Mivesta5minpitch
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Mivesta5minpitch

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  • Do you have time to get, oh, let’s say 10 friends together to try out a new recipe? When? Where? How?
  • 10 MM unique visitors to Foodbuzz.com 5 million watched Top Chef finale last yr on Bravo Also about a million primetime viewers on cooking channel Top property is Foodbuzz, which curates thousands of recipes websites and blogs

Mivesta5minpitch Mivesta5minpitch Presentation Transcript

  • Mivesta  Real life, connected.
  • The Social Network Prob/ortunity
    • Social networks: great for info sharing, status & 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?
  • Opportunity for Cooking, Connected
    • Big, sticky, addressable market
    • 81% of US adults enjoy cooking at home, & cook frequently.
    • 15% of US adults watch cooking TV “very often.”
    • Tech trends: tablets, mobile, broadband, & video
    How can we connect people to create, share & learn ? Online “Foodies” Sources: Quantcast -2010 Monthly unique US visitors-CNN app downloads & Harris Poll 14.0 M users FoodBuzz 2.0 M apps .5 M users Big Oven 1.1 M apps 1.5 M users Epicurious 4.8 M users Food.com 7.3 M users Allrecipes.com 7.8 M users FoodNetwork
  • Cook-along with Mivesta  ….
    • Social collaboration portal
    • Real time, interactive video streams
    • Multiple users - video, text, audio chat
    • Cook-along with chefs or friends
    • Experiential, real, social events
    Enchant our community members with creating, sharing,& learning… 30 second App Demo
  • Team Mivesta: Creative & Smart Richard Velasquez Entrepreneur Advertising student at UF Sales experience Funding, concept, & promotion Visionary CEO Andrea Fuentes Business Generalist Artist, Educator, Cook MBA + prior start up Creative, content, & org Make it happen COO Roberto Andrade & Greg Bachrach 17 + 22 years experience App development IT infrastructure Synthovation Tech Team Amy Jie Zhao UF Grad Student Web Design & development 5 years experience Creativity System Analyst
  • Competition Cook-Off Written recipes and photos SocialEyes Interactive Video streams TV shows Live video streaming events Social sharing or commentary Educational Chef or Pro videos User video library Mivesta  Ustream & YouTube AllRecipes & FoodBuzz Food Network
  • 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 based on user loves/hates.
  • Phases of Development Idea or Suggestion Code Data Assess Test Develop Agile, user-centered process
    • Bootstrap building phase
      • Scalable MVP web app
      • User Beta launch - 5/3/11
    • iPad App - launch 8/1/11
    • New features - ongoing
      • Continuous process
      • User driven --->
    • Scale up for growth 2012
    • Non-profit education arm
  • 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 of launch
  • Investment Opportunities/Plans $300K (soft) $20K + $80K Stage 2 Rollout Stage 1 Launch Pre- Launch -iPad app build -1 FTE developer -IT infrastructure -Interactive ad -Hit breakeven -Minimal founder $ Angel R ound -Launch cost -Hosting & new features Friends & Family (through 3/11) -Start up cost -Building MVP Founder Capital (excluding sweat equity)
  • Questions & Answers