Describe the company as an elevator pitch:
Mambo24 has over 10,000 regular customers, over 500 partners selling consumer products, more than 300 food delivery services from 20 Russian cities, and air tickets to all destinations from 300 world airlines. We developed a unique business model that combined the most popular sectors of e-commerce: sales of consumer goods, air tickets, food delivery. Secondly, our team of developers has created its own three-phase system for goods checking, which allowed to exclude low-quality and non-demanded offers. Thirdly, we offered favorable terms of purchases for our customers – guaranteed cashback from each purchase. This allowed Mambo24 customers to buy any product 30% cheaper than in other online stores.
Mambo24 project is a successful and progressive business today, which is among the top ten online marketplaces in Russia by the number of products and services on one platform. The company turnover exceeded 30 million rubles last year.
How are you different?
There are a lot of differences, these are the main three: firstly, as a business we are very effective. We are not a usual marketplace that collects goods of partners in its own warehouse (we do not have expenses for warehouses, also for goods and logistics), we also have all the stages automated so we have a little wage fund. Secondly, we create favorable conditions for purchases for users, they can always buy up to 30% cheaper on our site than in the online store and still get cashback. Thirdly, we have created favorable conditions for placing goods and services to our partners, payment for commission only at the time of sale of goods and services (% lower than competitors due to business efficiency)
Why will you do well?
We are doing well. We are already operating in two countries.
Where are you based?
Baku and Moscow – mainly in Moscow, we are planning to move to USA or Canada in 2019.
When was the company launched?
In 2014 in Azerbaijan and in 2016 in Russia
What have been your biggest wins to date?
We have over 10,000 customers and Swiss Appraisal estimated our project in 2017, $32 million.
Who are you trying to attract to your product?
More buyers, more sellers and of course more investments.
What tips would you give to others looking to build their business?
Be strong, be patient, believe in yourself and act!
Tell us about your team?
Our Founder and CEO is Emin Garayev, PHD in economics, the author of a dozen scientific publications, an expert in the field of e-commerce. Founder of several offline and online business projects.
Karina Krupenchenkova is our Marketing and PR with experience in PR communications for more than 10 years. She worked with such brands as DTEK, Russkoye Radio, Hit FM, Kiss FM, Rednex, CryptoArt and others.
?van Makarenko is our CTO, a senior IT engineer with deep knowledge of blockchains, distributed datastores, consensus algorithms, cryptography, security, analytics and big data, head of the development team.
What are your plans for the future?
Main plans: to launch projects in India, Indonesia and in Turkey, create P2P (peer-2-peer) – logistics, the creation of a mechanism for crediting participants in the system (buyers and sellers) using mbc and the implementation of artificial intelligence technology.
What tech gadgets do you wish you could use to help you?
It would be great if we could be in different dimensions at the same time, I think then we could do more.
How do people get in touch with you?
My contacts: [email protected], @eaxale