SHARKMARX
East Hartford · Founded 2013
About SHARKMARX
SHARKMARX is a cloud-based purchasing platform for the home improvement industry that uses reverse auctions to save buyers an average of 15% on materials. Using crowdsourcing, SHARKMARX generates competitive bids on products like landscape materials, building products, and equipment. With traction in the Northeast U.S. SHARKMARX will move into nationwide expansions. Phase I Landscaping industry | Northeast U.S. | in progress SHARKMARX successfully proved its concept by focusing on concrete pavers and walls and natural stone products in the Northeast U.S., a $309M market segment. The launch was designed to validate the model and build brand trust for a new technology prior to expanding into the $1.9B national market. These sales came from SHARKMARX’ “Get YOUR Price” reverse auctions, where contractors post their material needs and maximum price to open bidding. SHARKMARX automatically solicits real-time, competitively priced bids from suppliers. This bidding process drives prices down for buyers, while suppliers are able to expand their sales channel and reduce late receivables with SHARKMARX’ “patent pending” electronic payment process. SHARKMARX has two primary revenue streams, both derived from the seller: • Annual subscriptions of $99 • A transaction fee of 3% SHARKMARX will begin transitioning into its Phase II implementation during late Q3 and Q4 of 2013. This calculated, phased approach has helped SHARKMARX build brand trust among its initial target customer base, making it easier to convert and grow these customers into SHARKMARX Phase II rollout. Phase II Landscaping industry | U.S. | growth stage As SHARKMARX builds brand trust with its landscape contractors, mason contractors, and suppliers, it can expand its business organically. As its customers realize savings on their hardscape goods, they will want to realize similar savings on other products they purchase. SHARKMARX can expand vertically with other products such as mulch, equipment, etc. SHARKMARX has already experienced this expected progression, successfully completing auctions for Ice Melt, Heating Oil and requests for lumber and fencing. These additional materials in the landscape/masonry vertical market present significant opportunities to SHARKMARX. The table below illustrates the magnitude of this growth potential. Phase II – Vertical Market Opportunities Market > Market Size Concrete pavers and walls* > $1.9 Billion Commercial mowing equipment > $5 Billion Mulch and Topsoil > $1.6 Billion Commercial Utility Trailers > $600 Million Waterscapes > $150 Million Heating Oil** > $11 Billion Raw Materials > $13 Billion Ice Melt ** > $2 Billion Phase III Home Improvement industry | U.S. | growth stage Similar to Phase II strategy, Phase III will capitalize on brand trust and proven savings performance established during its launch phase and expand into horizontal markets under the home improvement category. The targeted buyer in other home improvement markets has a similar profile to that of the current SHARKMARX landscape and masonry contractor. Similarly, the problems facing a home improvement contractor are analogous to those facing the landscape/masonry contractor. (See "Buyer Profile" and "Problems > Solutions" on following pages.) The table below illustrates the market opportunities to expand into other horizontal markets in home improvement. Phase III – Horizontal Market Opportunities Market > Market Size Roofing shingles > $3.3 Billion Decking > $3.1 Billion Siding > $6.3 Billion Windows > $5.7 Billion Doors > $6.3 Billion
Company Facts
- Founded: 2013
- Operating status: Closed
- Company type: For Profit
- IPO status: Private
- Employees: 1 – 10
- Estimated revenue: Less than $1M
- Total funding: $104.0K
- Funding stage: Seed
- Last round: Seed (Oct 2013)
- Website: sharkmarx.com
- Phone: 888-299-3126
Social Profiles
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