Leash me final
 

Leash me final

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    Leash me final Leash me final Presentation Transcript

    • LeashMeAVIN ARUMUGAM, JIM FARRIS, MARCO GOTTINI, RAVI GUPTA
    • LeashMeInitial IdeaHuge Opportunity  50M NFC handsets in 2011 @ $30/handset = $1.5B  400M NFC handsets in 2013 @ $30/handset = $12B
    • LeashMe Team MembersName Background Expertise RoleAvin Arumugam Payments Product/Biz Dev Co-FounderJim Farris Real Estate Finance/Strategy Co-FounderMarco Gottini Consulting Program Mgmt Co-FounderRavi Gupta R&D Agile Product Dev Co-Founder (SW/Biotech)
    • Business Model Canvas Version 1 Self service (Packaged Product dev (HW, SW) Convenience/Usabili sales) Manufacturing ty (Easy to use, partner Production (Scale, never forget) Outsource) Sales/Mktg (Brand, Prod. awareness) Cost reductionLicensing Partner (Replacement cost, (IP) Time saving) Direct (Web Sales, DTV) Indirect (Partner Mass Market smart Stores/Wholesaler) phone owners (e.g., Keys, Wallets, Financial (Funding) Passports) R&D Resources (Design, Dev, IP) Support R&D (Expand with multi-products) Asset sale (Device, app) Marketing and Sales COGS (Economies of scale)
    • (40 people) Here’s what we did…Got out of the building and talked to customersInterviewed 40 people in person –eyeball toeyeball
    • Here’s what we found (reality)…Learned about our customers  Stats on people who lose (35% of tot) and misplace (83% of tot) stuff; 88% would buy  Pets and kids -> different problem; different customer segment  Opportunity in life-saving situations  3 customer segments:  Everyday users  Avid users Teaching Team Feedback: Oren: “Did you say Kids/pets? Really! I think its a  Irreplaceable stuff different market/model.”
    • Business Model Canvas Version 2 Self service (Packaged Product dev (HW, SW) Convenience/Usabili sales) Manufacturing ty (Easy to use, Mass Market smart partner Production (Scale, never forget) Personal phone owners (e.g., Outsource) Keys, Wallets, assistance/automated Passports) Cost reduction services (if adopting a Sales/Mktg (Brand, subscription model) Prod. awareness) (Replacement cost, People who lose stuffLicensing Partner Time savingAvoid or are concerned (IP) Support SW cost by not losing about losing stuff and capabilities for device items) would like to prevent and tags AHA! that Time Saving Direct (Web Sales, DTV) People who misplace (Quickly find stuff and need help to misplaced items) find it Financial (Funding) Indirect (Partner Stores/Wholesaler) R&D Resources Corporations that (Design, Dev, IP) enforce a solution to Sales force to target corporations help employee not Support lose company items R&D (Expand with multi-products) Asset sale (Device, app) Marketing and Sales COGS (Economies of scale) Subscription service ($X/month for basic service; pay $Y/month to add more devices) Customer Support
    • (38 people) Here’s what we did… Created mockups Interviewed 20 more people in person using mockups and tags Investigated competition  Bought Click ‘n dig  Looked at Cobra, FOFA, EZ-FIND, BiKN, ZOMM Interviewed people in corporate world  IT Manager & IT Security at Life Technologies  Planning manager at BP refinery Investigated sales channels Talked to NFC technology advisors (phones/tags)  Tech Lead for RFID implementation at Life Technologies  CEO of VivoTech  NFC team at Paypal (lead/astronomer and all other 5 members)  VP of biz dev at Inside Contactless Started development of the app Created two surveys
    • Here’s what we found (reality)… Customers  Avid users V  Everyday users V  Corporations not early adopters X Channels  X Mass retailers not for early stage markets  In-person Kiosks at Sport Clubs/Communities  3rd party Website/advertising access LESSON LEARNED  Mockups/wireframes are key for interviews  LONG surveys don’t work
    • Business Model Canvas Version 3 Self service (Packaged Product dev (HW, SW) Convenience/ sales) Everyday users: Manufacturing Usability (Easy to Personal People who lose stuff partner Production (Scale, assistance/automated or are concerned use, never forget) Outsource) services (subscription) about losing stuff and would like to prevent Sales/Mktg (Brand, Cost reduction that Prod. awareness) (Avoid cost by not Everyday users:Licensing Partner losing items) Support SW People who misplace (IP) Direct (Own Website, DTV) capabilities for device stuff and need help to and tags ONLY WHEN find it Time Saving MAINSTREAM Indirect (Quickly find (Partner Avid users: corporate Specialty Stores/Wholesaler) employees; company misplaced items)Providers of new enforces solution to •ONLY WHEN high tech sport Financial MAINSTREAM Sales force ensure people have (Funding) to target corporations their equip with them equipment In person or kiosks at- Avid users: sportmen / R&D Resources Sport Clubs/ travellers / hobbists (Design, Dev, IP) Communities/ Indirect - specialized stores Corporations Support (sport/luggage stores; travel agencies) R&D (Expand with multi-products) Asset sale (Device, app) Marketing and Sales COGS (Economies of scale) Subscription service ($X/month for basic service; pay $Y/month to add more devices) Customer Support
