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
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)