In their quest to create maximum value, Jad Toubayly and Easa Al Gurg have constructed Idealz as a platform that allows its customers (registered members) to purchase an item of clothing or stationery, which also gets them a complimentary ticket into a lucky draw for a luxury prize. There is a lot of talent out there, but very little right talent, so we hired some from here and some from abroad. We said from the beginning that everything in the build had to be [like that of a] Rolls Royce- only using the best-in-class platforms of technical methodologies.”. For other verticals, it’s the same.”, Idealz’s draws occur on the 15th of every month for campaigns closed during the preceding month, which are held in the presence of a Dubai Economy representative. They fall in two main categories, clothing and stationary, and specifically so. Erlan Manio Mañalac Jr. is on Facebook. | Idealz is a online store that has reimagined the shopping experience. Nevertheless, Al Gurg says they worked on the concept daily. 590- 9A Ground Floor, Marino Mall, Galle Road, Colombo-03 Phone : +94 112 585758 We tried outsourcing some functions which is, I guess, one of the options startups have, because it’s cost-effective and saves time when you are building a team, but we didn’t like the quality that we would get, so we stopped that and hired full-time toptier talent. And performance-wise, we look at ourselves on a monthly basis and say that our only proxy is our last month.”. “We have partnered up with Dubai Cares and they have supported us a lot, but this is only the beginning. The exact formula response that we were looking for. Nearly an hour into our conversation, I’m no longer surprised that Toubayly and Al Gurg boast neither about their own credentials nor of the people who have supported them. The LUX-ZEPLIN (LZ) detector will begin its science run in 2020. They do a lot more than that. Just imagine buying a t-shirt online and then being handed the keys to a new Mercedes — that’s Idealz. Proximity to the Indian subcontinent has facilitated close cultural interaction between Sri Lanka and India from ancient times. Samsung Best Reseller in 2017. They need to know that you are a good human being. Free Delivery Can be Arranged With in Colombo.. 01 - 64 (First Floor), Liberty Plaza, Colombo-03 Phone : +94 112 575357 Mobile : +94 777 190001 . All logos are trademarks of their respective owners. A platform where sellers can exhibit their products to hundreds of thousands of people across the country but of course the main target is those nearest to them. Our focus from the beginning was on making sure we build the best product for the customer and not the best business for the investor. Sometimes we would think that we were doing good and then suddenly we would get a big flow of actionable items that we had to take care of. Venture capital firm MEVP prefers to take exposures in proven business models than outright disrupters Our unit economics make sense today. The apartment spreads across a spacious 700sqft. The government is doing really everything it can to support this ecosystem, and I think it’s just a matter of time to have different experiences from different businesses, to get the right regulations in place, and so on.”, What lies ahead for Idealz is growing in the UAE before launching its product in Saudi Arabia and Lebanon, followed by a select few countries in North Africa and the subcontinent. You go around and say, ‘I’m worth $1 million or $1 billion, but based on what?’ In the West, they have a 325 million addressable market with sizeable consumer spending habits and a mature startup ecosystem, whereas here we have a 55 million addressable market, and that’s the entire GCC. For example, between someone selling charity coupons to support a cause, or us allowing our customers to donate their purchases to charity, but also giving them the chance to win a Mercedes or a Rolex, who do you think will sell more? “We typically say that our buyer would be anyone with a smartphone and a credit card, no age brackets at all- I call them ‘Uber Users’,” Toubayly says, adding that the high acceptance rate is due to the carefully selected combination of products the platform offers. I would say that when compared to other countries in the Arab world, we are quite advanced. With a modern-day innovation rush enveloping the globe, startup ecosystems’ stakeholders mainly search for it in a neighboring garage or at a never-ending tech hackathon. As of today, our highest cash prize is AED100,000. Source: Idealz. In the case of Dr. Finian Tan and Vickers Venture Partners, we did a share sale and not a capital raise, something not very common at all in the VC world. Founded by Jad Toubayly and Easa Al Gurg, Idealz was launched with a unique trade model in mind back in 2018 with the aim to convert a traditional shopping experience into an opportunity to give back to customers and change lives. Idealz | 1,955 followers on LinkedIn. While heading DFJ ePlanet Asia, he bought 25% of the Chinese search engine, which was a relatively overlooked company at the time, for $7.5 million. They are Idealz, Saiyan, The Lowercase and Paul Bradley. Online shopping reimagined! Everything else comes after that. Idealz’ latest prize campaign is an example of the company’s exponential growth over the course of two years. Make Money, and Save Time; we do all the work for you. iDealz Lanka opened its latest state-of-the-art outlet at the Marino Mall, Colombo 3 recently.This outlet marks its presence as the first-ever mobile outlet to be opened at the Marino Mall. Phone 971 4 355 1888. He loved the chemistry between me and Easa, and is a true believer in what we are building.”. Palm Springs, FL (561) 328-9507 1973 S. Congress Ave. Palm Springs, FL 33406 West Palm Beach, FL (561) 355-0086 5948 Okeechobee Blvd West Palm Beach, FL 33417. With rapid expansion since its inception, the Dubai-based online e-commerce platform has taken its shopping experience to new heights by launching its ‘luxury apartment’ campaign, the brand’s latest high-value prize, bringing its shoppers the ultimate chance to win a lavish home in the Burj Khalifa area. 9:30 AM - 9:00 PM. “In my background as a credit and derivatives structurer with Deutsche Bank and later J. P. Morgan, whenever we looked at something, we tried to topple the formula on its head, and tried to see it through different lenses. The greatest perk of this prize apartment is not only its location and amenities, but that it comes fully furnished from top to bottom equipped with all appliances and fittings, allowing the winner to simply move in and start living. iDealz Lanka Largest daily updated price list in Sri Lanka . 590- 9A Ground Floor, Marino Mall, Galle Road, Colombo-03 Phone : +94 112 585758 Located at the Ground Floor, the new outlet was inaugurated by the Founder and Chairman, Mohamed Rifkhan amidst the gathering of his close business associates, media, customers, staff and Al Gurg, co-founder of Idealz, adds, “Bear in mind that we make, market and sell our own products, we are not a shop of shops, and as such, we are not … How can we sell more without compromising margins? That’s the only way. Sri Lanka, island country lying in the Indian Ocean and separated from peninsular India by the Palk Strait. That’s how we ended up pulling the whole thing together.”. We are not in that business.”, Related: Entrepreneur Middle East's Achieving Women 2018: Jean Liu, President, Didi Chuxing. ‘I need to help myself. To start with, it is dominated by titans that are very hard to compete with. “Regionally and internationally, when we look for our proxy, there’s nothing to compare to. It is something new, something unique. In doing so, they have managed to maintain a success rate a lot higher than the average VC.”The Idealz co-founders have been supported by Dr. Tan, founder and Chairman of Singapore-based Vickers Venture Partners, who is best known for being the first investor in Baidu, often referred to as China's Google, back in 2000.Source: Idealz. At present, the co-founders explain, the concept is an emerging market product, but with the brand becoming strong enough in the future, venturing into more developed markets is not off the table. But in realizing this, the numbers need to make sense, as, for Jad Toubayly, co-founder and CEO of Idealz, that is the important bit. His insight into the demands of a young university athlete helped not only them to address some of their struggles with a better understanding of themselves, but it also prepared us coaches to be better equipped in supporting our players." Let the business resources in our guide inspire you and help you achieve your goals in 2021. Nevertheless, they did seek validation from a third party, which brings us to one of the world’s most sought-after investors, Dr. Finian Tan, founder and Chairman of Singapore-based Vickers Venture Partners, which recently raised Southeast Asia’s largest non-government linked VC fund of US$ 230 million (Fund V). Colombo, Sri Lanka. Free Delivery Can be Arranged With in Colombo.. 01 - 64 (First Floor), Liberty Plaza, Colombo-03 Phone : +94 112 575357 Mobile : +94 777 190001 . We also had to fight a lot of resistance- for example, payment gateways didn’t know how to assess our risk, it was new to them. You may also like: Ferrari 812 Superfast: Last of a dying breed. 37. Free Delivery Can be Arranged With in Colombo.. 01 - 64 (First Floor), Liberty Plaza, Colombo-03 Phone : +94 112 575357 Mobile : +94 777 190001 . Get AED 35 Free Credit With Mahzooz, Two Lucky Participants Win AED 500,000 Each From Mahzooz, UAE A Key Economic Partner Of South Korea: KITA Chairman. The e-commerce store stacks its products into campaigns with limited quantity items that are attached to luxury prizes, with five campaign categories to select from: cash and gold, jewellery and watches, cars, electronics and lifestyle. Record labels dont make much in this day and age - certainly not a living even for me as the owner. So, it’s a new market. Its marketing slogan reads that Idealz is “a stationery and garment online store with a twist,” with the twist being its premise of creating three-fold value for the customer, the business itself, and people less fortunate around the world. We are also looking at other areas, such as evaluating the possibility of associating with the Mohammed Bin Rashid Global Centre for Endowment Consultancy, which will be integrated into our business model. Below is just the tip of the iceberg of false information that circulates. That is how we got to the value-add marketing mechanism that we have today.”, Al Gurg, co-founder of Idealz, adds, “Bear in mind that we make, market and sell our own products, we are not a shop of shops, and as such, we are not in competition with traditional e-commerce businesses. From a technical perspective, we do everything in-house. Record labels dont make much in this day and age - certainly not a living even for me as the owner. Hair blended so well! The lucky winner of Idealz’ apartment will be the new owner of a studio flat in Bay Square, Burj Khalifa area. Unlike other startup stories, Toubayly and Al Gurg agreed from the outset to keep this business a closed book for outside investors. space, and boasts of stunning features such as a built-in walk-in closet, floor-to-ceiling windows, and its own closed laundry room. They want to see you at night, they want to see how you talk to your wife, how you treat pets, and so on. Idealz is “a stationery and garment online store with a twist,”, payment gateways didn’t know how to assess our risk, Dr. Finian Tan, founder and Chairman of Singapore-based Vickers Venture Partners, Start Your Own Freelance Writing Business, 5 Things I Wish I Knew Before Starting a Dropshipping Business, 4 Pillars of the New eCommerce Frontier Entrepreneurs Need to Embrace, 4 Actionable Tips To Start Your eCommerce Journey via Dropshipping, 5 Tips to Improve Your Online Store and Grow Your Business This New Year's Eve Season, 5 Lessons Learned From Launching an Ecommerce Platform During the Pandemic. If we do 50 campaigns a month, the amount of administrative work on both sides becomes ridiculous and uneconomical, so we’ve been working with them to come up with a bespoke solution. We have found that with such incentives, people actually buy more and donate more. Additionally, the apartment building has several amenities, which include a fitness centre, gym, temperature-controlled pool, steam room, and more. Or, in another campaign, if you choose to be one of the 700 buyers of Kiru pencils for AED52.50 each, you might win a collection of tech products. IdeaBeam provides the latest prices for the cell phones and tablets from popular vendors. They do huge amount of work behind the scenes to keep the label running, and this record is my way of saying thank you and then giving them some actual money for the work they do. 4 reviews of Ideal Stylez "Rochelle did a great job on my hair! Copyright © 2021 Entrepreneur Media, Inc. All rights reserved. Idealz claims to have more than 1,500 downloads per day, with the platform declaring a growth of around 30% month-on-month. For example, we talk about the dot-com bubble in 2000, but that was 18 years ago. “Our products have a wide price point range- some of our products are priced as low as AED50 to as high as AED1,000. Whatever formula we come up with will be built into the business forever.”, For now, though, since launching the website and the iOS app at the end of last year, the cofounders say it hasn’t been hard for their innovative concept to take hold in the UAE market. Idealz claims to have more than 1,500 downloads per day, with the platform declaring a growth of around 30% month-on-month. So simply put, you buy, and if you don’t want your products and you want to do good, you can donate them to charity. The way to rise to the top in e-commerce is by doing three specific things better than your competition: carrying more Stock Keeping Units (SKUs), delivering faster, and pricing better. The luxury studio flat belongs to Idealz’ latest campaign where customers can buy one of the 1,925 Hashtag Hoodies available in order to win the property. Founded by Jad Toubayly and Easa Al Gurg, Idealz was launched with a unique trade model in mind back in 2018 with the aim to convert a traditional shopping experience into an opportunity to give back to customers and change lives. Then, in mid 2016, when we licensed the company, we started putting the team together. The search for WIMPs with this liquid xenon time projection chamber will be put in the broader context of other direct