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Myne Business Plan Myne Business Plan Document Transcript

  • TABLE OF CONTENTS EXECUTIVE SUMMARY............................................................................................... 02 STATUS........................................................................................................................... 04 COMPANY DESCRIPTION.......................................................................................... 05 PRODUCT ROADMAP.................................................................................................. 06 MARKETING STRATEGY............................................................................................. 07 MANAGEMENT AND ORGANIZATION.................................................................... 10 EXPENSES........................................................................................................................11 FINANCIAL PLAN.......................................................................................................... 12 APPENDICES...................................................................................................................13 1Investor Summary • September 2011 • Copyright © 2011 fourthdimensionline • CONFIDENTIAL myne.com • jeremy@myne.com
  • Contact: www.myne.com Jeremy@myne.com (646) 872-5320MYNE EXECUTIVE SUMMARYMyne is the world’s first Intimate Gaming Platform. Myne disrupts social gaming because it creates a gameenvironment based on a user’s actual life, rather than an artificial life. Myne disrupts market researchbecause it creates an intimate setting in which people volunteer information to the company, rather thancreating an impersonal system through which the company extracts information from people. BecauseMyne’s intimate setting incentivizes people to be truthful and thoughtful, the resultant market research isexceptionally precise and unbiased. The world’s leading supplier of market information, Nielsen, hasconfirmed that Myne is accumulating “deep data … that are completely unique and exceptionally rich,”and has indicated that Myne is the type of company that they would purchase.ProblemsUSERS: (a) Social games - and social media generally - are superficial. On Farmville, a user cultivates afake farm. On Facebook, a user shares soundbites drawn from surveys of the world outside: Articles,photographs, videos, etc. Few platforms allow users to ‘go deeper—to discover and share insights fromexplorations of the world within: her passions, prejudices, fantasies, fears, sins and secrets.BUSINESSES: Producers of market research (Nielsen, Gallup, etc.) are unable to collect intimate,unbiased and precise personal information.SolutionMyne is an intimate gaming platform. Users play games 1) in an intimate setting 2) based on intimatequestions 3) with their intimate (close friends and family).Example of a myne game: My family and I predict one anothers answers to the question, Would I votefor a Mormon President? (0 = No; 100 = Absolutely.) The game takes 15 seconds to play. The Results: • Group Average: 43%; • Rank order of answers: 85%, 79%, 44%, 20%, 3%; • Best/Worst Predictor; • Most/Least Predictable; • Best/Worst Prediction; • Average for other users: 36%.
  • OpportunityUSERS: Looking for a deeper experience online: Between 5 to 10 million users have left Facebook in2011 alone. Not interested in artificial-life games: Only 5% of Facebook users play Zynga’s social games.BUSINESSES: Quotes from Nielsen: “You’re accumulating rich, deep data that can be processed in manyways.” “Sounds like a great opportunity for targeted advertising.”Competitive Advantages 1. Original Content (5,000 questions and games updated daily) 2. Academic Expertise/Deep connections to academia 3. Sliding Bar Answers: Common Metric for Comparing/Analyzing DataBusiness Model1. Sell anonymous, aggregate data to producers (e.g., Nielsen) and consumers (e.g., Ogilvy) of marketresearch. We have spoken to numerous companies that have expressed interest in our data, includingNielsen, Ogilvy and CoStar. Nielsen indicated that Myne was the type of company that they wouldpurchase.2. Sell access to data through targeted advertising partnerships. Our