1. Traveling Spoon
Connecting travelers with vetted, authentic food experiences in people’s
homes around the world
104 interviews
Andrea Angquist, Steph Lawrence, Sanjay Sharma, Aashi Vel
4.3.2013

2. The Idea
“My experience with the Traveling Spoon was the highlight of my trip to India! I would
jump at the chance to do another wherever in the world I might travel next.”
- Jane Wong, guest

3. The Team
Andrea Angquist Steph Lawrence Aashi Vel Sanjay Sharma Keval Desai
Hacker, Picker, Designer, Hustler, Advisor,
Technology geek Marketing genius Design expert Finance guru Just awesome!

4. The market is large and growing
TAM
International tourist spending
$483 billion
SAM
Tourism food receipts
$159 billion
Traveling Spoon
Addressable Market
$26.6 billion
SOURCE UN World Tourism Organization 2012

5. Business Model Canvas, v1
LaunchPad Cent ral
KEY PARTNERS KEY ACTI VI TI ES VALUE PROPOSI TI ONS CUSTOM RELATI ONSHI PS
ER CUSTOM SEG ENTS
ER M
 Tr a ve l g u id e s  Te ch n ica l  Acce s s t o Tra ve le rs: Lo n e ly
Website
a n d w e b s it e s p la t fo r m in t e r a ct io n a n d Pla n e t , yo u n g
(Lo n e ly Pla n e t , d e ve lo p m e n t » cu lt u r a l e xch a n g e »
Personal assistance p ro fe ssio n a ls, 2 5 -
e xp e d ia ,
Reviews 3 8 yrs »
k a y a k . co m ) »  H o s t Co m m u n it y  Sa fe a n d
grow t h » in cr e a s e d a cce s s  H o s t s : m a le
 Re vie w w e b s it e s t o lo ca l a n d fo o d ie s , 4 0 - 6 0 y r s
 Qu a lit y
(t r ip a d vis o r , y e lp ) » a u t h e n t ic fo o d » »
As s u r a n ce fo r
 Fo o d b lo g g e r s »  Acce s s t o  H o s t s : M id d le
KEY RESOURCES CHANNELS
m e a n in g fu l t r a ve l a g e d , w o r k in g
 Exp e rie n ce
e xp e r ie n ce s a n d w ome n: 40+ »
a ggre ga t ors  H u m a n Ca p it a l:  So cia l n e t w o r k s ,
cu lt u r a l e xch a n g e
(Va y a b le , Via t o r) » CTO , p r o g r a m m e r s , w it h lo ca ls » b lo g g in g
cu s t o m e r s e r vice , co m m u n it y »
r e g io n a l m g r s »  Re ve n u e s t r e a m
fo r w o m e n in  W e b s it e &
 In t e lle ct u a l: u n d e rd e ve lo p e d M o b ile Ap p »
cu s t o m e r n a t io n s »
da t a b a se s a nd  D ir e ct in -p e r s o n
ne t w ork:  N e e d t o a vo id a n d p h o n e (via
COST STRUCTURE REVENUE STREAMS
 H u m a n r e s o u r ce s , IT, e n g in e e r in g , d e s ig n »  Br o k e r a g e fe e , fixe d % p e r t r a n s a ct io n »
 In s u r a n ce »  M e r ch a n d is in g (co o k b o o k s , g u id e b o o k s , p o d ca s t s ) »
 M a r k e t in g a n d Sa le s »  Lice n s in g co n t e n t »
 H o s t a cq u is it io n »

6. What we did
Interviewed 35 Lonely Planet travelers
Where do you STAY?
Which websites do you browse?
How do you decide where to eat?
How many PEOPLE do you travel with?

7. What we found
NOT MUCH NEW,
but it was validating.
Logistics
100% $25 Security
Reviews
Interested Willingness What’s
to pay important
Customer Demand Net Promoter Score
95% of LP customers would NPS = 9, from survey of
pay for a TS experience all existing customers
Sample size: 200

8. We were missing something

9. What we did
Interviewed 30 Luxury travelers
Where do you STAY?
What do you read?
Who PLANS your trip?
How much do you spend on a trip?

10. What we found
Food safety
HIGH 80% Hygiene
Quality
Conversation
Decision maker Willingness Interested Concerns
to pay
Travel
TripAdvisor agents,
WOM tour
operators
Trust Channels

11. But was our product a luxury product?
“I loved my Traveling “At first I thought $25 was a
Spoon experience, but it lot of money for a meal in
was not what I was India. But when I saw how
expecting. Vasudha’s many courses were offered,
home was, how should I and how nice the
put it, nice. I wasn’t experience was, it seemed
expecting luxury.” like an incredible value.”
- Paula Crossfield, Traveling Spoon customer - Jane Wong, Traveling Spoon customer

12. What we did next
INSPIRATION BOOKING TRAVEL REVIEWS
Google
Peer-to- Tour
peer operators
Inspiration
Review
engines
aggregators
OTAs
Experience
Social Hotel
aggregators
media concierge
WOM
Local
Travel Direct
Travel guides
guides sales
agents
Printed Group Tourism
Online
buy offices

13. Which channels are important?
INSPIRATION BOOKING TRAVEL REVIEWS
Google
Peer-to- Tour
peer operators
Inspiration
Review
engines
aggregators
OTAs
Experience
Social Hotel
aggregators
media concierge
WOM
Travel
agency
Travel Local
Travel network Direct
agents guides
guides sales
Printed Group Tourism
Online
buy offices

14. How we fit in the ecosystem
US INDIA
Destination
Tour Operator
Mgmt Cos
Traveler Host
Traveling
Spoon
Experience
aggregators
(25%)
Interviewed 26 channels

15. Why would they be interested in us?
“This market is growing! We need new tour operators who have the
scale to work with our requirements. You would be perfect.”
- Baidi Li, Asia Product Manager
“Sometimes we get stuck because travelers ask for home dining
experiences and we don’t have hosts in certain cities.”
– Shonali Dutta, Managing Director
“Food has become an important part of boutique travel. Home
dining is very trendy now, and we want to expand to India.”
– Rumit Mehta, CEO

16. What we found
 $500 fixed listing cost  No fee (they add a  1% commission
 25% commission mark-up)  Loss of control over
 Minimal brand  No commission touch-points
recognition  Requires sales person  Minimal brand
 Requires insurance recognition
 Requires TripAdvisor
presence Traffic partners Supplier

17. What we did

18. What we changed
1
1 HOW do I get there?
How do I know that I
2 2
won’t get SICK?
3 WHERE am I going?
SFACTI
TI O
A
S
N
TRAVELING
S P O O N
CERTIFIED
G
D
UA
RA N TE
E
Too much information -
4
it’s OVERWHELMING.
3
4

19. What we learned summary
Customer Revenue
Value Prop Channels Key partners
segments Streams
 Local and  Review  Fixed
authentic websites commission
food  Travel guides 15%
 Cultural  Variable
 Traffic
exchange commission
partners:
 Food safety around 40%
Experience
 Logistics
aggregators,
 Interactions in
Tour Operators
English
& DMCs
 Suppliers

20. The business… is it worth it?
Culinary tourism is a
$27 billion industry.
Traveling Spoon
Addressable Market
$26.6 billion With no major leader.
We think we can
change that.

21. YES.
We remain passionate about connecting travelers with meaningful,
authentic culinary experiences in people’s homes around the world.
To get there…
Launch beta site with first 50 hosts
Build out team with CTO and first regional manager
Develop partnerships with 20+ additional tour
operators and DMCs; build partnership with Viator
including developing first 10 listings in multiple cities
Secure angel funding for next 12 months of operations

22. The video

23. We hope you’ll come with us.
As we build Traveling Spoon after graduating, we would
love to stay in touch.
We hope you’ll contact us at info@travelingspoon.com if
you are interested in serving as an advisor, investor, team
member or friend. We’d love to share a meal with you.
Thanks to all the Lean Launchpad faculty, students, GSIs
and advisors for this great learning experience.
We’ve had a lot of fun.
- Aashi, Andrea, Sanjay and Steph

24. APPENDIX FLIPBOOK!

25. Week 1 Cent ral
LaunchPad
KEY PARTNERS KEY ACTI VI TI ES VALUE PROPOSI TI ONS CUSTOM RELATI ONSHI PS
ER CUSTOM SEG ENTS
ER M
 Tr a ve l g u id e s  Te ch n ica l  Acce s s t o Tra ve le rs: Lo n e ly
a n d w e b s it e s p la t fo r m in t e r a ct io n a n d Pla n e t , yo u n g
(Lo n e ly Pla n e t , d e ve lo p m e n t » cu lt u r a l e xch a n g e » p ro fe ssio n a ls, 2 5 -
e xp e d ia , 3 8 yrs »
k a y a k . co m ) »  H o s t Co m m u n it y  Sa fe a n d
grow t h » in cr e a s e d a cce s s  H o s t s : m a le
 Re vie w w e b s it e s t o lo ca l a n d fo o d ie s , 4 0 - 6 0 y r s
 Qu a lit y
(t r ip a d vis o r , y e lp ) » a u t h e n t ic fo o d » »
As s u r a n ce fo r
 Fo o d b lo g g e r s »  Acce s s t o  H o s t s : M id d le
KEY RESOURCES CHANNELS
m e a n in g fu l t r a ve l a g e d , w o r k in g
 Exp e rie n ce
e xp e r ie n ce s a n d w ome n: 40+ »
a ggre ga t ors  H u m a n Ca p it a l:  So cia l n e t w o r k s ,
cu lt u r a l e xch a n g e
(Va y a b le , Via t o r) » CTO , p r o g r a m m e r s , w it h lo ca ls » b lo g g in g
cu s t o m e r s e r vice , co m m u n it y »
r e g io n a l m g r s »  Re ve n u e s t r e a m
fo r w o m e n in  W e b s it e &
 In t e lle ct u a l: u n d e rd e ve lo p e d M o b ile Ap p »
cu s t o m e r n a t io n s »
da t a b a se s a nd  D ir e ct in -p e r s o n
ne t w ork:  N e e d t o a vo id a n d p h o n e (via
COST STRUCTURE REVENUE STREAMS
 H u m a n r e s o u r ce s , IT, e n g in e e r in g , d e s ig n »  Br o k e r a g e fe e , fixe d % p e r t r a n s a ct io n »
 In s u r a n ce »  M e r ch a n d is in g (co o k b o o k s , g u id e b o o k s , p o d ca s t s ) »
 M a r k e t in g a n d Sa le s »  Lice n s in g co n t e n t »
 H o s t a cq u is it io n »

