Condotto | ECXTech
Uberizing Online Shopping
Small OPO
Reno, NV
Technology
Accepting International Investment
Now Accepting Bitcoin
You can now commit investments up to the maximum amount through Bitcoin.
The Sharing Economy Is The Future
The sharing economy is rapidly becoming prevalent and popular in today’s society. This ecosystem makes the American dream of owning and operating your own business and working for oneself, easily accessible to the masses. The sharing economy is becoming more and more commonplace in our lives, most notably: Uber (Ridesharing), Airbnb (Property Rental), and Twitch (Live Video Streaming) to name a few.
The Sharing Economy is truly in its infancy in the United States and has seen rapid growth in other countries around to world for many years with an expected value of $335 billion by 2025.
We Are Primed For The Sharing Economy To Hit E-Commerce
The sharing economy has established players and products in many different industries, ranging from transportation, property rentals, video content, food delivery, and more. Interestingly enough, there isn’t a major established player when it comes to e-commerce and the sharing economy. While some e-commerce platforms such as Shopify and Etsy have trace elements of these sharing philosophies, they’ve barely scratched the surface of the full potential of what e-commerce can become.
Development Stage
Condotto is in the initial stages of development. The product is currently pre-prototype in the early wireframe phases. The team is using its previous expertise in cross-platform development, inventory systems, and payment processing to create their initial prototype. This prototype will help to convey the intent of the end-product to the team and demonstrate a streamlined user experience, while creating a foundation for its core infrastructure. With the funds raised, we will scale up our development team to build the platform’s native applications, integration with payment gateways, and the heart of Condotto, its patent-pending shared inventory system
Meet Condotto
Condotto, simply put, is “Uberizing Online Shopping.” It is the next evolutionary step in the world's e-commerce ecosystem. No different than UBER’s ride-sharing concept, Condotto looks to leverage the sharing economy to redefine how people buy and sell online. Condotto enables inventory owners and sellers to work together to introduce a new competitive and streamlined consumer experience. Condotto is a revolutionary software platform, that allows anyone to sell more product, faster to a wider audience than ever before. Using its patent-pending shared inventory technology, Condotto lowers the barriers of entry for anyone to create their own e-commerce business, thus creating a new sharing economy model for both inventory owners and sellers. This powerful system exposes any markets’ inventory to the public for sale, in potentially thousands of commissioned seller’s online stores, all over the world. In turn, increasing the audience exposure and likelihood in which something is sold, all while limiting arbitrarily marked up prices for consumers.
Do you have something to sell?
Step 1. Cataloging items: The owner of any item will fill out a form on the Condotto marketplace. Using various information, such as images, descriptions, prices, commissions percentages, etc. about their item. Once cataloged, this item will then be added to the shared inventory system(SIS).
Step 2. Shared listings: Next, Condotto’s unique platform allows any item in the shared inventory system, to be listed for sale by an infinite number of Condotto storefronts in tandem. The platform then alerts the owner that their item has been accepted for listing by other commissioned sellers’ stores.
Step 3. Transaction and Fulfilment: When the item is sold through a storefront, Condotto’s payment system automatically distributes the funds to all parties. All stores that list these items will have their quantity decremented simultaneously in real-time. The item is then fulfilled by the inventory owner or fulfilment partner.
Advantages over market competitors for inventory owners:
“Free” Global Sales Force
Faster Sale Of Products
Wider Market Reach
Increased Audience Exposure
Ownership Of Sales Data
In-Depth Sale Analytics Tools
Reduction Of Variable Advertisement Costs
The biggest difference between other platforms and Condotto is the sharing economy culture. What this means is that any item listed on the platform can be sold by any storefront for a commission. Since commissions are set by these inventory owners, other commissioned sellers are incentivized to list and market these items in their own virtual stores. Those commission prices are easily absorbed by the inventory owner as a small percentage of their margin. Condotto focuses on making sure that inventory owners always own their customer data, unlike other e-commerce platforms. In typical e-commerce ecosystems, items sold contain markups in an effort to create margins for the merchants. On Condotto, the price is fixed by the owner and the merchant can’t change the price, unless they own the item being sold.
