4. Team BigData
• PI: Nan Zhang
– Assistant Professor of Computer Science, George
Washington University (GWU)
– Research areas: Databases, Information Privacy
• EL: Sundaresan Rajasekaran
– Graduate Student of Computer Science, GWU
• Mentor: Jim Chung
– Director, Office of Entrepreneurship, GWU
– Director, VentureAccelerator, UMD
– Investor (Angel, VC, Private Equity, M&A)
5. Business Canvas (v1)
Privacy Creating Increased educational
advocacy Privacy-
awareness privacy
groups trust concerned
consumers
Building trust who use LBS
LBS App
Providers
Technology
Own website
Bundling with
LBS apps
Developing
App revenue (direct or shared)
costs
Marketing
costs
6. What We Did for LBS Privacy
• Interviews with consumers
– Mixed Responses
• How about LBS providers?
– “ No Way ! ”
– Want users to share, not hide
• Pivot point: privacy advocacy groups
– Consumers not ready
– Requires legislations
7. What We Found
Privacy Creating Increased educational
advocacy awareness Privacy-
privacy
groups trust concerned
customers
Building trust
LBS App who use LBS
Providers
Companies
uneasy about
employees’
Consumers Don’t online
Care About activities
Technology
Location Privacy
Own website
Bundling with
LBS apps
Developing
App revenue (direct or shared)
costs
Marketing
Subscription
costs
8. Restart
0845644, 0915834
61/445,272 (web data)
61/423,939 (local storage)
Websites File Systems Databases Web Dataset
9. Business Canvas v2 (After Restart)
Customer
Acquisition High Touch Current
Accounting Remove
Firms Integration Cost
Customer
Service Auditing/Forensi
System
Development c Accounting
Firms/Orgs
Improve
Scalability
Real-Time
Analytics
Direct Sales
Technology
Interaction
Flexibility
System Customer
Customer
Development Service Subscription/Service/Training Fee
Acquisition Cost
Cost Cost
10. What We Did for Forensics Accounting
• They pointed us to:
• Interviews with forensics – Intelligence Community (IC)
accountants – Hedge fund managers (HF)
– Deloitte, KPMG, Stanford, A
ARM
– Hands-on • Aha moment
experience, understood BUT – Repeatedly hearing IC&HF
pain points
• Why?
• Unfortunately… – willing to take risk
– “Quick & dirty” analytics ≠ – make decision quickly
admissible evidence
– high stakes.
11. What We Found
Customer
Acquisition High Touch Current
Accounting Remove
Firms Integration Cost
Customer
Service Auditing/Forensi
System
Development c Accounting
Firms/Orgs
Improve
Scalability
Real-Time
Analytics
Direct Sales
Technology
Interaction
Flexibility
System Customer
Customer
Development Service Subscription/Service/Training Fee
Acquisition Cost
Cost Cost
12. Business Canvas v3
Frontend Backend High Touch
Visualization Development Instant Customer Current
Providers Analytics Service
Customer
Acquisition Generic Intelligence
Proprietary Exploring non-
Training for Community
Data Providers importable data
Frontend sources Partners
Customization
Service-
Hedge Fund
Oriented
Companies No “Paper Managers
Trail”
Direct Sales Hospitals
Technology
Government
Licensing to Agencies
Service
Companies Ad Agencies
System
Customer Training
Development Subscription/Service/Training Fee
Acquisition Cost Cost
Cost
13. Earlyvangelists
• Intelligence Community
Overwhelmingly – Gov Agencies, In-Q-Tel, TRS, SAIC, 42six
positive responses
Need instant answer • Hedge Fund Manager
• Speed – Citigroup, VentureCount, ManagementCV, Lever
• Scalability point, hedge fund manager, etc
We learned:
• Customer relationship
• Distribution channel
• Purchase decision workflow
• Partnership
15. Non-Customers
• Inertia
• Government regulators SEC, FTC
• Not invented here
• Precise results only
• Medical Data Analysts
16. Purchase Decision for IC, HF, IB & BI
BI/IB Corporate IT
Department /
CIO office
HF
IC
Analyst/
Manager/
Partner
Service
company
for IC
17. Key Partners
• Service companies for IC
– Verified mutual interest (e.g., 42six)
– Reason 1: Enter intelligence market
– Reason 2: Bridge specific demand & generic product
• Front-end processing providers
– Verified mutual interest (e.g., SAIC)
– Reason 1: Our key strength is on backend
– Reason 2: Backend is generic
– Reason 3: Front-end customer-specific
• Proprietary data providers
– e.g., LexisNexis, Thomson Reuters, etc.