precise data will allow companies totarget customers with exceptional precision.TeamJeremy Fischbach, CEO: 10 years in Music Industry; J.D., NYU; B.A. Psychology, Princeton.Mark Rosenberg, President: 8 years as social science researcher; Ph.D. Political Science, UC Berkeley(2012).Ely Alvarado, Lead Developer: Fmr WebApps Coord., Smartmatic. Univ. of Alejandro de Humboldt,Venezuela.Gregory Mueller, Head of Product/Design: Former Yahoo!, Maya Design. MS Human-ComputerInteraction, Carnegie MellonJustin Junge, Head of Research: Post Doc Psych, Harvard. PhD Psych, Yale.Successful PrecedentsNielsen Acquisitions: Buzz Metrics (47M); IAG (225M)Hearst Acquisitions: Real Age (60M)Google Acquisitions: Aardvark (50M); Slide (280M)Current Raise200K at a 3.25M valuation.Previous Raise360KMYNE Executive Summary • OCT 2011 • Copyright © 2011 fourthdimensionline • CONFIDENTIAL
  • STATUS Founded: June 2010 Location: New York City Prior Capital: $360,000 Current Raises: Bridge: $60K at $2.7M valuation Institutional: $1.5M Burn Rate: $35K/month Stage:Alpha testing, 1 week to Beta launch Founding Team Jeremy Fischbach. CEO: 10 years in Music Industry; J.D., NYU; B.A. Psychology, Princeton. Mark Rosenberg. President: 8 years as social science researcher; Ph.D. Political Science, UC Berkeley (2012). Lukman Ramsey. CTO: 20-year IT veteran; Co-founded Talk2Us; Developed industry standard IVR architecture; B.S., MIT; Candidate Comp. Sci, UCSD. Greg Mueller. 8 years in Design and User Experience. M.S. Human-Computer Interaction, CMU. Design for MAYA Design and Yahoo! Inc. Key Advisors Andy Przybylski: Consultant, Immersyve (Video Game Testing and Research); Social Psychology Research Fellow, University of Essex; Ph.D Clinical and Social Sciences, Rochester. Justin Junge: Post-doc Psychology, Harvard. Ph.D. Psychology,Yale. B.A. Psychology, Harvard. Jason Klein: Co-Founder, Special Ops Media; Former President, LBi. Rich Franceroni: Senior Graphics Editor at The Wall Street Journal. 4Investor Summary • September 2011 • Copyright © 2011 fourthdimensionline • CONFIDENTIAL myne.com • jeremy@myne.com
  • COMPANY DESCRIPTION Mission Statement Myne helps people derive direct benefit from their personal data. By giving people greater knowledge of themselves and the people closest to them, Myne provides users with an enriched understanding of their past; the resources to make informed decisions in the present; and a concrete foundation for generating deep and durable happiness in the future. Company Goals For users: To make it as fun to cultivate your actual life as The Sims makes it to cultivate a virtual life. For businesses: To build one of the most valuable databases of human information. Business Philsosphy Every decision we make must further the ability of people to generate full and accurate information about themselves for their benefit.This people-centered process contrasts with the ubiquitous practice of traditional information- gathering entitites – e.g., scientists, politicians, market researchers, and the media – which generally fail to provide their subjects with any direct personal benefits.This failure is understandable because 1) it is difficult to gather accurate information from people in the first place (whether it be through polls or scientific studies) and 2) entities that gather information about people are rarely guided by a desire to fully and accurately inform those people about themselves. The result is that people are largely uninformed about themselves. Fortunately, this means that there is vast, untapped potential to help people make better decisions – that are more informed and more productive of happiness – relating to self-image, jobs, health, relationships, finance, family and friends. Product Marketing Strategy Initially, Myne targets “generation-x” women who are active online.They represent a fast growing and highly engaged online audience of 60mm users. Industry Indicators We are poised to take advantage of several industry trends: 1) Social-networking sites focus on expanding a user’s outer circle, rather than strengthening her inner circle; 2) VC’s are on the lookout for companies that can learn from Path’s mistakes; 3) So-called ‘social-gaming’ sites are successful