“There is this common misconception that if you are a startup, then you are always out raising money from investors at every level of your growth,” Toubayly says. While I let that sink in, tell us about some of the supercars that you have owned… Our products are also curated for this specific formula. Copyright © 2021 Entrepreneur Media, Inc. All rights reserved. Al Gurg, co-founder of Idealz, adds, “Bear in mind that we make, market and sell our own products, we are not a shop of shops, and as such, we are not … We are also looking at other areas, such as evaluating the possibility of associating with the Mohammed Bin Rashid Global Centre for Endowment Consultancy, which will be integrated into our business model. Below is just the tip of the iceberg of false information that circulates. “Whenever you walk around in the malls or other public areas you see small charity kiosks that are there depending on peoples’ good will or loose change,” Toubayly explains. Here at Idealz we sell new and ex display furniture at hugely discounted price. A Pioneer in Virtual Data Room Technology. Additionally, the apartment building has several amenities, which include a fitness centre, gym, temperature-controlled pool, steam room, and more. “When you set up a company where you need to continuously raise money from the market, you spend a lot of time trying to make it pretty for the investors, and not for the market. But in realizing this, the numbers need to make sense, as, for Jad Toubayly, co-founder and CEO of Idealz, that is the important bit. In the case of Dr. Finian Tan and Vickers Venture Partners, we did a share sale and not a capital raise, something not very common at all in the VC world. HQ’s 459 is a family friendly venue with plenty to keep even those fussiest of eaters happy, a labour of love for its owners Huzaifa, Quaid and Shabbir (hence the name). That is how we got to the value-add marketing mechanism that we have today.”, Al Gurg, co-founder of Idealz, adds, “Bear in mind that we make, market and sell our own products, we are not a shop of shops, and as such, we are not in competition with traditional e-commerce businesses. Oppo Best Retail Partner in May 2018. That is the angle that we took to the charity part of it. I have this and that.’ So, going back to our ‘toppling the formula on its head’ approach that we adopted, the question became, ‘How can I get the subsect of the market who typically do not do acts of charity to now start and donate?’ The answer was quite simple– an incentive. Hair blended so well! Get AED 35 Free Credit With Mahzooz, Two Lucky Participants Win AED 500,000 Each From Mahzooz, UAE A Key Economic Partner Of South Korea: KITA Chairman. A virtual market-place providing greatly the informal sector a platform to advertise their merchandise to clients nearest to them with the impression of the real market likeness. The way to rise to the top in e-commerce is by doing three specific things better than your competition: carrying more Stock Keeping Units (SKUs), delivering faster, and pricing better. To start with, it is dominated by titans that are very hard to compete with. Samsung Best Reseller in 2017. There were too many moving parts. Phone 971 4 355 1888. “We really had to go out of our way to find the time to sit together, talk, and develop the concept,” he says. Founded by Jad Toubayly and Easa Al Gurg, Idealz was launched with a unique trade model in mind back in 2018 with the aim to convert a traditional shopping experience into an opportunity to give back to customers and change lives. Picking the winners in Mideast’s emerging digital economy. La Mer, hqs459.com. Jad لديه 5 وظيفة مدرجة على ملفهم الشخصي. Have you any gently used, unused and unwanted items? We were fortunate and privileged to fund it by ourselves, so we took the decision from the beginning to control everything- the fate of the business, how we hire, how we fire, and so on, and we didn’t want anyone interfering with that. Online E-Commerce Platform With A Twist, Idealz, Launches Its First Of Many Luxury Apartment Campaigns! How can we sell more without compromising margins? In terms of prizes, we have five categories to choose from: cash and gold, jewelry and watches, cars, electronics, and lifestyle. Since its inception, Idealz has been partnering with Dubai Cares, a part of Mohammed bin Rashid Al Maktoum Global Initiatives, which works towards providing children and young people in developing countries with access to quality education. I have my own liabilities to take care of. There is a lot of talent out there, but very little right talent, so we hired some from here and some from abroad. I would say that when compared to other countries in the Arab world, we are quite advanced. Or, in another campaign, if you choose to be one of the 700 buyers of Kiru pencils for AED52.50 each, you might win a collection of tech products. UAE Proves Its Resilience As Pent-Up Demand Filters Into The Market, Supported By Government Legislation, Ras Al Khaimah Half Marathon 2021 Partners With Anghami To Create Ultimate Running Playlist, Even More Chances To Win! Join Facebook to connect with Erlan Manio Mañalac Jr. and others you may know. She has lots of experience and her work is quality. Colombo, Sri Lanka. Our unit economics make sense today. Sri Lanka, island country lying in the Indian Ocean and separated from peninsular India by the Palk Strait. Materials on the Platform are provided to You AS IS for Your information and personal use only and may not be used, copied, reproduced, distributed, transmitted, broadcast, displayed, sold, licensed, or otherwise exploited for any other purposes whatsoever without the prior written consent of the respective owners. You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media. iDealz is a trademark of iDealz lanka pvt ltd. All other trademarks, service marks or registered trademarks appearing are the trademarks or service marks of their respective owners. Abans Most Promising Top 6 key Partner in 2018. Everything else comes after that. We are not in that business.”, Related: Entrepreneur Middle East's Achieving Women 2018: Jean Liu, President, Didi Chuxing. Sri Lanka gained independence from Britain in 1948. A platform where sellers can exhibit their products to hundreds of thousands of people across the country but of course the main target is those nearest to them. At the same time, we had other projects/businesses, so to be very honest, we managed it because we are very aligned.” Toubayly adds, “We have 15 people now, and we are adding one a month, I’d say. Co-ordinating with the product owner to brief them on… A complete agile environment , learned a lot from VD , duties included handling their in-house product Careem , reducing the amount of bugs and improving the user experience , adding more amazing features like Urban Airship , Ring Captch , Google Analtytics , deep linkling and many more . “I also think that the investors here, who have traditionally invested in brick-and-mortar or industrial and non-tech related businesses, have now opened their eyes to this sector, and are investing heavily in it. Unlike other startup stories, Toubayly and Al Gurg agreed from the outset to keep this business a closed book for outside investors. I have moved on to run this full-time since May 2017. 