the way people buy and sell cars hasn't
really changed much over the last 20
years we still use many of the same
methods to buy cars as we did when the
car first came out a hundred years ago
on average a car we spent 17 hours
looking for a car and we do this because
there's a lot of money to save on a
great deal thanks like fine finding a
great deal is hard because there's no
centralized platform inconsistent and
illegitimate information and no
standardized pricing in the MENA region
introducing seize seize condenses their
entire search process into one
transparent and a I powered surgeon to
move to demo move to demo this is Ilyas
Ilyas is a car he likes on the street
and takes a picture of it to see which
car it is immediately he sees the the
estimated value of the car and this
expected depreciation the AII behind the
pricing even scans the markets who
constantly adjusts its algorithm to make
sure that it stays relevant with the
market as it is currently Ilyas decides
to search for the car and immediately
sees all cars on all websites in the
whole country and finds all the best
deals when he searches our AI
negotiation chat box Caesar
automatically contacts every single
dealer to ensure that he gets the best
deal out there so when he's ready to
search you have already we will
already have negotiated some cars so he
can see what their final price is and
when he finds a car he likes he's with
the help of our watts of integration he
simply presses he simply contact the
seller and books a test-drive
all with the help of C's back to
presentation
in the car buying process we focus on
the search of course regionally our main
competitors are the existing online
classifieds globally however there are
some competitors that offers some of our
features but they lack some of the
technical capabilities we do they do
price estimation but they don't use AI
to enhance their prices to mission and
none of our competitors negotiate the
car prices on behalf of the customer
since launch we've reached top three in
our category above apps like tinder and
Dropbox we've seen some amazing growth
since launching the app we currently
grow twenty percent month-over-month and
twenty five percent of all searches made
inside the app converts into leads
that's generated over 80 thousand leads
and we're excited to announce that we'll
be expanding into Saudi Arabia before
the end of 2018 and we plan to grow into
three to five more countries every year
moving forward to tackle the nine
billion dollar automotive market apps we
are you we have three channels of
monetization we work with OEMs and
certified dealers to offer to send them
leads on their featured cars both a new
and used cars and with our comprehensive
view into the ecosystem we offer brands
like Audi and Mercedes of detailed
business intelligence tool into the
market so they can see the current
ecosystem their brand loyalty and a car
with a retail inventory we also partner
with added value added services such as
banks insurance companies and service
packages we're excited to announce that
we're introducing a new feature into the
CSF now you'll be able to lease cars
through the C's app so now instead of
just seeing new and used cars you can
also see the leasing options for these
cars we'll be launching a and
about 60% of cars on the roads in the US
and EU are leasing cars
whereas in Mena it's only 1% and with
women entering the Saudi market this is
a golden opportunity to grow the leasing
market in the MENA region we're excited
to be announcing that we will be
partnering with some of the top brands
and we'll be live offering over a
hundred different models with these
partners our CEO tarik comes from a BC
and investment background with some top
firms and I come from a big data and
machine in background our team consists
of 7 out of 11 our team our developers
and four of them have a machine learning
or AI background C's has single-handedly
wheels together the highly fragmented
order listing market so that when you're
looking for a car you can see both
buying and leasing so you can get the
right car at the right time at the right
price we're currently operating in to
pay and the and Kuwait and will soon be
expanding to Saudi Arabia so if you're a
car dealer or brand or have offer any
value-added services to course visit us
on seas paseo today okay questions I'm
gonna put you on the spot you were
saying 60 percent and then you pause for
a bit what was the sixty percent the
curiosity is killing me so so you
mentioned 60% something I than you yeah
60 percent of the cars on the road in
the US and EU are leasing cars oh yeah
yeah so that's what we want to we
believe that maybe not 60 percent here
but we believe and 1 percent in the UAE
exactly in the MENA region in general
sounds good
as a technology like I get the
gamification of you know taking a
picture and but then how are you
validating that the actual you know
price that you're estimating is what the
price is being sold at especially since
the transaction doesn't really happen
through seas that's a question number
one number two you're estimating 8300
carry salt
how are you estimating that so the first
choice of your first question there is
always inaccuracy especially in