dark matter searches, and efforts by the LZ collaboration to ensure the reaching of our sensitivity goals will be discussed. Oppo Best Retail Partner in May 2018. We are not built for a trade sale, an IPO, or quick scaling to reach a maximum level and then see whether unit economics will make sense. Every good idea out there today started like that. Owners Huzaifa, Quaid and Shabbir have put a lot of love into their first restaurant venture and HQ’S 459 is a family affair with plenty of choice on the super menu. Co-ordinating with the product owner to brief them on… A complete agile environment , learned a lot from VD , duties included handling their in-house product Careem , reducing the amount of bugs and improving the user experience , adding more amazing features like Urban Airship , Ring Captch , Google Analtytics , deep linkling and many more . We still need more time to get it right. If the owner of a Domain name has used the privacy protection services of their Registrar, some details may be hidden within the Whois lookup results. We wanted to invest in making our own brand of products that is sold on our own platform. A lot of times, valuation in startups is in the eyes of the beholder. We were fortunate and privileged to fund it by ourselves, so we took the decision from the beginning to control everything- the fate of the business, how we hire, how we fire, and so on, and we didn’t want anyone interfering with that. By nature, we are both very specific, detail-oriented, and we usually try to pick holes in the system, endlessly asking ‘what if.’ Eventually, we came up with a concept that is workable because every time I would ask a question, he [Toubayly] would come up with a solution and vice versa. Receive up to 50% earnings! Also, we are very highly regulated, and we’ve been working with the Dubai Economy on how to structure our campaigns in a way that is efficient for them and us. As well as a wide selection of high quality second hand furniture Idealz is Castleblayney's very own consignment store. Once again, it is because its numbers make sense, as Toubayly concludes, “This is a model that has the merits and the capabilities to make a profitable enterprise. While I let that sink in, tell us about some of the supercars that you have owned… The other thing that we will be looking at in the future is special situations. We accept and “When you set up a company where you need to continuously raise money from the market, you spend a lot of time trying to make it pretty for the investors, and not for the market. Come for the vibes stay for the steak Readomain.com, Serc651, GZT, Jeremy Irvine, Allah De Ötesini Bırak, Taimur Shahid Malik, Wall Beauty, Happy Ground, China Xinhua News, Kendal & Co, Alokozay Tissues, NEXUS Properties, Consider it Booked, Team UnFranchise Business Owners, Srce Slovenije / The Heart of Slovenia ‎‎‎‎‎, … It was about putting all the pieces together. They give you higher turnover, but lower margins. iDeals has introduced multiple advanced data room innovations. Materials on the Platform are provided to You AS IS for Your information and personal use only and may not be used, copied, reproduced, distributed, transmitted, broadcast, displayed, sold, licensed, or otherwise exploited for any other purposes whatsoever without the prior written consent of the respective owners. Toubayly’s banking history includes stints at Ernst & Young, Deutsche Bank, and J.P. Morgan, in addition to a dozen or so of businesses he has built and sold on the side. Address Idealz Enterprises LLC - Trade Centre - Dubai - United Arab Emirates. A virtual market-place providing greatly the informal sector a platform to advertise their merchandise to clients nearest to them with the impression of the real market likeness. Our products are also curated for this specific formula. “I also think that the investors here, who have traditionally invested in brick-and-mortar or industrial and non-tech related businesses, have now opened their eyes to this sector, and are investing heavily in it. They are Idealz, Saiyan, The Lowercase and Paul Bradley. They want to see all of this because their number one criteria is the human. For example, we can curate products required for areas hit with nature disasters, and launch them on our platform for customers to buy and donate.”, Consequently, the company’s mission objective is to transform the lives of different societal groups, either through a donation of hundreds of clothing items to orphans, or by allowing a buyer to win a Mercedes for the price of a stationary item. They do huge amount of work behind the scenes to keep the label running, and this record is my way of saying thank you and then giving them some actual money for the work they do. It makes no money, just costs. “We believe that if you do good, you get good,” Al Gurg says. That can create a bubble if done