METANOTES.COM: Executive Overview Srini Kumar * 7/3/07 [email_address]   828.712.7666 CONFIDENTIAL : Please do not circula...
Summary Of This Presentation <ul><li>MetaNotes: Brand Promise + Features </li></ul><ul><li>Our Three-Phase Revenue Model <...
Q: What Is MetaNotes?  A: Infinite Online Post-It Notes
OUR BRAND PROMISE: “TAKE BETTER NOTES WITH METANOTES” <ul><li>MetaNotes are an extension of your memory, like “external st...
Features Of MetaNotes <ul><li>Optimized to “extend the use” of your notes: memory, ease of entry & arrangement, finding te...
Guy Kawasaki on AdSense <ul><li>“ If any company comes to Garage and says that their business model is to generate a lot o...
Phase One: Virtual Goods, Teaser Sites, Featureboosts, AdBrite <ul><li>HotOrNot.com:  40% of their revenue = “virtual flow...
Phase Two: Subscription Revenue Model <ul><li>Upgrade Pricing: Depends on price elasticity  </li></ul><ul><ul><li>$5/month...
Phase Three: MARKETPLACE.METANOTES.COM <ul><li>Become the market leader in the next form of advertising:  PAY PER ACTION <...
Key Business Model Metrics <ul><li>total revenue  = featureboost revenue + CPC revenue + PPA revenue + affiliate revenue +...
The D-Day Analogy <ul><li>The perils of the chasm: Friendster/Myspace </li></ul><ul><li>MetaNotes must  win entry to the m...
The Web 2.0 Chasm <ul><li>Web 2.0:  Browser, Server, Application, Business Model, Brand, User, Ecosystem and Organizationa...
What is the MetaNotes market? <ul><li>A set of potential users who have a need or desire to take and share superior “notes...
How MetaNotes Will Market To Reach Across The Chasm <ul><li>Focus our marketing investment; spend $ on students </li></ul>...
MetaNotes Promotion Plan <ul><li>Industry events: DefCon, SXSW-i, Web 2.0, eBay Live; Warped Tour et al. for students </li...
Who Are Early Adopters Of New Note-Taking And Web 2.0 Apps? <ul><li>Driven By A Dream </li></ul><ul><ul><li>They match the...
Who Are The Early Majority for Note-Taking And Web 2.0 Apps? <ul><li>They care about: </li></ul><ul><ul><li>The brand and ...
The Advantages Of Early Mainstream Acceptance <ul><li>Tend to be very loyal once they’ve tried a service and found it sati...
Be The Market Leader Faster <ul><li>We Need The Largest Market Share  WITHIN OUR TARGETED NICHES </li></ul><ul><ul><li>We ...
The MetaNotes Team <ul><li>Srini Kumar* – Founder, CEO </li></ul><ul><li>John Beppu – Founder, CTO (Geni.com) </li></ul><u...
UPCOMING MILESTONES <ul><li>Early July: Meet in LA to finish coding the beta; user accounts, ads, groupware </li></ul><ul>...
THANK YOU
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Metanotes Executive Overview

  1. 1. METANOTES.COM: Executive Overview Srini Kumar * 7/3/07 [email_address] 828.712.7666 CONFIDENTIAL : Please do not circulate without prior approval. Thank you.
