Startup Battlefield Mena 2018: Seez (Finalist)


the way people buy and sell cars hasn’t really changed much over the last 20 years we still use many of the same methods to buy cars as we did when the car first came out a hundred years ago on average a car we spent 17 hours looking for a car and we do this because there’s a lot of money to save on a great deal thanks like fine finding a great deal is hard because there’s no centralized platform inconsistent and illegitimate information and no standardized pricing in the MENA region introducing seize seize condenses their entire search process into one transparent and a I powered surgeon to move to demo move to demo this is Ilyas Ilyas is a car he likes on the street and takes a picture of it to see which car it is immediately he sees the the estimated value of the car and this expected depreciation the AII behind the pricing even scans the markets who constantly adjusts its algorithm to make sure that it stays relevant with the market as it is currently Ilyas decides to search for the car and immediately sees all cars on all websites in the whole country and finds all the best deals when he searches our AI negotiation chat box Caesar automatically contacts every single dealer to ensure that he gets the best deal out there so when he’s ready to search you have already nigga we will already have negotiated some cars so he can see what their final price is and when he finds a car he likes he’s with the help of our watts of integration he simply presses he simply contact the seller and books a test-drive all with the help of C’s back to presentation in the car buying process we focus on the search of course regionally our main competitors are the existing online classifieds globally however there are some competitors that offers some of our features but they lack some of the technical capabilities we do they do price estimation but they don’t use AI to enhance their prices to mission and none of our competitors negotiate the car prices on behalf of the customer since launch we’ve reached top three in our category above apps like tinder and Dropbox we’ve seen some amazing growth since launching the app we currently grow twenty percent month-over-month and twenty five percent of all searches made inside the app converts into leads that’s generated over 80 thousand leads and we’re excited to announce that we’ll be expanding into Saudi Arabia before the end of 2018 and we plan to grow into three to five more countries every year moving forward to tackle the nine billion dollar automotive market apps we are you we have three channels of monetization we work with OEMs and certified dealers to offer to send them leads on their featured cars both a new and used cars and with our comprehensive view into the ecosystem we offer brands like Audi and Mercedes of detailed business intelligence tool into the market so they can see the current ecosystem their brand loyalty and a car with a retail inventory we also partner with added value added services such as banks insurance companies and service packages we’re excited to announce that we’re introducing a new feature into the CSF now you’ll be able to lease cars through the C’s app so now instead of just seeing new and used cars you can also see the leasing options for these cars we’ll be launching a and about 60% of cars on the roads in the US and EU are leasing cars whereas in Mena it’s only 1% and with women entering the Saudi market this is a golden opportunity to grow the leasing market in the MENA region we’re excited to be announcing that we will be partnering with some of the top brands and we’ll be live offering over a hundred different models with these partners our CEO tarik comes from a BC and investment background with some top firms and I come from a big data and machine in background our team consists of 7 out of 11 our team our developers and four of them have a machine learning or AI background C’s has single-handedly wheels together the highly fragmented order listing market so that when you’re looking for a car you can see both buying and leasing so you can get the right car at the right time at the right price we’re currently operating in to pay and the and Kuwait and will soon be expanding to Saudi Arabia so if you’re a car dealer or brand or have offer any value-added services to course visit us on seas paseo today okay questions I’m gonna put you on the spot you were saying 60 percent and then you pause for a bit what was the sixty percent the curiosity is killing me so so you mentioned 60% something I than you yeah 60 percent of the cars on the road in the US and EU are leasing cars oh yeah yeah so that’s what we want to we believe that maybe not 60 percent here but we believe and 1 percent in the UAE exactly in the MENA region in general sounds good as a technology like I get the gamification of you know taking a picture and but then how are you validating that the actual you know price that you’re estimating is what the price is being sold at especially since the transaction doesn’t really happen through seas that’s a question number one number two you’re estimating 8300 carry salt how are you estimating that so the first choice of your first question there is always inaccuracy especially in we are here when we don’t have like the validation of how much the desk gets all for because there is so little data about all this the best way we do it is by we’re teaming up with partners and validating through the information they get such an insurance companies bank loans we validate through them and then we also scan the market and train our data on that so that we ensure that whenever we’ve trained our data that actually matches the market is it not as it is now it’s not from like far from perfect yet but because it’s driven by AI it will constantly get better and the more learns about the market the better it becomes at both predicting the market value and the depreciation there to answer your question about how much we how we estimate we saw this make ours that’s also really hard to estimate since we don’t follow the whole process we only follow the search part but we work very closely with the OEMs and certified dealers and we constantly check with them how many cars were sold through you and then we extract this the conversion and then we started to all the leads we’ve sent so we applied that way how many says of you have gone through these there what’s the number per month an average so there’s the amount of leads going through every month so it’s about it varies a month by month but about 5,000 leads per month okay and how how important is they I versus it being just another marketplace I mean what is the user benefiting from being on C’s versus being on another marketplace yeah so the air part comes in the negotiation part of the the whole thing instead of seeing when you look at a car the Menomonee to see the listing price but the AI helps you extract that number that which is the final price that the owner has in his head extract that and actually shows that you you can’t see that anywhere else so you have a unique view into something that would previously be outside your scope it can now enter your scope of what’s your budget but you’re causing the owners to sell at the lower price because the free market has to balance out so what happened so the owner sells at a lower price yeah he was like we negotiate and he will lower the price then when it’s a lower price it will seem like a more attractive deal on our platform so you will get more needs that way okay and because you guys right now from what I understand you’re not in you know and ten solution meaning transactions not actually happening on your on your on your platform yet so how are you what what’s the current business model so the current business model is we work with the OEMs to send them leads so every time we send the lead on either new they’re certified new cars so used cars and new cars or leasing we make money on every single lead there and we mark it there but their cars both on our own platform and in those campaigns we do so that we attract more users and do you know economics add up so that’s how we track money from there then we have a monthly subscription on our Pistons intelligence tool and that’s with all the OEMs as well so once they sign up for the leads we also observe them with the intelligence tool and that’s where we make our it’s because it’s official base we make a monthly revenue from there as well what sorry I’m just gonna what what’s the cost structure are the pricing the pricing model gonna look like on that business intelligence service so the base intelligence I can’t give you the exact details cuz it varies by manufacturer to manufacturer but it’s a it’s a substantial amount I have one question you know when leasing a car or buying an a used car the first concern of a the consumer is to check the history and how can you guarantee the level of you know exactly curity how can you provide this so there are some key things like when you buy a car it’s the price and it’s the quality like you just mentioned yeah and when it comes to the quality it’s really hard for us to do it based on just the pictures but we do this by teaming up with trusted partners that do these kind of services so it’s through partnerships and when their partner we make sure to show that these cars are validated and then we also just show everything else out there so we can’t do the whole validation of every single father’s out there in the market but we show them which ones we actually know are good quality or we know the quality of yes we’re doing some kind of partnership with who can verify the you know the chassis yeah so our partners do all that but we just highlight that these partners do this these things so a quick question your biggest challenge doesn’t start up right now what is it our basic challenge our basic challenge its biggest biggest yeah that’s not the Saudi market so Saudi is African market but they have Harrah’s as one of their main websites and figuring out how we’re going to put all their cars there together is gonna be a challenge since people put everything from shrimps to cards inside the car section that’s a big challenge and then how we’re gonna deal with the language barrier that’s also another challenge since our negotiation chat bot is trained in English all right let’s have one more round of applause for sea [Applause]

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