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Team BigData (64 interviews, 132 survey responses) formerly known as Team Privacy
| Date post: | 05-Jul-2015 |
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Education |
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Team BigData(64 interviews, 132 survey responses)
formerly known as Team Privacy
Key Innovation
• BigData
– Analytics through restricted access
interfaces
– Example: Mine Google’s corpus
– Example: Mine any web database
– Example: Mine never-before-seen
hard drives
Team Privacy BigData
BI: $10b
IB: $16b
IC: ?
LBS Privacy Big Data
$1m
• PI: Nan Zhang– Assistant Professor of Computer Science, George
Washington University (GWU)
– Research areas: Databases, Information Privacy
• EL: Sundaresan Rajasekaran– Graduate Student of Computer Science, GWU
• Mentor: Jim Chung– Director, Office of Entrepreneurship, GWU
– Director, VentureAccelerator, UMD
– Investor (Angel, VC, Private Equity, M&A)
Team BigData
Privacy-
concerned
consumers
who use LBS
Creating
awareness
Own website
educationalIncreased
privacy
Technology
Privacy
advocacy
groups
Developing
costs
Marketing
costs
App revenue (direct or shared)
LBS App
Providers
Bundling with
LBS apps
trust
Building trust
Business Canvas (v1)
• Interviews with consumers– Mixed Responses
• How about LBS providers?– “ No Way ! ”
– Want users to share, not hide
• Pivot point: privacy advocacy groups– Consumers not ready
– Requires legislations
What We Did for LBS Privacy
Privacy-
concerned
customers
who use LBS
Creating
awareness
Own website
educationalIncreased
privacy
Technology
Privacy
advocacy
groups
Developing
costs
Marketing
costs
App revenue (direct or shared)
LBS App
Providers
Bundling with
LBS apps
trust
Building trust
Subscription
What We Found
Companies
uneasy about
employees’
online
activities
Consumers Don’t
Care About
Location Privacy
Websites File Systems Databases Web Dataset
Restart
0845644, 0915834
61/445,272 (web data)
61/423,939 (local storage)
Auditing/Forensi
c Accounting
Firms/Orgs
Subscription/Service/Training Fee
Customer
Acquisition Remove
Integration Cost
High Touch
Customer
Service
TechnologyDirect Sales
System
Development
Cost
Improve
Scalability
Customer
Acquisition Cost
System
Development
Current
Business Canvas v2 (After Restart)
Real-Time
Analytics
Accounting
Firms
Customer
Service
Cost
Interaction
Flexibility
• Interviews with forensics
accountants
– Deloitte, KPMG, Stanford,
AARM
– Hands-on experience,
understood pain points
• Unfortunately…
– “Quick & dirty” analytics ≠
admissible evidence
What We Did for Forensics Accounting
• They pointed us to:
– Intelligence Community (IC)
– Hedge fund managers (HF)
• Aha moment
– Repeatedly hearing IC&HF
• Why?
– willing to take risk
– make decision quickly
– high stakes.
BUT
Auditing/Forensi
c Accounting
Firms/Orgs
Subscription/Service/Training Fee
Customer
Acquisition Remove
Integration Cost
High Touch
Customer
Service
TechnologyDirect Sales
System
Development
Cost
Improve
Scalability
Customer
Acquisition Cost
System
Development
Current
What We Found
Real-Time
Analytics
Accounting
Firms
Customer
Service
Cost
Interaction
Flexibility
Subscription/Service/Training Fee
Intelligence
Community
Customer
AcquisitionExploring non-
importable data
sources
High Touch
Customer
Service
TechnologyDirect Sales
System
Development
Cost
Hedge Fund
Managers
Customer
Acquisition Cost
Backend
Development Current
Business Canvas v3
Instant
Analytics
Training
Cost
Licensing to
Service
Companies
Generic
Training for
PartnersFrontend
Customization
No “Paper
Trail”
Frontend
Visualization
Providers
Proprietary
Data Providers
Service-
Oriented
Companies
Hospitals
Government
Agencies
Ad Agencies
• Intelligence Community– Gov Agencies, In-Q-Tel, TRS, SAIC, 42six
• Hedge Fund Manager– Citigroup, VentureCount, ManagementCV,
Leverpoint, hedge fund manager, etc
Earlyvangelists
Overwhelmingly
positive responses
Need instant answer
• Speed
• Scalability
We learned:
• Customer relationship
• Distribution channel
• Purchase decision workflow
• Partnership
• Competitive intelligence: Fortune 500 companies
• Investment Bankers, Traders
• Real-time monitoring, litigation avoidance
• Advertising Agencies
Mainstream Customers
Need
• Data mining
capability
Non-Customers
• Government regulators SEC, FTC
• Medical Data Analysts
• Inertia
• Not invented here
• Precise results only
Purchase Decision for IC, HF, IB & BI
Analyst/
Manager/
Partner
Corporate IT
Department /
CIO office
HF
IC
BI/IB
Service
company
for IC
• Service companies for IC– Verified mutual interest (e.g., 42six)
– Reason 1: Enter intelligence market
– Reason 2: Bridge specific demand & generic product
• Front-end processing providers– Verified mutual interest (e.g., SAIC)
– Reason 1: Our key strength is on backend
– Reason 2: Backend is generic
– Reason 3: Front-end customer-specific
• Proprietary data providers– e.g., LexisNexis, Thomson Reuters, etc.
