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MyThings: the business model behind the world’s most valuable registry of belonging

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MyThings: the business model behind the world’s most valuable registry of belonging …

MyThings: the business model behind the world’s most valuable registry of belonging
Benny Arbel
MIT Enterprise Forum 13th Annual Event

Published in: Business, Technology

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  • * 07/16/96 * ##
  • Transcript

    • 1. The Business Model Behind the World’s Leading Registry of Belongings MIT Forum: December 2007 Benny Arbel, CEO [email_address]
    • 2. Agenda
      • Vision
      • Value Proposition
      • Why MyThings?
      • Unique Acquisition Model
      • Market Size, Trends
      • Business Models
      • Company Information
      • Demo
    • 3. MyThings Vision Insurance Law Enforcement Online Auctions Manufacturers Consumers Retailers The world’s most valued registry of belongings
    • 4. Value Proposition Customer Ownership Information Product Database UI & Services
      • Unique Acquisition Channel
      • Rich purchase behavior and ownership data
      • Independent platform with complete privacy and anonymity to Retailers/OEMs
      • Intuitive UI, connecting consumers to ALL relevant services and ALL valuable information…
      • … about things consumers value most
      • Comprehensive data base
      • Retailer, Brand, Product independent
      • Deep multi category data
    • 5. The MyThings Advantage
      • No-one captures detailed consumer ownership data (multi-items & multi-sources) at POS like MyThings
      • No-one has a Web 2.0 independent platform… non Retailer, OEM or Brand specific like MyThings
      • No-one… connects (a) deep consumer ownership data with (b) comprehensive product DB and (c) in-depth, value added aggregates services /content /community tools like MyThings
      Customer Purchase Behavior Product Database UI & Services Customer Purchase Behavior Product Database UI & Services
    • 6.
      • Why a portfolio?
        • Organize stats about purchases in a “Digital Shoebox”
        • Access to ALL important information & ALL relevant services
        • Track value of belongings, then sell – donate – recycle them more easily
        • Protection – secure online record and inventory for insurance purposes
      • Why online?
        • Find aggregated, useful content from other members, web-sites and businesses
        • Meet community members with similar interests
      • Why MyThings?
        • Secure, on-line, one-stop place to enjoy things you value most
    • 7. Relevant web content collected via Digg style social sharing all the Content, Community & Services related to my things are in one place
    • 8. MyThings Services Latest Downloads Digital Manual Find Accessories Repair Information Warranty Info Find Retailers Forums Tips and Tricks Market Value Estimator Insurance FAQs
      • Access ‘dynamic’ generated services
      • One stop place for the ‘right’
      • information about the ‘right’ product,
      • when you need it
      • Product FAQs to reduce partner's
      • customer service contacts
    • 9. MyThings ‘Hot Links’
      • Relevant content…
      • … ‘ dynamically’ generated
      • One stop place to find…
      • - expert opinions
      • - tips & tricks
      • - professional advise
      • - helpful hints
      • - practical instructions
      • - interesting stories
      • … and much more
    • 10. World Largest DB of Belongings… continued
      • Trace is the world’s largest database of stolen property from 22 countries and over 600 police agencies
      • Trace recently obtained approval to receive FBI’s 1.1 million records from 18,000 US police departments
        • The only private company to receive FBI’s US National data
      • Trace is the only viable solution available to: (a) reduce the loss of commercial inventory shrinkage, a $50 billion problem annually, and (b) stop exponential growth of stolen property moving through online auctions
    • 11. World Largest DB of Belongings… continued
      • Great acquisition tool
        • Universities are asking all new students to register their valuables on MyThings (endorsed, by the Deans office, local and campus police)
        • Crime prevention is Job #1 - Law enforcement agencies all over the country are asking people to proactively register belongings to prevent theft & increase chance of recovery
      • Part of monetization strategy
        • Trace shall become the “clear title” check for all on-line and off-line second hand transactions
        • Trace shall be leveraged in the corporate sector as a tool reduce the loss of commercial inventory shrinkage
        • Trace, is the worlds largest DB of stolen property (over 2mm records) is in conversations with MSN to be incorporated into MSN Search