Are you looking to start your own business?
Step 1. Open a Virtual Storefront: Anyone can create their own e-commerce business by opening their own free virtual store and become a commissioned seller. To start, sellers will use Condotto’s storefront creator to build a brand around the type of items that they want to sell. They can then customize relevant information about their brand for their audience to see, such as logos, descriptions, social networks, videos, etc. Coupled with a Condotto merchant account, each individual store creates the added benefit of earning passive income seamlessly.
Step 2. Search the Shared Inventory System: Next, sellers can browse potentially millions of publicly listed items in Condotto’s shared inventory system. Sellers can select items to add to their storefront as it relates to their brand. Selecting higher commissioned items will yield greater returns for the storefront owner.
Step 3. Audience Reach: Store owners can use Condotto’s social media integrations to leverage any existing social media followings (ie Twitter, Facebook, Instagram, Twitch, etc.). Their storefront link exposes items listed to their social following, therefore reaching a larger audience for the inventory owner and greatly increasing the likelihood of a sale for the item listed.
Step 4. Transaction: When the item is sold by a commissioned seller, Condotto’s payment system automatically distributes funds to all parties. All stores that list these item quantities will be decremented simultaneously in real-time. One of the benefits of being a commissioned seller is that they will never need to store, manage, or fulfill the items sold. Distribution is the responsibility of the inventory owner.
Advantages over market competitors for commissioned sellers:
Start A Business Without Owning Any Inventory
Monetizing On Existing Social Audiences
Earn Passive Income
No Inventory Management Or Fulfillment Required
Low Risk, Virtually No Starting Capital Needed
No Experience Required
Condotto’s sharing economy also serves as a replacement for large distribution channels such as Amazon to move product. By leveraging anyone's time and social audience as an asset, these individuals can sell any product for a commission on behalf of the owner of the item. Inherently, Condotto storefront owners become “salespeople” for all inventory owners on the platform. The beauty of Condotto’s patent-pending system is when items are listed by an owner, they can also be added to as many commissioned storefronts as they like. With this new salesforce, inventory owners increase exposure of the item listed for sale, to reach a larger audience.
Are you looking for something to buy?
Step 1. Search: Users can search for the items that they wish to buy, with the added benefit of tangible goods, virtual inventory, and services, all in one place.
Step 2. Buy Item: The buyer then simply purchases the items and are shipped to them from the inventory owners or fulfillment partner.
Advantages over market competitors for consumers:
- A broader range of inventory items not typically found under one roof.
Prices aren’t inflated because sellers are incentivized by commissions and can’t mark prices up.
Consumers can more easily “vote with their dollar” by buying items from the desired inventory owners and commissioned sellers, they wish to support.
Condotto’s AI system prompts the user with relevant storefronts that contain the items that they desire.
Information is based on the buyer's habits such as purchase history, and more, help locate the items that are more relevant to them.
Condotto is redefining what “one-stop shopping” is.
Consider how you select products on Amazon. Do you typically select products “Sold by Amazon” over other no-name businesses on Amazon? When PEW research conducted a study on levels of importance for online shoppers, they found that 86% of consumers consider the right priced item to be important. While 84% consider buying from sellers they are familiar with to be just as important.
Buyers inherently want to support any number of their favorite brand influencers. Very similar to how Twitch streamers build their own communities. When a buyer is looking for an item, they will search for items they need and Condotto returns storefront listings with the items most relevant to them. With the added benefit of AI-driven output, listing certain storefronts over others. This data is based on the user's habits and followings, which helps the balance of equal opportunity between stores.
