BIMADS is the marketplace for unsold advertising spaces of the big media and advertising channels in Spain. The startup maintains agreements with practically each and every one of the media and advertising channels at a national level. Founded in 2017 by José María Amiano, Antonio Puerta and Alberto Corcóstegui, the company is based on both online and offline advertising.Likewise, Bimads works with more than 100 premium advertising channels and sends its offers to more than 600 companies.
“It is not easy to find a name that is easy to pronounce, that sounds good and that is not registered. Finally, we used the initials of our children’s names, and we got a combination that wasn’t bad at all,” the company’s founders explained.
As for the awards that Bimads has received, they have been selected to participate in some of the acceleration initiatives that have been launched in Spain, but “we ruled it out because we thought it was not the time,” they said.
Bimads’ business model is focused on contracting all types of advertising. “It’s not right that today we hire advertising in exactly the same way our great-great-grandparents did,” said the founders.
Which is why Bimads speeds up the process so that everyone can have access to advertising media of all kinds with the guarantee of an affordable price. The company explains that “with just one click, you can be on the front page of the main national newspapers, or on the stations with the most listeners, or on your city’s buses! And all this, for really surprising prices”.
BUSINESS MODEL
Bimads provides customers with exclusive advertising spaces that they probably could not access given the price and difficulty. These are premium spaces in radio, press, TV, outdoor, online, etc., at unbeatable prices.
In this sense, one of its main values is the democratization of the advertising world, “making it accessible to everyone. With very little, we achieve a lot. Signing up is totally free, there’s no obligation and it takes 1 minute”, they said.
From the point of view of the media, they can reach a smaller customer profile which historically has always been difficult to reach. Currently, Bimads has a portfolio of more than 600 companies that receive offers from media partners. More importantly, BIMADS guarantees these media partners new business as bimads.com is not a platform open to everyone.
It is the media partners themselves who decide who can and cannot see their offers. In this way they avoid commercial overlaps and guarantee new customers for the media. Bimads acts as a media agency, taking a small commission for each sale made. More than 100 advertising media send us their unsold spaces every week! So far, they are only in Spain, however they do not rule out the expansion to Mexico and Chile, as the technology they have is easily replicable in others).
INVESTMENTS
So far Bimads has invested €100,000. “The growth so far has been financed mainly by the sales generated,” explain the founders.In this sense, the capital invested so far has been paid by the partners. With the business model already tested and consolidated, and an optimal team to meet the following challenges, they believe it is time to address a first round of serious funding in which they are in fact already immersed.
The startup’s roadmap is characterized by the objective it has set itself: to consolidate sales by doubling the previous year’s turnover in Spain and to exceed the 1,200 companies that have access to its offers. To this end, they have begun by optimizing the sales processes and investing resources in recruitment and marketing.