It may seem hilarious now, but I can assure you that it wasn't when it first happened. As you may already know, I'm running a real estate tech startup, Krib, that competes against agents and the agent-supporting platforms like propertyguru.com.sg and 99.co.
So two days ago, I was pitching to a room full of angel investors, sharing what Krib is about and trying to garner support for the fledging startup. There was drinks all around, and it was pretty informal. Raise the emotional factor, I figured, instead of regurgitating the numbers all over again. Different strokes for different crowds, eh.
Fast forward to the second slide.
"So there's problems with the marketplace today. You're a tenant, and you want to rent a place. You do a search on Propertyguru and BAM. 1,000 listings. You wouldn't know where to start. And then you go on, and find that there's multiple listings of the same property. There's fake listings. And oh my, the quality on some of them..."
"...and landlords want to list it online by themselves without an agent. So they go onto Propertyguru and 99.co and realise that WOAH. They can't do it! These platforms are built for agents. It's helping agents OWN the marketplace, and isn't that a problem for consumers?"
Third slide, and I get more into it...
"So today our competitors are the advertising sites that just list property online, without guaranteeing any level of success. It's an old model, and Krib offers a success-based business model to ensure our users come out satisfied with it."
Some folks in the crowd nods. They clearly have had their issues with the current renting procedure, and I'm glad they're giving me some positive reinforcement. I keep up the onslaught on property websites and their clients, the agents. My pitch lasted 6 minutes, but I felt I could go on forever.
I ended it flush with excitement. Time to network, time to seal some deals, baby. It's a whirlwind of handshakes, namecards and questions with scripted answers. The mood is lighthearted but I knew I couldn't let my guard down.
I spot a distinguished gentleman just ending a chat with another entrepreneur. He walks over and smiles. I flash a grin and take up my 'bring it on' pose.
He starts first.
"Hi, I was waiting to chat with you, um... Gary. I'm the ex-CEO of Propertyguru."
About this blog
Mostly startup and tech stuff. An occasional rant or two. Travel-related articles are published on my other blog.