*I am [a prospective NYU Student] and I want a new way to explore [ NYU] . -Do we want to include images of the methods? A tour book, a person, a website?
*I am [a prospective NYU Student] and I want a new way to explore [ NYU] . Filters for credible sources
-The tour information industry is dying, just like the newspapers (Newspaper industry dying: Regional and interest specific ones that are surviving). App Store (Grease)
-http://www.readwriteweb.com/archives/todays_iphone_users_are_young_rich_and_technically_savvy.php -Our Customer: Prospective NYU student and family, Valuable customers, “Sticky” due to business model -I am [a prospective NYU Student] and I want a new way to explore [ NYU] .
A new way to explore. Ajay Chainani Andrew Greier Bethany Halbreich Jonathan Jeong Jordann Wine
Agenda• Company purpose• Problem• Solution• Why now• Market Size• Competition• Product• Business Model• Team• Financials
Company Purpose To provide an interactive mobile exploration tool that serves as a custom guide based on specific interest areas• Short Term: Provide a detailed guide around NYU’s campus for new and prospective NYU students: – Specific to school, interests, and location – Recommends sponsored local attractions• Long Term: Expand upon our mobile platform to provide guidance to consumers globally: – User generated content – User rating system• Value Proposition: – Buyer: An exciting, customizable, mobile, GPS-based guide – Seller (Advertiser): Location based advertising that is relevant
ProblemToday: When people explore and learn aboutphysical places, they rely on the internet, word-of-mouth, tour books, or even guesswork Pain: None of these methods combine guidance, customization, mobility, and credibility
Solution• Value Proposition: An interactive mobile exploration tool that serves as a custom guide based on specific interest areas. iGuide is built on the iPhone platform, leveraging location-based GPS technology, and powered by user generated content• “I am a prospective NYU student and I’d like a new way to explore athletic facilities around campus”• Why use it? – Interactive and customizable process – Cuts search and sorting time – Specific and credible content – Fun to use
Why Now?The Evolution• The tour information industry has not changed much over the years: – Tour books & tour guides Tourism information on the internet• The directory industry however has changed: – Yellow Pages Directory information on the internet Yelp! Yelp! Mobile Recent Trends Make This an Opportune Moment • Technological Advancements: – iPhones with GPS – Apple store platform – Mash-ups • Clutter of data • Business Model: – GPS based advertisements
Market SizePhase I – NYU • > 80,000 people want to explore NYU in a customized way • > 40,000 students1 tour NYU each year; enrollment of > 40,000 students1 • Benefit from cyclical admissions and academic process • NYU is the ideal location for the iGuide platform App: • Relatively higher penetration of Apple products • Cosmopolitan surroundings allow for customization in exploring interestsValue of Our Customers • “I am an NYU Student and I want a new way to explore Japanese Denim Stores” • iGuide customers are valuable >12,000 • “Sticky” due to business model >7,500 Downloads • Leverage the diversity of NYU Downloads • NYU students live in & around campus • Growing applications to NYU >4,000 Downloads1 NYU Campus Admissions2 See market size & distribution assumptions
CompetitionCurrent Competition: Competitors Weaknesses Strengths VulnerabilityNYU Welcome Center •Inconvenient •Credible •Not In-depthTour •Not customized to the •Questions •Biased individual •PersonableCampustours.com •Not Mobile •Large database •Does not leverage phone •Not customizable •Specific information technology •BiasedFuture Competition:Yelp •Not customizable •Categorized •No guidance provided •Solely a directory •User-generated contentNot For Tourists •Not interactive •Maps •Does not leverage phone •Not customizable •Credible Commentary application technology •Web-based & bookTour Books •Costly •Book •Not customizable •Book •Recommendations •Not detailed enough •Credible *All competitors mentioned are possible adjacent market entrants.
Competition (Cont.)• Competitive Advantages: • Sustainability: – Mobile platform – The fact that we have – User-generated content physical real estate on the – Customizable customer’s phone and they made the purchase it – GPS-based creates high switching – Cheaper costs. – As a first mover we will be• Roadmap to sustain/build this able grow our user- advantage: generated content faster – Through four phases of execution, beginning with NYU, and eventually expanding to a global level
Business Model• Revenue Model: Product and Advertising• Revenue derived from paid downloads of application and location based advertising – Charge a marginally higher price in the iTunes Store – Signals a high quality product – Induces customer to use application more often improves advertising revenue – Once the application is purchased, all additional tours are free of charge – Comparable products range from free (Yelp) to $9.99 (Zagat) – Relative to the industry landscape, we are in• Sales & Distribution: – Apple Apps Store – Endorsement by NYU• Pricing: – average account size and or lifetime value – Customer pipe line list
Team Board of Advisors (skills/profession):Patrick Gorman (Founder iFind Group), Professor Norman White (NYU IOMS Dept. Head) Also interested in having lawyers, tour industry experts, and investors
Financials• P&L• Balance Sheet• Cash Flow• Cap table• The Deal (ask for money and tell why)