Description
Bookeventz was presented in all the chapters and received considerable interest from members. The company is raising a total round of INR 2.5 Crores at pre-money valuation of INR 15 Crores.
List of other participating investors:
Mumbai Angels – INR 80 Lakhs
Lets Venture – INR 102 Lakhs
The total ask from Lead Angels is INR 50 Lakhs. The minimum commitment is INR 3 Lacs. In case commitments exceed the ask amount, allotment will be proportionate. Please note your commitment can only be withdrawn if the Deal Lead withdraws his commitment.
We will accept commitments from 19th October (today) to 21st October 8 pm (Friday).
Many thanks to Ivy Mukherjee and Kushal Khandwala, the Deal Leads, for volunteering their time.
Ivy Mukherjee has committed INR 5 Lakhs.
Kushal Khandwala has committed INR 4 Lakhs.
Brief updates of Bookeventz Investor Call:
a) Business Understanding – End to end venue booking platform with additional services. The current platform lets you see real-time availability of venues along with the rates and one can block or book the venue directly from the platform. Bookeventz helps get the best rates from the venues as well.
b) Revenue Model – Commission ranging between 7-10% per venue booking from the Venues. Vendor booking will also slowly be ramped up on which the commission margins would be higher
c) Competition Scenario
- VenueLook based out of Delhi is currently working only towards venue listing and customers need to contact the venue themselves and make the booking. Overall customer experience is not great
- Bookeventz is working to get the offline market online and is catering to end-to-end Venue booking online
- VenueLook started around the same time as Bookeventz but is doing half the revenues of that of Bookeventz
d) Bookeventz business on the Corporates front and how difficult is it to replicate
- Building a White Label Website for each corporate through which the company can make bookings directly
- List of shortlisted vendors directly; billing through BookEventz reducing hassle of multiple vendor registrations and billings
- Ready discounted packages
- Direct Bill to Company option to reduce hassles or payment
- Creating Invites, maintaining guest list and RSVP with food preference is the next phase that Bookeventz is working on
- Replication by competitors on the Venue Listing front is not as difficult but providing a seamless end-to-end integration with the venues in terms of managing the bookings and giving best rates will not be easily achievable for any competitor
e) Scalability Plan and when will they expand to the rest of India
- Bookeventz is currently operational (venue booking) in Mumbai and Pune but lists venues of 11 cities across India
- Immediate plan is to achieve operational Break-even in Mumbai and Pune in the next 2-3 months, increasing the conversion ratio from 6% to 13-14% and then explore the Corporate vertical deeply as this will be recurring business. Once corporates are on-boarded, it is easy to cater bookings for them all across the country as Bookeventz already has tie-ups with major hotels and venues across India
- Expansion plan is to set up hubs in Major cities and to service smaller destinations around them from the hubs. For example – Mumbai is the hub which services requests for Lonavala, Alibaugh, Goa, etc. Delhi would be able to cater to requests for Jaipur, Udaipur, etc. This would help keep them operationally lean
