Kiki, the world’s first AI powered virtual event planner, is about to successfully close its first crowdfunding campaign with Fundit, Israel’s largest crowdfunding group. With 3 days remaining until the crowdfund ends, Kiki successfully raised over NIS 1.5 million.
Kiki is an Israeli startup that is designed to revolutionize the party booking industry by providing full transparency to the party booking process and allowing consumers/party hosts to book their entire event through the Kiki Platform.
Kiki is simple to use and will inspire its consumers to book their special event that meets all their needs. Once the Kiki Platform is provided with specific basic information for an upcoming event (event type, location, date, budget), Kiki provides its consumers with hundreds of bookable vendors to choose from; including event places, caterers, photographers, DJ’s, Event Managers, and other event entertainers. Kiki will ultimately expand its vendor offering to include additional vendor types, such as hair and makeup artists, tent rentals, valets, and other party vendor needs.
Kiki doesn’t stop when the party is booked. Kiki also tracks the event budget and provides alternative vendors as needed. Users can review multiple vendors side by side and review vendor ratings. Once all vendors are selected, users can book and secure their entire event online, send out invitations and manage their guest lists.
Unlike other e-commerce platforms, booking an event is personal and often requires communication with each party vendor. Kiki understands this need and therefore facilitates the communication between its consumers and vendors. Communication between consumers and vendors can remain within the Kiki platform so all party communications and detail can easily be assessable .
“There is a tremendous opportunity to join as shareholders in a company that in a short time will have already skyrocketed"Rinat Salomon, CPA and CEO Fundit
The idea behind Kiki was established by entrepreneur and former hedge fund manager Avraham Mevorah who serves as Kiki’s CEO. Mr. Mevorah is joined by an experienced management team from the worlds of retail, high-tech, marketing and venture capital. “The Events and Party Industry is one of the last sizable markets in the world yet to experience a technological disruption. We are well positioned to be the first one-stop-shop party booking platform” says Mr. Mevorah.
Kiki has now completed the development of the first working version of its platform, which includes Hebrew and mobile versions; with English to be released shortly. After a few months of user experience testing, Kiki plans to go live in the US, UK and Australia prior to launching globally by Fiscal 2024. Future Kiki releases include virtual reality event walk-throughs, vendor website development and hosting, POS processing, and Vendor CRM services.
Kiki is currently seeking additional investors as the crowdfund concludes later this week. Kiki is raising NIS 3 million, with a company valuation of NIS 18 million. With a Global addressable market of 200 Billion USD, Kiki’s investment team believe this valuation is extremely attractive to investors. Kiki’s current investors include multiple high profile Israeli CEO’s and Event Industry leaders, including renowned Israeli Chef Omer Miller. “We want all types of investors to be part of our success story, and therefore our minimum investment amount of only NIS 2,590 through the Fundit platform” says Mr. Mevorah.
The company is coming to market with an innovative freemium business model whereby vendors can initially sign up for free. As the platform starts delivering value to vendors, a monthly subscription fee will be agreed upon, based on a minimum return on investment that can be demonstrated and consistently measured to vendors. In addition, the platform makes it possible to compete directly for the same customer segment against other providers. In this way, consumer traffic is also expanding. Suppliers will be able to improve business performance and will be more aware of customer needs.
As of current date, Kiki has signed collaboration agreements with almost 300 party vendors including The Dan Hotels, and Black & Wine, Israel’s leading beverage supplier. The company also plans on finalizing agreements with over 500 vendors in a variety of vendor categories over the next few weeks. The company says its profit engine is fair, prevents manipulation, and ensures that all parties benefit. The customers who organize the event will not pay for the service, and the vendors will pay a monthly subscription fee based on success and orders.
“We want all types of investors to be part of our success story"Avraham Mevorah, Kiki’s CEO
The event industry in Israel is thriving and this is one of the key reasons Kiki chose to launch in Israel. In Israel alone, the events industry market generates $2.8 billion USD each year. According to Sky Inc. Ltd. Israel is, not surprisingly, a country rich in events and parties and one of the few in which the private segment is even larger than the corresponding corporate segment. This is compounded by the fact that 90% of the population lives in urban areas. In international markets, this is also a larger industry, with an annual turnover of $200 billion.
“There is a tremendous opportunity to join as shareholders in a company that in a short time will have already skyrocketed. Kiki offers a game-changing solution,” CPA and Fundit CEO Rinat Salomon tells us. “The world of parties in Israel and around the world is a booming industry that generates tens of billions of dollars yearly, and Kiki has no competitors. I have no doubt that we have succeeded in bringing an opportunity to the public to enter as shareholders with investment amounts of several thousand shekels in a company that in a year or two will be the “Booking” of the events world.”
Kiki’s crowdfunding campaign is in its final days – don’t miss this opportunity.
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