GIMME

Expression of Interest

Locally owned, ethically driven.

Delivering the stuff you love.

Closes: 10d, 6h, 55m and 13s
  • Type: Retail and Wholesale

GIMME is a locally owned and operated multi-sector on-demand delivery platform in New Zealand, delivering D2C in just 30 minutes.

GIMME

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    What is GIMME?

    GIMME is a locally owned and operated multi-sector  on-demand delivery platform in New Zealand. The company delivers a wide array of products direct to consumers (D2C), targeting an average delivery time of just 30 minutes. In addition to food, GIMME delivers groceries, gifts and even alcohol via its mobile app and website. 

    Founded in 2017 and  operating as Give Me Bread in Christchurch, the company has recently undergone a full rebranding and completely rebuilt its technology platform to give itself the strongest competitive advantage, and best position itself to scale rapidly. GIMME is now expanding into new territories in New Zealand and is on track to expand coverage nationwide before the end of 2021

    Unlike its overseas-based competition, GIMME places an emphasis on supporting local businesses. The company charges lower commissions than its competitors, while also passing on 100% of the delivery fees to its fleet of drivers. As a New Zealand company, the business pays tax locally, supports local foodbank charities through donations and even helps to donate and distribute surplus food from restaurants.

    Investment Highlights

    1. Rapid growth to date

      GIMME has over 15,000 app downloads and processes over 1,500 orders a month. The company is on track to turnover $1 million in 2020/21. Since rebranding, GIMME has seen consistent week on week user growth.

    2. Substantial addressable market

      The NZ takeaway food market is worth $11.5 billion a year, with 1.2 million Kiwis regularly ordering takeaway food. In addition, annual liquor retail sales total $5.8 billion from retail liquor sales, with 84% of that for consumption at home.

    3. Industry & social tailwinds

      Uber Eats brought the international concept of on-demand delivery to New Zealand but Kiwis have shown a clear preference for NZ-owned companies supporting local businesses. Even Prime Minister Jacinda Ardern spoke against the use of Uber Eats.

    4. National and international expansion plans

      Having only operated in Christchurch to date, GIMME has commenced its rapid expansion across New Zealand.  Launching in Dunedin in January 2021, Wellington in March 2021 and the remaining NZ territory by November 2021with intentions to scale into the Australian market soon after consolidating its home territory of New Zealand.

    5. World class technology

      GIMME has invested heavily in a complete technology overhaul providing the company with a world-class proprietary technology platform. Features of the platform include the ‘smart’ features users expect from major international players such as Uber Eats, such as real-time GPS order tracking. GIMME owns all IP and rights to the technology.

    6. Clear strategic opportunity

      GIMME is the only NZ platform that delivers alcohol and other products in addition to takeaway food. This follows similar on-demand delivery success stories in overseas markets, such as Menulog in Australia, which was acquired by Just Eat in May 2015 and Jimmy Brings, which was acquired by Woolworths in December 2017.

    The Opportunity

    The New Zealand delivery market remains dramatically underserved, for customers, businesses and delivery drivers alike. The industry is primed for a disruptor to bring it up to the standard of major overseas markets, and GIMME, taking advantage of international precedents, is ready to do just that.

    Customers

    Customers in New Zealand are disadvantaged in several ways. Choice is limited, given there are no platforms offering the delivery of other products as well as food. In food, the higher commission fees charged to partner restaurants also translate to higher prices for customers. 

    Kiwi consumers are very conscious of supporting local home grown alternatives to multi-national companies. A prime example of this is TradeMe versus Ebay.  Ebay enjoys a dominant monopoly globally but has almost no presence in NZ where everything is traded on NZ-owned platform, TradeMe. NZ on-demand delivery customers are currently unable to support local businesses, with profit margins heavily weighed upon by commissions and profits realised offshore.

    Businesses

    Restaurants are unable to use services such as Uber Eats without significant fee structures, resulting in either charging higher prices or even slimmer margins than normal. Without other options in the market, restaurants are forced to use just a few main players or risk losing valuable business.

    Delivery drivers, while integral to the process, are often left with unreasonably low wages after delivery platforms take a cut. This forces them to work longer hours, for low wages.  This results in poor customer service, drivers taking to social media to voice their opposition and even occasional strikes or refusal to work. GIMME commits to not take commission from its delivery fees, passing this on in full to its fleet of drivers through direct payments and incentive schemes. 

    Ethics

    There is a rapidly growing interest within consumers in supporting companies that demonstrate a strong sense of ethics. This may be through being eco-friendly, supporting disadvantaged communities or being socially responsible with the use of individuals’ data and information. GIMME actively supports small businesses, local community charities and demonstrates a strong sense of ethics in its business operations. GIMME has partnered with a NZ foodbank charity that helps distribute food and supplies to families that need help.

    The Solution

    GIMME has invested heavily in addressing these exact shortcomings of the current delivery market. As a New Zealand owned and operated company, GIMME intends to disrupt the market and provide better outcomes for everyone. . 

    GIMME intends to focus on the exact issues its stakeholders are finding with other players in the market. It is the only delivery platform to offer alcohol in addition to food and other groceries, an approach well validated by international precedent. The company will charge businesses less and will pay drivers more, to ensure that the ecosystem required to operate the business remains satisfied, while still maximising earnings.

    The Market

    The New Zealand delivery market remains underserved and in need of a standout solution. The takeaway food market is worth $11.5 billion, while liquor sales top $5.8 billion annually. Notably, 84% of alcohol purchases are for home consumption, highlighting the importance of a fast delivery service.

    Within this market the main international player is Uber Eats. Despite the strength of the overall business, Uber Eats has been met with resistance in the New Zealand market, owing to support for local businesses. Uber Eats is neither a local business nor fits within the campaign to #golocal, given that it takes a high commission from restaurants and pays delivery drivers a low wage. Even Prime Minister Jacinda Ardern and the Restaurant Association NZ have been outspoken against the corporation.

    The local New Zealand player is Delivereasy, however the company is limited by less sophisticated technology and a growing reputation for poor customer service.  It also does not provide the multi sector (Food, Alcohol, Gifts, Groceries, Medications) that GIMME provides. 

    Why Equity Crowdfunding?

    GIMME has decided to raise capital through equity crowdfunding in order to give back to its early-adopters and give them the chance to own a part of the business. This includes not only the customers, but the delivery drivers and the small business owners that the company supports.

    Equity crowdfunding, as a disruptive force in finance, also aligns well with the mission of the company. GIMME intends to disrupt the fast delivery market in New Zealand for the better, providing fairer outcomes for all stakeholders.

    The company will use the capital to aggressively grow, targeting rapid expansion across New Zealand, before potentially bridging into Australia. 

    New Zealand Financial Markets Conduct Regulations - Warning Statement About Equity Crowdfunding

    Equity crowdfunding is risky. Issuers using Equitise’s facility include new or rapidly growing ventures. Investment in these types of businesses is very speculative and carries high risks.

    You may lose your entire investment, and must be in a position to bear this risk without undue hardship.

    New Zealand law normally requires people who offer financial products to give information to investors before they invest. This requires those offering financial products to have disclosed information that is important for investors to make an informed decision.

    The usual rules do not apply to offers by issuers using Equitise’s facility. As a result, you may not be given all the information usually required. You will also have fewer other legal protections for this investment.

    Ask questions, read all information given carefully, and seek independent financial advice before committing yourself.