When was the company launched and what is your background?The company launched in 2011 and has since valued over 28m businesses; landed over 25 financial institutions as channel partners and established offices in London and Singapore. Before that, however, I was the former managing director of the Musser Group, former CEO and co-founder of Dashboard Systems (sold to CXO Systems acquired by Cisco Systems); and former CMO of US interactive. Altogether, I co-founded seven technology companies including leaders in IT services, enterprise software and mobile technology.
What is BizEquity?BizEquity is the world’s largest online provider of business valuation software for small and medium businesses. It is also the world’s first and leading online business valuation engine of its kind. Our premium service provides better value solutions for business owners and entrepreneurs to affordably estimate the essential and constantly changing value of their business, based on extensive market and industry data.
How does the company work?The company uses an impressive cloud based algorithmic engine valuation system and comparisons from over 13m other businesses it has already valued to provide reliable valuations for businesses of all sizes. Our cloud based valuation tool was conceived by a leading financial institution and improved upon by leaders in accounting, finance, venture capital, and technology arenas.
How does BizEquity actually find out how much a business is worth?BizEquity values businesses through their proprietary algorithm that takes into account 143 data measures; its curated databases made up of private company and public company comparables; and its own database of over 27m business valuations and over 200m data elements on small businesses globally. Together these three pieces create a powerful engine on the back-end for the front-end cloud based interface to leverage. The result is the largest collection of business valuation data in the market.
Has this technology given the company any advantages over competitors?BizEquity’s business valuation technology has revolutionised the entire business valuation industry and democratised this financial knowledge to the small and midsize business (SMB) marketplace. The company has the advantage over traditional business valuation methods of charging 1/25th of the cost and working in 1/25,000 of the time.
Talking about competitors, who are they and how exactly is BizEquity different?BizEquity has developed the first patented online business valuation service of its kind.
The company’s cloud based algorithmic engine valuation system has over 60 patents pending and eight patents already granted. Most of our competitors are offline business valuation services, which are on average 25 times more expensive and take a huge 25,000 times longer to conduct than online methods.
What is the company’s vision?The US based company has global expansions plans, starting with the launch of its UK business later this year, followed by roll out across Europe, Asia Pacific and North Africa. The digital nature of the service offered means that the business is readily scalable: the company has the potential to achieve global reach, a project already under way with established offices in the UK, US and Singapore.
Will there be any differences in the platform (e.g. differences between how UK and US employers use it, or specific features)?BizEquity’s belief is that business valuation is a global opportunity and right for small businesses and the financial services firms that service them. So in each market BizEquity goes into, it will leverage local private company data and other important macro and micro economic data. Additionally, language and cultural customisations are required for each company it rolls out. Related Article: How to value a business By Shané Schutte
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