590- 9A Ground Floor, Marino Mall, Galle Road, Colombo-03 Phone : +94 112 585758 “We typically say that our buyer would be anyone with a smartphone and a credit card, no age brackets at all- I call them ‘Uber Users’,” Toubayly says, adding that the high acceptance rate is due to the carefully selected combination of products the platform offers. While heading DFJ ePlanet Asia, he bought 25% of the Chinese search engine, which was a relatively overlooked company at the time, for $7.5 million. We had to select the right people, set up the infrastructure, the office, apart from building the website and the app itself. So, it’s a lot more than just making money. With plans to launch several apartment campaigns in the future, Idealz introduces the luxury flat as the pilot of a full-fledged real estate series, set to offer customers the most astounding living experience. Open daily 10am-midnight. Readomain.com, Serc651, GZT, Jeremy Irvine, Allah De Ötesini Bırak, Taimur Shahid Malik, Wall Beauty, Happy Ground, China Xinhua News, Kendal & Co, Alokozay Tissues, NEXUS Properties, Consider it Booked, Team UnFranchise Business Owners, Srce Slovenije / The Heart of Slovenia ‎‎‎‎‎, … Read reviews by dealership customers, get a map and directions, contact the dealer, view inventory, hours of operation, and dealership photos and video. Dr. Tan is best known for being the first investor in Baidu, often referred to as China’s Google, back in 2000. Reviews from Easa Saleh Al Gurg Group employees about Easa Saleh Al Gurg Group culture, salaries, benefits, work-life balance, management, job security, and more. Browse ... All other marks contained herein are the property of their respective owners. Free Delivery Can be Arranged With in Colombo.. 01 - 64 (First Floor), Liberty Plaza, Colombo-03 Phone : +94 112 575357 Mobile : +94 777 190001 . We have found that with such incentives, people actually buy more and donate more. 37. So, it’s a new market. With rapid expansion since its inception, the Dubai-based online e-commerce platform has taken its shopping experience to new heights by launching its ‘luxury apartment’ campaign, the brand’s latest high-value prize, bringing its shoppers the ultimate chance to win a lavish home in the Burj Khalifa area. With each product sold, the customer is awarded a complimentary coupon to the prize draw. If the owner of a Domain name has used the privacy protection services of their Registrar, some details may be hidden within the Whois lookup results. When we meet at the company’s headquarters in Dubai, they are both sparky and down to earth– probably because they see Idealz through the lens of already accomplished businessmen. ‘I need to help myself. The combination of highly sought-after luxury goods with items essential for those in need is compelling as much as it is intriguing, raising a question of how the two dots were connected- the answer to which sits at the heart of what Idealz is. The e-commerce store stacks its products into campaigns with limited quantity items that are attached to luxury prizes, with five campaign categories to select from: cash and gold, jewellery and watches, cars, electronics and lifestyle. A large subsect of the world, to be completely honest and transparent, has a ‘me first’ mentality. عرض الملف الشخصي الكامل على LinkedIn واستكشف زملاء Jad والوظائف في الشركات المشابهة The luxury studio flat belongs to Idealz’ latest campaign where customers can buy one of the 1,925 Hashtag Hoodies available in order to win the property. Similarly, Al Gurg is General Manager at Easa Saleh Al Gurg Commercial and Industrial Group, a family business with more than 650 employees reporting to him. Managing Editor, Entrepreneur Middle East. Idealz, the customer rewarding e-commerce platform known for its weekly grand prize giveaways, reaffirms its exponential success with its latest and greatest campaign launch allowing customers to win even more upscale prizes than ever before, creating a buzz amongst its growing customer base. Steve Voltz "Working with Fabian was a truly educational and enriching experience for our athletes and our coaching staff. Educating to eliminate myths is a number 1 priority in the field of Applied Behaviour Analysis. His insight into the demands of a young university athlete helped not only them to address some of their struggles with a better understanding of themselves, but it also prepared us coaches to be better equipped in supporting our players." On the car vertical, we are working with Mercedes, and we go from as low as an A-Class to as high as a G-Class. Though many hoodies are still up for grabs in this current prize draw, over 550 hoodies have already been sold as participants quickly reacted. We are not built for a trade sale, an IPO, or quick scaling to reach a maximum level and then see whether unit economics will make sense. We wanted to invest in making our own brand of products that is sold on our own platform. Idealz | 1,955 followers on LinkedIn. For cash and gold, rewards can go from as low as AED5,000 to, hopefully one day, as high as AED5 million. “Our products have a wide price point range- some of our products are priced as low as AED50 to as high as AED1,000. No, that’s incredible! We said from the beginning that everything in the build had to be [like that of a] Rolls Royce- only using the best-in-class platforms of technical methodologies.”. Our focus from the beginning was on making sure we build the best product for the customer and not the best business for the investor. We still need more time to get it right. The ubiquitous success of e-commerce retailers worldwide is hardly deniable today, and enough to allow overlooking that the majority of its business models are still beset with bottlenecks in different areas- unless you refuse to turn a blind eye to this, as do the co-founders of Idealz, the latest in a string of promising startup ideas popping up in the UAE. 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