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Bzzt Stockholm

Small, electric taxi pods – for super cheap, emission-free journeys in town.


We are happy to announce that our campaign has reached it's target... But don't hesitate to register your interest anyway!

You can register here --> http://bit.ly/BZZTWaitingList

If any of the original investors should drop off, their shares will be offered on a first come/first served basis.

OBS! All investors will be contacted on Monday 29th of May with payment instructions!

Investor proposal

We want the people who like and travel with Bzzt Stockholm to be able to join in and own us, too.  And all types of investor can take part. Big and small. Young and old. Women and men. Our goal is a magnificent mixture.
 
Take the opportunity and get in at the start!

Product

The problem this product solves

Demand for transport in town is getting bigger and bigger. Despite this, there are only two main alternatives when you want to travel somewhere. Public transport, which is cheap but can’t take you the whole way from A to B. And taxis, which take you from A to B but are expensive.

How the product solves it

At a price that’s comparable to public transport, we can take you from A to B – as fast as a taxi! Without giving off any exhaust gases! Thanks to the fact that we have so many pods (and a smart system that makes sure they are in the right place), you are never more than a couple of minutes from the nearest pod. And as it’s so cheap to travel with us, the decision to order a pod is no big deal.
 
Bzzt makes it possible for everyone to travel by taxi!

Product features

You book us with an app. The map shows where the pods are and when we can get to you. During the journey, the app works as a taximeter. Payment is made automatically.
 
Our price model is incredibly simple. It costs 3 öre (0.03 SEK) per meter. We have no time-based tariffs or minimum fare.
 
We are the only taxi company in Sweden that is allowed to use the “Good Environmental Choice” label of the Swedish Society for Nature Conservation (Naturskyddsföreningens Bra Miljöval). The pods run entirely on electricity and don’t emit a single gram of carbon dioxide.

Product use cases

Instead of taking an ordinary taxi!
(Because it’s cheaper. And better for the environment.)
 
Instead of taking public transport!
(Because it goes faster. And costs about the same.)
 
Instead of cycling or walking! 
(Because it goes faster. And you avoid the rain.)
 
Instead of nothing! 
(Yes, it also happens that people in fact decide not to make certain trips. Because they feel too complicated or too expensive. We make sure that these trips actually happen!

Team

Tryggve Erlandsson. avatar
Tryggve Erlandsson. Chairman of the Board, Bzzt AB.
Founder and managing director of Scandi Gruppen, Europe’s leading exporter of restored/recycled office equipment. Also part-owner and board member of Erlandssons Bygg, Sweden’s biggest privately owned construction company.
Alok Alström. avatar
Alok Alström. Board Member, Bzzt AB.
Uber’s Swedish managing director until October 2016. And before that business development director for Bisnode. When he isn’t helping Bzzt he runs Adclouds – a completely new service for producing and optimising digital advertising.
Sven Wolf. avatar
Sven Wolf. Managing Director.
Founded Bzzt with Örjan Jansson and Per Nyrenius. Has earlier worked as Product Development Director for ITV World in Sydney – and run his own development company in the field of digital TV, with the BBC as biggest customer. Since 2004 Sven has been engaged with emission-free transport and renewable ... See more
Founded Bzzt with Örjan Jansson and Per Nyrenius. Has earlier worked as Product Development Director for ITV World in Sydney – and run his own development company in the field of digital TV, with the BBC as biggest customer. Since 2004 Sven has been engaged with emission-free transport and renewable energy – in Sweden and at EU-level. Partly as a consultant and partly through starting and running the stakeholder organisation Hydrogen Sweden (Vätgas Sverige) for six years. See less
Per Nyrenius. avatar
Per Nyrenius. Marketing Director.
Has more than 15 years experience of marketing management, and a long record of accomplishments. Per has been marketing director for Västtrafik (Sweden's second largest public transport company) and international brand manager for Craft Sportswear. He has also worked as communication strategist and account director at large ad agencies, with ... See more
Has more than 15 years experience of marketing management, and a long record of accomplishments. Per has been marketing director for Västtrafik (Sweden's second largest public transport company) and international brand manager for Craft Sportswear. He has also worked as communication strategist and account director at large ad agencies, with clients in many different industries – from automotive and energy to insurance and sportswear. See less
Örjan Jansson. avatar
Örjan Jansson. Product Director.
Civil engineer who in the last ten years has worked as product director and business developer for several cleantech startups. For example; myFC, Ecofiltration, Powerfy, and Solkompaniet. Örjan has also worked with hardware at Ericsson, and for nine years as an IT project manager for many of the major telecom ... See more
Civil engineer who in the last ten years has worked as product director and business developer for several cleantech startups. For example; myFC, Ecofiltration, Powerfy, and Solkompaniet. Örjan has also worked with hardware at Ericsson, and for nine years as an IT project manager for many of the major telecom companies, as a Capgemini consultant. See less
Anders Hegerfors. avatar
Anders Hegerfors. Creative Director.
One of the world’s best copywriters. Comes most recently from Forsman & Bodenfors, where he in a little over 10 years made internationally recognized campaigns for companies such as IKEA, Kalles Kaviar, Tele2 and Västtrafik. Anders has won all advertising awards worth naming. For example; One Show, Epica, D&AD, Cannes ... See more
One of the world’s best copywriters. Comes most recently from Forsman & Bodenfors, where he in a little over 10 years made internationally recognized campaigns for companies such as IKEA, Kalles Kaviar, Tele2 and Västtrafik. Anders has won all advertising awards worth naming. For example; One Show, Epica, D&AD, Cannes Lions and the Golden Egg (Guldägget). See less
Ola Lundin. avatar
Ola Lundin. Design Manager.
Award-winning art director and designer with a long experience from lots of different ad agencies - and sectors. Previous clients include, for example, Volvia Försäkring (Volvo car insurance), Fender, Fisherman’s Friend, Västtrafik, Abba, Findus, Pågens, Brämhults and Bris.
Philip Prophet. avatar
Philip Prophet. Software Wizard.
Half-English, brilliant software developer/system architect. Worked previously for Berge Consulting. Philip is a visionary in the technical area and the brain behind Bzzt’s technical platform. He also has a background as a translator. (As if his software skills weren't enough.)
Johan Wingård. avatar
Johan Wingård. User Interface Manager.
One of Sweden’s foremost UX-designers. When Johan isn’t working with Bzzt, he’s at Forsman & Bodenfors, where he has worked with most of that agency’s big clients. Most recently with creating Sunfleet’s user interface and Dolce & Gabbana's global website. Johan has also been a teacher in interaction design at ... See more
One of Sweden’s foremost UX-designers. When Johan isn’t working with Bzzt, he’s at Forsman & Bodenfors, where he has worked with most of that agency’s big clients. Most recently with creating Sunfleet’s user interface and Dolce & Gabbana's global website. Johan has also been a teacher in interaction design at Chalmers University of Technology, in Gothenburg. See less
Mats Lundgren. avatar
Mats Lundgren. Finance Manager (tillträder i juli 2017).
Confident and analytical, with long international experience in financial analysis and reporting, controlling and accounting. Mats has worked for big, global companies like Maersk, Volvo Car Corporation, GAC and Royal Caribbean Cruises in Miami, Florida.
Mirelle Englund. avatar
Mirelle Englund. Head of Operations, Bzzt Stockholm.
Has a background as a store manager and sales coach in the retailing industry. Most recently she comes from the role of sales director for Sector Alarm. Mirelle is responsible for drivers and pods and runs the daily operations in Stockholm.
Mikael Erlandsson. avatar
Mikael Erlandsson. Business Developer, Bzzt Stockholm.
Entrepreneur who has invested in, and worked with, many start-ups. Mikael is responsible for developing Bzzt’s business in Stockholm, through, among other things, finding new ways to involve the city’s business sector in the operations.

Market

Target Market

We aim at everyone who lives or moves in the city centre. During 2016 about 350 million shorter journeys (than 5 kilometres) were made in Stockholm.
 
If only a thousandth of these journeys were made with us instead, that would be 350 000 trips a year. And revenue of about 22 million SEK. (And we haven’t counted advertising and courier revenue.)
 
With a market share of one per cent, we get to over 220 million SEK.
 
Dizzying figures! But in fact totally realistic.

Competitive landscape

We have more competitors than most. And that’s quite simply because our service has advantages that attract many different customer groups.
 
We’re going to take customers from public transport, because we’re more convenient. From traditional taxis and Uber, because we’re cheaper. And we’re going to attract pedestrians and cyclists because we are faster.
 
Just now a lot of new transport services are appearing, as well. Competitors, definitely. But also a sign that new thinking is really needed in this sector. We have an eagle eye on this development ­– and all the competence that’s needed to lead it, as well!

Unique differentiator from competitors

There is no other transport service that’s fast, cheap and environmental-friendly. Not one!
 
We’re going to make the air cleaner and life simpler for Stockholmers. But we want to do it in a fair way. That’s why we employ drivers from all parts of the community.  That’s why we sign collective agreements and pay them well. And that’s why we decided to share this company with you (and all the others who like us and travel with us).
 
