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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?

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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

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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

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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.

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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

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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

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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 $

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Questions & Answers