Post on 05-Dec-2014
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Copyright © Mivesta 2011
The Social Network Prob/ortunity
• Social networks: share info, status & play games
• Mostly text, not real time action.
• Talk about doing stuff, rather than doing it together.
How can we connect people to do stuff together, like in real life?
Cook-along with Mivesta….
1. Social collaboration portal
2. Real time, interactive video streams
3. Multiple users- video, text, audio chats
4. Cook-along with chefs or friends
5. Experiential, real, social events demo
Enchant our community members with creating, sharing, & learning…
• Sticky addressable market • 81% of US adults enjoy
cooking @ home. • 15% of US adults watch
cooking TV “very often.” • Tech: tablets, mobile,
broadband, & video
Market for Cooking, Connected
Online “Foodies”
Service Users
FoodBuzz 14.0 M users
FoodNetwork 7.8 M users
Allrecipes.com 7.3 M users
Food.com 4.8 M users
Epicurious 1.1 M apps 1.5 M users
Big Oven 2.0 M apps
.5 M users
Sources: Quantcast 2010; CNN-app downloads & Harris Poll
How can we connect people to create, share & learn?
Copyright © Mivesta 2011
Competition Cook-Off
Food Network AllRecipes & FoodBuzz SocialEyes Ustream &
YouTube Mivesta→
Written recipes and photos
User video library
Educational Chef or Pro videos
Social sharing or commentary
Live video streaming events TV shows
Interactive Video streams
Copyright © Mivesta 2011
Team Mivesta: Creative & Smart
Richard Velasquez
Andrea Fuentes Roberto Andrade & Greg Bachrach
Amanda Sanchez Amy Jhie Zhao
Visionary CEO Make it Happen CoFounder
Weapons Grade Developers
Art Director System Analyst/Intern
UF Senior - Advertising
Business Generalist
Synthovation Tech Partners
Online, offline, & mobile media
Development & testing
Sales experience
Cook, artist, educator, MBA
IT Infrastructure 7+ years experience
5 years experience
Prior Start up experience
17 + 22 yrs exp
Copyright © Mivesta 2011
Early Launch: Enchant & Engage
• Supportive community beta: invited foodies & bloggers
• Sponsors - select SoFla restaurants & chefs
• Local events & PR - Taste of Brickell
• Word of Mouth - cook-alongs
• Niche Ads- FoodBuzz, InfluAds
• Social media & SEO
Mivesta will constantly code & release per user loves/hates.
Copyright © Mivesta 2011
Phases of Development
1. Bootstrap building phase – Scalable MVP web app – User Beta launch 5/3
2. iPad App - launch 8/1
3. New features – ongoing – Continuous process – User driven
4. Scale up for growth 2012
5. Non-profit education arm
Idea or Suggestion
Develop
Code
Test
Data
Assess
Agile, user-centered process
Copyright © Mivesta 2011
Monetized Business Model
• Free, ad-supported from day 1 – Stage 1: AdSense & sponsored events – Stage 2: Targeted, interactive ads – Stage 3: Event-linked deals & major sponsors
• VestaChefs - rating/mentor system; % of ads
• Focus: make users happy through sharing creative, active, real-life connections
Projected break even run rate within 12 months
Copyright © Mivesta 2011
Investment Opportunities/Plans
Pre- Launch Founder Capital (excluding sweat equity)
$80K -Start up cost -Building MVP
Stage 1 Launch
Friends & Family (through 5/11)
$20K+ -Launch cost -Hosting & new features
Stage 2 Rollout
Angel Round $300K
(soft) -iPad app build -1 FTE developer -IT infrastructure -Interactive ad -Hit breakeven -Minimal founder $
Copyright © Mivesta 2011
Questions & Answers