we are here when we don't have like the
validation of how much the desk gets all
for because there is so little data
about all this the best way we do it is
by we're teaming up with partners and
validating through the information they
get such an insurance companies bank
loans we validate through them and then
we also scan the market and train our
data on that so that we ensure that
whenever we've trained our data that
actually matches the market is it not as
it is now it's not from like far from
perfect yet but because it's driven by
AI it will constantly get better and the
more learns about the market the better
it becomes at both predicting the market
value and the depreciation there to
answer your question about how much we
how we estimate we saw this make ours
that's also really hard to estimate
since we don't follow the whole process
we only follow the search part but we
work very closely with the OEMs and
certified dealers and we constantly
check with them how many cars were sold
through you and then we extract this the
conversion and then we started to all
the leads we've sent so we applied that
way how many says of you have gone
through these there what's the number
per month an average so there's the
amount of leads going through every
month so it's about it varies a month by
month but about 5,000 leads per month
okay and how how important is they I
versus it being just another marketplace
I mean what is the user benefiting from
being on C's versus being on another
marketplace yeah so the air part comes
in the negotiation part of the the whole
thing instead of seeing when you look at
a car the Menomonee to see the listing
price but the AI helps you extract that
number that which is the final price
that the owner has in his head extract
that and actually shows that you you
can't see that anywhere else so you have
a unique view into something that would
previously be outside your scope it can
now enter your scope of what's your
budget but you're causing the owners to
sell at the lower price because the free
market has to balance out so what
happened so the owner sells at a lower
price yeah he was like we negotiate and
he will lower the price then when it's a
lower price it will seem like a more
attractive deal on our platform so you
will get more needs that way okay and
because you guys right now from what I
understand you're not in you know
and ten solution meaning transactions
not actually happening on your on your
on your platform yet so how are you what
what's the current business model so the
current business model is we work with
the OEMs to send them leads so every
time we send the lead on either new
they're certified new cars so used cars
and new cars or leasing we make money on
every single lead there and we mark it
there but their cars both on our own
platform and in those campaigns we do so
that we attract more users and do you
know economics add up so that's how we
track money from there then we have a
monthly subscription on our Pistons
intelligence tool and that's with all
the OEMs as well so once they sign up
for the leads we also observe them with
the intelligence tool and that's where
we make our it's because it's official
base we make a monthly revenue from
there as well
what sorry I'm just gonna what what's
the cost structure are the pricing the
pricing model gonna look like on that
business intelligence service so the
base intelligence I can't give you the
exact details cuz it varies by
manufacturer to manufacturer but it's a
it's a substantial amount I have one
question you know when leasing a car or
buying an a used car the first concern
of a the consumer is to check the
history and how can you guarantee the
level of you know exactly curity how can
you provide this so there are some key
things like when you buy a car it's the
price and it's the quality like you just
mentioned yeah and when it comes to the
quality it's really hard for us to do it
based on just the pictures but we do
this by teaming up with trusted partners
that do these kind of services so it's
through partnerships and when their
partner we make sure to show that these
cars are validated and then we also just
show everything else out there so we
can't do the whole validation of every
single father's out there in the market
but we show them which ones we actually
know are good quality or we know the
quality of yes we're doing some kind of
partnership with who can verify the you
know
the chassis yeah so our partners do all
that but we just highlight that these
partners do this these things so a quick
question your biggest challenge doesn't
start up right now what is it our basic
challenge our basic challenge its
biggest biggest yeah that's not the
Saudi market so Saudi is African market
but they have Harrah's as one of their
main websites and figuring out how we're
going to put all their cars there
together is gonna be a challenge since
people put everything from shrimps to
cards inside the car section that's a
big challenge and then how we're gonna
deal with the language barrier that's
also another challenge since our
negotiation chat bot is trained in
English all right let's have one more
round of applause for sea
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