• Platforms
– e.g., Bloomberg terminal, Factset
18. Our Offering
Intelligence Hedge Business
Community Fund Intelligence
Service
Companies
Front-end Front-end Front-end
module module module
Our Generic Backend Platform for Instant Data Analytics
19. Total Market Size
• Global financial data market: $16 billion /
year [Inside Market Data]
– Bloomberg: revenue $6.9 billion / year
– Thomson Reuters: revenue $14 billion total /
year, about $6 billion / year for financial data
– Smaller players for the other 1/3 market
IC: ? – e.g., FactSet $641 million / year
IB:
$16b
• Global analytics / BI software market: $10
BI: billion / year [Gartner]
$10b – SAS: $1.4 billion / year
• Intelligence Community
– SAIC: $10 billion / year, TIBCO: ~$700
million/year
– Palantir: $100 million / year, but doubling every
year
20. Hedge Funds Target Market
• Bloomberg Terminal
– $18,000 / year / terminal
Total: $26b • FactSet
– $50,000 / subscription, + $6,000
additional user
• Palantir
Served: $16b – $225,000 initial cost + $45,000/year for
support and maintenance
• Target Market at the beginning:
– $100,000 / system * 12,000 hedge
Target: $1.2b funds = $1.2 billion
21. Business Canvas Now
Frontend Backend High Touch
Visualization Development Instant Customer Current
Providers Analytics Service
Customer
Acquisition Generic Intelligence
Proprietary Exploring non-
Training for Community
Data Providers importable data
Frontend sources Partners
Customization
Service-
Hedge Fund
Oriented
Companies No “Paper Managers
Trail”
Direct Sales
Technology
Licensing to
Service
Companies
System
Customer Training
Development Subscription/Service/Training Fee
Acquisition Cost Cost
Cost
22. Learning
• Value propositions … and even
customers … come from outside the
building
– Not brainstorming sessions inside the office
• Viable Business?
– Yes
– But it takes time to develop
• Next Steps
– Recruit a CEO
– Continued customer development (Interviews
already scheduled / planned)
– Finish the MVP
– Apply for SBIR
– Seek additional sources of funding
24. Business Canvas (v1)
Privacy Creating Increased educational
advocacy Privacy-
awareness privacy
groups trust concerned
customers
Building trust who use LBS
LBS App
Providers
Technology
Own website
Bundling with
LBS apps
Developing
App revenue (direct or shared)
costs
Marketing
costs
25. What We Found
Privacy Creating Increased educational
advocacy awareness Privacy-
privacy
groups trust concerned
customers
Building trust
LBS App who use LBS
Providers
Companies
uneasy about
employees’
Consumers Don’t online
Care About activities
Technology
Location Privacy
Own website
Bundling with
LBS apps
Developing
App revenue (direct or shared)
costs
Marketing
Subscription
costs
26. Business Canvas v2 (After Restart)
Customer
Acquisition High Touch Current
Accounting Remove
Firms Integration Cost
Customer
Service Auditing/Forensi
System
Development c Accounting
Firms/Orgs
Improve
Scalability
Real-Time
Analytics
Direct Sales
Technology
Interaction
Flexibility
System Customer
Customer
Development Service Subscription/Service/Training Fee
Acquisition Cost
Cost Cost
27. Business Canvas v3
Frontend Backend High Touch
Visualization Development Instant Customer Current
Providers Analytics Service
Customer
Acquisition Generic Intelligence
Proprietary Exploring non-
Training for Community
Data Providers importable data
Frontend sources Partners
Customization
Service-
Hedge Fund
Oriented
Companies No “Paper Managers
Trail”
Direct Sales Hospitals
Technology
Government
Licensing to Agencies
Service
Companies Ad Agencies
System
Customer Training
Development Subscription/Service/Training Fee
Acquisition Cost Cost
Cost
28. Business Canvas Now
Frontend Backend High Touch
Visualization Development Instant Customer Current
Providers Analytics Service
Customer
Acquisition Generic Intelligence
Proprietary Exploring non-
Training for Community
Data Providers importable data
Frontend sources Partners
Customization
Service-
Hedge Fund
Oriented
Companies No “Paper Managers
Trail”
Direct Sales
Technology
Licensing to
Service
Companies
System
Customer Training
Development Subscription/Service/Training Fee
Acquisition Cost Cost
Cost
