Emerce eDay 2008 Itai Kohavi WEbook

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Emerce eDay 2008 Itai Kohavi WEbook

  1. 1. WEbook.com: & Book Publishing Itai Kohavi / Sep. 18, 2008 June 4, 2009 Confidential
  2. 2. Itai Kohavi - Founder & CEO <ul><ul><li>Two previous Exits as CEO: </li></ul></ul><ul><ul><ul><li>Comfy Interactive - IPO </li></ul></ul></ul><ul><ul><ul><ul><li>Profitability, sales in 14 countries, customers and partners- Toys ‘R’ Us, Best Buy, MGM, Sesame Street, Tomy, Canon, JVC </li></ul></ul></ul></ul><ul><ul><ul><li>Neat Group – Was sold to Cendant/Orbitz </li></ul></ul></ul><ul><ul><ul><ul><li>Financed by United Airlines, major customers- Continental, Marriott, Avis, Orbitz, website with $50M annual transactions. </li></ul></ul></ul></ul><ul><ul><li>Author of 2 novels & a children’s book </li></ul></ul>June 4, 2009 Confidential
  3. 3. Nabil’s Secret <ul><li>1.5 years ago I finished writing a novel </li></ul><ul><li>And gave it to a few friends for feedback… </li></ul>June 4, 2009 Confidential
  4. 4. Feedback <ul><li>Why didn’t you give me this feedback earlier? </li></ul><ul><li>Because you let us read it only now! </li></ul><ul><li>Ah?! </li></ul>June 4, 2009 Confidential
  5. 5. Writing is a Solitude work <ul><li>2000 years ago </li></ul><ul><li>And also in the 21 st century </li></ul>June 4, 2009 Confidential June 4, 2009 Confidential
  6. 6. But We are in the 21 st Century! June 4, 2009 Confidential Community of friends New formats and strong margins Finding hidden talent <ul><ul><li>Collaboration breeds quality </li></ul></ul>New genres and formats Unique content Self expression Community drives quality content
  7. 7. Is Little Nell Dead? <ul><li>“ The Old Curiosity Shop” was weekly written for the publication “ Master Humphrey's Clock”. Dickens received weekly feedbacks from his readers, while writing the next chapters. </li></ul>June 4, 2009 Confidential June 4, 2009 Confidential Charles Dickens 1812-1870
  8. 8. What Else Doesn’t make Sense? <ul><li>Let’s check it out! </li></ul>June 4, 2009 Confidential
  9. 9. Traditional Publishing Value Chain <ul><li>Process could take years </li></ul><ul><li>No transparency </li></ul>
  10. 10. Your Chance to get Published <ul><li>1:15,000 </li></ul><ul><li>If you are a first time writer and have no connections </li></ul>June 4, 2009 Confidential June 4, 2009 Confidential Event Chances This Year Car Stolen 1 in 100 House catch fire 1 in 200 Die from Heart Disease 1 in 280 Die in Car wreck 1 in 6,000
  11. 11. The Via Dolorosa of Authors <ul><li>Gabriel García Márquez </li></ul><ul><li>Was looking for 7 years for a publisher </li></ul><ul><li>Dr. Seuss </li></ul><ul><li>Dr. Seuss - 27 rejections </li></ul><ul><li>J.K. Rowling </li></ul><ul><li>17 rejections </li></ul>June 4, 2009 Confidential
  12. 12. Content Creation - Innovations <ul><li>1,300,000 hard copies sold! </li></ul><ul><li>A Japanese college student wrote a novel using only the SMS of her mobile phone (2007, NYT) </li></ul>June 4, 2009 Confidential June 4, 2009 Confidential
  13. 13. It’s All About Talent… June 4, 2009 Confidential June 4, 2009 Confidential 3 books every year, retail sales of $120 million annually, 15% royalties to the author = $18 million James Patterson
  14. 14. Marketing James Paterson <ul><li>“ I look at it the way Henry Ford would look at it“ </li></ul><ul><li>(Patterson refers to his “books production line”) </li></ul><ul><li>HBS case 2/6/2006 </li></ul>June 4, 2009 Confidential June 4, 2009 Confidential
  15. 15. An Interesting Large Market <ul><li>Annual retail book sales = $50 billion </li></ul><ul><li>27 million people in the US have taken a writing class 3 </li></ul><ul><li>19 million people use the Internet to read or discuss issues related to literature 3 </li></ul><ul><li>Over 100 million blogs, 13 million “active” </li></ul><ul><li>81% of all Americans think they “have a book in them” 1 </li></ul>June 4, 2009 Confidential June 4, 2009 Confidential Sources: 1. NYT 9/28/02; 2. NYT 1/20/2008; 3. NEA, 2004 study.
