Auto bid final presentation

Chase Corbridge, Mike Wille, Jordan Furniss, Taylor Moss1

Pain Customers Interviewed:2

Solution3

Tech comes to home Business model canvas only to diagnose construction problem

Day Month Year No. Who are our Key Partners? What Key Activities do our Value Propositions require? What value do we deliver to the customer? What type of relationship does each of our Customer For whom are we creating value? Who are our key suppliers? Our Distribution Channels? Which one of our customer’s problems are we helping to solve? Segments expect us to establish and maintain with them? Who are our most important customers? Which Key Resources are we acquiring from partners? Customer Relationships? What bundles of products and services are we offering to each Customer Segment? Which ones have we established? Which Key Activities do partners perform? Revenue streams? Which customer needs are we satisfying? How are they integrated with the rest of our business model? How costly are they? What Key Resources do our Value Propositions require? Through which Channels do our Customer Segments Our Distribution Channels? Customer Relationships? want to be reached? Revenue Streams? How are we reaching them now? How are our Channels integrated? Which ones work best? Which ones are most cost-efficient? How are we integrating them with customer routines? What are the most important costs inherent in our business model? For what value are our customers really willing to pay? Which Key Resources are most expensive? For what do they currently pay? Which Key Activities are most expensive? How are they currently paying? How would they prefer to pay? How much does each Revenue Stream contribute to overall revenues? This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License. To view a copy of this license, visit http://creativecommons.org/licenses/by-sa/3.0/ or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA.5

Tech comes to home Business model canvas only to diagnose Not profitable construction problem

Pain Customers Interviewed:7

Solution8

Not financially Tech comes to home Business model canvas feasible with cost only to diagnose construction structure / revenue problem stream Diagnose auto body Too difficult to repairs with picture Visit 10 local auto accurately assess uploaded to web for body shops damage from a photo bid Interviewed:9

Re-Interviewed: Shadowed: 15-90 3-4minutes per estimate every day10

Pain11

Interviews Confirming Pain :12

Solution13

Shops Interviewed: Our Customer14

furnissj Jordan Furniss Customer Amount From Date furnissj@autobid.com Join AutoBid Plus Smith, John $895.85 Geico 7 Nov 2011 Account seTngs Sign out Richards, John $5,336.71 State Farm 1 Nov 2011 Petersen, Sco? $2,986.28 All State 26 Oct 2011 Wille, Mike $7,542.99 Geico 25 Oct 2011 Liddle, Steve $627.66 Bear River 25 Oct 2011 Corbridge, Chase $1,294.45 State Farm 22 Oct 2011 Brown, Stephanie $519.07 Progressive 15 Oct 2011

furnissj Customer Amount From Date Smith, John $895.85 Geico 7 Nov 2011 Original Preliminary EsWmate Vehicle: 1999 SUBA Legacy L 4D SED 4-‐2.2L-‐FI Black Customer: SMITH, JOHN Line OperaWon DescripWon Qty Extended Labor Paint Price $ 1  REAR BUMPER 1.0 2 R&I bumper 1.0 3 Bumper 1.0 2.4 Category Basis Rate Cost Body Labor 2.0 hrs @ $42/hr 84.00 Paint 8.0 hrs @ $42/hr 302.44 Grand Total 386.44 Import To Audatex

furnissj ImporWng… EsOmate Successfully Imported! View in Audatex

Tech comes to home Not financially to diagnose Business model canvas feasible with cost maintenance need/ construction structure / revenue collision repair stream Diagnose auto body Too many variables repairs with picture Visit 10 local auto that bids can’t be uploaded to web for body shops given from a photo bid SaaS that can convert MVP solves a huge Shadowed body shops between all major headache for the and created a MVP estimating software shops!19

Time spent by employees re-entering bids Yearly $540,000,000 300 hours/year shop average 60,000 US body repair shops20

8 Commitments 3 States This is wonderful! –Owner, Sergio Martins $2.5 M When can we start using this? –Owner, James Nichols $2.5 M This is a serious thing for the auto industry. –Owner, Ray Banks21 $1 M

Shop Owners Interviewed: States:22

256 shops 85 shops 315 shops 116 shops23

Day Month Year No. Who are our Key Partners? What Key Activities do our Value Propositions require? What value do we deliver to the customer? What type of relationship does each of our Customer For whom are we creating value? Who are our key suppliers? Our Distribution Channels? Which one of our customer’s problems are we helping to solve? Segments expect us to establish and maintain with them? Who are our most important customers? *Signing up Personal Which Key Resources are we acquiring from partners? Customer Relationships? What bundles of products and services are we offering to each Customer Segment? Which ones have we established? Which Key Activities do partners perform? Revenue streams? Which customer needs are we satisfying? How are they integrated with the rest of our business model? How costly are they? clients Time account *Developing saving reps Auto body APU shops lean SaaS Solutions Eliminate human What Key Resources do our Value Propositions require? Our Distribution Channels? Customer Relationships? error Through which Channels do our Customer Segments want to be reached? Estimating *Sales Revenue Streams? How are we reaching them now? How are our Channels integrated? Software Which ones work best? Which ones are most cost-efficient? Software: groups How are we integrating them with customer routines? platform *Audatex Increase *CCC Productivity *Direct *Mitchell sales What are the most important costs inherent in our business model? Hosting and For what value are our customers really willing to pay? Which Key Resources are most expensive? Which Key Activities are most expensive? For what do they currently pay? How are they currently paying? Monthly Pay per Development How would they prefer to pay? How much does each Revenue Stream contribute to overall revenues? recurring use fee This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License. To view a copy of this license, visit http://creativecommons.org/licenses/by-sa/3.0/ or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA.24

