Today the metaverse is on everyone's mouth for many reasons, but we, as Virtway, had the vision of the actual metaverse 10 years ago and we started to build the technology with our own small resources while delivering consulting services and custom development at the same time.
In these years of work, during which we have perfected our technology, we found a Swedish fund that invested 7M€ in us and we started a journey together.
Although the vision was to create the metaverse for consumers, we had to try B2B to generate cash but, without a proper sales & marketing structure, it was not easy the first years.
During the pandemic, the demand increased organically, and we made 984.000€ during 2020 in 7-8 months with hundreds of events with no marketing, only incoming leads through SEO and our partners. In 2021 the fund started to have the first internal problems and they couldn’t send money for marketing. While our competitors were investing tons of money in promotion, we couldn’t do any. That is why sales dropped to 700.000€ in 2021. It was even worse during the first months in 2022.
If we look back along the way, we have achieved great things together (for example, the pandemic hatching allowed us to generate almost one million euros in 2020 and we have done projects for important companies world wide), but now we need a new and decided partner who can help us to boost our marketing and sales to take our product to the next level.
If you analyze competitors, crypto world and the actual unique capabilities of Virtway there are amazing options for the next years. We have a detailed plan to create a unique metaverse combining B2B and B2C. The experience accumulated during these years, the improvement of our solutions and the market's growing interest in metaverse-based solutions allow us to deliver the first version of our unique metaverse in less than 12 months.
We have the technology and the know-how, we are in the right momentum and we are looking for a partner that will allow us to impact our target market in the best possible way.
We are ready to lead this new era of communication with our metaverse, we just need the right partner to make all our capabilities visible in the market
Metaverse company with revenue for sale for 1€
asked for it to our accounting company but it is negative.
Company General Business Specialty/Industry (Description: What does the company do)
We have the best technology for mobile devices connecting 10 times more users per room than our competitors. In next version we will be able to connect 20 times more.
As we have been working on it for years, our software is the most advanced with more flexibility and funtionalities in the market.
We offfer access from iOS, Android, Windows, MAC and browser
General Business Model and Market
We have a partners/distributors network of 50 certified companies worldwide and other 40 in certification process.
We sell licenses to our partners and they sell services to end customers (companies).
– per user/day
– per premium licenses
– subscriptions per month
Revenue Range Stratification (Product Lines/Service)
Geographic Location(s) and Big Business Line Categories
Since January 2021
Estados Unidos 429146
Reino Unido 42292
Hong Kong 35950
Costa Rica 33388
Puerto Rico 4169
El Salvador 2135
Additional Summary Success/Growth/History “Details” Bullets i.e. Growth, track record, Growth Potential
We never had money for marketing and our revenue was:
Explanation of sales reduction:
– The main reason why sales decreased was the reduction of the restrictions for covid. People started to go back to normal events (presential)
– Our partners (event organizers) did the same. They focused on real life events and we were totally dependent on them at that moment.
– We didn’t have any marketing money to compensate the decrease in sale activities.
Explanation of sales increase since May:
– Companies started to see the metaverse as a real thing not just for online meetings. We have many different use cases (events, training, sales, marketing…)
– We changed the sales person for English speaking customers. The new one is doing a much better job than the previous guy. We have increased the closing ratio and also the revenue per lead.
– We are signing with new partners that are focused on the metaverse as a service, instead of companies focused on real life events.
We want to focus on sales growth on B2B. We have 3 years of experience and we know exactly what the market needs.
Reason for Selling or Seeking Capital
Our investment fund have internal problems and need to stop operating.
They are willing to give up their stake (90% of our company) for only 1€ in exchange for a % in future dividends and the sale of the company.
We are almost on breakeven so with only 1M€ we will have the resources to grow.
Final Standard Comments
Our VC has invested 7M€ and we have created and amazing technology.
We have proven the market fit and we are making revenue. We are almost in breakeven.
We have a plan to grow fast with only 1M€ investment.