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 email@example.com
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
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
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
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
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
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
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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