The Exchanges

Q Yeah. Well, we jumped into the numbers a little quickly there, but let's back up, let's back up a second, right? So, so the company, right? When I hear e-commerce, like there's a lot of people where it's not actually a SaaS company. There's some other transaction model, things like that. What, what does Kumo do for the e-commerce companies you're providing? And are you truly a SaaS model?

A Absolutely. We were born natively in the, in the cloud actually. Um, so if, if you take a typical customer of ours, let's say Javi Annis, the big, the flip-flop guys. So we do two things for them. They, they want to sell their product internationally. Okay. So they need an e-shop to do that, right? They need an online store to do that. On the front end side for the consumer. So we create that look and feel through our platform. But on top of that, we do all the back office operations that are required to do e-commerce. So order management, for example, if you're selling on eBay and Amazon and you're selling through your web store, you need an order management system to process those orders. You have a warehouse. We have a warehouse management system. So you need a warehouse management system to manage the people in the operatives in the warehouse. You need, um, a, an analytics tool to be able to report on all of that revenue. We have an SEO tool. So the full stack of technology, we're unlike some of the kind of entry level guys that don't have the full stack. We have the full stack and kind of be, would be at the top of the software pyramid in this space. And if you look at our competitors and who we would liken to, to ourselves, I guess it would be Salesforce, previously known as Demandware in this space. Shopify at the entry level of the market, we're more mid, mid-market and…

AI assessment note: “we do all the back office operations that are required to do e-commerce.”

Q So if you're kind of mid-market and large, I mean, give me a general sense, you know, Shopify, you can get started for like 30 bucks a month. What's your kind of average customer paying per month for access to this tech? Is it, you know, call it a grand or 10 grand a month?

A Sure. So how we work, we are introducing actually a model like Shopify's, uh, which is an entry level product called Kumo light, which will be launching in the market next year. Uh, but for now, the way that we work is we, I believe in kind of democratizing this space. I believe that the e-commerce space in particular has been kind of dominated by the big, big software vendors. You needed a systems integrator and spending millions of dollars to put in place a solution. I believe that that needs to change, and so we, we don't require a systems integrator. We have actually a one-click ecosystem of partners that are built into the platform that you can future-proof your e-commerce solution with, so you don't have to pay a systems integrator to do that, so that's the first difference in the pricing model and the way that we launch and implement the e-commerce solution for customers. There's a setup fee, ah, so the setup fee can be anywhere between 20 and 50 K, and that covers the onboarding process, which is typically six weeks to three months. Can be longer for large scale customers, like Morrison's is in, you know, the largest supermarket, one of the largest supermarket chains in the UK. Their recent customers just come on board, and that can take six to nine months, right? They're a big nine billion dollar company. Um, and so there's a setup fee, and then we believe in a shared …

AI assessment note: “setup fee can be anywhere between 20 and 50 K... charge a revenue share”