26. Week 2 Cent ral
LaunchPad
KEY PARTNERS KEY ACTI VI TI ES VALUE PROPOSI TI ONS CUSTOM RELATI ONSHI PS
ER CUSTOM SEG ENTS
ER M
 Go o g le fo r Te ch n ica l p la t fo rm  Acce s s t o g o o d  GET: PR, Se a r ch Tra ve le rs: Lo n e ly
s e a r ch » d e ve lo p me n t » t a s t in g fo o d » En g in e Pla n e t , yo u n g
O p t im iz a t io n , p ro fe ssio n a ls, 2 5 -
 Co n s u la t e Ho st Co mmu n it y Acce ss t o in t e ra ct io n So cia l M e d ia , Blo g s 3 8 yrs »
w e b s it e s fo r e a ch g ro wt h » a n d cu lt u ra l e xch a n g e »
co u n t r y » » Ho st s: ma le fo o d ie s,
Qu a lit y Assu ra n ce fo r
 KEEP: Z a p p o s - 4 0 - 6 0 yrs »
 H o t e l co n cie r g e h o st s a n d t ra ve le rs »  Pr o vid e s u n iq u e ,
lik e cu s t o m e r
» o ff-t h e -b e a t e n - Ho st s: Mid d le a g e d ,
s e r vice , o n lin e
p a t h e xp e rie n ce s » wo rkin g wo me n : 4 0 +
KEY RESOURCES CHANNELS
Tra ve l g u id e s a n d
»
we b sit e s (Lo n e ly  Tr u s t t h a t
Pla n e t , e xp e d ia , Hu ma n Ca p it a l: CTO, e xp e r ie n ce is n 't a So cia l n e t wo rks,
ka ya k.co m) » p ro g ra mme rs, s w in d le » b lo g g in g co mmu n it y »
cu st o me r se rvice ,
 Cr u is e s h ip Sa fe a n d in cre a se d We b sit e & Mo b ile Ap p
re g io n a l mg rs »
co m p a n ie s » a cce ss t o lo ca l a n d »
In t e lle ct u a l: cu st o me r a u t h e n t ic fo o d »
Re vie w we b sit e s Dire ct in -p e rso n a n d
d a t a b a se s a n d
(t rip a d viso r, ye lp ) » Acce ss t o me a n in g fu l p h o n e (via co mmu n it y
n e t wo rk: t ra d e ma rks,
t ra ve l e xp e rie n ce s re g io n a l mg r) »
co n t ra ct s »
COST STRUCTURE REVENUE STREAMS
Hu ma n re so u rce s, IT, e n g in e e rin g , d e sig n » Bro ke ra g e fe e , fixe d % p e r t ra n sa ct io n »
In su ra n ce » Me rch a n d isin g (co o kb o o ks, g u id e b o o ks, p o d ca st s) »
Ma rke t in g a n d Sa le s » Lice n sin g co n t e n t »
Ho st a cq u isit io n »

27. Week 3 Cent ral
LaunchPad
KEY PARTNERS KEY ACTI VI TI ES VALUE PROPOSI TI ONS CUSTOM RELATI ONSHI PS
ER CUSTOM SEG ENTS
ER M
Go o g le fo r se a rch » Te ch n ica l p la t fo rm Acce ss t o g o o d GET: PR, Se a rch Tra ve le rs: Lo n e ly
d e ve lo p me n t » t a st in g fo o d » En g in e Op t imiza t io n , Pla n e t , yo u n g
Co n su la t e we b sit e s
So cia l Me d ia , Blo g s » p ro fe ssio n a ls, 2 5 -
fo r e a ch co u n t ry » Ho st Co mmu n it y Acce ss t o in t e ra ct io n 3 8 yrs »
g ro wt h » a n d cu lt u ra l e xch a n g e KEEP: Z a p p o s-like
Cru ise sh ip
» cu st o me r se rvice , Ho st s: ma le fo o d ie s,
co mp a n ie s » Qu a lit y Assu ra n ce fo r
o n lin e co mmu n it y, 4 0 - 6 0 yrs »
h o st s a n d t ra ve le rs » Pro vid e s u n iq u e , o ff-
lo ya lt y re wa rd s »
Fo o d b lo g g e rs » t h e -b e a t e n -p a t h Ho st s: Mid d le a g e d ,
e xp e rie n ce s » wo rkin g wo me n : 4 0 +
Exp e rie n ce KEY RESOURCES CHANNELS
»
a g g re g a t o rs (Va ya b le , Tru st t h a t e xp e rie n ce
Via t o r) » isn 't a swin d le »  TEST: PARTN ERS
Hu ma n Ca p it a l: CTO, So cia l n e t wo rks,
p ro g ra mme rs, b lo g g in g co mmu n it y » Tr ip a d vis o r a n d
Sa fe a n d in cre a se d Via t o r »
cu st o me r se rvice ,
a cce ss t o lo ca l a n d We b sit e & Mo b ile Ap p
re g io n a l mg rs »
a u t h e n t ic fo o d » »
In t e lle ct u a l: cu st o me r
Acce ss t o me a n in g fu l  H o t e l co n cie r g e
d a t a b a se s a n d
t ra ve l e xp e rie n ce s »
n e t wo rk: t ra d e ma rks,
a n d cu lt u ra l e xch a n g e
co n t ra ct s »
COST STRUCTURE REVENUE STREAMS
Hu ma n re so u rce s, IT, e n g in e e rin g , d e sig n » Bro ke ra g e fe e , fixe d % p e r t ra n sa ct io n »
In su ra n ce » Me rch a n d isin g (co o kb o o ks, g u id e b o o ks, p o d ca st s) »
Ma rke t in g a n d Sa le s » Lice n sin g co n t e n t »
Ho st a cq u isit io n »

28. Week 4 Cent ral
LaunchPad
KEY PARTNERS KEY ACTI VI TI ES VALUE PROPOSI TI ONS CUSTOM RELATI ONSHI PS
ER CUSTOM SEG ENTS
ER M
Cru ise sh ip Te ch n ica l p la t fo rm Pro vid e s u n iq u e , o ff- GET: PR, Se a rch Tra ve le rs: Lo n e ly
co mp a n ie s » d e ve lo p me n t » t h e -b e a t e n -p a t h En g in e Op t imiza t io n , Pla n e t , yo u n g
e xp e rie n ce s » So cia l Me d ia , Blo g s » p ro fe ssio n a ls, 2 5 -
Fo o d b lo g g e rs » Ho st Co mmu n it y 3 8 yrs »
g ro wt h » Tru st t h a t e xp e rie n ce KEEP: Z a p p o s-like
Exp e rie n ce
isn 't a swin d le » cu st o me r se rvice , TEST: PARTNERS
a g g re g a t o rs (Va ya b le , Qu a lit y Assu ra n ce fo r
o n lin e co mmu n it y, Trip a d viso r a n d Via t o r
Via t o r) » h o st s a n d t ra ve le rs » Sa fe a n d in cre a se d
lo ya lt y re wa rd s » »
a cce ss t o lo ca l a n d
 To u r o p e r a t o r s » a u t h e n t ic fo o d »
KEY RESOURCES CHANNELS
Acce ss t o me a n in g fu l
Hu ma n Ca p it a l: CTO, t ra ve l e xp e rie n ce s So cia l n e t wo rks,
p ro g ra mme rs, a n d cu lt u ra l e xch a n g e b lo g g in g co mmu n it y »
cu st o me r se rvice , wit h lo ca ls »
We b sit e & Mo b ile Ap p
re g io n a l mg rs »
Re ve n u e st re a m fo r »
In t e lle ct u a l: cu st o me r wo me n in
d a t a b a se s a n d u n d e rd e ve lo p e d Ho t e l co n cie rg e »
n e t wo rk: t ra d e ma rks, n a t io n s »
Tra ve l g u id e s a n d
co n t ra ct s »
COST STRUCTURE REVENUE STREAMS
Hu ma n re so u rce s, IT, e n g in e e rin g , d e sig n » Bro ke ra g e fe e , fixe d % p e r t ra n sa ct io n »
In su ra n ce » Me rch a n d isin g (co o kb o o ks, g u id e b o o ks, p o d ca st s) »
Ma rke t in g a n d Sa le s » Lice n sin g co n t e n t »
Ho st a cq u isit io n »  Va r ia b le % fe e fo r d iffe r e n t ia t e d lu xu r y p r o d u ct b a s e d
o n ch a n n e l »

29. Week 5 Cent ral
LaunchPad
KEY PARTNERS KEY ACTI VI TI ES VALUE PROPOSI TI ONS CUSTOM RELATI ONSHI PS
ER CUSTOM SEG ENTS
ER M
Cru ise sh ip Te ch n ica l p la t fo rm Pro vid e s u n iq u e , o ff- GET: PR, Se a rch Tra ve le rs: Lo n e ly
co mp a n ie s » d e ve lo p me n t » t h e -b e a t e n -p a t h En g in e Op t imiza t io n , Pla n e t , yo u n g
e xp e rie n ce s » So cia l Me d ia , Blo g s » p ro fe ssio n a ls, 2 5 -
Fo o d b lo g g e rs » Ho st Co mmu n it y 3 8 yrs »
g ro wt h » Tru st t h a t e xp e rie n ce KEEP: Z a p p o s-like
Exp e rie n ce
isn 't a swin d le » cu st o me r se rvice , TEST: PARTNERS
a g g re g a t o rs (Va ya b le , Qu a lit y Assu ra n ce fo r
o n lin e co mmu n it y, Trip a d viso r a n d Via t o r
Via t o r) » h o st s a n d t ra ve le rs » Sa fe a n d in cre a se d
lo ya lt y re wa rd s » »
a cce ss t o lo ca l a n d
To u r o p e ra t o rs » a u t h e n t ic fo o d »  Tr a ve le r s :
KEY RESOURCES CHANNELS
Lu xu r y , 4 5 + »
Acce ss t o me a n in g fu l
Hu ma n Ca p it a l: CTO, t ra ve l e xp e rie n ce s So cia l n e t wo rks,
p ro g ra mme rs, a n d cu lt u ra l e xch a n g e b lo g g in g co mmu n it y »
cu st o me r se rvice , wit h lo ca ls »
We b sit e & Mo b ile Ap p
re g io n a l mg rs »
Re ve n u e st re a m fo r »
In t e lle ct u a l: cu st o me r wo me n in
d a t a b a se s a n d u n d e rd e ve lo p e d Ho t e l co n cie rg e »
n e t wo rk: t ra d e ma rks, n a t io n s »
Tra ve l g u id e s a n d
co n t ra ct s »
COST STRUCTURE REVENUE STREAMS
Hu ma n re so u rce s, IT, e n g in e e rin g , d e sig n » Bro ke ra g e fe e , fixe d % p e r t ra n sa ct io n »
In su ra n ce » Me rch a n d isin g (co o kb o o ks, g u id e b o o ks, p o d ca st s) »
Ma rke t in g a n d Sa le s » Lice n sin g co n t e n t »
Ho st a cq u isit io n » Va ria b le % fe e fo r d iffe re n t ia t e d lu xu ry p ro d u ct b a se d o n ch a n n e l
»

30. Week 6 Cent ral
LaunchPad
KEY PARTN ERS KEY ACTIVITIES VALU E PRO PO SITIO N S CUSTO M ER CU STO M ER SEGM EN TS
RELATIO N SH IPS
Cru ise sh ip Te ch n ica l p la t fo rm Pro vid e s u n iq u e , o ff- GET: PR, Se a rch Tra ve le rs: Lo n e ly
co mp a n ie s » d e ve lo p me n t » t h e -b e a t e n -p a t h En g in e Op t imiza t io n , Pla n e t , yo u n g
e xp e rie n ce s » So cia l Me d ia , Blo g s » p ro fe ssio n a ls, 2 5 -
Fo o d b lo g g e rs » Ho st Co mmu n it y 3 8 yrs »
g ro wt h » Tru st t h a t e xp e rie n ce KEEP: Z a p p o s-like
Exp e rie n ce
isn 't a swin d le » cu st o me r se rvice , TEST: PARTNERS
a g g re g a t o rs (Va ya b le , Qu a lit y Assu ra n ce fo r
o n lin e co mmu n it y, Trip a d viso r a n d Via t o r
Via t o r) » h o st s a n d t ra ve le rs » Sa fe a n d in cre a se d
lo ya lt y re wa rd s » »
a cce ss t o lo ca l a n d
To u r o p e ra t o rs » a u t h e n t ic fo o d » Tra ve le rs: Lu xu ry, 4 5 +
KEY RESO U RCES CHAN N ELS
»
Acce ss t o me a n in g fu l
Hu ma n Ca p it a l: CTO, t ra ve l e xp e rie n ce s So cia l n e t wo rks,
p ro g ra mme rs, a n d cu lt u ra l e xch a n g e b lo g g in g co mmu n it y »
cu st o me r se rvice , wit h lo ca ls »
We b sit e & Mo b ile Ap p
re g io n a l mg rs »
Re ve n u e st re a m fo r »
In t e lle ct u a l: cu st o me r wo me n in
d a t a b a se s a n d u n d e rd e ve lo p e d Ho t e l co n cie rg e »
n e t wo rk: t ra d e ma rks, n a t io n s »
Tra ve l g u id e s a n d
co n t ra ct s »
CO ST STRU CTU RE REVEN U E STREAM S
Hu ma n re so u rce s, IT, e n g in e e rin g , d e sig n » Bro ke ra g e fe e , fixe d % p e r t ra n sa ct io n »
In su ra n ce » Me rch a n d isin g (co o kb o o ks, g u id e b o o ks, p o d ca st s) »
Ma rke t in g a n d Sa le s » Lice n sin g co n t e n t »
Ho st a cq u isit io n » Va ria b le % fe e fo r d iffe re n t ia t e d lu xu ry p ro d u ct b a se d o n ch a n n e l
»

31. Week 7 Cent ral
LaunchPad
KEY PARTNERS KEY ACTI VI TI ES VALUE PROPOSI TI ONS CUSTOM RELATI ONSHI PS
ER CUSTOM SEG ENTS
ER M
Cru ise sh ip Te ch n ica l p la t fo rm Pro vid e s u n iq u e , o ff- GET: PR, Se a rch Tra ve le rs: Lo n e ly
co mp a n ie s » d e ve lo p me n t » t h e -b e a t e n -p a t h En g in e Op t imiza t io n , Pla n e t , yo u n g
e xp e rie n ce s » So cia l Me d ia , Blo g s » p ro fe ssio n a ls, 2 5 -
Fo o d b lo g g e rs » Ho st Co mmu n it y 3 8 yrs »
g ro wt h » Tru st t h a t e xp e rie n ce KEEP: Z a p p o s-like
Exp e rie n ce
isn 't a swin d le » cu st o me r se rvice , TEST: PARTNERS
a g g re g a t o rs (Va ya b le , Qu a lit y Assu ra n ce fo r
o n lin e co mmu n it y, Trip a d viso r a n d Via t o r
Via t o r) » h o st s a n d t ra ve le rs » Sa fe a n d in cre a se d
lo ya lt y re wa rd s » »
a cce ss t o lo ca l a n d
 Su p p lie r s : Xo la » a u t h e n t ic fo o d » Tra ve le rs: Lu xu ry, 4 5 +
KEY RESOURCES CHANNELS
»
 Tr a ffic p a r t n e rs Acce ss t o me a n in g fu l
(Lu xu r y ): t ra ve l e xp e rie n ce s
Hu ma n Ca p it a l: CTO, So cia l n e t wo rks,
Exp e r ie n ce a n d cu lt u ra l e xch a n g e
p ro g ra mme rs, b lo g g in g co mmu n it y »
a ggre ga t ors wit h lo ca ls »
cu st o me r se rvice ,
(Via t o r ); t o u r We b sit e & Mo b ile Ap p
re g io n a l mg rs »
o pe ra t ors Re ve n u e st re a m fo r »
(Im m e r s io n In t e lle ct u a l: cu st o me r wo me n in
J urn e ys) »
o d a t a b a se s a n d u n d e rd e ve lo p e d Ho t e l co n cie rg e »
n e t wo rk: t ra d e ma rks, n a t io n s »
To u r o p e ra t o rs » Tra ve l g u id e s a n d
co n t ra ct s »
COST STRUCTURE REVENUE STREAMS
Hu ma n re so u rce s, IT, e n g in e e rin g , d e sig n » Bro ke ra g e fe e , fixe d % p e r t ra n sa ct io n »
In su ra n ce » Me rch a n d isin g (co o kb o o ks, g u id e b o o ks, p o d ca st s) »
Ma rke t in g a n d Sa le s » Lice n sin g co n t e n t »
Ho st a cq u isit io n » Va ria b le % fe e fo r d iffe re n t ia t e d lu xu ry p ro d u ct b a se d o n ch a n n e l
»

32. Week 8 Cent ral
LaunchPad
KEY PARTNERS KEY ACTI VI TI ES VALUE PROPOSI TI ONS CUSTOM RELATI ONSHI PS
ER CUSTOM SEG ENTS
ER M
Su p p lie rs: Xo la » Te ch n ica l p la t fo rm Pro vid e s u n iq u e , o ff- GET: PR, Se a rch Tra ve le rs: Lo n e ly
d e ve lo p me n t » t h e -b e a t e n -p a t h En g in e Op t imiza t io n , Pla n e t , yo u n g
Tra ffic p a rt n e rs
e xp e rie n ce s » So cia l Me d ia , Blo g s » p ro fe ssio n a ls, 2 5 -
(Lu xu ry): Exp e rie n ce Ho st Co mmu n it y 3 8 yrs »
a g g re g a t o rs (Via t o r); g ro wt h » Tru st t h a t e xp e rie n ce KEEP: Z a p p o s-like
t o u r o p e ra t o rs isn 't a swin d le » cu st o me r se rvice , Tra ve le rs: Lu xu ry, 4 5 +
Qu a lit y Assu ra n ce fo r
(Imme rsio n J u rn e ys)
o o n lin e co mmu n it y, »
h o st s a n d t ra ve le rs » Sa fe a n d in cre a se d
» lo ya lt y re wa rd s »
a cce ss t o lo ca l a n d
a u t h e n t ic fo o d »
KEY RESOURCES CHANNELS
Acce ss t o me a n in g fu l
Hu ma n Ca p it a l: CTO, t ra ve l e xp e rie n ce s So cia l n e t wo rks,
p ro g ra mme rs, a n d cu lt u ra l e xch a n g e b lo g g in g co mmu n it y »
cu st o me r se rvice , wit h lo ca ls »
We b sit e & Mo b ile Ap p
re g io n a l mg rs »
Re ve n u e st re a m fo r »
In t e lle ct u a l: cu st o me r wo me n in
d a t a b a se s a n d u n d e rd e ve lo p e d Tra ve l g u id e s a n d
n e t wo rk: t ra d e ma rks, n a t io n s » we b sit e s (Lo n e ly
co n t ra ct s » Pla n e t , e xp e d ia ,
COST STRUCTURE REVENUE STREAMS
Hu ma n re so u rce s, IT, e n g in e e rin g , d e sig n » Bro ke ra g e fe e , fixe d % p e r t ra n sa ct io n »
In su ra n ce » Me rch a n d isin g (co o kb o o ks, g u id e b o o ks, p o d ca st s) »
Ma rke t in g a n d Sa le s » Lice n sin g co n t e n t »
Ho st a cq u isit io n » Va ria b le % fe e fo r d iffe re n t ia t e d lu xu ry p ro d u ct b a se d o n ch a n n e l
»

33. Week 9 Cent ral
LaunchPad
KEY PARTNERS KEY ACTI VI TI ES VALUE PROPOSI TI ONS CUSTOM RELATI ONSHI PS
ER CUSTOM SEG ENTS
ER M
Su p p lie rs: Xo la » Te ch n ica l p la t fo rm Pro vid e s u n iq u e , o ff- GET: PR, Se a rch Tra ve le rs: Lo n e ly
d e ve lo p me n t » t h e -b e a t e n -p a t h En g in e Op t imiza t io n , Pla n e t , yo u n g
Tra ffic p a rt n e rs
e xp e rie n ce s » So cia l Me d ia , Blo g s » p ro fe ssio n a ls, 2 5 -
(Lu xu ry): Exp e rie n ce Ho st Co mmu n it y 3 8 yrs »
a g g re g a t o rs (Via t o r); g ro wt h » Tru st t h a t e xp e rie n ce KEEP: Z a p p o s-like
t o u r o p e ra t o rs isn 't a swin d le » cu st o me r se rvice , Tra ve le rs: Lu xu ry, 4 5 +
Qu a lit y Assu ra n ce fo r
(Imme rsio n J u rn e ys)
o o n lin e co mmu n it y, »
h o st s a n d t ra ve le rs » Sa fe a n d in cre a se d
» lo ya lt y re wa rd s »
a cce ss t o lo ca l a n d
a u t h e n t ic fo o d »
KEY RESOURCES CHANNELS
Acce ss t o me a n in g fu l
Hu ma n Ca p it a l: CTO, t ra ve l e xp e rie n ce s So cia l n e t wo rks,
p ro g ra mme rs, a n d cu lt u ra l e xch a n g e b lo g g in g co mmu n it y »
cu st o me r se rvice , wit h lo ca ls »
We b sit e & Mo b ile Ap p
re g io n a l mg rs »
Re ve n u e st re a m fo r »
In t e lle ct u a l: cu st o me r wo me n in
d a t a b a se s a n d u n d e rd e ve lo p e d Tra ve l g u id e s a n d
n e t wo rk: t ra d e ma rks, n a t io n s » we b sit e s (Lo n e ly
co n t ra ct s » Pla n e t , e xp e d ia ,
COST STRUCTURE REVENUE STREAMS
Hu ma n re so u rce s, IT, e n g in e e rin g , d e sig n » Bro ke ra g e fe e , fixe d % p e r t ra n sa ct io n »
In su ra n ce » Me rch a n d isin g (co o kb o o ks, g u id e b o o ks, p o d ca st s) »
Ma rke t in g a n d Sa le s » Lice n sin g co n t e n t »
Ho st a cq u isit io n » Va ria b le % fe e fo r d iffe re n t ia t e d lu xu ry p ro d u ct b a se d o n ch a n n e l
»