Condotto Has Huge Growth Potential
Retail e-commerce sales reached $2.3 trillion in 2017 and is projected to reach $4.8 trillion by 2021. Addressing the rapid growth over the past few years in e-commerce and the sharing economy is imperative. The world is ready for a solution that goes far beyond e-commerce as it stands today, consumer demand is pushing toward a sharing economy of the future. Condotto is that solution.
The Offering
Investment
$4/share of Class B Common Stock│When you invest you are betting the company’s future equity value will exceed $11M.
Maximum 267,500 shares of Class B Non-Voting Common Stock ($1,070,000)
Minimum 2,500 shares of Class B Non-Voting Common Stock ($10,000)
Offering Summary
Maximum 267,500 shares* of Class B Common Stock ($1,070,000)
*Maximum subject to adjustment for bonus shares. See 10% Bonus below
Minimum 2,500 shares of Class B Common Stock ($10,000)
| Company | Ecxtech, Inc. |
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| Corporate Address | 80 W. 1st St. Suite A, Reno, NV, 89501 |
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| Description of Business | Blockchain-based e-commerce platform |
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| Type of Security Offered | Class B Common Stock (the "Shares", or the "Securities") |
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| Purchase Price of Security Offered | $4.00 |
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| Minimum Investment Amount (per investor) | $248.00 |
Repurchase Right. The Company may, at any time after the closing of this Offering, and in connection with a bona fide institutional financing, repurchase the Securities sold in this Offering from the investors, by delivering written notice of such repurchase along with payment for the Securities. The payment for the Securities shall be based on the valuation of the Company in such institutional financing. Upon delivery of such notice and payment, the Securities shall automatically be deemed repurchased and cancelled.
The 10% Bonus for StartEngine Shareholders
Ecxtech, Inc. will offer 10% additional bonus shares for all investments that are committed by StartEngine Crowdfunding Inc. shareholders (with ≥ $1,000 invested in the StartEngine Reg A+ campaign) within 24 hours of this offering going live.
StartEngine shareholders who have invested $1,000+ in the StartEngine Reg A+ campaign will receive a 10% bonus on this offering within a 24-hour window of their campaign launch date. This means you will receive a bonus for any shares you purchase. For example, if you buy 100 shares of Class B Common Stock at $4 / share, you will receive 10 Class B Common Stock bonus shares, meaning you'll own 110 shares for $400. Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share.
This 10% Bonus is only valid for one year from the time StartEngine Crowdfunding Inc. investors receive their countersigned StartEngine Crowdfunding Inc. subscription agreement.
Irregular Use of Proceeds
The Company might incur Irregular Use of Proceeds that may include but are not limited to the following over $10,000: Vendor payments and salary made to one's self, a friend or relative; Any expense labeled "Administration Expenses" that is not strictly for administrative purposes; Any expense labeled "Travel and Entertainment"; Any expense that is for the purposes of inter-company debt or back payments.
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Risks
A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.
Updates
Condotto is being featured on Betalist!
7 days agoWe are excited to announce that Condotto is being featured on Betalist! Check out how our company is changing the landscape for buyers and sellers online by using the power of the sharing economy. Please take a few moments to like our page on Betalist below.
https://betalist.com/startups/condotto
Thank you!
-The ECXTech Team
Updates To Our Campaign
22 days agoThe team at ECXTECH would like to thank our investors for their ongoing support and are pleased to announce that we have elected to extend our offering. Rest assured that the application of our technology maintains the same focus as it once did, now with a more digestible approach crafted for a wider audience. We felt this was a great opportunity to build a more refined pitch around our platform and explain the true power of the ecosystem. We encourage our followers to review the updates to our offering page.
Thank you for your ongoing support,
Ryan, Brian, and the entire ECXTech team
Notice of Material Change in Offering
22 days ago[The following is an automated notice from the StartEngine team].
Hello! Recently, a change was made to the Condotto | ECXTech offering. Here's an excerpt describing the specifics of the change:
ECXTECH has extended the end date of their offering and made updates to their campaign page.