  2. 2. Summary Of This Presentation <ul><li>MetaNotes: Brand Promise + Features </li></ul><ul><li>Our Three-Phase Revenue Model </li></ul><ul><li>Crossing The Web 2.0 Chasm </li></ul><ul><li>Zero In On The Student Segment </li></ul><ul><li>Market Leadership </li></ul><ul><li>Our Team </li></ul><ul><li>Milestones </li></ul>
  3. 3. Q: What Is MetaNotes? A: Infinite Online Post-It Notes
  4. 4. OUR BRAND PROMISE: “TAKE BETTER NOTES WITH METANOTES” <ul><li>MetaNotes are an extension of your memory, like “external storage” </li></ul><ul><li>MetaNotes are optimized for brainstorming and outlining </li></ul><ul><li>MetaNotes can be shared and groups can digest lots of information together </li></ul><ul><li>MetaNotes can be used for personal productivity: SET + TRACK YOUR GOALS </li></ul>
  5. 5. Features Of MetaNotes <ul><li>Optimized to “extend the use” of your notes: memory, ease of entry & arrangement, finding text, sharing </li></ul><ul><li>Immediately easy to grasp for new user </li></ul><ul><li>Drag around, resize, stack notes </li></ul><ul><li>The benefits of a personal wiki but FUN </li></ul><ul><li>Access your notes from any PC: school, work, home </li></ul><ul><li>Include images and YouTube videos </li></ul><ul><ul><li>Allows PUSHING of video too (unique ad model) </li></ul></ul><ul><li>Breaks Out Of The Typical Screen – the MetaNotes desktop spreads like Excel </li></ul><ul><li>Multiple worksheets in an account </li></ul><ul><li>Value increases with usage (as does lock-in) </li></ul><ul><li>SOON: RSS feeds, search, intro sequence </li></ul>COMPETITION: Stikkit, Google Notebook, WebNote (open source project) SUBSTITUTES: de.licio.us, Franklin Planner, 3M Post-It Notes, MS Outlook, MS Word, Notepad, Stickies (mac), Microsoft OneNote, CRM software
  6. 6. Guy Kawasaki on AdSense <ul><li>“ If any company comes to Garage and says that their business model is to generate a lot of page views and monetize it with Google AdSense, I'm going to be figuring that each page impression is worth $.001. For example, 10 million page impressions would yield $10,000/month. It's not that hard to get 10 million page views in a month, right? :-) ‘We'll generate a lot of traffic and monetize it with Google AdSense’ is hereby labeled the 11th lie of entrepreneurs.” </li></ul>THEREFORE: We are not going to depend on CPC advertising as our sole revenue model.
  7. 7. Phase One: Virtual Goods, Teaser Sites, Featureboosts, AdBrite <ul><li>HotOrNot.com: 40% of their revenue = “virtual flowers”: let guys connect with girls (a chasm crossed!) </li></ul><ul><li>Can we adapt their model to a “teaser site”? </li></ul><ul><ul><li>in other words, a site using MetaNotes’ interface look&feel which also lets users rank the cute factor on uploaded pix </li></ul></ul><ul><ul><li>see http://metanotes.lbox.org/hotornot </li></ul></ul><ul><ul><li>Would be a very good illustration of the “rich community” applications that MetaNotes can enable </li></ul></ul><ul><li>In exchange for PayPal payments from users, we can “turn on color notes”, let you import RSS feeds, etc. </li></ul><ul><li>AdBrite: CEO is in our personal network </li></ul><ul><ul><li>Interstitials and display ads </li></ul></ul><ul><ul><li>Specific advertiser-to-publisher options </li></ul></ul><ul><ul><li>Contextual advertising (we will also explore IntelliTXT) </li></ul></ul><ul><ul><li>We can recruit advertisers ourselves to up our cut </li></ul></ul>
