Experiments in Dining Slide Deck 9/25


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Chef-table dining experiences at the best restaurants in the world.

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Experiments in Dining Slide Deck 9/25

  1. 1.   .    ideas discovery food
  2. 2. restaurant partnerscurrentChef Nicholas Stefanneli Chef Peter Smith Chef Ed Witt Chef Kyle Smith Chef Fabio Trabocchiprospective
  3. 3. the productour curatedmarketplace andreservation systemconnects dinersto chef-drivenexperiences at thebest restaurantsin the world.
  4. 4. meet the teamjill richmond seth teicher scott herckisCEO & Co-Founder President & Co-Founder Chief Financial OfficerBusiness Product Finance
  5. 5. great chefs on the coterie “The Coterie gives me freedom to get creative in the kitchen and cook for guests who value the different places I can take my food. Since they’re not looking for - chef steffaneli, Coterie partner chef a discount, we’re excited to go above and beyond for them.”
  6. 6. restaurants Restaurants and Chefs feel: The Coterie Provides: Social media can be an effective A profitable marketing platform marketing tool but “daily deal” that cultivates a pipeline of HLV websites attract low value (high-lifetime value) consumers consumers, negatively impact who will pre-pay a premium for narrow profit margins, and dilute signature dining experiences. brand reputation.* *Merchants and Shoppers Sour on Daily Deal Sites, The New York Times
  7. 7. curious diner on the coterie “When I sit down at a Coterie- curated table, whether it’s in a more formal dining room or a busy new hotspot on the scene or maybe a hidden gem, I feel part of something bigger, more special, more authentic, more - Julie Piotrowski, Coterie Member enjoyable.”
  8. 8. diners Diners Feel: The Coterie: There are too many choices. Curates leading restaurants in Restaurant review, reservation cities across the country. Elevates and daily deal sites list every the personalities of Partner Chefs restaurant under the sun and can and emphasizes quality over neglect quality.* quantity. A desire to connect with chefs, Ensures exclusive access to access special meals and do signature dining experiences, something different when dining members only menus and service out.** typically reserved for VIPs and “Chef Tables.” *56% of Zagat surveyors rarely or never purchase group buying discounts **40% of Zagat surveyors are more likely to dine at a restaurant with a famous chef
  9. 9. business modelUser Partner Restaurant User Pays The Restaurant Coterie $106 + Receives $94 + Tax & Tip Tax & Tip Coterie generates 12% of the market value of the check. $12 in revenue on a $100 check before tax and tip.
  10. 10. market size: $11.3 billion $11.3 total market size billion who spend at least32% of consumers $948 annually onmake reservations premier dining. online - 2012 zagat survey there are 11.9m potential users 37.1m $100k+ Earners 2010 us census
  11. 11. marketing product first evangelists emerge Leverage digital marketing tools to cultivate community. cultivate community word-of-mouth spreads
  12. 12. a little love from the press “a culinary society The on start-up that offers Wa shingt Post exclusive dining opportunities to its members and a new degree of creative freedom to its partnering chefs.”
  13. 13. a little love from the press“Jill Richmond, who dreamed up popular pop-up restaurant/social experiment the No. 68 Project, has transformed theconcept into a full-fledged dining club.” “So say hello to The Coterie, “Members only jackets are “Now, [Richmond’s] taking a members-only club that definitely not cool, but the dinner party to the next recognizes, in the tradition members only dining clubs level with a culinary mem- of Churchill and Hitchens, are the epitome of hip.” bership society called The that the best ideas are often Coterie.” hatched over a few drinks and some inspired food.”
  14. 14. advisors amanda adam nicholas john nick anatole antico- wegner stefanelli eden wiseman faykin majkowski Executive VP, Strategy & Executive Chef at Principal at Principal at Roadside CEO & Co-Founder at Director at Arent Fox Corprate Development at Bibiana iPiphany Group, former Food Projects Co-Founder Tuanpin.com , PrincipalProfessor at Georgetown Exclusive Resorts Director at Zynga, in the DGS Delicatessen & The Consultant at BT Group, University IP Litigation Group at Coterie Business Development Wilson Sonsini Manager at Intel, eCom- merce Product Manager at AMEX
  15. 15. a gateway drug for foodiesFundraise:Initial Round (early 2012): $50kSeed Round: 20% of $300k committed Please contact: Jill Richmond @thecoteriedc jill@thecoteriedines.com 973.710.6073
  16. 16. appendix
  17. 17. why our customers like us Reservation Tools Restaurant Discovery Daily Deals Dining Experience Marketplaces
  18. 18. why our restaurants like us C u s t r o m e r LT V High customer acquisition cost Low
  19. 19. customer segments Launch The Urban Sophisticate The Foodie Scale The Business Diner Aspirational Eater Maturity The Food Network Consumer The Food-Conscious Traveler
  20. 20. marketing partnershipscurrent:prospective: