Australian Tech Start Up Raises Private Investment Capital

10 SEPTEMBER 2013, MELBOURNE, AUSTRALIA
Summary
Founder of DesignQuotes, an Australian services marketplace, has completed a first round capital raising. Investment money will be used to further improve the marketplace software and hire more staff.

Founder and CEO of DesignQuotes, an Australian services marketplace for creative and marketing services, has raised private investment capital to make major improvements to the marketplace software and further invest in an already successful content marketing strategy.

The founder Daniel Duckworth, explains how he almost sold the company before being inspired to raise investment capital and grow the company himself and shares his plans for the company’s direction.

Back in February of this year Daniel was approached by a start-up business directory looking to compete with TrueLocal.

“Initial contact was through a blog post I wrote ranking the top 10 Australian business directories. The start-up liked what we were doing with content marketing and eventually saw a synergy between our quote comparison platform and their business directory. Eventually they made an offer to buy the company to acquire the software and my experience as an online marketer.”

Daniel rejected the buyout offer after being inspired by his business mentors who suggested that raising investment capital would be more rewarding.

“The stars just kind of aligned because I met two mentors who saw the potential of DesignQuotes and made it their mission to help me raise investment capital.”

After a 15,000 word Information Memorandum was written and pitch meetings held, they brought on a few investors. The team behind DesignQuotes will use the capital to complete a business model pivot and invest in their user generated content marketing campaigns.

“We’ve designed a kind of hybrid monetisation model. Members can pay a monthly fee to be part of the marketplace or use a free account and pay a one off fee if a client wants to get quotes from them. We’re also adding some great features that allow members to contribute to our blog and demonstrate expertise in their field which will award them points and help them win more jobs.”

Small business owners interested in finding and comparing local web designers, graphic designers and online marketing professionals can visit www.designquotes.com.au. Service providers interested in joining the marketplace to get more work can visit www.designquotes.com.au/sign-up

About DesignQuotes

DesignQuotes is a services marketplace that helps small businesses compare quotes local web designers, graphic designers and online marketing professionals (www.designquotes.com.au).

DesignQuotes provides service providers with a simple way of promoting themselves online without expensive marketing costs.
Quotes
"Initial contact was through a blog post I wrote ranking the top 10 Australian business directories. The start-up liked what we were doing with content marketing and eventually saw a synergy between our quote comparison platform and their business directory. Eventually they made an offer to buy the company to acquire the software and my experience as an online marketer." Daniel Duckworth
"The stars just kind of aligned because I met two mentors who saw the potential of DesignQuotes and made it their mission to help me raise investment capital." Daniel Duckworth
"We’ve designed a kind of hybrid monetisation model. Members can pay a monthly fee to be part of the marketplace or use a free account and pay a one off fee if a client wants to get quotes from them. We’re also adding some great features that allow members to contribute to our blog and demonstrate expertise in their field which will award them points and help them win more jobs." Daniel Duckworth
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About DesignQuotes

DesignQuotes is a services marketplace that helps small businesses compare quotes from local web designers, graphic designers and online marketing professionals (www.designquotes.com.au).


DesignQuotes provides creative service providers with a simple way of promoting themselves online without expensive marketing costs.