    • 12. Consumer Journey
    • 13. Unique Acquisition Strategy
      • Simple, clear and compelling Value Proposition
      We acquire consumers at POS Fact: 15% of all consumers click on this link
    • 14. TigerDirect – Customer Journey
    • 15. TigerDirect – Order Confirmation Page
    • 16. TigerDirect – CoBranded Landing Page
    • 17. TigerDirect Ads on Consumer Portfolio Page
    • 18. Distribution Partnership Highlights
      • Integrated Channel partners include:
        • Tesco, ASDA, Currys, Casio, Halfords, Jessops, TigerDirect, LetsTalk and more...
        • Conversion rates outstrip industry norms at 34% (5% of top line transactions)
      • Pipeline partners include:
        • Dell, Gateway, Lenovo, Panasonic, SonyStyle, Toshiba, Target, Best Buy, Lowe’s, Wal-Mart, Allianz Cornhill, Nationwide Insurance and more…
    • 19. Size of the Prize: US & European Market 5% of Global eCommerce Transactions
      • # Participants in B2C eCommerce by 2011 = 450 Million
      • MyThings Share: 5% = 23 Million Members
      Source: Forrester Research
    • 20. Online communities built around user-generated content are attracting large audiences… Monthly unique US visitors (M) to leading social networking sites, Aug. 2006 – Aug. 2007 Social networking ad spending 2006 and 2010 ($bn) Monthly unique US visitors (M) to leading social networking sites CY2007E US advertising revenue spending by site ($M)
    • 21. … and business models are evolving to monetize these audiences
      • Display
      • Performance- based / lead generation
      • Video
      • Subscription-based
      • Transaction-based
      • Capitalize on growth in online advertising
      • Large audiences
      • Attractive demographics
      • Segmentable audiences
      • Benefit from network effects – “word of mouth” advertising
      • Potential for significant recurring revenue
      • “ Self-published” content
      • Can add all types of additional services to monetize audience / user base
      • Volatile
      • Reliance on heavy customer acquisition costs
      • Subject to “fads”
      • Customer acquisition costs
      • Generating primary traffic
      Advertising Listings Job listings Subscriptions Downloads How revenues are generated Strengths Challenges
    • 22. Online media consumption and ad spending are projected to continue their strong growth Global broadband households (M) Global online advertising market ($B) Total US ad spending ($B) & Internet penetration (%) Internet consumption is gaining at the expense of traditional media ($B)
    • 23. Growth is fueled by targeted, more-effective advertising formats US Internet advertising revenues ($B) by pricing model US Internet advertising revenues ($b) by segment US online rich media advertising ($b) & penetration (%) Online advertising formats supported by US Interactive publishers’ sites
    • 24. Our Business Model: Infomediary Consumers Marketers Retailers Manufacturers Art & Collectibles Consumers Online bookseller Online Communities Powerful method for connecting buyers and sellers
    • 25. Revenue Streams
      • Marketing Platform (Engagement/Participation Marketing)
        • advertising, messaging, behavioral targeting (retargeting)
      • Third party services
        • Insurance, warranties, accessories, item sales, price data, etc.
      • Trace
        • Product DB Check for all on-line and off-line second hand transactions
        • Commercial inventory shrinkage
        • Search
      • In-House Services
        • Subscriptions
        • Data mining
        • Market place
    • 26. Company Snapshot
      • Creating the most valuable global database of people’s belongings
      • Strong team and advisory board
      • 24 employees
        • Headquartered in California (product, marketing, sales and partnerships)
        • London (sales, partnerships)
        • Tel-Aviv (engineering)
      • Rapid growth in customer base and user engagement
      • Backed by Accel Partners and Carmel Ventures
      • Board: Kaj-Erik Relander, Harel Beit-On, Tom Byers, Eli Talmor, Udi Zaidman and Benny Arbel
    • 27. [email_address] Thank you
    • 28. Trace Demo #1 Manual search for second-hand dealers
    • 29. Search by Serial Number
    • 30. Search Results Page
    • 31. Item Detail Page
    • 32. Crime Details
    • 33. Third-Party Site
    • 34. PDF with Match
    • 35. Alert Police
    • 36. Text Search
    • 37. Text Search Results
    • 38. Item Detail Page
    • 39. Image Search
    • 40. Image Search Results
    • 41. Item Detail Page
    • 42. Trace Demo #2 Automated search in online auctions
    • 43. Online Auction Search
    • 44. On-line Auction Search Validating Item
    • 45. On-line Auction Search - Match Results: Serial Number
    • 46. On-line Auction Search Match Results: Image
    • 47. On-line Auction Search Actions
    • 48. On-line Auction Search