Analysis of ICO Bigbom Eco
ICO dates: 10.04.2018 - 15.05.2018.
Bigbom Eco is a decentralized platform for online advertising and all its participants: advertisers, service providers, content publishers etc. It contains from these parts:
- Bigbom Marketplaces – database of all service suppliers
- Bigbom iAds – advertising system with automatic optimization of channels (like FB, Google, Instagram and Twitter) based on conversion rates data, cost prices etc. This tool makes possible for advertisers to plan campaigns.
Alpha version of iAds was released in Sep 2017, beta version will be released, according Roadmap, in Q3 2018 (iAds) and Q1 2019 (Bigbom Eco).
Whitepaper contains detailed business plan, for several scenarios of funds received during ICO (which also depends from ETH movement to fiat currencies), with analysis of expenses, calculated EBITDA on 2018-2020 years (and on first 2 years it will be negative because of realistic sells forecasts) and risk analysis.
Funds received will be sent mostly on product R&D (40-45% depends from scenario) and marketing (26-33%), which is realistic from start-ups.
Sales plans were calculated from advertising volumes reported by Facebook and Google and aren’t promise big sales at first year (which is usual for many projects presented).
Marketing strategy which was presented in WP is detailed on stages: first stage is Asia (excluding China) and the US. Marketing strategy depends from funds received during ICO via “Network Growth” fund and based on different partnership programs.
Team contains mainly from IT professionals and two marketing persons. Founder has successful startup experience of Adtop company.
Advisors team consists from one financial person, three blockchain/crypto-world professionals and one IT/cyber-security person. So, all the team looks well-balanced, professional and with real LinkedIn profiles.
The Vision of the Market
Founders presented short market research (based on trusted statistic information sources) of global online advertising market with selecting global providers (Google and Facebook), current market problems (preparing efficient advertising campaign for customers with optimizing budget, non-payment risk for service providers) and ways how the product can help in solution of these problems.
Understanding of the Target Audience
Target audience is all online advertisers’ community, especially new established businesses because for them budgeting issues are more serious; and competition is more sharp than for existing businesses.
The product is a tool for preparing, planning and performing online advertising campaigns, so it probably will be less expensive and more efficient for customer than direct usage of existing tools like Facebook and Google .
Project strong sides: product as interesting tool for final customers; detailed business-plan and marketing plan; good knowledge of market.
Project weak sides: online advertisement market probably is very brand dependent, and now there are small number of well-known brands (Google, Yandex, Facebook, Twitter). Product is not a direct competitor for them because will use all of them as advertisement channels, but final customer probably will pay his money to well-known Google, not to new resource.