• Platforms– e.g., Bloomberg terminal, Factset
Key Partners
Our Generic Backend Platform for Instant Data Analytics
Intelligence
CommunityHedge
Fund
Business
Intelligence
Service
Companies
Front-end
module
Front-end
module
Front-end
module
Our Offering
Total Market Size
• Global financial data market: $16 billion /
year [Inside Market Data]– Bloomberg: revenue $6.9 billion / year
– Thomson Reuters: revenue $14 billion total /
year, about $6 billion / year for financial data
– Smaller players for the other 1/3 market
– e.g., FactSet $641 million / year
• Global analytics / BI software market: $10
billion / year [Gartner]– SAS: $1.4 billion / year
• Intelligence Community– SAIC: $10 billion / year, TIBCO: ~$700
million/year
– Palantir: $100 million / year, but doubling every
year
BI: $10b
IB: $16b
IC: ?
Hedge Funds Target Market
• Bloomberg Terminal– $18,000 / year / terminal
• FactSet– $50,000 / subscription, + $6,000
additional user
• Palantir– $225,000 initial cost + $45,000/year for
support and maintenance
• Target Market at the beginning:– $100,000 / system * 12,000 hedge
funds = $1.2 billion
Total: $26b
Served: $16b
Target: $1.2b
Subscription/Service/Training Fee
Intelligence
Community
Customer
AcquisitionExploring non-
importable data
sources
High Touch
Customer
Service
TechnologyDirect Sales
System
Development
Cost
Hedge Fund
Managers
Customer
Acquisition Cost
Backend
Development Current
Business Canvas Now
Instant
Analytics
Training
Cost
Licensing to
Service
Companies
Generic
Training for
PartnersFrontend
Customization
No “Paper
Trail”
Frontend
Visualization
Providers
Proprietary
Data Providers
Service-
Oriented
Companies
• Value propositions … and even
customers … come from outside the
building– Not brainstorming sessions inside the office
• Viable Business?– Yes
– But it takes time to develop
• Next Steps– Recruit a CEO
– Continued customer development (Interviews
already scheduled / planned)
– Finish the MVP
– Apply for SBIR
– Seek additional sources of funding
Learning
Demo
Privacy-
concerned
customers
who use LBS
Creating
awareness
Own website
educationalIncreased
privacy
Technology
Privacy
advocacy
groups
Developing
costs
Marketing
costs
App revenue (direct or shared)
LBS App
Providers
Bundling with
LBS apps
trust
Building trust
Business Canvas (v1)
Privacy-
concerned
customers
who use LBS
Creating
awareness
Own website
educationalIncreased
privacy
Technology
Privacy
advocacy
groups
Developing
costs
Marketing
costs
App revenue (direct or shared)
LBS App
Providers
Bundling with
LBS apps
trust
Building trust
Subscription
What We Found
Companies
uneasy about
employees’
online
activities
Consumers Don’t
Care About
Location Privacy
Auditing/Forensi
c Accounting
Firms/Orgs
Subscription/Service/Training Fee
Customer
Acquisition Remove
Integration Cost
High Touch
Customer
Service
TechnologyDirect Sales
System
Development
Cost
Improve
Scalability
Customer
Acquisition Cost
System
Development
Current
Business Canvas v2 (After Restart)
Real-Time
Analytics
Accounting
Firms
Customer
Service
Cost
Interaction
Flexibility
Subscription/Service/Training Fee
Intelligence
Community
Customer
AcquisitionExploring non-
importable data
sources
High Touch
Customer
Service
TechnologyDirect Sales
System
Development
Cost
Hedge Fund
Managers
Customer
Acquisition Cost
Backend
Development Current
Business Canvas v3
Instant
Analytics
Training
Cost
Licensing to
Service
Companies
Generic
Training for
PartnersFrontend
Customization
No “Paper
Trail”
Frontend
Visualization
Providers
Proprietary
Data Providers
Service-
Oriented
Companies
Hospitals
Government
Agencies
Ad Agencies
Subscription/Service/Training Fee
Intelligence
Community
Customer
AcquisitionExploring non-
importable data
sources
High Touch
Customer
Service
TechnologyDirect Sales
System
Development
Cost
Hedge Fund
Managers
Customer
Acquisition Cost
Backend
Development Current
Business Canvas Now
Instant
Analytics
Training
Cost
Licensing to
Service
Companies
Generic
Training for
PartnersFrontend
Customization
No “Paper
Trail”
Frontend
Visualization
Providers
Proprietary
Data Providers
Service-
Oriented
Companies
