11 th November 2005 Onic V. Palandjian [email protected] - onic_pala@yahoo

11th November 2005Onic V. Palandjian

[email protected] - [email protected]

University of Athens Entrepreneurship Conference

Onic V. Palandjian - [email protected] - University of Athens Entrepreneurship Conference

AgendaAgenda

ihavemoved summaryihavemoved summary From an idea to a startupFrom an idea to a startup Securing investorsSecuring investors International expansionInternational expansion Selling the companySelling the company Key takeawaysKey takeaways


AgendaAgenda



ihavemoved Limited (IHM)ihavemoved Limited (IHM)

IHM is an change of address IHM is an change of address notification networknotification network

Founded in London in 1999 Founded in London in 1999 Founding team of four (two Founding team of four (two

Greeks, an Australian, an Greeks, an Australian, an Englishman)Englishman)

Royal Mail Plc owns IHM since ‘03Royal Mail Plc owns IHM since ‘03


Process OverviewProcess Overview

IHMdatabase

mover

telephonecompany

electricitycompany

Banks

government

Supplies details

via internet or Paper forms

free tomover

companiespay IHM


Notification from customersNotification from customers


New&Old Address Select Firms Enter Details Confirm

How it worksHow it works


Worldwide economic downturn

InternetBoom

Tech BubbleBursts

IHM milestonesIHM milestones1999SEP

Founded IHM

WebsiteLaunch

1999NOV

2000FEB

1st roundFunding€4.0 Μ

2000AUG

Expansionto Germany

2001AUG

2nd roundFunding€3.4 Μ

2003OCT

Sold IHM

Sold GermanSubsidiary

2003JAN


AgendaAgenda



Finding the right ingredientsFinding the right ingredients

Team with complementary skills Team with complementary skills and common visionand common vision

Location with favorable business Location with favorable business climateclimate

The right timingThe right timing Innovative business with potentialInnovative business with potential Unique Selling PointUnique Selling Point


June 1999June 1999

IHM sparked out of a brainstorm at IHM sparked out of a brainstorm at a London Business School MBA a London Business School MBA projectproject

Draft business plan preparedDraft business plan prepared ihavemoved.com name identified ihavemoved.com name identified

and registeredand registered Limited Company incorporated in Limited Company incorporated in

LondonLondon


August 1999August 1999

11stst business plan finalized (38 business plan finalized (38 versions till sale to Royal Mail)versions till sale to Royal Mail)

Meetings with potential partners, Meetings with potential partners, clients and VCs who improved the clients and VCs who improved the concept and revenue sourcesconcept and revenue sources

startup loan of startup loan of €€50,000 secured 50,000 secured from HSBCfrom HSBC


September 1999September 1999

Niko & Onic fly Niko & Onic fly to London, to London, decide decide to join IHM to join IHM in a few hoursin a few hours

Technology is Technology is outsourcedoutsourced

PR is outsourcedPR is outsourced


October 1999October 1999

founders work full-time from two founders work full-time from two flats nicknamed “silicon mews”flats nicknamed “silicon mews”

leading law firm “Berwin Leighton” leading law firm “Berwin Leighton” hiredhired

advertising agency “Conquest” advertising agency “Conquest” hiredhired

all work without payment till first all work without payment till first round fundinground funding


At work…At work…


November 1999November 1999

IHM goes IHM goes live on 11live on 11thth

FT write FT write big articlebig articlefor launch for launch


PicturesPictures6000W6000WPublic Public

Relations Relations StuntStunt


PR photoPR photo


November 1999November 1999

Amerada Gas signs first contractAmerada Gas signs first contract PowerGen agrees on first white PowerGen agrees on first white

labellabel Articles about IHM are published in Articles about IHM are published in

all major newspapers in UKall major newspapers in UK Another Another €8€80,000 0,000 invested from invested from

co-foundersco-founders


Original siteOriginal site


December 1999December 1999

British Gas’ intelligence hears British Gas’ intelligence hears Amerada signed and quickly followAmerada signed and quickly follow

Received initial revenue from Received initial revenue from PowerGen white labelPowerGen white label

Berwin Leighton introduce IHM to Berwin Leighton introduce IHM to CNN as an innovative start-up for a CNN as an innovative start-up for a featurefeature

CNN is refused entry at First CNN is refused entry at First Tuesday’s December eventTuesday’s December event


January 2000January 2000

First Tuesday’s January event occursFirst Tuesday’s January event occurs CNN films IHM’s efforts to meet VCsCNN films IHM’s efforts to meet VCs Rothschild’s VC asks for a business planRothschild’s VC asks for a business plan Hyundai President in Korea sees CNN Hyundai President in Korea sees CNN

feature and asks IHM for more infofeature and asks IHM for more info IHM is running out of money…IHM is running out of money…


CNN feature Jan 2000CNN feature Jan 2000


AgendaAgenda



February 2000February 2000

IHM secures IHM secures €4€4million in return for million in return for 25% of the company25% of the company

Investors include N.M.Rothschild’s, Investors include N.M.Rothschild’s, Hyundai CorporationHyundai Corporation

MIT Media Lab & Internet Guru MIT Media Lab & Internet Guru Dr. Nicholas Negroponte Dr. Nicholas Negroponte becomes an investor and advisor becomes an investor and advisor


March 2000March 2000

IHM Rents firstIHM Rents first“real” office in “real” office in central Londoncentral London

Recruitment Recruitment beginsbegins


CNN feature April 2000CNN feature April 2000


May 2000May 2000

‘‘Say it once’ advertising campaign Say it once’ advertising campaign begins in the metro, on billboards, begins in the metro, on billboards, bus stops and on the radiobus stops and on the radio

Re-launch of websiteRe-launch of website Team is now 10 executivesTeam is now 10 executives Contracts with 35 companiesContracts with 35 companies


AdvertisingAdvertising


AdAd


AdAd


June 2000June 2000

Launch seminar at Royal Opera Launch seminar at Royal Opera House. Dr. Negroponte, UK House. Dr. Negroponte, UK Government’s Government’s Alex Alan guest Alex Alan guest speakersspeakers

Team is 16 Team is 16 strong strong



CNN feature June 2000CNN feature June 2000


Thames signingThames signing

Thames Water sign contractThames Water sign contract

Documents

11 th November 2005 Onic V. Palandjian [email protected] - onic_pala@yahoo