Infabode connects industry professionals with key information and data from the Real Estate industry through a members only platform.
Infabode aims to reduce the amount of time people spend trying to access key information from the Real Estate industry and allows its community of members to customise the content that they have access to.
Companies provide their industry information and data to Infabode in exchange for the increased marketing reach. The platform boasts over 400 industry partners and thousands of pages of industry data.
The Infabode vision is to initially become the 'go to' place for all global industry research and information, enabling users to customise and access this data with ease. Beyond that, Infabode wants to become the platform from which other online real estate products can integrate into- effectively becoming the to go place for all industry information, data, transactions and products.
The Infabode CEO was left frustrated at both university and his initial jobs when trying to access industry information, as he explains below:
"Google is great for finding a single fact but as soon as you want to analyse a market or sector it quickly becomes information overload & you're required to click on (and often sign up to) multiple websites.
We quickly identified that this problem was especially an issue in the Real Estate industry. Thousands of companies were releasing valuable industry information & data for marketing purposes but only to their existing clients. The problem with this was two-fold... it was hard for companies to reach new potential clients & those that were trying to find this information was lost in Google or only getting information from a single source."
We felt that if we could have all of this information in one place and we could allow each user to customise the platform to their own interests, then we'd have a very powerful platform."
Substantial accomplishments to date
March 2016 - The official launch of the company at MIPIM Cannes. Although the company had been founded years before, it remained in beta mode while the prototype was being developed.
June 2016 - The company has raised a total of £853,000 since launch, including a successful equity crowdfunding campaign. Most of the investment has come from highly regarded industry professionals.
August 2016 - Just five months after launching, Infabode had over 100 content providers registered. This exceeded the initial target of 100 in the first year.
December 2016 - Infabode reached the milestone of 200 content partners.
March 2017 - Infabode celebrated it's first anniversary at MIPIM Cannes, recording a new record of over 100,000 pages of industry information on the platform.
October 2017 - Infabode grew organically, with minimal spend on marketing.
November 2017 - 400 companies registered.
November 2017 - Infabode Launches iOS App.
January 2018- 420 content partners reached, and this includes most of the largest real estate agents, banks, and investors.
February 2018 - Or February 2018- the business has recorded £30,000 in revenue so far in its 4th quarter.
Infabode is building a platform for the industry, so like other platforms (i.e. Facebook, Instagram, Twitter) the main focus in the early years has been growing the importance of the service.
The company produces revenue from integrations (allowing other companies to have access to the Infabode data and functionality) and highly targeted advertising products (which allows companies to get directly to their target market).
Two other products will start producing the platform revenue in 2018/19 with paid analytics, so that companies can track the reach of their content and premium users, allowing increased functionality to members (i.e. search filters, events calendar and messaging).
Use of proceeds
Infabode expects the breakdown of costs for its global expansion to be as follows:.
78%- staffing costs
12%- marketing and events
6%- server and tech costs
There's an immediate need to expand the Infabode team to keep on top of the increasing number of partners and integration deals. Two senior tech hires are needed and a commercial director. These three hires will take the Infabode team to ten people who will form the base of the company's growth, along with the support of the experienced board and industry investors.
Infabode is focussed on the Real Estate industry and particularly those that require information on the market. The platform covers a broad range of sectors, from the traditional asset classes such as the office, residential or retails markets, through to technology, legal and capital markets.
Infabode has a broad range of members from across the different sectors although the most active members are investors, developers and agents.
Characteristics of target market
The size of the professionally managed global real estate investment market grew to 7.4 trillion in 2016 (MSCI Report, 2017). The UK real estate market is valued at £1.6 trillion, and directly employs 2.1 million people (British Property Federation, 2016).
Infabode aims to reach 7.2% of those working in the global real estate market by the year 2021/22.
Infabode has a number of ways that it plans to reach its target market. Currently, most of the growth to 17,000 members has come organically, mainly through word of mouth and through the companies that have partnered with us to provide content.
The marketing expansion strategy includes:
- Digital advertising
- Integration deals
- Industry events
- Member Association partnerships
- Companies adding their staff
- University Partnerships
Infabode doesn't have direct competition for collating industry research and news on a single platform through industry partnerships, although the platform does compete with other ways of accessing this information (Google, RSS feeds, Social Media).
Infabode is likely to compete when it comes to building the platform from which the industry operates from. Although no other companies have publicly stated their intention to build such a platform, businesses like VTS, Altus, Yardi and Moodys are all well positioned to compete.
Infabode believes that it's well positioned to build such a platform (Apple App store of Real Estate) as it requires large amounts of collaborations, of which Infabode has already formed hundreds.