  8. 8. Phase Two: Subscription Revenue Model <ul><li>Upgrade Pricing: Depends on price elasticity </li></ul><ul><ul><li>$5/month? more? less? </li></ul></ul><ul><ul><li>PBWiki pricing: $0/$10/$25/$100 monthly </li></ul></ul><ul><ul><li>Charge $2 per new page (first one’s free)? </li></ul></ul><ul><ul><li>Charge for image hosting, virtual goods and other value adds </li></ul></ul><ul><ul><li>We will deploy marketing focus, resources and tactics to strategically drive conversion from free to paid accounts (free trial -> sale) </li></ul></ul><ul><ul><li>To improve conversion, augment the subscription feature set </li></ul></ul><ul><ul><li>Subscription revenue goes straight to bottom line </li></ul></ul><ul><li>Enterprise Sales: deploy MetaNotes behind the firewall </li></ul><ul><ul><li>price on a cost per seat basis </li></ul></ul><ul><ul><li>Might distract us during initial “user drive” phase </li></ul></ul><ul><ul><li>May require dedicated sales force and R&D </li></ul></ul><ul><ul><li>Intellectual Property protection is critical for this </li></ul></ul><ul><ul><li>Salesforce.com integration could ramp us up fast </li></ul></ul><ul><li>Will require dedicated R&D before we can implement </li></ul><ul><li>During beta test, simply solicit donations for virtual goods </li></ul>
  9. 9. Phase Three: MARKETPLACE.METANOTES.COM <ul><li>Become the market leader in the next form of advertising: PAY PER ACTION </li></ul><ul><ul><li>Pay us to get your merchandise actually sold; you define our cut, we try to sell it for you based on it </li></ul></ul><ul><ul><li>Pay us to get signups or video-views from users </li></ul></ul><ul><ul><li>Tons of context generated by users for targeting </li></ul></ul><ul><li>Tap into the “long tail of stuff for sale” </li></ul><ul><ul><li>Wizard-driven “EZ-Commerce” </li></ul></ul><ul><ul><li>Promote To Craigslist Advertisers </li></ul></ul><ul><ul><li>Integrate Paypal/Google Checkout/Etc. </li></ul></ul><ul><ul><li>Render Yahoo! Stores Obsolete </li></ul></ul><ul><ul><li>Integrate with eBay, Amazon, other affiliate links </li></ul></ul>
  10. 10. Key Business Model Metrics <ul><li>total revenue = featureboost revenue + CPC revenue + PPA revenue + affiliate revenue + enterprise revenue + subscription revenue + merchandise revenue </li></ul><ul><li>total expenses = # users x (cost of user acquisition + cost of providing service to one user) + salaries + overhead costs + taxes </li></ul><ul><li>user growth = # of people aware x % interested x % signing up x % frequent usage + viral growth </li></ul><ul><li>viral growth = # users x invites sent per user x invite acceptance rate </li></ul><ul><li>featureboost revenue = # users x featureboost rate x price </li></ul><ul><li>pageviews = # users x amount of usage </li></ul><ul><li>CPC revenue pageviews x clicks x cost-per-click x our cut </li></ul><ul><li>PPA revenue = (marketplace sales x our cut) + (# of giveaways x our cut) + (# of signups x our cut) </li></ul><ul><li>affiliate revenue = # users x merchandise offered per user x conversion per offer x commission (amazon, eBay, emusic etc.) </li></ul><ul><li>enterprise revenue = enterprise seats sold x enterprise seat price </li></ul><ul><li>subscription revenue = # users x upgrade rate x upgrade price </li></ul><ul><li>merchandise revenue = merchandise sold x merchandise price - merchandise cost – channel cut (planners, books we write etc) </li></ul>
  11. 11. The D-Day Analogy <ul><li>The perils of the chasm: Friendster/Myspace </li></ul><ul><li>MetaNotes must win entry to the mainstream, overcoming any possible resistance </li></ul><ul><li>Short-term goal: secure a “beach-head” </li></ul><ul><li>Long-term goal: to enter and take control of a mainstream market one segment at a time </li></ul><ul><li>Alter the default online behavior of one target segment after another </li></ul><ul><li>Set The Standard And Sweep The Market </li></ul><ul><li>Convey and own a unique brand promise </li></ul>