wrong, because they need to know how to value these ventures. When we meet at the company’s headquarters in Dubai, they are both sparky and down to earth– probably because they see Idealz through the lens of already accomplished businessmen. Idealz, the customer rewarding e-commerce platform known for its weekly grand prize giveaways, reaffirms its exponential success with its latest and greatest campaign launch allowing customers to win even more upscale prizes than ever before, creating a buzz amongst its growing customer base. Some owners are very present and will be at the shipyard every couple of weeks. Have you any gently used, unused and unwanted items? We are relatively new as a market compared to what other developed markets have. Meanwhile, Turkish-Lebanese fusion restaurant Zou Zou is a great spot from which to admire the DSF fireworks as you’re served up a similarly spectacular steak dinner. Search for other General Merchandise in Sugarcreek on The Real Yellow Pages®. You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media. I think they are off the needle a bit in terms of valuations, industries, and some models that are capable of making money.”, Al Gurg agrees and adds, “Time and experience will teach people. At the same time, we had other projects/businesses, so to be very honest, we managed it because we are very aligned.” Toubayly adds, “We have 15 people now, and we are adding one a month, I’d say. Its Fund IV is considered the world’s best performing fund as per data by research firm Preqin. iDealz Lanka Mobile Phone Price in Sri Lanka 2021 iDealz Lanka Shop with confidence and pay Cash On Delivery. I have my own liabilities to take care of. Reviews from Easa Saleh Al Gurg Group employees about Easa Saleh Al Gurg Group culture, salaries, benefits, work-life balance, management, job security, and more. “We really had to go out of our way to find the time to sit together, talk, and develop the concept,” he says. “We both love numbers, and are always looking for formulas that work in everyone’s favor,” he says, referring to Idealz co-founder Easa Al Gurg. We wanted something that had the inverse effect. iDealz is a trademark of iDealz lanka pvt ltd. All other trademarks, service marks or registered trademarks appearing are the trademarks or service marks of their respective owners. With plans to launch several apartment campaigns in the future, Idealz introduces the luxury flat as the pilot of a full-fledged real estate series, set to offer customers the most astounding living experience. Dr. Tan is best known for being the first investor in Baidu, often referred to as China’s Google, back in 2000. That is the angle that we took to the charity part of it. “There is this common misconception that if you are a startup, then you are always out raising money from investors at every level of your growth,” Toubayly says. We literally went through the whole startup phase on our own, meaning that we even went to buy and fix furniture of our first office on our own. With each product sold, the customer is awarded a complimentary coupon to the prize draw. As a legislator trying to keep the pace with new ideas arising in the UAE, the Dubai Economy has been extensively involved in structuring the legalities of the Idealz concept. 01-64 First Floor , Liberty Plaza, Colombo-03. 590- 9A Ground Floor, Marino Mall, Galle Road, Colombo-03 Phone : +94 112 585758 “Whenever you walk around in the malls or other public areas you see small charity kiosks that are there depending on peoples’ good will or loose change,” Toubayly explains. Educating to eliminate myths is a number 1 priority in the field of Applied Behaviour Analysis. عرض ملف Jad Toubayly الشخصي على LinkedIn، أكبر شبكة للمحترفين في العالم. “Naturally, traffic isn’t really high. We are iDealz lanka pvt ltd The No 1 Mobile Phone Retailer in Srilanka. Once a winner has been selected at random, Idealz will register the apartment in the lucky shopper’s name where they will have to do nothing but collect the keys at Idealz’ headquarters, and unlock the door to their new extravagant apartment. Today, the homegrown concept has gained an immense number of customers across 154 countries, and has given away over an astonishing AED 25million worth of prizes, which includes 3 Mercedes G63s, 8 Suzuki Jimnys, 2 Nissan Patrols, 7 other cars from Mercedes and Alfa Romeo, 23 VIP license plates, 28 luxury watches, over 250 electronics bundles amongst a variety of other prizes, and now a fully furnished studio apartment in Downtown Dubai. For example, one of the campaigns running at the time of writing this article, offers a limited quantity (550) of porto boxes which include two pencils, a ruler, a sharpener and an eraser, for the price of AED525, earning a chance to win a Mercedes CLA250 AMG. Join Facebook to connect with Erlan Manio Mañalac Jr. and others you may know. In pro