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

    1. 1. Mivesta  Real life, connected.
    2. 2. The Social Network Prob/ortunity <ul><li>Social networks: great for info sharing, status & games </li></ul><ul><li>Mostly text , not real time action. </li></ul><ul><li>Talk about doing stuff, rather than doing it together! </li></ul> How can we connect people to do stuff together, like in real life?
    3. 3. Opportunity for Cooking, Connected <ul><li>Big, sticky, addressable market </li></ul><ul><li>81% of US adults enjoy cooking at home, & cook frequently. </li></ul><ul><li>15% of US adults watch cooking TV “very often.” </li></ul><ul><li>Tech trends: tablets, mobile, broadband, & video </li></ul>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
    4. 4. Cook-along with Mivesta  …. <ul><li>Social collaboration portal </li></ul><ul><li>Real time, interactive video streams </li></ul><ul><li>Multiple users - video, text, audio chat </li></ul><ul><li>Cook-along with chefs or friends </li></ul><ul><li>Experiential, real, social events </li></ul>Enchant our community members with creating, sharing,& learning… 30 second App Demo
    5. 5. 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
    6. 6. 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
    7. 7. Early Launch: Enchant & Engage <ul><li>Supportive community beta: invited foodies & bloggers </li></ul><ul><li>Sponsors - select SoFla restaurants & chefs </li></ul><ul><li>Local events & PR - Taste of Brickell </li></ul><ul><li>Word of Mouth - cook-alongs </li></ul><ul><li>Niche Ads- FoodBuzz, InfluAds </li></ul><ul><li>Social media & SEO </li></ul>Mivesta will constantly code & release based on user loves/hates.
    8. 8. Phases of Development Idea or Suggestion Code Data Assess Test Develop Agile, user-centered process <ul><li>Bootstrap building phase </li></ul><ul><ul><li>Scalable MVP web app </li></ul></ul><ul><ul><li>User Beta launch - 5/3/11 </li></ul></ul><ul><li>iPad App - launch 8/1/11 </li></ul><ul><li>New features - ongoing </li></ul><ul><ul><li>Continuous process </li></ul></ul><ul><ul><li>User driven ---> </li></ul></ul><ul><li>Scale up for growth 2012 </li></ul><ul><li>Non-profit education arm </li></ul>
    9. 9. Monetized Business Model <ul><li>Free, ad-supported from day 1 </li></ul><ul><ul><li>Stage 1: AdSense & sponsored events </li></ul></ul><ul><ul><li>Stage 2: Targeted, interactive ads </li></ul></ul><ul><ul><li>Stage 3: Event-linked deals & major sponsors </li></ul></ul><ul><li>VestaChefs - rating/mentor system; % of ads </li></ul><ul><li>Focus: make users happy through sharing creative, active, real-life connections </li></ul>Projected break even run rate within 12 months of launch
    10. 10. 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)
    11. 11. Questions & Answers
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