Cab easy ext

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  • Cab easy ext

    1. 1. NAME YOUR OWN PRICE with CabEasy! App Available for Download on iTunesMission Statement: Cabeasy is a mobile app that gives you the ability to name your own price for car service on your Smartphone (Priceline Model). The process takes under two minutes.Contact: Jonathan McKinney, Founder +1 917-224-0242 jon@cabcorner.com
    2. 2. Problem(s) + Solution• PROBLEM: People (riders) in urban areas lack price-efficient transportation options that are comfortable and convenient, when traveling from point A to point B (example: airport travel).ADDITIONALLY…• Car services (providers) operate using inefficient pricing models, inelastic cost structures and generic marketing, which all combine to result in lost revenue. ⇒ SOLUTION: Create a platform in which riders have more price control AND fleet providers can maximize fleet utilization, thus reducing costs. 2/10
    3. 3. How it Works & Current Status• CabEasy is a technology-based car service bidding platform, offering riders & providers a way to interact with one another in a more dynamic and market-driven manner. ⇒ Rider inputs location/destination and submits bid to multiple provider(s) ⇒ Providers accept, reject, or counterbid rider offer ⇒ Rider accepts (best bid); rejects undesirable counterbids ⇒ Core target: urban dwelling smart phone/tablet users, with various transportation needs and discretionary income• Status as of April ’12 ⇒ Beta launched in April ’12 in New York City promoted exclusively through social media ⇒ Secured downloads and registered riders via the App Store within the first week of launch (app available exclusively on the iPhone). ⇒ Within the first week of launching, we secured 15 providers and confirmed multiple rides ⇒ Active rider/provider database with week over week growth of 50% ⇒ Business model: 1.) Transaction fees, 2.) Provider premium accounts, and 3.) Advertising ⇒ Direct competitor to Uber, better pricing structure (ex: American Express concierge vs. Priceline) 3/10
    4. 4. TRANSPORT MEANS AROUND URBAN CITIES Walking/Biking Price: low Prep Time - + Comfort Taxi/Car Service Price: high+ Comfort: medium Comfort: high Prep Time: short Prep Time: short Time Risk: medium Time Risk: medium CabEasyPrice Price: low to medium - Comfort: high Prep Time: short + Time Risk: medium Subway, Bus Shuttle Price: low Price: medium Comfort: low Comfort: medium Prep Time: Medium Prep Time: long + - Time Risk: Medium Time Risk: high 4/10
    5. 5. Total Available Market 5/10
    6. 6. Sources & Uses of Cash 5 Year Forecast Sources & Uses of Cash- 3-Year Projection All Markets 2013 2014 2015 2016 2017 Revenue Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Market Qtr Year Number of Users 134 3,527 20,892 78,138 306,283 1,012,012 New York Q3 2012 Cab Booking System-Transaction Fee (Airport) $ 653 $ 27,435 $ 225,827 $ 860,612 $ 3,423,697 $ 12,398,810 Boston Q1 2014 Cab Booking System-Transaction Fee (Inter-City) $ 321 $ 13,477 $ 111,521 $ 428,933 $ 1,716,764 $ 6,023,763 Atlanta Q2 2014 Advertising (Web/Mobile) $ 0.61 $ 51.44 $ 850 $ 4,885 $ 25,748 $ 112,425 Chicago Q3 2014 Venture Capital Investment $ 250,000 $ 500,000 $ 1,000,000 $ 1,500,000 $ 2,000,000 $ - Philly Q4 2014 Revenue Subtotal $ 974 $ 40,964 $ 338,197 $ 1,294,430 $ 5,166,210 $ 18,534,998 San Fran Q1 2015 Revenue (w/ VC Investment) Subtotal $ 250,974 $ 540,964 $ 1,338,197 $ 2,794,430 $ 7,166,210 $ 18,534,998 LA Q2 2015 Business Development & Sales Expenses Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Phoenix