GroopDoo | Updates

By Teram GroopDoo

Why we left secure jobs to go and found GroopDoo


Dear Companists,

In this update, we'd like to focus on one particular topic: Until now, we've written a lot about recent developments surrounding GroopDoo. Most recently in our last update, we reported on some of the obstacles we had to overcome while building our business.  Today's news takes a closer look at the factors that motivated us to found the company.


How the idea came about

In 2013, Paul finished his MBA degree in Madrid and had planned on celebrating the occasion with one final outing together with 15 other students in the Spanish countryside.  But the trip never even made it past the planning phase. Despite having expressed interest to take part in excursion, none of the 15 individuals wanted to invest their time or energy in planning the financial and organizational aspects of the event. What a shame. 

But this event gave Paul the idea to try and find a digital solution to the problem.  In addition to acquiring the necessary finances for the event, the key to putting an end to such logistical conundrums and making this platform work was to find a way to trigger financial transactions once a minimum number of participants is reached.

What began with just a few sketches ended up evolving into a market-based, legal- and-technical analysis before finally maturing to a crowdfunding campaign for the idea.

Paul became aware of the potential of 'small-scale' crowdfunding' or 'group financing' after learning about similar business models, like Leetchi and TILT. To him, this was proof that such concepts can lead to success if you properly execute your idea.  What's more, the renowned publication for digital news, t3n Magazin, also covered their concept.


A team was born

Paul, always a man of action, was so enthused by his idea that he left a secure job at a consultancy firm in order found GroopDoo and pursue his idea.  Devoting all of his time to the project, Paul was able to thoroughly analyze different business models and begin searching for topnotch talent to build his team.

During a visit to Berlin in 2015, childhood friend, Sergius, became interested in the project as well. And so the project continued to pick up steam.  By adding Sergius, who studied physics, the business gained a precise thinker with broad background in technical matters. This addition proved to complement Paul's strengths.  Together, the duo's combined experience and knowledge of technical, business, and creative-related topics fostered an atmosphere in which the exchange of constructive opinions could flourish.  The most important component for a young business - mutual trust - has been built up throughout the 25-yearold friendship.

The idea continued to take shape and both the platform as well as Sergius' and Paul's steadfast motivation excited third parties, like business angel, Frédéric.  Convinced by the two-man team’s previous work and development, Frédéric began to provide the them with office space and IT developers in order to expedite the product’s market entry.


GroopDoo's path to financing

The first steps are characterized by unyielding motivation, convincing partners and investors, and creating a product that will be ready to compete on the market.  At a certain point, additional capital resources will be required to continue developing the business so that investors can be convinced of the prospects of our business model.

A solid platform alone and the potential that lies behind its target market simply isn't enough to guarantee the project's success, however.  Without the competences in their respective fields as well as their passion and conviction for the project, neither Sergius nor Paul would have taken such a risk for this business.

It's not easy for founders to decide to carry the risks associated with starting a business.  And that's why we understand that this willingness to take on risk is also no easy decision to make for those who are not directly involved with the company's day-to-day operations.  It's not without reason that investors, whether they're private contacts, business angels, or venture capital firms, base their investment goals largely on how competent and focused they perceive the founders to be.

However: until the product is market-ready and the founders are able to confirm that it's cost-effective, investors are generally only able take part in this process as observers.   What's more, when it comes to building trust, newer concepts are often at a disadvantage when compared to more established businesses. However, these start-ups tend to offer more company shares for the same investment prices. This means that for the same price, our investors are able to receive many more shares than what's generally possible with businesses listed on Companisto.

Through past pitches, presentations, trade fairs (e.g. "Long Night of the Startups"), TV appearances (VOX), conferences, and panel talks ("Crowd Dialog 2016" in Munich), many people have learned about GroopDoo. We plan on continuing these efforts so they will continue to come into contact and interact with our product.  Through these channels, we hope to receive questions, criticisms, and suggestions for GroopDoo.


Market launch with Companisto

With Companisto, GroopDoo has found the right partner for its market launch.

As the most active private capital investor in Germany, Companisto is well aware of the crowdfunding market and reacted to the potential of our business model early by bringing us on board to their platform.

While we may not yet be able to offer up any figures of historical proportions, we are able to provide a product that makes everyday life easier for many people. And that's why, dear Companists, we're eager to show you that our model, like TILT in the United States or Leetchi in France, would also work here in Germany.

We're aware that investments are associated with a certain degree of risk and hope to gain investors that are motivated by our concept.  And that's why we seek to build off of these relationships by providing you with additional updates in the future and so increase this mutual trust.




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