Liberzy – Project that BAP invests in technology development – made 3 investors fierce competition on “Shark Tank Vietnam” on 11/9 although the 3 investors rated that the company is going on the wrong direction and not attractive enough.
Extended arm of online travel agent
Tourism is an addictive field and self-sufficient travel is increasingly popular among young people nowadays. They choose the trend of self-sufficient travel because they want to create their own schedule and its flexibility.
To meet the increasing demand for self-sufficient travel, Truong Duc Thang decided to create Liberzy.
Liberzy is a platform for sharing travel schedules and evaluating travel destinations. If Facebook’s newsfeed is a place to share your thoughts, then Liberty’s where to share schedules and reviews related to where the user traveled.
The founder said Liberzy aims to become a customer-centric, an extended arm of OTA sites (online travel agency). Travel social networks is also like a “playground” to help people exchange, share and inspire tourism.
Especially, when visitors book the service on Liberzy app, it will discount a part of the profits from the OTAs for the writers who share reviews.
Founder and Liberzy CEO called for $ 110,000 for 10% of share
The “pain” of the founder
Officially launched in 2017, Liberzy has about 200,000 users. However, the sales only reach approximately $2,000, mainly from advertising, technology rental.
“For startups, the founders are forced to think of many clever ways to get customers. Liberzy organizes programs such as “Going everywhere together” with the award of a free travel to Da Nang to reach potential users” Thang said.
Liberzy’s idea was in the top 3 of startup competitions and supported by “Vuon uom Song Han River”. The social network also receive the investment of an angel investor in Da Nang.
Joining “Shark Tank Vietnam”, Thắng wanted to find a companion and give him useful knowledge.
BAP has been the angel investor of Liberzy since October 2017, with 35% stake, which is equivalent to US $100 000 in technology value. He sent the “orchestra of sharks” with an invitation to invest US $110,000 for 10% stake.
Liberzy’s technology development team working at BAP office.
Three “sharks” scramble fiercely
Saying that the business model is going in the wrong direction, but considering the quality of the founder, Mr. Dzung proposed to give USD 110,000 in exchange for a 40% stake on the condition that if Liberzy fails, Thang will work for Luxstay – the ultimate foundation. The short-term lease that he is investing.
In addition, the company team will not have to pay office rental for the first two years in Ho Chi Minh City City.
Being so fond of Thang’s daring and changing working style, “grandmother” Do Lien unconditionally accepted the initial figure he made with the promise that she would definitely bring Liberzy to the top.
“Whatever I like, I have to fight for it,” Lien said.
“I’m sure you are looking for a vein. I have it in my pocket,” Binh said.
Mr. Dzung continued to entice the founder, he emphasized: “I never said I would help a startup succeed, but I just said I will accompany them until it fails. And importantly, when it comes to failure, who will be with you”.
After thinking for a few minutes, Truong Thang agreed to cooperate with “technology shark” Nguyen Manh Dung, although his capital package was lower than that of the other two investors, Nguyen Hoa Binh and Do Lien.
Technology “Shark” – Shark Dzung cooperated with Liberzy