https://youtu.be/arm0FWIRWTM

Live commerce enabler for social media sellers

Bakoel Omah builds plug-in tools to help online sellers uplift conversions from live-shopping sessions across of all social media platforms simultaneously, just by enabling live comments capturing for seamless checkout

Jakarta, Indonesia / Jakarta, Indonesia

- POC trials with no-code tools in the last 3 months.
- Based on initial users feedback, currently building a mock-up to be used for users acceptance testing.

- working on this problem close to 6 months
- right now doing it full time with side hustle to sustain income

We experimented with 5 small-to-medium (F&B) brands during our initial POC trials with different pricing strategy. Each of these brands paid us a one-time fee; with the highest being $30 and lowest being $7.50. The median pricing we observed was $21.

Our revenue model will be a monthly $20 subscription fee, paid annually.

We have not applied to YC before.

Currently none

I had 8+yrs of extensive experience in omnichannel product launches from my past tenure working in multinational FMCG company. Also prior to building the current startup, I served as CEO of an Indonesian Adtech startup where we focused on increasing conversions for offline merchants by delivering a targeted online-to-offline (O2O) experience for their customers.

Better solution for uplifting conversions is needed since over-reliance on paid ads and/or promotions for products listing (discovery) on eCommerce platform no longer gives sufficient ROAS due to lack of product trust and engagement between brands and customers.
Video and live stream contents, combined with great users experience, drive better conversion up to 10x; considerably better than the average 3% conversion rate observed on eCommerce platforms.

In SEA market, we operate in the same space as Shopee Live (ecommerce-based) & TikTok Live (social media-based).
But instead of operating from one standalone platform, our solution can be integrated across all social media livestreams simultaneously, giving sellers better exposure to amplify their reach & growth.

Our global comparables are Firework and Whatnot from the US. To be successful in Indonesia - where the market is very fragmented - our focus on localization & content distribution network will be our key moats in competing with global players.

We will initially charge a $20-monthly subscription fee (paid annually - $240/per annum) for basic plan with up-to 3,000 checkouts being processed using our tools.
For premium plan, we will charge $50/month (>3.000 checkouts).

With assumption of 20% m-o-m growth rate and 3% monthly churn, by the end of Year 1 operation, we are projected to achieve an average of $40K MRR.

Operating company will be based in Indonesia
Holding company will be based in Singapore

None so far

The codes are currently being written by early employees (junior developers), working directly with the CEO.
They opt for cash components, but not equity at this moment.

The original candidate for CTO was an old friend who went to the same University as the Founder.
We both discussed the original problems and the idea at inception late last year, but he ended up not joining the company due to his commitment to his family business, and due to the uncertainty of startup success rate in competitive market.

- excellent distribution for launching the product & potential strategic partnerships with other companies
- access to world-class mentors and founders, being part of esteemed startup community around the world
- battle-tested methodology and strategy to increase success rate in building an enduring company

Hard not to know about Y Combinator if you're a startup founder working on building a product that people want.