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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
  • Transcript

    • 1. Mivesta  Real life, connected.
    • 2. 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?
    • 3. 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
    • 4. 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
    • 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. 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. 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.
    • 8. 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
    • 9. 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
    • 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. Questions & Answers

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