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iPhone Application Project created in NYU class entitled: "Ready, Fire, Aim: Entrepreneurship 2.0"

iPhone Application Project created in NYU class entitled: "Ready, Fire, Aim: Entrepreneurship 2.0"

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  • *I am [a prospective NYU Student] and I want a new way to explore [ NYU] . -Do we want to include images of the methods? A tour book, a person, a website?
  • *I am [a prospective NYU Student] and I want a new way to explore [ NYU] . Filters for credible sources
  • -The tour information industry is dying, just like the newspapers (Newspaper industry dying: Regional and interest specific ones that are surviving). App Store (Grease)
  • -http://www.readwriteweb.com/archives/todays_iphone_users_are_young_rich_and_technically_savvy.php -Our Customer: Prospective NYU student and family, Valuable customers, “Sticky” due to business model -I am [a prospective NYU Student] and I want a new way to explore [ NYU] .

iGuide iGuide Presentation Transcript

  • A new way to explore. Ajay Chainani Andrew Greier Bethany Halbreich Jonathan Jeong Jordann Wine
  • Agenda• Company purpose• Problem• Solution• Why now• Market Size• Competition• Product• Business Model• Team• Financials
  • Company Purpose To provide an interactive mobile exploration tool that serves as a custom guide based on specific interest areas• Short Term: Provide a detailed guide around NYU’s campus for new and prospective NYU students: – Specific to school, interests, and location – Recommends sponsored local attractions• Long Term: Expand upon our mobile platform to provide guidance to consumers globally: – User generated content – User rating system• Value Proposition: – Buyer: An exciting, customizable, mobile, GPS-based guide – Seller (Advertiser): Location based advertising that is relevant
  • ProblemToday: When people explore and learn aboutphysical places, they rely on the internet, word-of-mouth, tour books, or even guesswork Pain: None of these methods combine guidance, customization, mobility, and credibility
  • Solution• Value Proposition: An interactive mobile exploration tool that serves as a custom guide based on specific interest areas. iGuide is built on the iPhone platform, leveraging location-based GPS technology, and powered by user generated content• “I am a prospective NYU student and I’d like a new way to explore athletic facilities around campus”• Why use it? – Interactive and customizable process – Cuts search and sorting time – Specific and credible content – Fun to use
  • Why Now?The Evolution• The tour information industry has not changed much over the years: – Tour books & tour guides  Tourism information on the internet• The directory industry however has changed: – Yellow Pages  Directory information on the internet  Yelp!  Yelp! Mobile Recent Trends Make This an Opportune Moment • Technological Advancements: – iPhones with GPS – Apple store platform – Mash-ups • Clutter of data • Business Model: – GPS based advertisements
  • Market SizePhase I – NYU • > 80,000 people want to explore NYU in a customized way • > 40,000 students1 tour NYU each year; enrollment of > 40,000 students1 • Benefit from cyclical admissions and academic process • NYU is the ideal location for the iGuide platform App: • Relatively higher penetration of Apple products • Cosmopolitan surroundings allow for customization in exploring interestsValue of Our Customers • “I am an NYU Student and I want a new way to explore Japanese Denim Stores” • iGuide customers are valuable >12,000 • “Sticky” due to business model >7,500 Downloads • Leverage the diversity of NYU Downloads • NYU students live in & around campus • Growing applications to NYU >4,000 Downloads1 NYU Campus Admissions2 See market size & distribution assumptions
  • CompetitionCurrent Competition: Competitors Weaknesses Strengths VulnerabilityNYU Welcome Center •Inconvenient •Credible •Not In-depthTour •Not customized to the •Questions •Biased individual •PersonableCampustours.com •Not Mobile •Large database •Does not leverage phone •Not customizable •Specific information technology •BiasedFuture Competition:Yelp •Not customizable •Categorized •No guidance provided •Solely a directory •User-generated contentNot For Tourists •Not interactive •Maps •Does not leverage phone •Not customizable •Credible Commentary application technology •Web-based & bookTour Books •Costly •Book •Not customizable •Book •Recommendations •Not detailed enough •Credible *All competitors mentioned are possible adjacent market entrants.
  • Competition (Cont.)• Competitive Advantages: • Sustainability: – Mobile platform – The fact that we have – User-generated content physical real estate on the – Customizable customer’s phone and they made the purchase it – GPS-based creates high switching – Cheaper costs. – As a first mover we will be• Roadmap to sustain/build this able grow our user- advantage: generated content faster – Through four phases of execution, beginning with NYU, and eventually expanding to a global level
  • Competition (Cont.)Competitive Landscape
  • The Product
  • The Product (Cont.)
  • Business Model• Revenue Model: Product and Advertising• Revenue derived from paid downloads of application and location based advertising – Charge a marginally higher price in the iTunes Store – Signals a high quality product – Induces customer to use application more often improves advertising revenue – Once the application is purchased, all additional tours are free of charge – Comparable products range from free (Yelp) to $9.99 (Zagat) – Relative to the industry landscape, we are in• Sales & Distribution: – Apple Apps Store – Endorsement by NYU• Pricing: – average account size and or lifetime value – Customer pipe line list
  • Team Board of Advisors (skills/profession):Patrick Gorman (Founder iFind Group), Professor Norman White (NYU IOMS Dept. Head) Also interested in having lawyers, tour industry experts, and investors
  • Financials• P&L• Balance Sheet• Cash Flow• Cap table• The Deal (ask for money and tell why)