  16. 16. <ul><li>WEbook is a next-generation publisher </li></ul><ul><li>leading the evolving convergence of blogs, social networks, digital content, and American Idol-style talent discovery to upend a $50 billion industry. </li></ul>June 4, 2009 Confidential WEbook Mission
  17. 17. Core Values <ul><li>Democracy </li></ul><ul><ul><li>Shifting power from the few publishers to the community </li></ul></ul><ul><li>Transparency </li></ul><ul><ul><li>Real-time feedback for authors </li></ul></ul><ul><li>Accessibility </li></ul><ul><ul><li>A fair chance for anyone, anywhere to become the next “American Idol” </li></ul></ul><ul><li>Community </li></ul><ul><ul><li>Taking a solitary enterprise and making it more engaging and social </li></ul></ul>June 4, 2009 Confidential June 4, 2009 Confidential
  18. 18. The Product <ul><li>Industry-leading writing tools and platform </li></ul><ul><li>Content is fuel </li></ul><ul><ul><li>People drive projects, resulting in community-sourced books, essays, stories, and scripts </li></ul></ul><ul><li>Private and public projects </li></ul><ul><ul><li>Private: friends, class, club, Starbucks customers, etc. </li></ul></ul><ul><ul><li>Public: broad and niche topics </li></ul></ul><ul><ul><li>Individuals: Interested in writing alone with optional feedback </li></ul></ul><ul><li>Publishing </li></ul><ul><ul><li>Publish best work as selected by WEbook users as Print, e-books, downloads, audio books, mobile books </li></ul></ul><ul><li>Distribution </li></ul><ul><ul><li>Distribute in multiple formats through direct and indirect channels </li></ul></ul>June 4, 2009 Confidential June 4, 2009 Confidential
  19. 19. Writers In The Center <ul><li>Protecting Copyrights </li></ul><ul><li>Profit Sharing with the writers: 50%-50% </li></ul><ul><li>Writers are free to choose any publisher </li></ul>June 4, 2009 Confidential
  20. 20. Creativity and Writing Talent <ul><li>She is creative </li></ul><ul><li>He’s a talented writer </li></ul><ul><li>Together they can create the next great book </li></ul>June 4, 2009 Confidential June 4, 2009 Confidential
  21. 21. User Generated Content: <ul><li>Community: Perfect Democracy? or some Guidance? </li></ul><ul><li>Content – what is “quality content”? Who decides? </li></ul>June 4, 2009 Confidential June 4, 2009 Confidential
  22. 22. Viral Websites: Good Engineering or Art? June 4, 2009 Confidential June 4, 2009 Confidential Beethoven Erasmus bridge, Rotterdam
  23. 23. Revenue Model <ul><li> Revenue is a distraction </li></ul><ul><li> ask the founders of Facebook, </li></ul><ul><li> Youtube, ICQ, etc. </li></ul>June 4, 2009 Confidential June 4, 2009 Confidential Strong revenue stream is a must (if you’re not a gambler)! Selling books, premium services, and advertising
  24. 24. Who should I hire for WEbook? <ul><li>My college friends? </li></ul><ul><li>(What is marketing?...) </li></ul>June 4, 2009 Confidential June 4, 2009 Confidential Industry executives? (What is Facebook?...)
  25. 25. What Kind of Investors? June 4, 2009 Confidential June 4, 2009 Confidential VCs? Angels?
  26. 26. Cool Features – Do You Have a Writing Block?
  27. 27. The Buzz
  28. 28. People Like WEbook.com <ul><li>Over 500,000 Monthly Unique Visitors </li></ul><ul><li>Over 20,000 active projects </li></ul><ul><ul><li>different genres </li></ul></ul><ul><ul><li>Quality, entertaining. </li></ul></ul><ul><li>Over 250 finished books </li></ul><ul><ul><li>Submitted for publication </li></ul></ul><ul><li>4 Great WEbooks will be published in the next 4 months (print & digital) </li></ul>June 4, 2009 Confidential June 4, 2009 Confidential
  29. 29. Quality People from 100 Countries
  30. 30. End of Chapter 1 [email_address] June 4, 2009 Confidential

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