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IDCEE 2013: Wikimart overview -  Maxim Faldin (Co-founder & Co-CEO @ Wikimart)
Wikimart history
2010

2009

2011

2012

$17 mln

Fundraising
$0.7 mln
from Angels

Business model

$12 mln
from Tiger Global
& Angels

$12.5 mln
from Tiger Global

Marketplace +
Retail

B2C Marketplace

from Tiger Global
& Russian
Institutional Investor

Marketplace +
VMI 1 -powered Retail

Key metrics
7.1

GMV, mln $
5.6

GP mln $
,
Retale sales, mln $
3.4

Merchants
Visits (Dec), mln

1,300

400
0.7
1

2,400

2,200

0.4

1.3

2.2

1.5

11.1

4.6

VMI — Vendor Managed Inventory
overview

2
Wikimart in reality: sweat, mistakes,
and hard-learned business model
2008

2009

2010

2011

2012

2013

Business
model

"eBay for
Russia"

“Russian
Rakuten”

SEO-driven B2C
marketplace

Marketplace +
Stock retail

VMI-driven retail +
Stock +
Marketplace

VMI +
Stock +
Marketplace

Market

Moscow

Moscow

Moscow

Moscow

Moscow

Moscow +
Regions

Key
discoveries

Classic auction-style model
irrelevant in Russia. C2C taken by
classifieds

20,000 online
Merchant quality Marketplace gross
Stock retail remerchants exist in insufficient, can't
margin, service
quires different
Moscow, acquisi- be improved on a quality insufficient, online MKT, sigtion cost low. SEO
current scale
becomes a threat nificant working
works fantastically
capital/warehouse

Model works,
need scale-up.
Merchant quality
improves

Merchants

-

400

1,300

2,200

2,400

3,000

VMI-partners

-

-

-

-

70

200-300

overview

3
Wikimart business model
One-stop-shop
Large available selection
for all my needs

Smart Choice
Easy to make the right choice

Merchants
2,400
Suppliers
100
Wikimart stock
3,000+ SKU
VMI stock
100,000 SKU

23 mln customers

1

Predictably convenient
One service standard
for every purchase

Marketplace
merchandise
2,000,000+ SKU

Human touch
Attitude of a small shop
around the corner

1

23 mln people were making online transactions out of 68 mln people regularly using Internet in 2012.
overview

4
Main e-commerce models

Pure Market Place: endangered species

Vertical e-commerce: not a multi-category player

Offline stores for online customers: no format yet

Vendor managed inventory: future of e-commerce / market place

Flash sales: a feature, not a business

overview

5

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IDCEE 2013: Wikimart overview - Maxim Faldin (Co-founder & Co-CEO @ Wikimart)

  • 2. Wikimart history 2010 2009 2011 2012 $17 mln Fundraising $0.7 mln from Angels Business model $12 mln from Tiger Global & Angels $12.5 mln from Tiger Global Marketplace + Retail B2C Marketplace from Tiger Global & Russian Institutional Investor Marketplace + VMI 1 -powered Retail Key metrics 7.1 GMV, mln $ 5.6 GP mln $ , Retale sales, mln $ 3.4 Merchants Visits (Dec), mln 1,300 400 0.7 1 2,400 2,200 0.4 1.3 2.2 1.5 11.1 4.6 VMI — Vendor Managed Inventory overview 2
  • 3. Wikimart in reality: sweat, mistakes, and hard-learned business model 2008 2009 2010 2011 2012 2013 Business model "eBay for Russia" “Russian Rakuten” SEO-driven B2C marketplace Marketplace + Stock retail VMI-driven retail + Stock + Marketplace VMI + Stock + Marketplace Market Moscow Moscow Moscow Moscow Moscow Moscow + Regions Key discoveries Classic auction-style model irrelevant in Russia. C2C taken by classifieds 20,000 online Merchant quality Marketplace gross Stock retail remerchants exist in insufficient, can't margin, service quires different Moscow, acquisi- be improved on a quality insufficient, online MKT, sigtion cost low. SEO current scale becomes a threat nificant working works fantastically capital/warehouse Model works, need scale-up. Merchant quality improves Merchants - 400 1,300 2,200 2,400 3,000 VMI-partners - - - - 70 200-300 overview 3
  • 4. Wikimart business model One-stop-shop Large available selection for all my needs Smart Choice Easy to make the right choice Merchants 2,400 Suppliers 100 Wikimart stock 3,000+ SKU VMI stock 100,000 SKU 23 mln customers 1 Predictably convenient One service standard for every purchase Marketplace merchandise 2,000,000+ SKU Human touch Attitude of a small shop around the corner 1 23 mln people were making online transactions out of 68 mln people regularly using Internet in 2012. overview 4
  • 5. Main e-commerce models Pure Market Place: endangered species Vertical e-commerce: not a multi-category player Offline stores for online customers: no format yet Vendor managed inventory: future of e-commerce / market place Flash sales: a feature, not a business overview 5