Interview and Ask Me Anything Session with Opiria CEO
Last night we had the pleasure of entertaining the CEO and Co-Founder of Opiria with regards to their project and the Pdata token in our Ramp Telegram Group.
In my former company, that I founded in 2005, we developed and sold a measurement and analysis software with related sensors that allowed car manufacturers, their suppliers and research institutes worldwide to precisely understand driver behavior. The issue was that the participants had to wear many different sensors and were completely wired.
Even worse they had to come into a lab and only one subject at a time could be recorded and analyzed. The advantage was that the measurements and the results were very precise. But the feedback I always received over the years was that this is all great but what they really need is a solution that allows them to gather data from thousands of subjects at a time remotely and the precision doesn´t necessarily have to be that high.
A few years ago there wasn´t a solution for this requirement since measuring data requires "sensors" and I had no idea how to distribute thousands and thousands of sensors worldwide. But with the rise of the smartphone and the smart devices consumers started to wear and carry all those devices 24/7. In addition to that all those devices are also permanently connected to the internet.
After realizing this it became clear to me that this is actually the solution for the "sensor problem". We can simply use what´s already out there anyway. So right after my exit from my old company I started to develop the Opiria-Platform which gathers all that data from "sensors" worldwide and makes the data and the results available to companies globally.
So Opiria is actually solving a big need that the whole industry was expressing to me over many years!
As of today we do already have more than 200 paying customers including Fortune500 companies such as BMW, Audi, Mercedes-Benz, Volkswagen, GM, Nissan, Intel, P&G and Freightliner. Our goal is to have 350 customers until the end of 2019 and it looks very promising that we will reach this goal…especially since our sales partners are strongly increasing their sales numbers over past few months.
Today our customers are using heavily using the different survey and data polling types that we are offering. This allows them to engage in real time with our users through the Opiria app and to do e.g. the following:
That is hugely valuable information for our more than 200 clients and gives them a strong competitive advantage!
Here´s a case study from Mercedes Benz Research in Silicon Valley that shortly describes how they were using Opiria to understand how their clients are using a new app called Mercedes.me that they released:
Opiria is solving one of biggest problems companies worldwide are having. Companies worldwide desperately need personal data from consumers to understand their needs and requirements in order to design products and services that fuel desire as well as perfectly target marketing and sales activities. Because of a lack in understanding consumer´s needs and requirements 70-80% of new product innovations fail what leads to billions of failed investments every year.
Today personal data is stolen from consumers by data brokers without their knowledge or consent and sold for big money. The annual revenue of the data brokerage business is 250 billion USD per year and is growing with 13% every year on average…while consumers are getting nothing! Opiria´s mission is to change that and give back control to the consumer while cutting out the middlemen!
We are building a global sales partner network. Our sales partners are independent companies that are already selling solutions in the market and consumer research sector. We developed a "sales partner on boarding process" to optimally qualify the Sales Partners and to enable them to market and sell Opiria as well as to offer great customer support.
Currently, sales partners have already been found and on boarded for USA, China, South Korea, Malaysia, Singapore and UK.
The advantages of selling Opiria licenses through a global sales partner network are:
Opiria´s current revenue stream is an annual license fee of 1,990 USD per user. In 2020 the Opiria transaction commission will be introduced as a second revenue stream. We will charge a 7.5% commission off each transaction when a company compensates a consumer for buying its data. In 2021 we will allow companies to perform permissioned marketing activities, which means they can direct highly targeted ads to Opiria users and pay them for receiving and viewing the information. We will charge a 10% permissioned marketing fee whenever a company compensates users for sending them ads.
Opiria´s competitors are data brokers and providers of market research technology. The biggest data broker is Acxiom which offers data of almost 200 million US citizens. Acxiom makes an annual revenue of $917 million and is valued at $3.9 billion. The two main competitors on the market research technology side are the two survey platforms Survey Monkey and Qualtrics. SurveyMonkey´s revenue is $220 million at a valuation of $2 billion. Qualtrics makes an annual revenue of $290 million at a valuation of $2.5 billion.
Qualtrics was acquired by SAP for $8 billion at the end of 2018. One of Opiria´s key competitive advantages over data brokers is that Opiria enables the gathering substantially more data, including surveys and specific personal data. In addition, Opiria allows access to that data in a data privacy laws compliant fashion and enables appropriate consumer compensation as a further incentive.
Opiria’s unique technology and platform offers a database with precise consumer profiles, facilitates the purchase personal data in a lawful and highly secured fashion, as well as to pay consumers for their opinions and data. Of course this is done in full transparency designed to build trust, efficiency, and accuracy.
The activities aimed at growing the consumer database consist of marketing activates such as social media, referral fees, CPA campaigns, and internal media buying. Another are partnerships with third parties with very large databases of hundreds of thousands of consumers willing to participate in market research, as well as companies with a large number of active users interested in the deal space of e-commerce, travel and hospitality.
These arrangements will help to grow the Opiria consumer database. In addition, the network effect of existing customers can strongly support the growth of the Opiria consumer database by inviting their own customers to join Opiria, thereby serving their interests in gaining valuable insight from their customers.
We just closed a deal with a company that has 150 million active user. In order to better understand their users a majority of them will be "transferred" to Opiria which heavily increases our global user database!