When live offerings undergo changes like these on StartEngine, the SEC requires that certain investments be reconfirmed. If your investment requires reconfirmation, you will be contacted by StartEngine via email with further instructions.
Notice of Funds Disbursement
about 2 months ago[The following is an automated notice from the StartEngine team].
Hello!
As you might know, Condotto | ECXTech has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in Condotto | ECXTech be on the lookout for an email that describes more about the disbursement process.
This campaign will continue to accept investments until its indicated closing date.
Thanks for funding the future.
-StartEngine
Condotto Investor FAQs
2 months agoWhat is Condotto? Is it anything like Amazon, Shopify, Alibaba, Etsy, etc.?
Yes, we expect Condotto to be an e-commerce platform like these well-known options, but Condotto does what multiple competitors do on a single platform. Condotto also addresses numerous shortcomings in their respective e-commerce ecosystems.
I use Amazon, Shopify, Alibaba, Etsy, etc. to buy products and I typically don’t have any significant problems/issues. What problems/issues does Condotto solve?
E-Commerce platforms look to make sure that consumers have a great experience. Most of these consumers don’t care what goes on behind the scenes and Condotto plans to address these problems. Condotto plans to offer the added advantage of buying and selling anything -- goods, services, and digital inventory.
E-Commerce platforms are typically be categorized in two ways, large distribution (e.g., Amazon) and dropshipping solutions (e.g., Doba).
What exactly is dropshipping?
Dropshipping is a retail-fulfillment method where a store doesn't keep the products it sells in stock. Instead, when a store sells a product, it purchases the item from a third party and has it shipped directly to the customer. As a result, the merchant never sees or handles the product.
What are some problems/issues with large distribution platforms?
Some problems with today’s large distribution platforms (Amazon, Shopify, etc.) for merchants:
- Merchants may not always own their customer sales data -- When merchants do not have access to customer data from the distributor this is a detriment to growing and improving one's business.
- Solution: With Condotto, merchants are expected to own their data.
- Distributor bullying tactics -- Merchants who become reliant on large distribution platform sales can be bullied into selling their product cheaper or risk jeopardizing that relationship with any said distribution partner.
Solution: Having access to Condotto’s global sales force, since any merchant on Condotto can choose to sell the item for you. We expect that this will nearly eliminate the need for a single large distribution entity and also helps to mitigate the risks, instead of having just one large platform in control.
- The distributor ultimately controls the merchant's bottom line which can devalue the merchant's product perception.
Solution: With Condotto, we expect when Inventory suppliers dictate the price and the item listing, they keep the bottom line from being hijacked and undercut by a merchant. Only owners of the inventory can alter this.
At the end of the day, large distribution platforms are great for consumers by making merchants sacrifice their profit margins and control, to maintain their extensive consumer audience.
What are some problems/issues with dropshipping platforms? And how does Condotto help?
Some problems and solutions with today’s dropshipping platforms (Oberlo, Doba, etc.) for merchants and consumers:
Problem: We believe consumers pay elevated prices. In order for merchants to be able to make any profit at all they must mark up the item they are trying to dropship. This forces consumers to pay more for the same item that could be offered directly from the dropshipper.
Solution: Condotto plans to use a new approach to dropshipping where markups are no longer necessary since the same item is being sold from the dropshipper and the merchant. The dropshipper is just paying a marginal percentage in commission to the merchant for selling the item, this also maintains the same price for the consumer.
Problem: We believe merchants “compete with the hand that feeds them.” Since merchants are selling the same inventory dropshippers can sell themselves, they might never have a better or equivalent price. Hence the need for markups in typical e-commerce ecosystems.
Solution: With Condotto, we plan to let merchants sell on behalf of the dropshipper, meaning that pricing is the same between both because dropped items prices cannot be altered by those who did not list the inventory item originally.
