What was the scope of their involvement?
We had a complex, established pipeline of inbound deals. Essentially, we were getting a lot of people who wanted to sell their site or online business. However, we didn’t have the bandwidth to acquire all of them. For context, we usually acquired 2–3 sites a month, but at this time we were getting 20–30 sites a month into our pipeline. We decided to create a marketplace where we could point all those sites to.
The marketplace needed to be private and gated. Users must pass through certain thresholds to access it. We started expanding on the concept and essential features. The platform would be different from what’s currently available because we do due diligence. We focus on the buyer and make sure they have all the information they need to make a good buying decision. PROTOTYP helped us brainstorm and put everything together.
At the beginning of the engagement, we held a discovery meeting and brainstormed how everything was going to work. We collaborated on how the platform would function and what features it would have. The PROTOTYP team took all of my requirements and then presented me with a plan and quote, which I accepted. Within a couple of days, we had another meeting and started working right away.
They built the platform using React. Everything was custom-developed. The developers only used 10% of the coding they’ve utilized for other projects, everything else was from scratch. We launched a closed beta version of the platform within a month of starting. After a lot of testing, we decided it was ready for a full launch to the public.
Right now, we’re working on the platform’s second version. PROTOTYP is working on a pretty complex bidding and offer system, which is also being built from scratch.
What is the team composition?
Upon engagement, I met with the CEO, COO, lead designer, and lead developer.
How did you come to work with PROTOTYP?
PROTOTYP is a local business here in my hometown. In fact, they’re located just five minutes away from me. I was searching for companies that are local-based but also serve international markets and they popped up. I contacted them and we clicked fast.
I made a few inquiries with other companies but PROTOTYP replied the quickest. They responded within hours of me sending the initial email. The other two firms took two business days to reply. The communication process went smoothly with PROTOTYP, and I really liked that.
How much have you invested with them?
So far, we’ve spent about $110,000. When the project wraps up, we will have spent around $130,000.
What is the status of this engagement?
The engagement started in September 2019, and it’s ongoing. The first version of the platform was finished in February 2020.