    • (21 people) Here’s what we did… Talked to advisors  Technology industry experts on prototype functionalities  Technical architect at NXP  Biz dev manager and biz dev director at NXP  Head of Mobility at Software Services  HTC mobile platform expert  Talked to insurance providers  Owner of PVI Insurance  Franchise owner of State Farm  Commercial broker at Farmers  Insurance actuary at Liberty Mutual  Talked to apparel manufacturers  VP of Operations at Aviator Nation  Ex Director of Operations at Prada  Head of merchandising at Nike
    • (70 people) Here’s what we did… (cont.) Created  Integrated financial statements (5 yrs and 1st yr month-to-month)  BoM  Payment Flows  Pricing Model Surveys (70 responses) Developed Prototype (iPhone and Android)
    • Revenue and cost model
    • Financial projections and valuation
    • Here’s what we found (reality)… Insurance providers – not viable channel X Apparel Manufacturers – Alternate channel possibility LESSON LEARNED  Surveys require lots of design time and iterations to be effective
    • Result of surveys Features Support # of tags Price 0 1 0.2 20.8 3 tags 5 tags 10 tags0.6 -0.2 1.50.4 0.1 10.2 0 -0.4 0.5 0 0 Features Track Checklist Locate Online Phone Live in FAQ -0.6 -0.1 live shop -0.8 -0.2
    • Business Model Canvas Version 4 Self service (Packaged Product dev (HW, SW) Convenience/ sales) Everyday users: Manufacturing Usability (Easy to Personal People who lose stuff partner Production assistance/automated or are concerned use, never forget) (Scale, Outsource) services (subscription) about losing stuff and would like to prevent Sales/Mktg Cost reduction that (Brand, Prod. (Avoid cost by not Everyday users:Licensing Partner awareness) Support SW losing items) Direct (Own Website, DTV) People who misplace (IP) stuff and need help to capabilities for device Indirect (3rd Party and tags Retailers) find it Time Saving (Quickly find ONLY WHEN Avid users: corporate Specialty MAINSTREAM Indirect employees; company misplaced items) (Partner Stores/Providers of new Wholesaler) enforces solution to high tech sport Financial Sales force to target ensure people have (Funding) corporations their equip with them equipment In person or kiosks at- R&D Resources Sport Clubs/Communities (Design, Dev, IP) Avid users: sportmen / Indirect - specialized stores (sport/luggage stores; travellers / hobbists Support travel agencies) Apparel Manufacturers R&D (Expand with multi-products) Asset sale (Application & Tags) Marketing and Sales Subscription service ($X/month for basic COGS (Economies of scale) service; pay $Y/month to add more devices) Customer Support Application Sales (Item Vendor pays for the tag; eg wallet, bag, shades, watch)
    • Possible pivot (Monetization of LeashMe Technology) Replacement of lost items  being the first notified party of lost item of importance through LeashMe technology Register items with LeashMe including picture of the item Prevent item loss thanks to LeashMe If item is lost facilitate replacement items of same/similar/better quality at lowest possible price via Amazon, eBay, etc Monetize by revenue share if item is purchased
    • Back of the envelope calculation1,000,000 items (tags) 10,000,000 items (tags) 50,000,000 items (tags) 20% items lost/year 30% items lost/year 35% items lost/year $50/item $100/item $150/item TOT value: TOT value:TOT value: $10,000,000 $300,000,000 $2,625,000,000 2% replacement 3% replacement 3.5% replacement commission commission commission TOT revenue: TOT revenue: TOT revenue: $200,000 $9,000,000 $91,875,000
    • Financial analysis
    • Possible pivot Cont. (Promotion/Distribution of LeashMe Tags) Partnership with CC companies to help keep track of high value items Discussed with PM @ AMEX and Cap One about complementing insurance program with LeashMe  Won’t work for all top claim items (needs tag re-engineering)  Need a collaborative financial analysis to prove feasibility AMEX moving into mobile apps with SERVE so possible good timing
    • Evolution of LeashMe Business Model Canvas
