Hi, I’m Janeece and I’m the founder & CEO of Bound Round. Imagine for a minute that Lonely Planet married Trip Advisor and they had a child. At about 8yrs old, that child would know that the world was their oyster, they’d be a digital native, they’d be very interactive and they’d be know called Bound Round
So would Bound Round be a cool kid (kids of like his parents), would he be one of the nerds or would he be one of those kids who’s 8 going on 28 and much happier at the adults table? We think Bound Round’s a cool kid, firstly because he’s going to be useful to lots of people See 31% of global leisure travel is family travel. In the US that’s over 350million family trips a year. Locally, 11% of Australia’s inbound tourists are families, (which if we’re crude and talk money, that’s about a $2.5b market). Secondly, other kids love Bound Round because he’s fun (and sometimes funny). He’s full of stories, photos, videos and games and he knows loads of secrets other kids have shared with him. So you know how once they hit 9 or 10, most kids want to be involved in family decisions. Well Bound Round helps them do that, (and takes some of the holiday planning pressure of the parents) Yep, that confirms Bound Round’s status as a cool kid (and a hit with the mum’s too)!
The market for traditional guide books has shrunk 40% in the past 5 years. In 2012 38% of adults did their travel research on a mobile device, with Facebook the #1 travel research social media site and Trip Advisor the #1 travel advice site with 6.7m views per month. There’s also an established market of travel blogs pitched at parents travelling with children. None of these options work for Bound Round users – those 8 to 12 year olds who want to know what’s going to be fun in London, or Fiji or in the Blue Mountains. We’re creating a new marketRobi Stanton – VP & GM Turner BroadcastingKeith Bellows – Editor in Chief, National Geographic Traveler (father of 3)
Bound Round users are old enough to want to have a say and quite not old enough to be a difficult teenager. They can still eat from the kids menu, but some of them find that very condescending. They’re digital natives and they want to tell people what they’re doing, but they’re conscious of online privacy and they’re not old enough to be on adult social networks.Bound Round parents are less stressed and have more time to engage in their holiday because their kids have done some of the research for them. ‘For them Bound Round is guilt free tablet time, and when the child is finished they can see a list of places their kids have flagged they want to visit and access logistical information and discounts. Travel businesses like SeaWorld and the Hard Rock Café love Bound Round because it harnesses pester power. Kids who have visited their attraction share their stories on Bound Round, which other kids then read, and flag so it gets included in the family planning discussion.52% of family holiday visitors are repeat visitors to AustraliaTripAdvisor #1 in mobile (6.7m) and #2 from web (21.2m) behind Expedia (23m) Family travel is 11% Australian in-bound market, contributing $2.5bn 48% globally use tablet or smartphone for planning 30% value advice from their social networks $2trillion globally Photo & video trend for engagement Trip Advisor biggest mobile player & #2 web with 28m visitors Most mobile purchase decisions made in the evening
We launched the iPad proof of concept covering Sydney just before Christmas and the iPhone version of the same content in March. Feedback from the kids is brutal and our first kids board meeting in February gave us a lot to work on as well as reassurance that Bound Round is something that the kids want to use. We’ve got good support from the travel industry support – in particularly Tourism Australia, Tourism QLD and a number of US tourism providers and we’ve got over 50 travel businesses across Sydney, Gold Coast and Fiji as customers. In our first industry review we got 10/10, and we’ve had coverage in the Travel Agents industry magazine. And Thomas Cook Travel Magazine in the UK wrote us up as a must have travel app. We’re now refining our platform to reduce the content publishing timeframe from 3 weeks to 24hrs so we can capitalise on our traction and scale more quickly.
I’ve got a rockstar team who loves to travel, love kids (and all except me have kids). Chris Robertson is a former NASA engineer and IT director from Deutche & Citi Banks joined as co-founder and CTO in March. Deb Dickson-Smith and her self decsibed Brady bunch family have been part of Bound Round since the idea started forming. She has over 20 years experience in publishing including Australian Geographic, kids' magazine, she blogs at Ninemsn. wego.com and Holidaygoddess.com. Ken Lipschitz is CEO of Your Portal, former Director of David Jones. He’s also been the CFO in my other businesses.We’re supported by an incredible team of interns, kids and parents who have been busy creating Bound Round content for the new locations that will go live on the new platform in August.
So where to from here? Sell, sell, sell. Test, tweak, re-test. Using our new platform we’ll be much more agile and able to respond to user behaviour, update content and scale the business to make the most of our first mover advantage. By 2018 we’ll still be the #1 global kids product and ready to be acquired by an ‘adult travel business’ or another content provider. Our revenue model includes annual subscriptions for travel providers, a one-off paid app download for users as well as white labelling the software into education and events (where we’ve already had a couple of enquiries). By 2018 we’ll be generating $41m with $2.2m profit per month and we’ll have funded 10 libraries for kids in need through our partnership with Room to Read.
So come join the cool kids and follow Bound Round!
Bound round sydstart_pitch
Lonely planet crossed with Trip Advisor for kidsJaneece Keller, Founder & CEOwww.boundround.com
Problem Opportunity• Adults do all the planning• Stuff! Lots of stuff!• Family stress• Involve kids in travel planning• Make it fun and educational• Utilize what’s already being taken
Creating a new marketTravel information Digital storytellingOnline kids communities
Users, Decision Makers & Customers• Listen to what I want!• Digital natives• Connect me!• Give me more time• Guilt free screen time• Best possible experience• Harness pester power• Engage directly with kids• Increase wallet share
22nd Dec 2012 Proof of Concept: Traction• 10 Kids Board Members• 55 Local kids in 4 cities• 800 downloads•74% repeat usage• 4 Family famils• 1 x premium customer• 50+ venues in 3 cities• 8 RTOs• TourismAustralia, TQ, Tourism Fijisupport• 10/10 from eTravel Blackboard• International press•TravelTalk•Room to Read
What does 2018 look like?• #1 Global kids travel product– >20million users– Multi-lingual content– >12,000 venues– 10 Room to Read libraries built• Profitable white label channel– Education– Events• +$40m revenue– Ready for trade sale