Being fair doesn’t just feel good. We also believe that it’s going to be an important competitive advantage in the future. 

Company revenue streams

Journeys. And ads. And a courier service.  
Our unbeatable price creates demand, builds volume and gives us the possibility to grow. But the taxi service must never provide more than a little surplus (if we earn too much money there, it’s time to lower the price). Instead we’re going to exploit our massive presence in town by selling ads (a totally unique service, starting Q3 2017) and goods transport (a similarly unique service, starting Q3 2018).
 
In other words: the taxi service gives us a basic income. But it’s also the precondition for being able to sell other surrounding services.

Product/service distribution

We are just a push of a button away – regardless of where you are (the Bzzt app of course works both on iPhones and Android devices). And because we are so extremely visible in town, people will constantly be reminded of the possibility of ordering a pod.
 
Yes, and then there’s the possibility of just jumping into a pod, too – and paying by card. It’s nothing we promote (because we want people to use the app). But we do it to avoid saying no to tourists and others who aren’t so used to how it works.

Execution

Previous milestones/traction

Summer 2015.
First concept test in Gothenburg.

April-October 2016.
Test of business model, pricing, pod management system and customer app. 3000 paid journeys were made.

October 2016.
Test with Uber. They calculated that it would have taken 100 pods to meet the demand – in Gothenburg.

January 2017.
An Associated Press report about us was shown all over the world.

February–April 2017.
The Bzzt Stockholm limited company (AB) was created. Further development of system and customer app. Drivers employed. Offices/garage prepared. Further adjustments of pods

May 2017.
Launch of Bzzt Stockholm! With a new app, 18 pods, and 60 drivers.

Next key objectives

Q2 2017.
Scaling up to 50 pods. Preparation of hardware and establishment of the sales organisation for the launch of the advertising offer.

Q3–Q4 2017.
Scaling up to 75 pods. And the sales start for the advertising offer (it’s going to be fantastic!).

Q1–Q2 2018.
100 pods (at least). Expansion of the area we drive in. Fine-tuning of our brilliant courier service. And continued development of the system ((AI and booking possibilities on other platforms).

Q3–Q4 2018.
200 pods. Launch and scaling up the courier service.

Previous Financing

To Bzzt AB, during start-up and research.
 Start capital from the founders: 200 000 SEK.
Swedish Society for Nature Conservation: 50 000 SEK.
Västra Götalandsregionen (Region Västra Götaland): 50 000 SEK.
Almi company loan: 200 000 SEK.
Ekobanken company loan: 600 000 SEK.
 
To Bzzt AB, during the development phase.
 Capital from Modelio Equity: 3 000 000 SEK.

Partnerships

Swedish Society for Nature Conservation (Naturskyddsföreningen.)
Ali (State-owned financing and advice company.)
Clean Motion (Manufactures the base for our vehicles.)
Artex (Adapts the vehicles for transportation of passengers.)
GodEl (Our providers of green electricity.)
Atacac (Designs our clothes).
Jansson & Norin (Our lawyers).
KPMG (Our accountants).
People Partner (Helps us with recruitment).
Aino (Our front-end developers).

Use of funds

We are going to use this money to grow in Stockholm. The more who want to join in and own us, the faster we can grow. The goal is to have a huge number of pods out on the streets of Stockholm when we launch our advertising offer in autumn.
 
Further development of the system and pods won’t be paid for by Bzzt Stockholm. The parent/development company Bzzt AB will pay for all that sort of thing.
 
Percentage distribution
70% to scaling up Bzzt Stockholm.
30% to the start-up, marketing and sales of the advertising offer.

Industry Certifications/Awards

Swedish Society for Nature Conservation (Naturskyddsföreningen).
Collective agreement with the Swedish Transport Workers Union
(Svenska Transportarbetareförbundet).

Return on Investment

We expect the company’s worth to grow at the rate the volumes grow. And then take a real leap when the whole of the business idea is realised (that is, at the start of advertising sales). Getting in now could be smart, in other words. But more chances will come up: our plan is to share around half of the company.
 
If you are in, then of course you’re going to get a share of the successes. If there’s a profit, then there are dividends! And you can of course sell your shares in the future, too (if you want).

Risk Analysis

Competition.
Our service can be copied, of course. But that’s not easy. Because of our awesome team, and because we have got so far in the development of the behind-the-scenes system and the management of the vehicles and driver support.
 
Legal:
Our pods are classed as EU mopeds and are not covered by taxi legislation. But, we can’t be sure that it’s going to be like that forever. However, if the law should be changed, we'll quite simply get taximeters and taxi licenses for the drivers.