  12. 12. The Web 2.0 Chasm <ul><li>Web 2.0: Browser, Server, Application, Business Model, Brand, User, Ecosystem and Organizational/Leadership Breakthroughs </li></ul><ul><li>Google AdSense No Business Model Panacea – Guy Kawasaki* </li></ul><ul><li>Early Adopters of Web 2.0: ~65,000 ppl (source: Om Malik) </li></ul><ul><li>Most Web 2.0 And Note-Taking Software Firms Target “Geeks” </li></ul><ul><ul><li>Examples: our “rivals” Stikkit; aimed at “sophisticated” users, not for easy adoption; wikis </li></ul></ul><ul><li>Successful Web 2.0 sites gain broader appeal </li></ul><ul><ul><li>Myspace, Flickr, YouTube, Digg, Facebook: millions of users </li></ul></ul><ul><ul><li>Fun functionality, social experience, great branding, PR </li></ul></ul><ul><li>We can blow out the gate to Web 2.0 early adopters such as coders, but the needs of students and entrepreneurs guide us </li></ul><ul><li>The latter group has trouble accepting a new product if it is presented in the same way – AVOID GEEK TONE! </li></ul><ul><li>Many high tech ventures have failed to cross the chasm and user growth and revenue peters out (e.g. Friendster) </li></ul>
  13. 13. What is the MetaNotes market? <ul><li>A set of potential users who have a need or desire to take and share superior “notes” </li></ul><ul><ul><li>Some may use mindmapping software/PalmPilots </li></ul></ul><ul><ul><li>Four occupational segments with this need: students, bloggers, entrepreneurs, professionals </li></ul></ul><ul><li>These users are often online and either sophisticated or experimental </li></ul><ul><ul><li>Interested in new planning/publishing tools </li></ul></ul><ul><ul><li>At work or school or home, they have a connection </li></ul></ul><ul><ul><li>They may be unconscious of their notetaking styles </li></ul></ul><ul><li>Web 2.0: passion for integrated social networking, collaboration, “mashups”, multimedia </li></ul><ul><li>Network effects: these users reference one another when adopting services; viral marketing and usage </li></ul>SPARSE COMPETITION: Among Web 2.0 services only de.licio.us, Google Notebook and Stikkit (all rather obscure) are designed to assist with note-taking online.
  14. 14. How MetaNotes Will Market To Reach Across The Chasm <ul><li>Focus our marketing investment; spend $ on students </li></ul><ul><ul><li>Students: “take better notes”: brand, value proposition, product design, PR, help docs, social networking/collaboration, viral </li></ul></ul><ul><ul><li>Bloggers: “a new way to publish”: product design, PR, help docs </li></ul></ul><ul><ul><li>Entrepreneurs: “a virtual whiteboard”: product design, PR, help </li></ul></ul><ul><ul><li>Web 2.0 Early Adopters: “wow cool”: PR, brand, viral, events </li></ul></ul><ul><li>Emphasize Value Propositions Specific To Them </li></ul><ul><ul><li>Access your notes from school, work, home, on the road </li></ul></ul><ul><ul><li>Search, tag, and organize your notes visually: it’s FUN ! </li></ul></ul><ul><ul><li>Perfect for teamwork and group studying or planning </li></ul></ul><ul><ul><li>Memory: “MetaNotes will help you remember everything” </li></ul></ul>THE PAYOFF: Millions of users, not just thousands
  15. 15. MetaNotes Promotion Plan <ul><li>Industry events: DefCon, SXSW-i, Web 2.0, eBay Live; Warped Tour et al. for students </li></ul><ul><li>Contests: a “video mixtape” * contest to highlight our YouTube integration and get students buzzed </li></ul><ul><li>Student internship program to recruit evangelists </li></ul><ul><li>Be mentioned in blogs/magazines/papers they read </li></ul><ul><li>Flyers posted on college campuses & coffeeshops </li></ul><ul><li>Free stickers to help users spread the word </li></ul><ul><li>Develop applications specific to these segments </li></ul><ul><ul><li>“ Wizards” for entrepreneurs to execute business planning </li></ul></ul><ul><li>Partnerships and API integration w/ other Web 2.0 firms: mash-ups, widgets, YouTube </li></ul><ul><li>Earn a reputation for cool, flexibility, and “it just works” </li></ul><ul><li>Expert testimonials, video tutorials, attitude </li></ul>* as an example: http://metanotes.lbox.org/stereolab