Generally, we believe merchants have a lot of competition for the same product. Since other dropshipping platforms pick their inventory partners and determine what can and can’t be dropshipped, they may limit the variability of everyone’s stores creating stiffer stale competition.
Condotto looks to decentralize the world's inventory using its patent-pending global inventory system. This allows anybody to add almost any imaginable inventory item to the global inventory system and then can be bought or sold by anyone.
We also believe merchants sometimes have to go through lengthy vetting processes. Some dropshippers require merchants selling their inventory to go through a lengthy vetting process that can make it hard to build their business.
With Condotto’s planned dropshipping solution, there is always public inventory to sell since not all dropshippers create exclusive rules for their partnerships with specific merchants.
What excites you most about bringing Condotto to the market?
Self-empowerment. Condotto empowers entrepreneurship like Uber, Twitch, etc.
Makes the American dream possible. You can start a business without needing a physical inventory to sell.
Low barriers of entry. There’s no need for large amounts of seed capital.
Social media integrations. You can leverage your social connections to drive business.
What is your market penetration strategy?
We plan on soliciting brand influencers, bloggers, affiliates/partners & their respective inventory suppliers.
Cosmetics (makeup, products, etc.)
Services (massages, cleaning, etc.)
What are some example use cases for Condotto?
We expect anyone with:
Little to no starting capital: Has nothing, no experience (work from home business).
Medium starting capital: Some experience, Mom & Pop stores, Brick & Mortar, small chains.
Large starting capital: Lots of experience, Already owns a substantial amount of inventory.
For example: Let’s say, hypothetically, one of these large Brick and Mortar chains that are shutting down this year due to consumers' lack of interest in visiting retail stores to buy the things they need. This large chain could use Condotto to sell their supply right from their warehouses without retail store and dropship directly from their warehouses. Creating a new more competitive online presence.
How does Condotto generate revenue?
We plan to take a nominal fee on every transaction via our payment processor. We believe this will be the least invasive way for Condotto to generate revenue without affecting the way people do businesses.
Advertisements.
A variety of optional merchant subscription tools to help business growth.
All content within this Q&A is subject to change as the platform is currently in the development stage.
TechCrunch Disrupt San Francisco 2018 - Recap
2 months agoTechCrunch Disrupt San Francisco 2018 - Recap
Hi Everyone!
The founders of ECXTECH would like to thank all attendees, vendors, and investors who stopped by our booth to meet the team and learn more about how Condotto plans to revolutionize the e-commerce space. The team couldn’t be happier with the overwhelming success of the show, connecting with potential investors, partners, inventory suppliers, and consumers who are just as excited about Condotto's future as we are.
Stay tuned for Condotto’s new strategic partnerships and post-tradeshow Q&A.
Thank you for your ongoing support,
Ryan, Brian, and the entire ECXTech team
Official Disrupt SF 2018 Exhibitor
3 months ago
Hi Everyone!
We're delighted to announce that the executive team will be official exhibitors at Tech Crunch's Disrupt San Francisco 2018.
If you are coming as another founder, investor, or techie, come and meet us on September 5th from 9 am - 5 pm @ Startup Alley with any questions you may have or just to stop by and learn more about Condotto.
We look forward to seeing you there!
Sincerely,
Ryan, Brian, and the entire ECXTech team
You Can Now Invest Using Bitcoin
3 months agoHi Everyone!
We’re delighted to announce that as of now, anyone can invest in our company using Bitcoin as a form of payment!
However you’re able to invest, we thank you!
We’re grateful to everyone who believes in our project and has already made an investment and we appreciate your help in spreading the word.
Thanks again, Ryan, Brian and the entire ECXTech team
We've Reached Milestone #1 -- Thank You!!
3 months agoHi Everyone!
We've only just begun and we’ve reached a critical milestone: $10,000 +. That means our funding round will be successfully closed regardless of the final total shares sold. We are thrilled!!
