business

Quadruple Bottom Line

Quadruple Bottom Line

In my previous blog, I talked about PeN being a GoodBusiness and an Impact Investment, in terms of which category of company we belong.
Apart from the positive social and environmental impact we bring, we are unique in a way that we can be considered as one of the few companies that can generate a Quadruple Bottom Line. This means that our bottom line or profit or impact can be measured in 4 different distinct ways, let me enumerate them here:
1. Measurable social impact
2. Excellent future financial returns
3. Quantifiable environmental sustainability impact
4. Recognisable contribution to parent/portfolio companies

Measurable Social Impact

I outline this on my previous blog essentially:
– Making communication and information available even to those who are not connected to the internet:  Communication and Information powers progress both as an individual and as a society in general.
– Leveraging your social currency: We put a real-world money value to your social currency and actually award that to you in something you can use to shop.
– Enabling the micro-sharing economy: This allows you, as a social media user, to benefit from the gains of companies who are out to make profit out of your usage. Also, you can share just about anything in PeN, including your internet connectivity.
– Personal and real emergencies: We assist you during your times of need, without any cost to you. We are always there.
– Health and safety: We notify you when you are going to an area where there are disease outbreaks. We also help out identify sources and movement of this outbreaks.

Excellent Future Financial Returns

As a company, we still need to ensure that we make profit. We do this in various ways, from 1) advertising like Facebook and Google to 2)In-app purchases, when you buy anything in PeN inside the app 3)mCommerce, although we provide online stores for free, we charge a very small amount for successful transactions 4)Peer to Peer transactions, soon you will be able to transact with another PeN user. You will be able to send them gifts or surprises, or exchanging just about anything with monetary value.  We will only charge a very small amount for qualified transactions. We are in the volumes business, so very small profits in a lot of transactions can still lead to a big profit at the end of the day.

Quantifiable Environment Sustainability Impact

In summer of 2017, we launched PeN’s tree planting initiative where we plant 1 tree for every 10 users. So far, we have planted around 25,000 trees and growing. We aim to be able to plant around 100 million trees by 2021 in various countries. This is achievable with your help by using PeN and spreading the word, making the PeN Pal community larger each day. Our tree planting initiative started in the Philippines in coordination with the Department of Environment and Natural Resources, and we aim to expand the project in various countries in the next 3 years.

Recognisable Contribution to Parent/Portfolio Companies

PeN in its nature, is a social network where users interact with each other.  Although it combines the power of messaging, voice, social, health, safety, commerce and micro-sharing in a single application that works even when there is no internet connection.
Since we are on-boarding the new wave of users, this will benefit portfolio companies immediately where they can ride the wave go our growth. Additionally, we provide various APIs so other companies can connect to our community, much like the way Facebook connects others to their network.  With PeN, connecting users even when there is no internet connection is paving the way to on-board the next billion users. Couple that with micro-sharing that leverages users’ social currency and turn it into a real-world monetary value will change the face of social media as we know it today.
Being one of the few companies with a Quadruple Bottom Line, the question is what does it take for PeN to become a unicorn?
Posted by Ian Vernon in Blog, What's New?
Impact Investment or Good Business Investment

Impact Investment or Good Business Investment

As PeN continues to grow, we need further investments to ensure that we continue to provide the free services that we do today.

In the past weeks of interacting with various Venture Capitals globally, there is one thing that caught my attention. We are, for some reason, being branded as suitable for impact investments since what we do is actually providing a positive social impact. Ted Rheingold created the term GoodBusiness a new investment sector for-large-profit businesses that also provide a social or environmental benefit.