  16. 16. Who Are Early Adopters Of New Note-Taking And Web 2.0 Apps? <ul><li>Driven By A Dream </li></ul><ul><ul><li>They match their needs and visions with whatever note-taking tools are available </li></ul></ul><ul><ul><li>The core goal is a BUSINESS goal, not a technology goal: they want ADVANTAGE </li></ul></ul><ul><ul><li>Their system helps them take a quantum leap forward in how ideas are organized </li></ul></ul><ul><li>They want an “order of magnitude” improvement and will experiment </li></ul><ul><li>Can be a core for viral growth </li></ul><ul><li>Focusing on their needs will alienate Majority </li></ul><ul><li>Result: Mindjet, Stikkit, wikis remain obscure </li></ul>
  17. 17. Who Are The Early Majority for Note-Taking And Web 2.0 Apps? <ul><li>They care about: </li></ul><ul><ul><li>The brand and its appeal to their peer groups </li></ul></ul><ul><ul><li>The proven effectiveness of the note techniques </li></ul></ul><ul><ul><li>Choosing the right platform and ecosystem </li></ul></ul><ul><ul><li>Easy to learn, easy to extend, easy to show others </li></ul></ul><ul><ul><li>Reliability, reasonable pricing, fun and surprise </li></ul></ul><ul><li>Vertically oriented </li></ul><ul><ul><li>They communicate with others like themselves in their own industry </li></ul></ul><ul><ul><li>References and relationships are very important </li></ul></ul><ul><ul><li>Like brands that feel “hip”, “personal” or “pro” </li></ul></ul><ul><ul><ul><li>examples: Twitter, YouTube, Salesforce.com </li></ul></ul></ul>
  18. 18. The Advantages Of Early Mainstream Acceptance <ul><li>Tend to be very loyal once they’ve tried a service and found it satisfying – happy to be “locked in” </li></ul><ul><li>They may even go out of their way to make sure MetaNotes succeeds </li></ul><ul><ul><li>viral marketing & recommendation </li></ul></ul><ul><ul><li>financial support: donations, upgrades </li></ul></ul><ul><li>When this happens, the cost of new user acquisition goes way down and revenues from sales and advertising go way up </li></ul><ul><li>The leverage on incremental R&D to support any given customer goes up with more users </li></ul><ul><li>Your brand becomes synonymous with the usage </li></ul>
  19. 19. Be The Market Leader Faster <ul><li>We Need The Largest Market Share WITHIN OUR TARGETED NICHES </li></ul><ul><ul><li>We think MetaNotes will be ubiquitous on campus </li></ul></ul><ul><ul><li>We think MetaNotes will be synonymous with “taking notes” </li></ul></ul><ul><li>Provide The Whole Product For Students And Satisfy Them Completely & Forever </li></ul><ul><li>CHOOSE VERY SMALL PONDS AND BECOME THE BIG FISH IN THEM – don’t sell to the whole market </li></ul><ul><li>Focus exclusively on market leadership within one or two carefully selected market segments </li></ul><ul><ul><li>Students </li></ul></ul><ul><ul><li>Those Dependent On Teamwork </li></ul></ul><ul><ul><li>People Who Take And Publish A Lot Of Notes (“Power Notetakers”): entrepreneurs, inventors, bloggers, academia </li></ul></ul>
  20. 20. The MetaNotes Team <ul><li>Srini Kumar* – Founder, CEO </li></ul><ul><li>John Beppu – Founder, CTO (Geni.com) </li></ul><ul><li>Emery Dora* - VP Partnerships & Sales </li></ul><ul><li>Ron Clabo* - VP Product Management </li></ul><ul><li>Ron Wen* - VP Marketing </li></ul><ul><li>Matt Madsen* - VP Operations </li></ul><ul><li>Matthew Holt – Coder (Red Hat) </li></ul>* MBA Class of 2007, UNC Kenan-Flagler
  21. 21. UPCOMING MILESTONES <ul><li>Early July: Meet in LA to finish coding the beta; user accounts, ads, groupware </li></ul><ul><li>Mid-July: Finalize incorporation, banking setup, initiate IP procedures </li></ul><ul><li>August 3-5: DefCon – LAUNCH BETA </li></ul><ul><li>“ Back To School” – Student Marketing Promotions Program Well Underway </li></ul><ul><li>October – CED Tech, Chapel Hill? </li></ul><ul><li>Thanksgiving: MARKETPLACE LAUNCH </li></ul>
  22. 22. THANK YOU
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