We want to thank all our investors, friends, and associates who believe in our project and made their investment so early. Your confidence and early investment gives our public offering the momentum to seek more investors and make the most of the entire offering period.
Over the next few days and weeks we will be reaching out to larger and larger audiences to introduce them to our investment opportunity, so keep coming back to see how our campaign grows. And by all means, spread the word.
Sincerely,
Ryan, Brian and the entire ECXTech team
NEWS: E-commerce Startup Gains Immediate Investment Through StartEngine
3 months agoECXTECH aims to level the playing field through innovative online marketplace
RENO, Nev., Aug. 14, 2018 /PRNewswire/ -- A little-known startup gained immediate traction through the crowdfunding platform StartEngine when it launched its crowdfunding campaign earlier this month. ECXTECH is building a decentralized e-commerce platform and aims to bolster brick-and-mortar businesses by rethinking the online marketplace.
Its platform is called Condotto, meaning conduit, and plans to change the landscape of e-commerce by reducing barriers for both sellers and buyers by using patent-pending distributed ledger technology. Using patent-pending distributed ledger technology, the project expects to create the world's largest "global inventory management system." This system will allow the sale of goods, services and digital inventory. Any merchant or supplier with the ability to dropship will be able to use Condotto.
"Our goal is to provide a platform where sellers and buyers can connect directly through a web of socially connected, user-generated virtual storefronts, where users can list services, products or anything else they would like to sell," says Ryan Cullins, CEO of ECXTECH.
The Condotto team launched its StartEngine campaign to give access to ownership in the company to anyone interested in investing in practical blockchain technology companies ready to solve real problems. Investors can also use bitcoin to invest.
StartEngine is a crowdfunding site with a mission to "help entrepreneurs achieve their dreams by providing democratized access to capital." For details about the fundraiser and terms of investment, visit the company's campaign page at www.startengine.com/ecxtech. F
About ECXTECH
ECXTECH's mission is to open an online marketplace for both sellers and buyers using patent-pending distributed ledger technology. At ECXTECH we believe there should be an online marketplace that is truly open and fair – a platform where anyone can compete and are empowered to succeed. Our flagship product, Condotto, is that platform. Condotto expects to connect sellers with buyers directly -- without becoming the middle-man. Condotto, meaning conduit, streamlines the marketplace and is an ideal tool for small and medium-sized businesses, brand influencers, manufacturers and suppliers, i.e., everyone.
THIS PAGE MAY CONTAIN FORWARD-LOOKING STATEMENTS AND INFORMATION RELATING TO, AMONG OTHER THINGS, THE COMPANY, ITS BUSINESS PLAN AND STRATEGY, AND ITS INDUSTRY. THESE FORWARD-LOOKING STATEMENTS ARE BASED ON THE BELIEFS OF, ASSUMPTIONS MADE BY, AND INFORMATION CURRENTLY AVAILABLE TO THE COMPANY'S MANAGEMENT. WHEN USED IN THE OFFERING MATERIALS, THE WORDS "ESTIMATE," "PROJECT," "BELIEVE," "ANTICIPATE," "INTEND," "EXPECT" AND SIMILAR EXPRESSIONS ARE INTENDED TO IDENTIFY FORWARD-LOOKING STATEMENTS, WHICH CONSTITUTE FORWARD LOOKING STATEMENTS. THESE STATEMENTS REFLECT MANAGEMENT'S CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT COULD CAUSE THE COMPANY'S ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE CONTAINED IN THE FORWARD-LOOKING STATEMENTS. INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE ON THESE FORWARD-LOOKING STATEMENTS, WHICH SPEAK ONLY AS OF THE DATE ON WHICH THEY ARE MADE. THE COMPANY DOES NOT UNDERTAKE ANY OBLIGATION TO REVISE OR UPDATE THESE FORWARD-LOOKING STATEMENTS TO REFLECT EVENTS OR CIRCUMSTANCES AFTER SUCH DATE OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS.
SOURCE ECXTECH
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