Worldwide $1.5 Billion / year $199/month * 625,000 shops TAM North America, Europe, China SAM $816 Million / year $199/month * 340,000 shops Target Market Largest 10% $81 Million / year $199/month * 34,000 shops25

Lessons Learned Build an MVP asap Shadow to Learn Fail Fast Flaws cannot be Hidden in the Canvas26

Chase Corbridge – CEO Advisors •  Security One Scott Petersen-Industry Advisor •  Bulls Eye Pest Control Robert Wille- Technical Advisor •  Incite Marketing James Nichols- Industry Expert Mike Wille - CTO •  Bamboo Forever Peter Hamilton – Programmer RoR •  Raging Bull Marketing •  Platinum Protection Jordan Furniss - COO •  Vivint •  Façade Clothing •  Dowser Taylor Moss – VP of Sales / front end web developer •  Klymit •  TruConnect Mobile •  Oak Strategy Partners27

Chase Corbridge, Mike Wille, Jordan Furniss, Taylor Moss28

“The Big 3” There are presently five companies in the United States that sell Estimatics: CCC, Mitchell, Audatex, Web-Est LLC (“Web- Est”), and Applied Computer Resources, but the three major competitors in the Estimatics market today are CCC, Audatex and Mitchell, which collectively hold the lion’s share of the market — approximately 99% — thus earning the nickname, the “Big Three.” From the FTC’s documentation of their case against CCC. http://www.ftc.gov/os/caselist/ 0810155/090309cccmitchellpublicopinion.pdf29

$90,000,000 $80,000,000 $70,000,000 $60,000,000 $50,000,000 Sales $40,000,000 COGS $30,000,000 Gross Profit $20,000,000 $10,000,000 $0 2012 2013 2014 2015 2016 $90,000,000 $80,000,000 $70,000,000 $60,000,000 $50,000,000 Sales $40,000,000 Gross Profit $30,000,000 Net Income $20,000,000 $10,000,000 $0 2012 2013 2014 2015 201630

The CIECA suite of exchange standards/messages are based on XML, eXtensible Markup Language. The strength of XML is that it provides a generic way to process data on the internet and an efficient way to transfer data between applications and business partners. CIECA refers to these standards/messages as the BMS (Business Message Specification). In the Collision Repair Industry, CIECA BMS/XML provides a foundation for real-time exchange of data between repairers, insurers, car rental companies, parts & materials providers, and more. Implementing the BMS standards within the collision repair industry results in more efficiencies, consistencies, cost savings, and vehicle owner satisfaction - saving the industry time, effort, money, and customers. The BMS/XML includes messages for transactions relative to Vehicle Damage, Glass, Rental, Salvage Assignments, Estimates, Salvage Dispositions, Attachments (images), Parts and Materials Procurement, Repair Status, Authorizations, Invoicing & Statements, Rental Locations, and Subrogation. Twice annually CIECA produces a Release Package which includes the BMS, the XML schema, and the Code Lists. This provides developers and business partners with predictable systems development cycles http://www.youtube.com/watch?feature=player_embedded&v=PwL3FnRBHtQ31

SEMA Show takes place October 30 - November 2, 2012 at the Las Vegas Convention Center. The SEMA Show is the premier automotive specialty products trade event in the world. It draws the industry’s brightest minds and hottest products to one place, the Las Vegas Convention Center. In addition, the SEMA Show provides attendees with educational seminars, product demonstrations, special events, networking opportunities and more. SEMA Show 2011 drew more than 60,000 domestic and international buyers. The displays are segmented into 12 sections, and a New Products Showcase featured nearly 1,500 newly introduced parts, tools and components. In addition, the SEMA Show provides attendees with educational seminars, product demonstrations, special events, networking opportunities and more…32

APU Solutions is the technology leader for the insurance, collision-repair and alternative parts-supply industries. APUs web-based network provides nationwide parts availability, quality, pricing and procurement, plus tools to track and manage Alternative Parts Utilization. • PartsNetwork • SubroNetwork • TotalLossNetwork • DataNetwork33

Employee work time spent on entering estimates * 50 min/bid * 30 bids/month = 25 hours/month * 25 hours * 12 months/year = 300 hours/year * $30/hour * 300 hours = $9,000 year per shop * $9,000/shop * 60,000 shops = $540,000,00034

Specifications: Estimating industry just beginning to embrace SaaS estimating platforms. Wide open spaces for SaaS solutions that improve the functionality of these estimating platforms. Peter Hamilton – Back-end engineer 140 hours to working MVP 1-2 months Ruby on Rails development of the XML code35

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