-founder of now listed data analytics company.
  • Management team from previous entrepreneurial venture Pulse Group working with founder at BlinQ.
  • Expanding team of developers, BDs, buyers etc. based majorly out of Malaysia.

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