Q3 2015 Headcount 1 1 2 1 1 24 Houston Q4 2015 VP, Sales $ - $ - $ - $ - $ - $ 1,000,000 Dallas Q1 2016 Territory Manager $ 40,000 $ 80,000 $ 255,000 $ 535,000 $ 870,000 $ 1,590,000 (Vacant) $ - $ - $ - $ - $ - $ - Payroll taxes and benefits (medical and life ins., disability) $ 8,000 $ 16,000 $ 51,000 $ 107,000 $ 174,000 $ 518,000 Software Costs (computer programs, cell phone bills, various fee based online tools $ 3,750 $ - $ - $ - $ - $ - Hardware-Computer, mobile phone, ipads $ 2,500 $ - $ - $ - $ - $ - Business Development & Sales Expenses Subtotal $ 54,250 $ 96,000 $ 306,000 $ 642,000 $ 1,044,000 $ 3,108,000 Communications & Marketing Expenses Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Advertising-online $ 45,000 $ 48,000 $ 168,000 $ 360,000 $ 480,000 $ 480,000 Advertising-print $ 1,500 $ 3,000 $ 11,000 $ 23,000 $ 30,000 $ 30,000 Please see attached Excel Advertising-tv and radio $ 39,000 $ 62,880 $ 220,080 $ 471,600 $ 628,800 $ 628,800 Travel & Entertainment $ 6,000 $ 12,000 $ 60,000 $ 60,000 $ 60,000 $ 300,000 Communications & Marketing Expenses Subtotal $ 91,500 $ 125,880 $ 459,080 $ 914,600 $ 1,198,800 $ 1,438,800 Research, Development, & Software Engineering Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 spreadsheet for full (10x) Headcount 0 0 1 1 1 1 VP, Product & Engineering $ - $ - $ - $ - $ - $ - Programming/UX/UI Developer $ - $ - $ 50,000 $ 50,000 $ 80,000 $ 84,000 (Vacant) $ - $ - $ - $ - $ - $ - market financial analysis Payroll taxes and benefits (medical and life ins., disability) $ - $ - $ 10,000 $ 10,000 $ 16,000 $ 16,800 Research, Development & Software Subtotal $ - $ - $ 60,000 $ 60,000 $ 96,000 $ 100,800 General and Administrative Expenses Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Headcount 3 3 4 4 4 4 Chief Executive Officer $ 27,000 $ 110,000 $ 110,000 $ 110,000 $ 110,000 $ 114,510 Chief Operating Officer $ 27,000 $ 100,000 $ 100,000 $ 100,000 $ 100,000 $ 104,000 Chief Financial Officer $ - $ - $ 84,000 $ 84,000 $ 84,000 $ 100,000 Chief Technology Officer $ 60,000 $ 120,000 $ 120,000 $ 120,000 $ 120,000 $ 125,000 Payroll taxes and benefits (medical and life ins., disability) $ 22,800 $ 66,000 $ 82,800 $ 82,800 $ 82,800 $ 88,702 Office supplies $ 300 $ 1,200 $ 1,200 $ 1,200 $ 1,200 $ 3,600 Travel & Entertaiment $ - $ - $ - $ - $ - $ - Legal & Accounting $ 6,000 $ 12,000 $ 12,000 $ 12,000 $ 12,000 $ 12,000 Rent $ 12,000 $ 24,000 $ 60,000 $ 60,000 $ 60,000 $ 78,000 Google Map Technology $ 60,000 $ 120,000 $ 120,000 $ 120,000 $ 120,000 $ 120,000 Hosting fees and server maintenance $ 1,800 $ 3,600 $ 3,600 $ 3,600 $ 3,600 $ 3,600 Domain name registration $ 120 $ 240 $ 240 $ 240 $ 240 $ 240 Telephone $ 300 $ 600 $ 600 $ 600 $ 600 $ 2,400 Utilities $ 3,000 $ 6,000 $ 9,600 $ 9,600 $ 9,600 $ 9,600 Errors & Ommissions/General Liability Insurance $1M $ 6,000 $ 12,000 $ 12,000 $ 12,000 $ 12,000 $ 12,000 Postage $ 60 $ 120 $ 120 $ 120 $ 120 $ 120 General & Administrative Expense Subtotal $ 226,380 $ 575,760 $ 716,160 $ 716,160 $ 716,160 $ 773,772 Fixed Costs: Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 General Administrative Expenses $ 89,580 $ 179,760 $ 220,860 $ 223,260 $ 224,760 $ 246,960 Fixed Salaries $ 114,000 $ 330,000 $ 464,000 $ 464,000 $ 494,000 $ 527,510 Fixed Payroll Taxes and Benefits $ 22,800 $ 66,000 $ 132,800 $ 132,800 $ 162,800 $ 172,702 Fixed Costs Subtotal $ 226,380 $ 575,760 $ 817,660 $ 820,060 $ 881,560 $ 947,172 Variable Costs Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Advertising $ 85,500 $ 113,880 $ 399,080 $ 854,600 $ 1,138,800 $ 1,138,800 Software Costs (computer programs, cell phone bills, various fee based online tools $ 3,750 $ - $ - $ - $ - $ - Hardware-Computer, mobile phone, ipads $ 2,500 $ - $ - $ - $ - $ - Travel & Entertainment $ 6,000 $ 12,000 $ 12,000 $ 12,000 $ 12,000 $ 12,000 Variable Salaries $ 40,000 $ 80,000 $ 305,000 $ 585,000 $ 950,000 $ 2,674,000 Variable Payroll Taxes and Benefits $ 8,000 $ 16,000 $ 61,000 $ 117,000 $ 190,000 $ 534,800 Variable Cost Subtotal $ 145,750 $ 221,880 $ 777,080 $ 1,568,599 $ 2,290,799 $ 4,359,600 6/10 Total Revenue $ 974 $ 40,964 $ 338,197 $ 1,294,430 $ 5,166,210 $ 18,534,998 Total Expenses $ 372,130 $ 797,640 $ 1,541,240 $ 2,332,759 $ 3,054,959 $ 5,421,371 EBITDA $ (371,156) $ (756,676) $ (1,203,042) $ (1,038,329) $ 2,111,250 $ 13,113,626
    7. 7. Profit & Loss Statement 2011 For the Year Ended 12/31/2011 Income $ - Expenses: Advertising and Promotions $ 3,841.05 Public Relations 3,500.00 Platform and Network Expenses 1,417.23 Legal & Accounting 3,000.00 Market Research 3,350.00 Meals and Entertainment 952.66 Office Supplies 438.90 Postage & Delivery 65.01 Copyright fee 35.00 Merchant Account Fees 119.63 Bank Service Charges 101.00 Miscellaneous Expenses 379.00 Depreciation and Amortization 19,112.00 Total Expenses $ 36,311.48 Net Ordinary (Loss) $ (36,311.48) Other Income/Expense: Interest Income 6.42 Total Other Income $ 6.42 Net (Loss) $ (36,305.06) 7/10
    8. 8. Team• Founder: Jonathan McKinney (http://linkd.in/JwDHXN) ⇒ Graduated from Wesleyan University in 2004, and initially explored the world of nonprofit organizations, notably at Visions Services for the Blind in NYC. He then shifted gears, working as a junior bond analyst at R.W. Pressprich before heading off to Asia to teach on a two year assignment. ⇒ Upon returning to the U.S. in 2008, he founded and launched a New York City centered mobile web based cab-sharing platform, "CabCorner.com". In 2012, he expanded his model to include "CabEasy" a cab-bidding platform.• Technical Lead: Galaxy Weblinks (http://bit.ly/L2TW5) ⇒ Developers of http://karmaplate.com ⇒ Tech team in India and USA ⇒ Experienced developers in eCommerce sites, mobile apps, API, ⇒ Work relationship dates to early 2007 on other projects 8/10
    9. 9. Milestones + Capital Needs• Seed round goal(s) ⇒ Full implementation of revenue models: Transaction fees and advertising model ⇒ Target City: New York City ⇒ Usage: 134 active users & 100 active providers ⇒ EBITDA: (-$371,156)• $18M revenues in fifth year ⇒ Usage: 1,012,012 active users & 325 active providers ⇒ Penetration in top (10) urban markets: New York City, Boston, Chicago, Atlanta, Los Angeles, San Francisco, Houston, Philadelphia, Phoenix, & Dallas ⇒ EBITDA: $13,113,626• Capital needs to reach milestone: $250K ⇒ Development & implementation of transaction fee model ⇒ Rider/provider acquisition activity ⇒ Expansion of platform distribution channels (ex: Android, iPad) 9/10 ⇒ Cabeasy team development
    10. 10. So Why Invest in Cabeasy?• CabEasy is simple and clear ⇒ A simple concept & promise: name your own price and save money ⇒ Ease of use for riders & providers ⇒ A scalable product ⇒ A proven model in test market (NYC) and ready to launch in more US cities and internationally ⇒ Less than 1 month after beta launch, active and growing base of riders and providers• Next steps __________________________________________________________ __________________________________________________________ __________________________________________________________ 10/10

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