but not social; there is vast opportunity for a site that combines game mechanics and is truly social; and 4) The data-collection methods used by market research entities like Nielsen and Gallup are labor and capital intensive — our contacts at Nielsen have suggested that a company like Myne, which sources market research through gaming, would be an ideal purchase for them. Strengths and Core Compenency Our competitive advantages: 1) Our content; 2) Human Information Project; 3) First-mover status. Legal form of ownership LLC, soon to convert to a C-Corp. 5Investor Summary • September 2011 • Copyright © 2011 fourthdimensionline • CONFIDENTIAL myne.com • jeremy@myne.com
  • PRODUCT ROADMAP March 2011:Alpha Launch • Personal question-and-answer platform, organized by category (Beliefs, Personality, Finance, Family, etc). • Single questions and multi-question “Explorations” May 2011: Introduce Sharing Features • “Shelters:” share answers in private group setting (now called “Circles). Posting and comments. • Share answers via Facebook,Twitter June-August 2011: Pivot to Games Development of 5 game types appropriate for existing content. • Predict: Users predict each others’ answers to questions. Results reveal how well you know the members of your inner circle and how well they know you. • Reveal: Users can dare other users to answer our most provocative questions. In other to the other players’ answers, a player must answer the question. • Mirror:A user can ask other users what they think about him or her (i.e.“Am I high maintenance?”) and see how her self-impression compares to the impressions of her friends and family. • Judge: users can hold a contest among a group of players by asking a question like “Who’s the most likely to go to jail?” or “Who has the cutest pet?” • Poll: users pose a question to the group and compare answers. September 2011: Beta Launch November 2011: Public Launch Coming Soon Mobile Applications (iPhone,Android): • Photo-submission games • Real-time, location-based games “Me” Page: Dashboard for personal analytics based on data derived from games. • Gaming Statistics and Awards • Data comparisons by age, gender, location • Timeline: data comparisons over time, data repository • Sharing statistics (with whom, how much, which kinds of question) 6Investor Summary • September 2011 • Copyright © 2011 fourthdimensionline • CONFIDENTIAL myne.com • jeremy@myne.com
  • MARKETING STRATEGY Beta Launch Viral Marketing through Facebook, Gmail,Twitter, etc. • Enable users to start games with Facebook, Gmail,Twitter contacts • Enable users to share results on Facebook, Gmail,Twitter contacts Blog seeding Public Launch Partner with Lbi, Genex Exploit media contacts at New York Magazine, NPR, New York Times,Vice Magazine 18 month plan includes 250K for marketing campaign: branding, digital marketing, analytics, formal PR, strategic partnerships 7Investor Summary • September 2011 • Copyright © 2011 fourthdimensionline • CONFIDENTIAL myne.com • jeremy@myne.com
  • MARKETING STRATEGY CONT. 8Investor Summary • September 2011 • Copyright © 2011 fourthdimensionline • CONFIDENTIAL myne.com • jeremy@myne.com
  • MARKETING STRATEGY CONT. 9Investor Summary • September 2011 • Copyright © 2011 fourthdimensionline • CONFIDENTIAL myne.com • jeremy@myne.com
  • MANAGEMENT AND ORGANIZATION Board of Directors None. Management Advisory Board None. Attorney Hemmie Chang, Foley Hoag LLP http://www.foleyhoag.com/People/Attorneys/Chang-Hemmie.aspx Accountant Robert Mitgang, Peretz, Resnick, Mitgang & Marcus LLP http://www.peretzcpas.com/index.php?About_Us:Robert_Mitgang Consultants Gregory Mueller Andrew Pryzbylski Daniel Khabie http://investing.businessweek.com/research/stocks/private/person.asp?personId=49763600&privcapId=40184711&p reviousCapId=40184711&previousTitle=Digitaria%20Interactive,%20Inc. Jason Klein http://investing.businessweek.com/research/stocks/people/person.asp?personId=43962409&ticker=LBI:NA&previo usCapId=141202&previousTitle=LBI%20INTERNATIONAL%20NV 10Investor Summary • September 2011 • Copyright © 2011 fourthdimensionline • CONFIDENTIAL myne.com • jeremy@myne.com
