Zenlike Investor Deck

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Zenlike Investor Deck

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Zenlike Investor Deck

  1. 1. David Quail Co-Founder, Zenlike david@zenlike.me Thursday, August 8, 13
  2. 2. the problem: An increasing number of repetitive and mundane tasks. Technology often adds rather than assists. We want people to live more simply. ) Photo: The Office (NBC Thursday, August 8, 13
  3. 3. Human intelligence Online Services Artificial Intelligence and Machine Learning “Help” Thursday, August 8, 13 “Here’s how we can help ...” “Tomorrow’s secretary will be an algorithm + a commoditized human workforce + services. And it will automate these mundane tasks ...”
  4. 4. how it works Zenlike provides deep vertical solutions to problems including those that administrative assistants are already being paid to do. There are 3 core technologies making this possible today. Artificial intelligence. Machine learning and natural language processing are at a stage where they can be leveraged to provide solutions to these problems. Thursday, August 8, 13 Commoditized workforce / Crowd computing. Human intelligence has become cheap with services like Mechanical Turk. While others like oDesk have made services and labor more accessible. Mobile phones which provide immediacy. A truly delightful solution to providing this assistance requires immediacy. Mobile phones provide this.
  5. 5. becoming tomorrows secretary Zenlike will provide assistance for a wide array of mundane and repetitive tasks using AI + crowd computing. But unlike others that focus on broad, low value tasks, our first step is to build a delightful product that goes deep in solving one very high value task - coordinating meetings - in a seamless way. With that, we’ll leverage the technology, user base, and marketing to automate other high value tasks seamlessly within existing workflows namely email. Thursday, August 8, 13
  6. 6. the first pain point to automate I coordinated a lot of one on one meetings in 2012 during and after selling my last startup to Yousendit. The process was always repetitive, and mundane. “Wanna get together next week?” Initiation Research locations address + participants on Linkedin, Twitter etc. Coordination “How’s Thursday?” “Nope. Friday?” Thursday, August 8, 13 “Sure. 3PM” “Blue Bottle Coffee?” Calendar Creation “Send me your phone # just in case” Renegotiation “Uh oh. Friday doesn’t work anymore. How bout Monday” Reminders & Data
  7. 7. I tried to find a solution ... #FAIL #WIN * Human powered assistant for $200/month • After training my human assistant, Zirtual was an elegant solution that fit beautifully into everyones existing workflow. But it’s expensive for just meeting coordination Everyone has to change behavior. • Thursday, August 8, 13 Way too much friction. • • • Incremental value.
  8. 8. “Holy CROW” We could use artificial intelligence and crowd computing to create an even more delightful experience of using Zirtual for meeting coordination ... AND other mundane, repetitive tasks!!! We could be the best assistant. is born Thursday, August 8, 13
  9. 9. enter product 1: meeting coordination • Coordinating manually is time consuming: ~20 minutes for each meeting (emails back and forth + creating the meeting invite). • This is hard while on a computer and impossible while on a mobile device. • It’s not just “saving time.” Rarely do meeting invites include details about participants, or location. They should. • Existing solutions force everyone to change your workflow, or are expensive. But an Executive assistant solution works beautifully once trained. Thursday, August 8, 13
  10. 10. demo V1.0: using Zenlike to create a meeting invite from an existing thread 2. Email is parsed by Zenlike and an invite is sent out including dossier information about participants. * Works from any email client including mobile. 1. Add meetings@zenlike.me to email thread where consensus has been formed to meet. Thursday, August 8, 13
  11. 11. demo V1.1: using Zenlike to coordinate a meeting from within email. 2. Zenlike responds to everyone with available times suggested. A meeting can be booked within this email by selecting the time that works. * Works from any email client including mobile. 1. Email coordinate@zenlike.me asking to help set the meeting up. Thursday, August 8, 13
  12. 12. Zenlike in 16+ months: Zenlike provides smart assistance in the context where you need it most. After 16 months we’ll be going deep in meetings, broad in tasks, or specific to a functional area depending on what resonates most. Thursday, August 8, 13
  13. 13. timeline 2013 Q4 Chrome extension. (distribution channel for proactive assistance and other tasks) Dec 2010 Sold Attassa to Yousendit Feb 2013 Founded Zenlike 2010 2012 Mar 2012 Left Yousendit 2013 May 2013 Automate meeting invites (v1.0) Aug 2013 Automate meeting time / place coordination (v1.1) Thursday, August 8, 13 2015+ IFTTT for the enterprise. *post seed 2014 Q1 “Smarter” meetings and Assistance for other tasks within email flows. 2014 2015 2014 Q3 & Q4 Continued iteration on product and monetization with additional focus on growth engineering.
  14. 14. affordable competition Zenlike provides the full value of an admin assistant to everyone in a simple and affordable way. ht” g eli “d low friction high friction expensive Thursday, August 8, 13 Salaried Executive Assistant
  15. 15. team David Quail • • Product. Mobile developer, marketing • Mobile Product lead @ Zumodrive. Acquired by Motorola/Google Co-Founder @ Attassa (Productivity solutions for the knowledge worker). Acquired by Yousendit Tim Fletcher • • Thursday, August 8, 13 Product, web developer, UI, UX Cofounder @ Monogr.am
  16. 16. market We’re starting by solving meeting coordination and targeting startups to validate our product / revenue models. Once we do that we’ll scale vertically. Then horizontally. Bottom up analysis • 900K US Startups = 240M external 1:1 meetings per year. • Extracting $0.10 per meeting = $24M per year for US Startups (Millions) 0 7500 15000 22500 30000 Fortune 500 SMB Startups Meeting Coordination Other Admin tasks Top down analysis • 803K Executive/Admin Assistants X ~$50K / year = $40B • We’re not replacing EA’s but it’s an easy way to size how much people already pay for full administrative assistance. Source: http://www.bls.gov/oes/current/oes436011.htm Thursday, August 8, 13
  17. 17. what we’re looking for $1M seed round (18 months) for ... • Iterating product & monetization: 7% weekly growth. Prove customer acquisition cost << LTV. • Technology & Data acquisition: The more data we have, the better our algorithms get. We’re funding data collection to be in a position so we can easily leverage our technology. • Growing headcount: 4 engineers (including us), 2 AI Engineers, 1 marketing / community manager • Overhead: (office space, travel, marketing) Thursday, August 8, 13

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