Thyngs FAQs – CEO answers Seedrs | Part 1
Good morning, Neil Garner here from Thyngs.
We thought we would give you a few updates on what’s been going on and answer a few questions.
Going live with Seedrs Campaign
We’re very pleased to announce that we’ve been on Seedrs for literally less than a week and reached 120% over-funding, already!
This is an incredible achievement and we could not be more grateful to everyone who has shown their support.
I’m thrilled to confirm we are continuing the campaign with Seedrs with the aim of reaching 200% funding.
So, without further ado, let’s go into some questions…
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Q: “How does Thyngs’ technology offering compare with the competition and what makes you a better investment?”
If you look at the market we’re in, it’s all about payments and mobile payments.
Today you’ll see things like the Weatherspoon’s app or Barclay’s PingIt – various apps you can download and make payments with.
But the challenge you’ve got with apps is you’ve got to;
- Download them
- Set them up
- Register them
- Remember you’ve got them on your phone when you want to make a purchase
You’ve also got things like contactless payment terminals and point-of-sale terminals – the traditional things that we all pay with using our credit cards (and being used today with charities).
Card terminals aren’t the answer to everything
They’re an expensive piece of hardware.
Typically, they’re designed for physical debit/credit cards… which is great for people who are used to using them, but we’re all moving into the fantastic world where we’re all using our mobile phones to pay.
Mobile payments are out-doing card
What Thyngs is all about is transforming any physical item – literally all the things I’ve got here are thyngs – so anything physical can be transformed into what we call an instant point of sale just by literally tapping your phone on it.
We are different to the competition.
If I’m really honest, I think we’re a bargain. Our pre-money valuation is fairly modest. There are other businesses out there that are with much higher valuations and we believe that someone who invests in Thyngs has got a great chance to get 10x or more return because we’re fairly cheap.
Experienced and reliable
Also, to reinforce that. Before founding Thyngs, I set up a company that was building a lot of the infrastructure capability for Apple Pay. We actually listed that on the stock exchange on AIM and we got 250 million market cap.
I started with that business and thought we could be a billion-dollar company, so I’ve already created a business that could get to that price point.
If you look at what we do, I think it’s a bargain and can make a great investment for people.
Q: “How do I interact with Thyngs?”
If you look around me here, we’ve got lots of different thyngs.
Charity Donation ‘thyngs’
You’ve got some charity donation thyngs; medals, cake flags, a little badge for Movember, stickers you can put onto an existing charity tray, for example.
What are ‘thyngs’?
Basically, what a thyng is (for the charity sector in particular) is something like – an interactive sticker made by us.
All you’d need to do, as a charity, is buy them from us – have them customised so they’re the right branding and colours – and they get manufactured with a little NFC chip, QR code and a little URL link.
QR and NFC is available on all smartphones
This means that whatever technology you have on your smartphone, you can interact with thyngs super simply. So that’s charity, as an example.
‘thyngs’ for Publishing
Over here, we’ve got things that we’re working on in the publishing sector.
Thyngs in magazines, for example, we’ve got inserts that you can engage with to do a subscription.
You’ll see in this Empire magazine example – where we’re doing subscriptions – you scan that code. There’s no NFC in this because you can print these at mass volumes. Typically, we do both NFC and QR codes.
‘thyngs in Retail
In the retail side of things, we have a combination of staff lanyards like Monster Energy or Wasabi – no more physical loyalty cards that get lost in pockets and bags, customers tap the landyard once paid and that’s it. Stamp collected and the cookies remember your phone for future.
We work with table ordering, on-pack promotions and more within this sector.
NFC for all
The really exciting thing about NFC capability is that in the fullness of time when all the smart phones have actually got capability to engage with it – which will be two or three years’ time, once everybody’s got the latest Apple phones – you’ll just be able to do things like this…
Tattoos or stickers so you can actually drop the QR code technology and replace it completely with something that’s just a pure visual sticker.
Thank you for your time. I’m happy to answer any more questions.
From all of us here at Thyngs, a huge thank you to all of those investors who have already invested in Thyngs. Join the party. Come on board. We’d love to have your investment.