As I analyze the investment space, we do quality for both traditional venture capitals and impact investors or goodbusiness investors. Being in that rarity is never easy in terms of finding the right venture partners since our business model checks requirements of both kinds of venture capitals – and none seem to actually have taken the advantage of both worlds.
For most venture companies, it’s either they invest to create more profits, or to provide social good. There are, of course, the new breed of GoodBusiness investors that invest in for profit companies. Although, the way they value the companies lean more on the profit side.
We are uniquely positioned in a way what our business model threads the balance between pure profit and positive social impact. Although most of our PeN Pals today are located across Asia, we are solving several global problems (see below),

Communications both offline and online

Availability of information even at times without internet connectivity:

Information is what drives progress and everyone has to right to access information anytime, anywhere.

Leveraging your social currency so that you benefit directly from it:

If you are in the US or Europe, a company like Facebook makes 17USD from you, why should you not have a share of that?

Enabling the micro-sharing economy.

This starts with us by sharing to you the benefits we reap. We are also powering micro peer-to-peer sharing, where each of our PeN Pals can create and execute exchanges amongst each other from sharing or even sharing/selling/buying internet connectivity on demand.

Commerce:

For millions of small businesses, online presence is very expensive. Although they have products that are suitable to sell online and might even be unique, we are removing this barrier by proving full mobile commerce capabilities for free.

Personal emergencies:

A lot of times, we have personal emergencies. From forgetting your key somewhere, your car having a flat tire, to feeling unsafe and unsecured. In PeN we leverage on technological innovations to ensure personal emergencies are mitigated and help is always near by.

Real emergencies:

Just imagine when you experience real emergencies and you feel powerless and feel that no help is coming. In PeN, with just a simple push of a button, your friends, your family, your contacts and the public safety authorities are alerted about your condition.

Health and safety:

Outbreak of diseases might be difficult to prevent but its spread can be avoidable. In PeN, we monitor progression of diseases outbreaks by allowing users to send updates and also alerting PeN Pals when they come into areas where these outbreaks are.

Environment:

We are all aware of environmental issues and impacts. Hence, in PeN we plant a tree for every 10 new PeN Pals that start using the app. We aim to plant millions of trees globally through this initiative.

Outlining the positive impact we bring as we go through this growth journey does sound like we indeed belong to the category of GoodBusiness. Having said that, we are still a for profit business, that aims to make profits based on our innovations and services, albeit a very responsible one. And although most of our users now are in Asia, the global population can surely benefit from what we do and how we do things. Install PeN today and be part of this positive impact to the world.

 

Posted by Ian Vernon in Blog, What's New?
‘PeN’ SUPER APP HELPS EXPAND TOURISM AND BUSINESS OPPORTUNITIES WITH ITS ‘SPOT’ FEATURE!

‘PeN’ SUPER APP HELPS EXPAND TOURISM AND BUSINESS OPPORTUNITIES WITH ITS ‘SPOT’ FEATURE!

PeN mobile application highlights nearby destinations that can possibly boost more visitors anywhere!

The digital age has made the world closer. Thanks to technology, everything seems to be easier now. Global tourism can be considered to have benefited from technological advancements through the rise of social media and various tools that captures the beauty of what used to be hidden travel spots.

A total of 1.22 trillion U.S dollars were collected solely from international tourism revenue in 2016 since the beginning of the new millennium according to Statista. Tourism is such a big industry and there’s certainly more horizon to explore.

The UNWTO made a forecast that international tourist arrivals will rise to 1.81 billion in 2030. In India, 8.89 million tourists arrived last year that contributed $220 billion, 9.6 % of the country’s GDP. Clearly, tourism plays a vital role in every country in terms of economic growth; and technology, through the internet and mobile applications, boosted its worth.

By using its SPOT feature, PeN super app guides every user to let them know the closest destinations to visit. SPOT has four categories to choose from that’s why this feature is not only limited to tourism. Even business owners can benefit from PeN’s useful feature. These places are categorized into ACTIVITIES, VISIT, DINE AND SHOP

Ian Vernon, PeN’s CEO certainly thought about how the app can maximize its reach. With PeN’s SPOT feature, any establishment’s vital information within the user’s radius will be made accessible to its users. Plus, users can also check who among their friends are near to the same vicinity making it easier to invite them over the closest hangout place.