Utilizing blockchain technology and smart contracts in a very specific way allows us to be fully compliant with the General Data Protection Regulation of the European Union. This is a very important aspect for us since we are European company and we are dealing with personal data!!! But GDPR is not only relevant for European companies but for each and every company that has more than one European user or customers.
We wrote a nice Medium article about "how we enable GDPR compliant trading of personal data" that you can read here:
This aspect is also one of the very important USPs over our competitors!!!
And since we are fully GDPR compliant we are even supported by the European Union. Please watch their support statement here:
Some media and magazines picked up that we are treating personal data in a completely different and much better way than all other companies in the space today and even compared us with Facebook (please see the following article).
How big is your team and what´s your team members´ background?
We have a team of 15 full-time employees. This includes the management which is myself as the CEO. Our CTO Mihai and our CPO Marlene.
I´m holding a Master´s of Science and a Ph.D. in Mechanical Engineering and I have a proven track record of entrepreneurship since 2005 with a successful exit in 2015. Our CTO Mihai holds a Master´s of Science in Computer Science from Erlangen-Nürnberg University.
Before Opiria he was running a software development company and had customers all across Europe and the USA including companies like Audi, Wacker Neuson and Migros. Marlene also holds a Master´s of Science in Computer Science from Erlangen-Nürnberg University. Before Opiria she worked for Siemens and Ergoneers as a product manager and was responsible for B2B software solutions with more than 1.000 international customers.
Our team is pretty "tech heavy" with nine software developers. One important thing that needs to be mentioned about our software development team is that they are capable of building a serial software product which is used 24/7 globally by Fortune500 companies. That proves one the key criteria for success since evolving from a prototype to an actual product is 95% of the challenge and that´s where most of the companies fail. You can meet our dev team by watching this video:
Besides that we do have one direct sales person, one in-house marketing person and one administrative employee.
Why are you doing an IEO after having already raised a lot during your ICO last year?
We selected the exchanges we are working with very carefully. We are only working with exchanges that are fully supporting our needs and that are interested in working WITH us to make our token successful.
A very good example is Tokenize exchange from Singapore. They are strongly supporting the IEO process and are also fully committed to support us longterm when listed on their exchange. Qi (Founder and CEO of Tokenize) even organized an event in Singapore with their high volume traders in which we presented our company and project to them. Here is a video of the presentation:
Doing the IEO allows the exchanges to build a community of traders for the token which will lead to higher trading activity and related volume post listing.
Opiria marketplace is establishing a two-sided token economy with companies on the one side and consumers on the other side. Through Opiria marketplace companies can purchase data from consumers and pay them with PDATA tokens.
That means PDATA tokens will act as the primary medium-of-exchange in the ecosystem. The amount of compensation depends on the type and amount of data that is sold. This can range from 1 USD for participating in a simple survey and can go up to 100 USD for selling one month of web-browsing and online shopping data.
Companies globally have to purchase the PDATA tokens from exchanges in order to compensate consumers. Consumers can either hold the tokens or cash out. This unique token economics automatically leads to a high trading volume that even increases with the increasing number of customers and consumers using Opiria marketplace.
Why is the value of PDATA going to increase?
With an increasing number of companies that are buying PDATA tokens in order to pay consumers for receiving their data the demand for PDATA tokens increases and also the trading volume increases.
We did a due diligence audit last year. The company that performed the audit is Strategic Coin, which is a New York based token research and advisory firm. Besides doing a proper due diligence audit they also calculated the "utility value of PDATA" using the quantity theory of money. Based on this model the calculated utility value of PDATA is > 3.5 USD. You can find the whole report and the value calculation here:
Why should we invest in your project?
Our company, product and project checks all the boxes for being one of the most successful crypto projects. We are an existing company with a working product and hundreds of paying customers. We are tapping into a market that has a annual volume of 250 billion USD…personal data is even called the "oil of the 21st century".
Besides that we are also having patents that are protecting some our core technology. Some of our Fortune500 clients are not only clients but are even heavily supporting us. Dr. Wolfram Remlinger, a high level executive at Audi, even joined our advisory board and helps us with our future development roadmap to make sure that we are perfectly fulfilling our clients´ needs. One important aspect is that we are having an experienced team that knows how to execute and that knows how to build and sell a serial software product!
We are also one of the few projects in the crypto space which is fully open and transparent. We did a due diligence audit in which we received a top rating…and we even published this report. We are also one of the few projects in the crypto space which is fully open and transparent. We did a due diligence audit in which we received a top rating…and we even published this report. You can also find our due diligence here on TrustedInTrading:
One very important aspect for investors is that we have a unique token economics which leads to a heavily increasing PDATA token utility value.
I´m convinced that our company and token have a very bright future and everyone who invested will look back in the future and say that this was a great investment!
Did any funds invest in PDATA recently?
We raised 1.5 million in the IEO so far. Only 500k USD in PDATA are left on Tokenize Exchange. Besides that we just received a major investment over 3.7M USD from SH Capital.
Here is their official press release:
During the ICO last year funds like Direct Finance, ZeroCap, Innovating Capital, Doppelplus Consulting, Generation Ventures, Nötzli Herr & Partner and JAR Capital invested in us.