Three businesswomen, who also happened to be mothers, trying to run their corporate lives and oversee their households, faced the constant challenge of finding something fun and healthy to do with their kids in 2017.
They were often searching on Google for new and exciting things to do with their children, but found there was no single point of reference for them when looking to plan after-school or weekend activities.
“We realised, surely there has to be a way to consolidate all that information to make our lives – the parents’ lives – easier,” Simona Agolini, chief executive of Qidz, says. “That is really how Qidz was born.”
Ms Agnolini, an oil and gas industry veteran, along with former media executive Ines Mena and Claudia Ribas, who worked in consumer goods, decided they should launch their own platform. An easy app would solve the problem they had faced as parents in the UAE – providing relevant, up-to-date and real-time information on activities for children.
The idea of Qidz was conceived in January 2017 but before its formal launch took place in November of that year, two more founding members – Nourhan Hassan, who has a digital marketing background, and Therese Hundt, who worked in branding and marketing – also joined the start-up.
The app has since evolved from being an aggregator of information in 2017 to a full-service platform, with enhanced functionalities including the ability to buy tickets for events online.
Public engagement in the last three years has been exponential, Ms Agolini says.
“On an annual basis, we are reaching more than 300,000 families now. From a base of basically nothing to grow to this level is amazing,” she says. “We have seen really significant month-on-month growth recently as well, with people sharing the app and we are getting a lot of ‘word-of-mouth’ recommendations.”
The venture was bootstrapped with a kitty of $150,000 from the founders, who initially managed the workload between themselves while juggling their corporate jobs and overseeing domestic chores. Today, thousands of vendors list their businesses on the platform. Through the app, parents can book extra football classes for their children at the AS Roma Academy and the AC Milan Soccer School, or they can choose to send kids to Abu Dhabi Equestrian Club to learn showjumping.
The variety of activities is endless, ranging from theme parks and museums to golf clubs, malls, restaurants, talent development centres, indoor and outdoor sports facilities, dance and music classes.
The platform, which is free to use for families, relies on a mix of ads and commissions to generate revenue. The business model is working well, Ms Agolini says. The number of vendors who want to become a part of the platform is on the rise as engagement levels continue to spike, she adds.
“We chose to focus on sponsorship and advertising, where different partners are interested in reaching our [Qidz’s] specific target audience. And the other is the commission-based model on the number of tickets sold.”
The split between the two revenue streams depends on a variety of factors including the time of year. Advertising revenues decline in the summer when many families leave for holidays, but those who remain tend to spend more on entertainment, which boosts commission income, she explains.
“It’s counter-cyclical, it varies a lot,” she says, adding that the venture is currently reinvesting a lot of its revenue back into the business as it pushes for growth.
The firm, in the last quarter of 2019, raised $1 million (Dh3.67) in seed funding. Several regional and international institutional investors including the Oman Technology Fund, 500 Startups, Vision Ventures, Seedstars, Mindshift Capital and Delta Partners Ventures took part in the funding round. It was also supported by the OQAL Angel Investor Network in Saudi Arabia, UAE Business Angels and Misk Innovation.
The aim now is to further enhance Qidz’s product offering, grow its team and expand its footprint into other Gulf markets.
“Since we received our funding we have launched in Saudi Arabia and we have launched in Bahrain and we have launch a new product line Qidz at Home [arts & crafts and games kids can do at home during coronavirus restrictions],” Ms Agolini says.
“We are moving rapidly but obviously further expansion is on the cards. [The] UAE is our strongest market, purely because we have been operating here for three years, but the market that has a huge potential is, of course, Saudi Arabia.”
The company launched operations in Saudi Arabia in January. Although it is facing coronavirus-related challenges in the country, which in parts is now under 24-hour curfew, Qidz has seen good engagement.
“Partners are trying to contact [us], which is great. We are seeing a good initial pick-up. In all fairness, our focus is really on managing and conquering the Saudi [market right now],” she says, adding that its Bahrain operation, launched in December, has also had a good response.
The firm does not have any immediate plans to raise further funding and its future plans will depend on how the business develops in light of the ongoing coronavirus pandemic that has severely dented economies and brought social life to a grinding halt in many parts of the world. However, in future it may consider the option of bringing a strategic investor onboard.
“The likely scenario is a strategic investor, in light of some of the current developments happening in the market,” Ms Agolini says. “The logic here would be to take … [onboard] someone who operates in similar segment or has a similar target audience”.
Q&A with Simona Agolini, chief executive of the Qidz
What already successful start-up do you wish you had started?
I wish I had started Airbnb. I had the idea 15 years ago – it was not exactly as Airbnb is today but I had discussed with a friend to launch a house-sharing concept within a close circle of friends. The idea in my mind at the time was to expand it to friends of friends. I did not have the money or the time to launch it or even really develop the concept, but I really wish I had!
What have you learnt in the process of launching your start-up?
Where to start! The first thing I have learnt is that having an idea is not enough – you need to execute it well, too. Your venture needs to be solving a real problem. Choosing the right partners is also very important – they are with you to celebrate success, to motivate you when it is difficult and to help balance you out. What I have learnt is that things always work out differently than you originally thought. Each day is completely different – and you are constantly learning
What would you differently if you have to do it all over again?
I would have launched my own business earlier. I would have taken the step away from the corporate world and jumped into entrepreneurship earlier. I certainly would have been less perfectionist and focussed more on finding 80:20 solutions to keep the ball rolling.
What’s your next big dream to make happen?
To be honest, I really want to do something in the corporate sustainability space and give back to society. I have not yet identified what it is but I am passionate about helping to empower women and protect children. The day I can do that on a sustainable basis will be a very happy day for me.
What would be the next big milestone for Qidz?
Qidz is now live in three top markets in the region – the UAE, Saudi Arabia and Bahrain and the next big milestone will be expanding it to other regional markets. Among the milestones we have already achieved is the launch of Qidz at Home to help parents deal with this very challenging period, where they have to manage their children and work from home.
Qidz was developed to solve a genuine problem that parents were facing – and to help make parents' lives easier by inspiring and providing them with relevant information that is up-to-date and real-time. Given the current circumstances, that need to support parents has never been greater and that is why we launched Qidz at Home. It helps parents find hundreds of ideas on how to entertain their kids while they are at home.
We are passionate about supporting and empowering women to be able to combine the requirements of childcare with a professional career, therefore, we offer flexible working options to them.