  • EXPENSES Executive Salaries $7,500/month x 3 (JF, MR, LR) = $22,500/month Website Development $7,200/month Operations Website: $400/month 11Investor Summary • September 2011 • Copyright © 2011 fourthdimensionline • CONFIDENTIAL myne.com • jeremy@myne.com
  • FINANCIAL PLAN Sell data to approved parties Consumers of market research data • Marketing & Advertising ($15B data spend 2009) • Health & Pharma ($7.3B 2007) Producers of market research data • Market Research firms (top 10 > $13B data sales) • Political/Social Research firms ($1.7B campaign consulting) Facilitate advertising partnerships between consumers and businesses 4.4B per year projected for 2012 Active interest from: • Market research firms: Nielson, IMS Health, Draft FCB • Advertising firms: Ogilvy, Harrison and Star • Healthcare: Genzyme, Johnson & Johnson,Abbot, Greentech • Academic: Harvard, Princeton,Yale, UC Berkeley 18 Millions users by year 5 3 Million active users 12Investor Summary • September 2011 • Copyright © 2011 fourthdimensionline • CONFIDENTIAL myne.com • jeremy@myne.com
  • APPENDICES SIX MONTH PLAN DATA COST ESTIMATES ANALYSIS BY ANDREW PRZYBYLSKI 13Investor Summary • September 2011 • Copyright © 2011 fourthdimensionline • CONFIDENTIAL myne.com • jeremy@myne.com
  • SIX MONTH PLAN September 2011 • Complete bridge fundraise • Public Beta launch 4th Quarter 2011 • Launch mobile applications • Complete $1M institutional fundraise • 10,000 users 1st Quarter 2012 • Make first data sale • Hire additional personnel: • Data Sales Professional • 1-2 Software Engineers • Consultant to Self-Help Industry • Launch Human Information Project • 50,000 users 14Investor Summary • September 2011 • Copyright © 2011 fourthdimensionline • CONFIDENTIAL myne.com • jeremy@myne.com
  • SAMPLE ESTIMATES FROM OGILVY & MATHER 15Investor Summary • September 2011 • Copyright © 2011 fourthdimensionline • CONFIDENTIAL myne.com • jeremy@myne.com
  • SAMPLE ESTIMATE FROM PHARMA MARKET RESEARCH CONSULTANT September 2010 Background Lifemine has created a database of consumers that provides demographic and attitudinal information across a number of product and healthcare related categories.This data when aggregated will be able to provide Marketing organizations with easy access to profiles of their target consumers. Still in the early stages Lifemine is seeking input regarding how to best package the deliverables and price thier services. Objectives • To better understand potential client expectations around data delivery • To gather some points of reference for pricing of data. Sample Specs/Criteria Lifemine has gathered profiles from more than 10,000 US based consumers.This allows them to analyze robust representative samples of various target markets. For the purpose of this assumption we will concentrate on what would be needed by a client focusing on the consumer with diabetes. The following specifications would provide a strong foundation for any analysis. A representative sample of 2000 or more people with diabetes would allow for reasonable analysis of subsets in the general diabetes population. Based on recent statistics from the ADA, the following characteristics should fall out in a representative diabetes sample. • Approximately 95% Type 2, 5% Type 1 • Approximately 28% insulin using, 57% Oral medication only, 15% no meds • Approximately 87% of the sample should be testing their blood glucose at home (regardless of frequency). • Age, income, race and product/therapy use should fall out if the diabetes subgroup is pulled from representative master sample. (Note the main sample should be representative, across key CPS statistics of geography, age, gender, income, race/ethnic, household size, and education). Due to the intensive treatment and heavy product usage of patients using insulin, specifically those with Type 1, a separate sample of 1000 insulin users could be of interest to many organizations. (If a general diabetes sample exceeding 4000 could be achieved, this would be expected to fall out). The key characteristics of this insulin using subgroup would be as follows: • Approximately 18% Type 1, 82% Type 2 (60% of Type 2 are insulin only/no orals) • Pump usage among Type 1’s should fall between 33%-40% • Approximately half of insulin injectors should be doing at least 3 injections a day. Deliverables and Pricing Data delivery could contain several options depending on the needs of a marketing organization. In the chart below several options are listed with corresponding assumptions about price: 16Investor Summary • September 2011 • Copyright © 2011 fourthdimensionline • CONFIDENTIAL myne.com • jeremy@myne.com
