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buySAFE, Inc.

Jeff Grass, CEO


5350 Shawnee Rd. Suite 302
Alexandria, VA 22312
Phone: 703-354-6701 x102 Fax: 703-997-0883
Email: jeff@buysafe.com Web Address: www.buysafe.com

Business Description: The problem buySAFE solves is simple and straight


Management: forward - most online shoppers perceive a great deal of risk when buying online,
Jeff Grass - CEO especially from a merchant they know little about. Shoppers react to perceived
Steve Woda - SVP Strategic Grwoth risk in one of two ways, they avoid the transaction altogether, or they discount the
Jim Mercier – VP-Legal & Claims price they would otherwise be willing to pay. This is results in fewer sales and
Hans Dreyer – VP-Operations lower profits for online merchants, especially those that lack a national brand that
gives every shopper a feeling of complete trust and security.
Frank Ganis – VP-Marketing
Corinne Tosaki – S. Director – Tech buySAFE prequalifies sellers and gives them a clear signal of trust and credibility
and then fully guarantees their transactions with a surety bond - the broadest form
.
of online purchase protection available. Very simply, buySAFE provides shoppers
Industry: online transaction trust & the two things they care about most - 1) that the merchant is trustworthy,
guarantee services professional and will deliver as promised and 2) that if for any reason they don't,
the buyer is fully protected by a trusted third party. For sellers, buySAFE provides
Number of Employees: 15 an 'unfair' competitive advantage by enabling quality sellers to make their buyers
feel safer, resulting in increased sales and profitability.
Bank: Bank of America Company Background: buySAFE enjoys a strategic partnership with the
financial services giant - The Hartford Financial Services Group and a large
Auditor: TBD insurance & surety brokerage firm - Thomas Rutherfoord, Inc. buySAFE initially
launched in the eBay marketplace and is now expanding quickly into eCommerce
Law Firm: Cooley Godward more broadly via a number of very significant distribution partnerships.
Management:
Amount of Financing Sought: $5-10 Jeff Grass – CEO – Founder, PayMyBills.com,McKinsey& Co., Travelers Group
million Surety Underwriter, Wharton MBA
Steve Woda – Founder/SVP-Strategic Growth – NY Regional Manager – St.
Current Investors:($3 million) Paul, VP - Assurance Capital, Wharton MBA
The Hartford Financial Services Jim Mercier – VP-Legal – General Counsel, Hartford Bond, surety claims expert
Group; Thomas Rutherfoord, Inc.; Products/Services: buySAFE provides a strong signal of crediblility and a
Various Angel investors comprehensive third party guarantee in eCommerce transactions. This gives
buyers complete peace of mind, driving increased sales and profitability for online
Use of Funds: Build team, implement merchants and the marketplaces they participate in. buySAFE is uniquely
newly signed distribution deals, M&A positioned as the world’s first and only online commerce bonding service –
utilizing its deep expertise in surety bonding to provide this truly unique solution.
Technologies/Special Know-how: buySAFE’s core process is patent-pending. buySAFE has built a unique real-time risk
management capability to enable it to successfully guarantee millions of dollars of eCommerce transactions between thousands of
sellers and buyers. buySAFE is a licensed insurance agent in all 50 states and has built a competence in highly efficient and
effective underwriting and problem resolution capabilities
Market: buySAFE targets small and medium-sized (SMBs) eCommerce retailers in online marketplaces such as eBay, AOL, etc.
that lack a national brand that can enable their shoppers to feel completely safe and secure. On ebay, buySAFE’s target market is
the 180,000 PowerSellers who sell $1000+ per month. Beyond eBay, buySAFE’s target market is the 200,000+ U.S. based small
business eCommerce retailers. buySAFE’s currently addressable market is $1.5B and growing at 30-50% annually. buySAFE’s
service is completely free for buyers. Sellers pay 1% of the final transaction price for both the buySAFE credibility signal and for
bonding their transaction with a guarantee from a trusted financial institution.
Distribution Channels: buySAFE intends to primarily leverage its current and future distribution partners for distributing its
product in a cost-effective manner. buySAFE now has in place major distribution partnerships with major eCommerce
marketplaces, large seller solutions providers and major eCommerce payment and storefront providers.
Competition: No direct competitors exist as there are major culture, skill-set, regulatory, IP and distribution barriers. Numerous
indirect competitors exist that can seen in two groups – 1) partial risk elimination solutions (e.g. feedback, merchant ratings, buyer
protection plans, credit card charge-back protections, etc.) and 2) complete risk elimination solutions (e.g. online escrows). Note,
partial risk solutions do not yet solve the problem and online escrows are a failed model due to seller working capital constraints
and high costs.
Financial Projections (Unaudited): (dollars in thousands)
FY2004 FY2005 FY2006 FY2007 FY2008
Revenue: <20 1,500 12,700 38,000 72,000
EBIT: (3,000) (3,900) 780 11,400 28,000