eCommerce brand with $200,000 in TTM revenue and $100,000 in TTM profit that is the world's smallest and only smart plug on the planet that is fully voice agnostic (works with Siri, Alexa, OK Google, and IFTTT). Control your home from your phone with the app and every major voice assistant.
✅ $200,000 in TTM revenue (19/20)
✅ $100,000 in TTM profit (19/20)
✅ $16,000 in revenue last month (19/20)
✅ $8,000 in profit last month (19/20)
✅ MFI (Apple) Compliant
✅ UK Manufacturer
✅ Competitors: Eve Smart Home, Opro 9
We have shipped over 30,000 smart plugs to over 16,000 paying customers in over 100 countries! (people use travel adaptors because our open API tech is so unique).
Our USP is our open API for developers. The infrastructure is built on Amazon AWS IOT, we have built our own custom dashboards and tech support for this product.
We are about to launch our brand new WIFIPLUG 2.0 this year and already have 000’s of plugs on pre order.
FW - FreeRTOS
Rated good on trustpilot 350+ reviews (room for improvement here)
Android 10,000+ downloads
iOS apps 20,000+ downloads
Both built on Xamarin (one developer to keep costs down)
Full documentation available on GitHub.
Note - this is not a dropshipping company that we just stick our logo on and someone else makes the stock and the apps.
This is a full blown company. All the tech and IP is owned in house. This would not suit a dropshipper as there is frequent tech maintenance required along with real time chat support.
It could be a lot more hands off by using 3PL warehouse to ship or a distributor, you could outsource tech support and even outsource the tech stack but my team are developers so it makes sense to utilise them.
We are now working in the B2B space with a none competing product (leveraging our experience with this startup).
To build this startup from scratch would cost you (easily) £1M - we have invested 40,000+ dev hours and the brand has a 10 year goodwill value (with trademark).
There is an opportunity to buy not build and leapfrog the competition. We are the only UK smart plug with open API and full Voice control - this gets us a lot of attention and frequent enquiries to build out white label services.
Revenue is from pre lockdown when we had stock and shipped 100% organically.
Revenue since lockdown is really Low, $30k in pre orders for our latest smart plug (launching Q3/Q4 this year). If we had stock at the beginning of lockdown we would be in a very different place right now.
AWS IOT C# FreeRTOS Xamarin WordPress
Eve Smart Home
With 16,000+ paying customers included in the sale, this should be your first point of reference to double down on sales - ideal purchaser would be entering smart home or energy / automation sector.
Opportunities for retail and opening up a pro saas model for annual recurring revenue is the next logical step.
Offering a paid annual subscription to existing users of 4.99 per plug could bring an extra 150k in revenue.
Opportunities to extend the range (We devised SENSE but ran out of money!)
Improve conversion rates
Add new product features
Expand to new markets
Focus on SEO
Social media marketing
10 year old brand
Codebase and IP
Social media accounts
Will Disclose Metrics