  • Please let me know if you would like further clarification of my assumptions or ideas. Sincerely, Laura Marshall Market Research Consultant 2624 Sutter St. Unit B San Francisco, CA 94115 Phone: (415) 722-7920 E-mail: laura_L_Marshall@yahoo.com 17Investor Summary • September 2011 • Copyright © 2011 fourthdimensionline • CONFIDENTIAL myne.com • jeremy@myne.com
  • ANALYSIS BY ANDREW PRZYBYLSKI Consultant, Immersyve (Video Game Testing and Research); Social Psychology Research Fellow, University of Essex; Ph.D Clinical and Social Sciences, Rochester. Overview Myne asked me to layout how I view (1) applying a gaming framework to Myne and (2) for some specific feedback on how the current build of Myne could be made more psychologically engaging in the near term.This is super brief and probably has typos. Applying a gaming framework Motivation for playing games is best understood as intrinsic – that is, inherently enjoyable, an end in itself.Although reward elements of games (e.g. badges) may serve as extrinsic motivators – an activity that brings user something they want (like money) – this form of motivation is short-lived. For an activity (like gaming) to be ongoing motivating it needs to satisfy three basic human needs. Research shows these are consistent across cultures and other demographics. (a) Autonomy - feeling one can make meaningful choices, (b) Belonging - feeling one cares, and is cared for by those most important to them and (c) Competence - a sense of efficacy. Example of gaming framework using sim city In SimCity the implicit user goal is to build a self-sustaining metropolis – how they do this is bounded by their imagination and the structure of the game, e.g. advisors, natural disasters, economics. For Myne the goal could be deepening and strengthening important social links and self-knowledge. (a) Autonomy SimCity provides:A start with small starting budget, a wide environment for unchecked growth and/or premade cities facing specific catastrophes. In both cases user choices expand as they play and master the basic/general challenges. Myne could: • Provide questions that start general and let user drill down. • Providing 10 interesting games that expand in scope are more fun than a list of 100 games that can be overwhelming. • Asking of custom follow-up questions to deepen conversations. (b) Belonging SimCity provides: In-game news papers compare user’s city to fictional game cities and in-game personas that provide advice or highlight areas for improving sim welfare.Truth be told, most of the belonging satisfaction comes from discussing games with other players.The game the Sims captures this dimension better. Myne could: Provide feedback that lets user compare him/herself to: • Self in the past • Members of circles • Myme population • Geolocation populations Provide chances to invite close others to discuss user’s standing on these comparisons -> skype style chat. 18Investor Summary • September 2011 • Copyright © 2011 fourthdimensionline • CONFIDENTIAL myne.com • jeremy@myne.com
  • (c) Competence SimCity provides: Monthly budget, population, demand for residential/ commercial/ industrial – advisors come on the scene Myne could: Provide meaningful feedback on games that: • Helps people learn more about themselves • Helps people learn more about close others. • Quantify connectedness of individual to close others compared to past self and Myme population as a whole Take on more challenging kinds of questions in a graded fashion. • Don’t necessarily launch in with “Am I attracted to members of my own sex?” • Start with “What do I think is important in romantic relationships” The gradual ratcheting up of intimacy of games can be its own draw. Show user the degree to which they’re learning or think they’re learning more about themselves and others. 19Investor Summary • September 2011 • Copyright © 2011 fourthdimensionline • CONFIDENTIAL myne.com • jeremy@myne.com