Taneli Tikka posted a video of Fruugo “launch” last week in SIME (there wasn’t any product launch as such, most things mentioned where the same as we reported before the event).

The video shows Fruugo’s VP marketing Janne Waltonen giving a presentation and then answering a few interview questions.

Fruugo talk in SIME by Taneli for http://tane.li from Taneli Tikka on Vimeo.

Fruugo will be present today at digital marketing seminar DiVia in Helsinki, and might tell a bit more, although they’ll still not show their actual product.

The Finnish business newspaper Kauppalehti released an article last Friday, stating that Fruugo has “forgotten” (as commented by Fruugo) to leave their financial statement to Trade Register at the end of August as required, but has just posted them a statement of losing the company’s share capital. That doesn’t necessarily mean the company wouldn’t have cash or other liquid assets to run their operations, though, but looks like they’re most likely looking for more money. Also, the previous CEO Reijo Syrjäläinen has left and Fruugo is now run by the company’s operational director Juha Usva.

Fruugo is preparing to come out tomorrow afternoon in a keynote (titled maybe a bit exaggeratedly “Meet the most ambitious start up on the planet”) at SIME in Stockholm. Fruugo will explain where the company is coming from, what markets and product categories they will go after, and what are they’re next steps.

Prior to the keynote, Fruugo’s VP Marketing Janne Waltonen today disclosed a few things to ArcticStartup regarding Fruugo’s positioning and go to market strategy.

First of all, the company will focus on physical products in the beginning, concentrating on the favorite products of online shopping like books, records, games, clothing, electronics, etc. Fruugo is running a closed Beta at the moment with a few tens of retailers and consumers, and they are starting an invitation beta in January targeted to consumers.

The first three online shopping segments they’re targeting will be a) early adapters of social media and online shopping, b) pregnant women and mothers with babies, and c) outdoor sports enthusiasts (say diving, hunting, fishing etc.). The first is pretty self evident, the second two have been selected because of the unique characteristics in their online shopping behavior, based on extensive amount of research and focus groups. Waltonen explained pregnant women and recent mothers value, and are very active with, social relationships, product recommendations, comparisons, and have a huge need for detailed product information on the web. In the outdoor segment there are likewise very active communities formed around certain sports, with the habit of using web extensively for information and purchases.

Fruugo will start from the Finnish and Swedish markets, then expanding to key markets elsewhere in the Central and Western Europe. Waltonen commented Fruugo doesn’t t have direct competitors as such, and most of the players concerned with Fruugo entering their space could actually rather be quite interesting partners (like Kelkoo and other product comparison sites for example).

Regarding the recent rumors, Janne Waltonen set straight they’ve indeed done some adjusting on the cost structure, somewhat due to the economical environment, but much due they being done with heaviest R&D and are moving more into more operational structure now, which has eliminated a few roles. Anyway, Waltonen told Fruugo’s own workforce has been reduced less than 10%, in addition to terminating some consulting and outsourcing contracts. Some of the rumors out there are quite off the scale from their point of view (like their rumored private jet), but they haven’t wanted to spend time commenting all of that before their phase of more active PR starting from tomorrow.

Apparently Fruugo’s got something working already, as Waltonen told he’s actually already bought and received all his Christmas presents using the company’s service. We (and Santa) look forward to hearing more tomorrow.

There’s a number of gossips around the big stealth mode Finnish startup Fruugo currently. The rumor has it they are firing a lot of their employees, their product is late from launch and it hasn’t been that well received by potential customers. Fruugo commented earlier they are aiming to become the “trusted 3rd party of e-commerce”, set out to solve the problems in the internet ecommerce supply chain making online shopping safer, and “more fun”, for both consumers and etailers.

Fruugo is assumed to have tens of millions in funding, and they state having 150 employees. Taneli Tikka also addressed the rumors in his recent blog post, mentioning Fruugo may have been still hiring last month. Fruugo is burning through the cash quite fast with that amount of employees. However, even if the company would be spending around 1M 11M euros [typo corrected] per year, the assumed funding of tens of millions should be enough to carry on operations for quite some time still. If the funding is not as generous, though, Fruugo might be having tough time in the current economic situation.

Fruugo’s CEO Reijo Syrjäläinen mentioned in our interview in the summer that the service would be available in closed Beta in a few months. We should see that coming up very soon if the rumors are not true. Taneli has also heard Fruugo would be going for bigger PR at SIME Stockholm.

Building a service sized what Fruugo’s comments so far hint of, is likely to be a huge and difficult a task. Thus it may not be any surprise if the old “Pi rule” of startups might have gotten Fruugo as well (take your original plan and multiply the time-to-market by Pi, and divide the expected revenue by Pi).

Fruugo, the mysterious Finnish startup, has approached us with 5 SIME HKI tickets that will be given out to Finnish startups (1 per startup). We have written about SIME previously as well.

However, this time - there’s no big catch to these tickets. All you have to do is be a Finnish entrepreneur and explain in a few sentences in the comments why you’d deserve these tickets - you’ll have time until 6PM EET today Monday 15th September 6pm EET Friday 12th September 10 EET. We’ll draw out 5 companies with the best explanations and send your details to Fruugo (so make sure your contact details are correct in the comments).

The simple message from Fruugo is that they want to support the start-up scene in Finland by providing access to 5 start-ups to the most interesting event in Helsinki.

Good luck!

Update: Major apologies with the mix-up in dates - last deadline ever, tomorrow morning. :)

Update 2: Since we only got 4 participants, we’ll direct those contact details to Fruugo - congrats to the winners :)

Scred, a Finnish community-oriented cost balancing tool, which initially focused on balancing debts and shared expenses among a group of friends announced that they are looking into new possibilities to leverage their back-end infrastructure.

Scred has partnered with Alternative Party which will be held in Helsinki in the coming October. Scred built an inexpensive bespoke ticketing service for the party with which you can reserve, buy and print the tickets straight from the web. Tickets are also machine verifiable which is more than many other service providers offer.

Kristoffer Lawson from Scred told us that the new service is currently not available for 3rd parties, but that they they will see how the first deployment will go and add some features before deciding whether it’s the right path to take. According to Kristoffer tickets can be currently bought via PayPal and ‘couple of banking services’, but the credit card option is on its way.

The party in itself is the second largest ‘demoscene-party’ in Finland after Assembly. Alternative Party aims to mix demos, music and art. Unlike Assembly, Alternative Party’s focus is more on artistic shows and activities and there is practically no gaming.

There is starting to be a lot of activity in the e-commerce infrastructure space coming from Finland. Scred seems to be gradually heading that direction and Fruugo is looking into becoming the “trusted 3rd party of ecommerce”. Based on Fruugo’s still mysterious website we will find out what they will actually offer in more detail later in 2008 when they’re planning to launch. This is something that might also be of interest to Scred since after knowing what Fruugo is aiming for Scred can better adjust their product offering to the market.