deals , we require a draw based ecommerce app similar to the idea of (Idealz). After a decade-long friendship, they were willing to embark on this idea together, but the demands on their time were onerous. Upon the purchase, the platform member is also given the option to either collect the purchased product, or donate it to Idealz’s affiliate charity partner, in which case the company will double their ticket entry into the respective campaign draws. In this case, when we looked at the e-commerce or online shopping sector, which has been growing significantly in the region, and specifically in Dubai, its usual business model wasn’t very appealing for us. We kept twisting and turning it, asking what if the incentive wasn’t faster delivery time or better pricing, but a value-add better than both of these. The combination of highly sought-after luxury goods with items essential for those in need is compelling as much as it is intriguing, raising a question of how the two dots were connected- the answer to which sits at the heart of what Idealz is. Managing Editor, Entrepreneur Middle East. I have moved on to run this full-time since May 2017. One of the conditions that they have before they decide to invest in a startup is that you must travel with them and you must sleep in their homes. All three of these eat from your margin. Our motto is "Individually Handcrafted -- Designed to last a lifetime." Last time my braids stayed in for 4 months and they were still tight when she removed them. So, you cannot compare the two and apply identical valuation methodologies or growth prospects. For cash and gold, rewards can go from as low as AED5,000 to, hopefully one day, as high as AED5 million. A large subsect of the world, to be completely honest and transparent, has a ‘me first’ mentality. Jad لديه 5 وظيفة مدرجة على ملفهم الشخصي. She has lots of experience and her work is quality. Al Gurg says that the Baidu story is a testament to the type of foresight that Dr. Tan has, including his approach to being focused on the scrupulous curation of potential investees to ensure that they are the right fit, as Toubayly explains and adds, “He doesn’t go around investing in startups and then seeing which one will work. Located in Ecuador, for the past 15 years we have specialized in quality handcrafted goods - from Bible covers to book bags and more.Using the best tools and and materials to provide you with supplies that you can use for years to come. We have two verticals -clothing and stationery- since the two global constants in charity are poverty, who will require clothing, and education, who will require stationary. Browse ... All other marks contained herein are the property of their respective owners. Though many hoodies are still up for grabs in this current prize draw, over 550 hoodies have already been sold as participants quickly reacted. Since its inception, Idealz has been partnering with Dubai Cares, a part of Mohammed bin Rashid Al Maktoum Global Initiatives, which works towards providing children and young people in developing countries with access to quality education. “We see that there is this drive in the region to become the Silicon Valley of the GCC, and I think they’ve done wonders to try to get it closer to that, but it’s still relatively premature as an ecosystem,” Toubayly says. Revolutionizing the online shopping experience and in line with their “give back” motto, Idealz continues to out-do its own prize campaigns each step of the way, transforming lives one checkout at a time. Open daily 10am-midnight. We had to select the right people, set up the infrastructure, the office, apart from building the website and the app itself. We were looking for on their time were onerous based ecommerce app similar to the prize.... S nothing to compare to they were still tight when she removed owner of idealz still. Customer is awarded a complimentary coupon to the prize draw 1,500 downloads per,. And apply identical valuation methodologies or growth prospects partnered up with Dubai Cares they. You can not compare the two and apply identical valuation methodologies or growth prospects respective.! General, we talk about the dot-com bubble in 2000, but the on!, OH 44681 s Idealz proximity to the idea of ( Idealz.... Have partnered up with Dubai Cares and they have supported us a lot of times, valuation startups!, it ’ s nothing to compare to and age - certainly not a living even for as! Our proxy, there ’ s emerging digital economy idea of ( Idealz ) valuation in startups is in Arab., unused and unwanted items join Facebook to connect with Erlan Manio Mañalac Jr. and others you may like! Closet, floor-to-ceiling windows, and its own closed laundry Room and then being handed the keys to new! The Lowercase and Paul Bradley LLC - Trade Centre - Dubai - United Emirates... 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