The Bumpy Road to Zetpy's 100 Million GMV

3:46 AM Sunday, April 19, 2020 adrian oh 0 Comments

There are 3 things we track vigorously in Zetpy:

  • 1) Number of Users
  • 2) Gross Merchandize Value (GMV) 
  • 3) Number of Orders

If we are doing the right things, these 3 numbers will continue to grow.

In 8th April 2020, we hit this milestone number - 101.8 Million

So, what does it take to reach here?

It was anything but a smooth sails, allow me to share with you our bumpy ride presented at the timeline below, it started since 2017...

  • Zetpy 1.0 Soft Launch Sept 2017
    After months of work, Zetpy virgin showcase took place at Lazada Seller Conference 2017(Sunway Convention Hall)
  • Bugs galore Dec 2017
    Unable to fix bugs reported by users, dragged for weeks. Screwed up user onboarding experience - We fucked our users (even though we charge nothing for it)
  • Team Lead Resigned March 2018
    Team lead entrusted to drive this, resigned. 300+ Early users left hanging, new architecture progress stucked, time and money invested gone into the drain.
  • Rebuild Zetpy team June 2018
    Stagnanted for 3+ months. I was actively scouting for new team lead, failed, rejected by ideal candidates. Regroup internal team to start it over, from scratch.
  • Our 1st Zetpians from Indonesia Sept 2018
    Things were moving, but very very slow. Until I recruited 1st Indonesian Zetpian from Facebook. Then it kickstarted the dawn of remote working for Zetpy team. We were struggling to figure how to make remote working work productively!
  • 1st Paying Client - Fotoshangri-la Feb 2019
    We were lucky to secure some early clients, that willing to grow with us. We will never forget those supported us initially.
  • Zetpy 2.0 relaunched April 2019
    Zetpy 2.0 soft launched, into the public. Still FREE to use. Real user actively using it (and also feedback loops) on day-to-day is key to our success.
  • Fund raising started May 2019
    Started talking to the invenstors who can add values to our business. We seeked only smart money. The fund raising was harder than i imagined: Investor A, rejected, said he no longer investing in 'startup'. Investor B, rejected, said he didn't see where the competitive edge is, gave us shitty valuation. Investor C, rejected, said he didn't believe the amount we were raising would be enough to sustain us through, he estimated at least 2 Million needed.
  • Struggling June 2019
    Core engine wasn't stable, UI wasn't pleasant, Zetpy was slow-loading, Bugs after bugs, not-stable, over-complicated-architecture, inexperience with AWS ended up costing us Thousands of USD in billing (the money that we didn't budget for). Team not even confidence to market and sell this to customers.
  • The CTO Onboard July 2019
    Amran,co-founder of wahdah, also a good friend and someone i trusted. Share and believe in the vision of zetpy, joined the team. He was observing alongside while helping me out to lead, manage, solidify the tech team.
  • Stabilizing September 2019
    Improved UI, Mobile-UI Launched. Much Faster loading, New and better architecture devised. AWS re-deployed with help from AWS team too, and we were pushing Zetpy out of beta.
  • Early Funding secured November 2019
    It's much harder than i thought, conclusion? Nobody will give you money to build stuff! Most investors want to see fast growing revenues. Still, I managed to secure 2 early angel investors to fund us, the 1st 100K was delivered to me in cold-hard cash :)
  • Missed Shipping Deadline December 2019
    Woocommerce Plugin, Shopify Plugin, Xilnex (POS) Plugin, Autocount Plugin, SQL Plugin - What's targeted to be shipped in December 2019, delayed again. As multiple stuffs need to go parallel at hands, strained resources were reprioritized.
  • Covid19 Crisis March 2020
    We started to master remote working, with proper way to run meeting in place backed by system. Thus, MCO doesn't impact us much operationally, we went into WFH Mode before MCO was announced. But some retailer clients do onhold onboarding due to uncertainty. We utilize this period productively to launch new website, secure partnerships, launch online demo booking, planning and executing multiple marketing campaign. Zetpy is also certified by the Malaysia Government as one of the TSP (Tech Solution Provider) for the SME Business Digital Grant. This will be the pivotal moment that will set as the foundation for us to grow in the next 18 - 24 months months
  • 100 Million GMV April 2020
    100 Million GMV, while we don't earn directly from the GMV, it was nevertheless an important milestone for Zetpians. We celebrated for one second, and move on.

What tooks us this far? It's non-other than persistency, and the team that stick through it thick and thin as our vision for Zetpy is crystal clear.

Personally, this is something I want to do. My committment is never wavered.

But, this is not something achiaveable alone, it requires a great team to build something like Zetpy.

For this, i want to thank fellow zetpians like amran, daisy, vanness, dicky, nusendra, korbesa, mingzhen, amir, khairi, hafiz, saiful, eira for sticking through thick and thin, and also the support from pawoot, wei, ho, cedric, kai young, ck, sara, yong keat, ian, zed, feng, felix, jeff, wk, our early clients and adopters plus a number of people that contributed directly or indirectly to zetpy.

Our goal is for Zetpy to become a brand, that serve hundred of thousand of business user across South East Asia.

We are merely 1% done, and i like to copy a quote from Jeff Bezos, everyday is day 1.

The future is yet to be written, the best way to predict it, is to create it now.

The next goal is 5000 users in 18 months, and weaver Zetpy into the fabric of commerce.