    • Business Model Canvas Version 1 Self service (Packaged Product dev (HW, SW) Convenience/Usabili sales) Manufacturing ty (Easy to partner Production use, never forget) (Scale, Outsource) Sales/Mktg (Brand, Prod. Cost reductionLicensing Partner awareness) (Replacement (IP) cost, Time saving) Direct (Web Sales, DTV) Indirect (Partner Mass Market smart Stores/Wholesaler) phone owners (e.g., Keys, Wallets, Pa Financial (Funding) ssports) R&D Resources (Design, Dev, IP) Support R&D (Expand with multi-products) Asset sale (Device, app) Marketing and Sales COGS (Economies of scale)
    • Business Model Canvas Version 2 Self service (Packaged Product dev (HW, SW) Convenience/Usabili sales) Manufacturing ty (Easy to Mass Market smart partner Production use, never forget) Personal phone owners (Scale, Outsource) (e.g., Keys, Wallets, assistance/automated Passports) Sales/Mktg Cost reduction services (if adopting a (Brand, Prod. (Replacement subscription model) People who lose stuffLicensing Partner awareness) cost, Time or are concerned (IP) Support SW savingAvoid cost by about losing stuff and capabilities for device not losing items) would like to prevent and tags that Time Saving Direct (Web Sales, DTV) People who misplace (Quickly find stuff and need help to misplaced items) find it Financial (Funding) Indirect (Partner Stores/Wholesaler) R&D Resources Corporations that (Design, Dev, IP) enforce a solution to Sales force to target corporations help employee not Support lose company items R&D (Expand with multi-products) Asset sale (Device, app) Marketing and Sales COGS (Economies of scale) Subscription service ($X/month for basic service; pay $Y/month to add more devices) Customer Support
    • Business Model Canvas Version 3 Self service (Packaged Product dev (HW, SW) Convenience/ sales) Everyday users: Manufacturing Usability (Easy to Personal People who lose stuff partner Production assistance/automated or are concerned use, never forget) (Scale, Outsource) services (subscription) about losing stuff and would like to prevent Sales/Mktg Cost reduction that (Brand, Prod. (Avoid cost by not Everyday users:Licensing Partner awareness) Support SW losing items) People who misplace (IP) Direct (Own Website, DTV) capabilities for device stuff and need help to and tags ONLY WHEN find it Time Saving MAINSTREAM Indirect (Quickly find (Partner Avid users: corporate Specialty Stores/Wholesaler) employees; company misplaced items)Providers of new enforces solution to •ONLY WHEN high tech sport Financial MAINSTREAM Sales force ensure people have (Funding) to target corporations their equip with them equipment In person or kiosks at- Avid users: sportmen / R&D Resources Sport Clubs/ travellers / hobbists (Design, Dev, IP) Communities/ Indirect - specialized stores Corporations Support (sport/luggage stores; travel agencies) R&D (Expand with multi-products) Asset sale (Device, app) Marketing and Sales COGS (Economies of scale) Subscription service ($X/month for basic service; pay $Y/month to add more devices) Customer Support
    • Business Model Canvas Version 4 Self service (Packaged Product dev (HW, SW) Convenience/ sales) Everyday users: Manufacturing Usability (Easy to Personal People who lose stuff partner Production assistance/automated or are concerned use, never forget) (Scale, Outsource) services (subscription) about losing stuff and would like to prevent Sales/Mktg Cost reduction that (Brand, Prod. (Avoid cost by not Everyday users:Licensing Partner awareness) Support SW losing items) Direct (Own Website, DTV) People who misplace (IP) stuff and need help to capabilities for device Indirect (3rd Party and tags Retailers) find it Time Saving (Quickly find ONLY WHEN Avid users: corporate Specialty MAINSTREAM Indirect employees; company misplaced items) (Partner Stores/Providers of new Wholesaler) enforces solution to high tech sport Financial Sales force to target ensure people have (Funding) corporations their equip with them equipment In person or kiosks at- R&D Resources Sport Clubs/Communities (Design, Dev, IP) Avid users: sportmen / Indirect - specialized stores (sport/luggage stores; travellers / hobbists Support travel agencies) Apparel Manufacturers R&D (Expand with multi-products) Asset sale (Application & Tags) Marketing and Sales Subscription service ($X/month for basic COGS (Economies of scale) service; pay $Y/month to add more devices) Customer Support Application Sales (Item Vendor pays for the tag; eg wallet, bag, shades, watch)
    • LeashMe Thank you to the teachingteam, mentors, TA, and allthe advisors who helped us during our journey!