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Cookening - share your culinary love
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Cookening - share your culinary love

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International Entrepreneurship Course at Boston University School of Management. Kobi Magnezi

International Entrepreneurship Course at Boston University School of Management. Kobi Magnezi

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    Cookening - share your culinary love Cookening - share your culinary love Presentation Transcript

    • Cookening CONNECTING PEOPLE AND CULTURES THROUGH FOOD! ATTEND OR HOST HOME COOKED MEALS. SI856 Fall 2013 Adriane Musgrave Trang Nguyen Kobi Magnezi
    • French Startup
    • Inspiration & Market Niche “The moment we spend eating a meal with others is, by essence, a moment of sharing. Cookening wants to amplify that moment by creating a new moment of sharing around gastronomy between foreigners. With a jeopardized economy, but also social isolation that has increased in the last few years, people want to go back to simple and authentic experiences, to conviviality. Sharing a meal in a warm atmosphere with foreigners meets exactly this need.” – Founder Cédric Giorgi
    • Concept & Team
    • How does it work?
    • Competitors Israel U.S. – Washington, D.C. Spain U.S. - Utah UK (coming soon) France (beta) UK Italy
    • Business Model: Financial  Capital  The startup is self-funded  Share capital of 10,000 Euros  Cookening is a distributor for the Leetchi Corp. S.A. company, a ‘société anonyme’ under the law of Luxembourg with a share capital of 500,000 Euros  Launch Cost  Startup has been in private alpha for six months (Dec 2012)  Since May 2013 opened to the public with 1500 registered users signed up so far
    • Business Model: Revenue Hosts create profile Profile is manually vetted Non-locals choose host/table booking and make contact Payment is made, handled by Cookening Host receives payment the day after a successful meal Company takes a 20% fee
    • Business Model: Partners  Online payment platform  1.8% + € 0.18 per cash-in transaction in € (Visa/MasterCard/CarteBleue)  No fees for cash-out transactions  No fees for refunds  No chargeback fees  No set-up fees  No minimum amount  A grassroots organization that supports the sharing economy movement.  By sharing what we already have everyone benefits.  The sharing economy is helping us  This is how the 21st century economy should work
    • Road Map  Potential to attract new customers  Human connection  Fun with monetary gain  Network effects  International expansion  Food culture and travelers  Spain, Italy, South America, India, etc.
    • Challenges  Very niche market = restricted revenue potential  Competition  Acquisitions  Physical office presence in key markets  Scams and strangers with bad intentions  Guarantee program  Food Safety and Regulations
    • The Sharing Economy We have our own idea!
    • Thank you!