Venture lab slides

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Venture lab slides

  1. 1. iFacturas invoicing app mortjac Morten Jacobsen CEO, No Excuse Accounting AS Microsoft Global Showcase Partner for WP7 onsdag 27. oktober 2010
  2. 2. Problem description • Angeles’ situation • marketing consultant • Independent Contractor • Lives in Spanish medium large town (Alicante) • Doesn’t have time to one day of paperwork each week, and doesn’t like to pay others for the work either. • To many tasks: late invoicing and payment • Lack of economic control onsdag 27. oktober 2010
  3. 3. iFacturas invoicing app • Invoice at the point of service and immediately when the job is done • iPhone, iPod Touch and Windows Phone 7 • One tenth of time & costs • Get addresses with GPS • Document with camera • Send invoice as email or send it from our print-center onsdag 27. oktober 2010
  4. 4. Competitors • Send Regning • Sage Contaplus • FreshBooks • iFacturas - the only app conceived entirely for Contractors and the smartphone onsdag 27. oktober 2010
  5. 5. Team • 2 from Norway and 3 from Spain • Broad competencies: auditor, graphic designer, programmer, database programmer and marketer • I have represented EU in the OMG General Ledger standadrization which was approved in Tokyo in year 2000 with the vote from International Accounting Standard Committee. • «Economica - accounting for the rest of us» got 16 thousand users in 3 years in the nineties Morten Jacobsen CEO Hans Kolstad CFO Toni Climent Development Antonio Revaliente Marketing Bego Fontanet Design onsdag 27. oktober 2010
  6. 6. Potential users • Our clients: professional smartphone users world wide • Phase 1, Spain:ATA deal + MS alliance: 500K • Phase 2, Rest of Spain and Norway: 3M • Phase 3,America: Spanish and English speaking worlds 60M onsdag 27. oktober 2010
  7. 7. Business Model • Free download and use. Pay for value-transaction: Invoice • Freemium: Email: €1 / Print&post: €4 • Premium - subscribtion for people who wants predictability • Estimated income User/month Spain: €14, Norway €30 • High margin • Break even with approximately 1000 users in Q1 2011 • 2015: 90 thousand users (5.5 times Economica in the nineties) and €6M profit onsdag 27. oktober 2010
  8. 8. State • Signed deal with ATA, the Spanish association for Independent Contractors • Distribution with Microsoft and Movistar to ATAs 500 thousand members • Microsoft Global Showcase Member • Launching with Microsoft worldwide • Featured in the Spanish newspapers onsdag 27. oktober 2010
  9. 9. onsdag 27. oktober 2010
  10. 10. Call to action • Funded by founders • Seeking seed capital up to €1.5M for: • Marketing • Global English version • iPad platform • Venture Capital will be needed to extend to the rest of the Hispanic world and to US onsdag 27. oktober 2010
  11. 11. Join us to stop contractors losing time and money! Homepage: iFacturas.blogspot.com mortjac @ gmail, twitter, web, facebook and Skype onsdag 27. oktober 2010

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