SPOT is made far less complicated for a reason. With one single click, any travel destination or business establishment can be seen instantly by PeN’s millions of users. Unlike other social platforms, PeN has a centralized community making it easier to reach out and promote any merchandise!

PeN made it easier for you to visit new places or attract new customers. PeN still has a long way to go, be with us and join us with our growth. Go check out the app and find out how it can help you find the best places near you!

 

Posted by Clarisse Javier in Blog
A BUSINESS THAT STARTED FROM A BOTTLE OF BEER –  THE CLEANIC PH, LAUNDRY X LOUNGE

A BUSINESS THAT STARTED FROM A BOTTLE OF BEER – THE CLEANIC PH, LAUNDRY X LOUNGE

We were looking for a start-up business that can inspire the younger generation and we have found one in the Philippines.

THE CLEANIC PH

LAUNDRY X LOUNGE

IT STARTED WITH A BOTTLE

The best ideas would usually come when you are relaxed. That’s exactly what happened when a group of millennials decided to kick off a business while drinking bottles of Andy Player and Smirnoff.  One of their friends lamented on how there is no self – service laundry within his area. And while he was at it, the group recognized the potential of the laundry business, most especially that self – service ones.

VIRTUAL MEETINGS 

From then on, Jamie Acac (25), Mara Medalle (26), John Malayao (26), Marlon Sotta (26) and Franz Turo (26) held virtual meetings to brainstorm ideas. You have to thank technology for that, right? It makes planning easier, most especially for this specific group where most of them have day jobs.

  • Jamie works in a government agency
  • John is a chef
  • Marlon is an engineer
  • Mara is a CPA
  • Franz is a soon-to-be lawyer

FINDING THE PERFECT LOCATION 

They started to scout commercial spaces in BGC, but most of it was already dedicated for offices. They had to consider other areas such as Espana and Taft and eventually found a place along Estrada St. in Manila. It’s very strategic as it is nearby schools such as St. Scholastica’s College, DLS-CSB, and DLSU.

CONCEPTUALIZING THE LAUNDRY

After sealing the deal, the group decided to plan the design and concept of the laundry. They wanted it to be a place where their customers can ‘standby’ or relax comfortably while doing their laundry. Since they are nearby schools, they have already anticipated that most of their customers would be cleaning up their soiled clothes while preparing for their school exams! They also accept corporate clients like salons and hotels.

WHERE DID YOU GET THE NAME? 

The original name that the group wanted was Sip n Spin. But upon registering, they found out that it was already taken. One of the partners suggested THE CLEANIC, Landry x Lounge (which I have to say, sounded even better!).

SOFT OPENING 

THE CLEANIC, Landry x Lounge had their soft opening last August 19 and without much of a surprise, they already have returning customers. Thanks to their creative promos and amazing facilities, it’s hard not to fall in love with this laundry x lounge.  And yes, they have snacks too just in case you want to munch on something.

WORK AND BUSINESS 

While it is hard to manage work and business, the owners feel a sense of accomplishment each day. Millenials are tagged as lazy folks but having your own business can prove otherwise. Hard work is really the secret. As they say, if you have the resources to put up a business, go for it!

INVESTMENT 

These young entrepreneurs invested around PHP 1.6Million for the business. They really wanted their shop to stand out, thus making the look different from the rest.

CHALLENGES 

While they encounter challenges along the way, they decided to just take it as key lessons and move forward!

SUPPORT SYSTEM 

Their parents are very supportive and in fact, some of them even lent money to kick off the business. Well, with careful planning and a feasibility study, any parent with resources would gladly help their kids.

It’s really amazing how technology and bright young minds join together to come up with a profitable business. PeN hopes that this will flourish and that these young ones will be an inspiration to the others.
Download the PeN here for iPhone users and here for Android user
Posted by Berniz Isla in Blog