34. Week 10 Cent ral
LaunchPad
KEY PARTNERS KEY ACTI VI TI ES VALUE PROPOSI TI ONS CUSTOM RELATI ONSHI PS
ER CUSTOM SEG ENTS
ER M
Su p p lie rs: Xo la » Te ch n ica l p la t fo rm Pro vid e s u n iq u e , o ff- GET: PR, SEO, So cia l Tra ve le rs: Lo n e ly
d e ve lo p me n t » t h e -b e a t e n -p a t h Me d ia , Blo g s » Pla n e t , yo u n g
Tra ffic p a rt n e rs
e xp e rie n ce s » p ro fe ssio n a ls, 2 5 -
(Lu xu ry): Exp e rie n ce Ho st Co mmu n it y KEEP: Z a p p o s-like 3 8 yrs »
a g g re g a t o rs (Via t o r); g ro wt h » Tru st t h a t e xp e rie n ce cu st o me r se rvice ,
t o u r o p e ra t o rs isn 't a swin d le » o n lin e co mmu n it y, Tra ve le rs: Lu xu ry, 4 5 +
Qu a lit y Assu ra n ce fo r
(Imme rsio n J u rn e ys)
o lo ya lt y re wa rd s » »
h o st s a n d t ra ve le rs » Sa fe a n d ve t t e d lo ca l
»
a n d a u t h e n t ic fo o d » GROW: Re fe rra l
KEY RESOURCES CHANNELS
Me a n in g fu l
in t e ra ct io n s wit h
Hu ma n : lo ca ls (in En g lish ) » So cia l n e t wo rks,
CTO/e n g in e e rs, b lo g g in g co mmu n it y »
Re ve n u e st re a m fo r
cu st o me r se rvice ,
wo me n in We b sit e & Mo b ile Ap p
re g io n a l mg rs »
u n d e rd e ve lo p e d »
In t e lle ct u a l: cu st o me r n a t io n s »
d a t a b a se s (h o st s a n d Tra ve l g u id e s a n d
Ne e d t o a vo id we b sit e s (Lo n e ly
t ra ve le rs); t ra d e ma rks
lo n e lin e ss » Pla n e t , e xp e d ia ,
»
COST STRUCTURE REVENUE STREAMS
Hu ma n re so u rce s, IT, e n g in e e rin g , d e sig n » Me rch a n d isin g (co o kb o o ks, g u id e b o o ks, p o d ca st s) »
In su ra n ce » Co mmissio n (va ria b le b a se d o n p ro d u ct o ffe rin g ) »
Ma rke t in g a n d Sa le s » Lice n sin g co n t e n t »
Ho st a cq u isit io n » Bro ke ra g e fe e , fixe d % p e r t ra n sa ct io n »
Ho st list in g fe e »
Li c e n se d fr o m b u si n e ssm o d e lg e n e r a t i o n .c o m u n d e r a Cr e a t i ve Co m m o n s At t r i b u t i o n -S h a r e Al i ke 3.0 Un p o r t e d Li c e n se

35. Week 10 (expanded)
LaunchPad Cent ral
VALU E PROPOSI TI ON S CU STOM ER RELATI ON SH I PS CU STOM ER SEGM EN TS
Provides u nique , off-th e-b eaten -path GET: PR, SEO, Social Media, Blogs » Travelers: Lo nely Planet, yo ung
e xp erien ces » profession als, 25 - 3 8yrs »
KEEP: Z appo s-like custo mer service,
Trust that e xp erien ce isn't a swindle » online co mmu nity, loyalty rewards » Travelers: Lu xu ry, 45+ »
Safe and ve tted local and au then tic GROW: Refe rral rewards, Pre mium ad d-
fo od » ons, Prom otions »
Me aningfu l interactio ns with locals (in
English) »
Reven ue stream fo r wome n in
u nde rdevelop ed n ations »
Need to avoid lo neliness »
Intuitive user experie nce with e ase of
CH AN N ELS
se arching , postin g, rese rving and
p ayin g »
Social ne tworks, blo gging co mmu nity »
Need to sh owcase culinary skills »
Web site & Mob ile App »
Travel gu ides and websites (Lonely
Planet, exped ia, kayak.co m) »
Re view web sites (tripadvisor, yelp) »
Direct in-perso n and phon e (via
comm unity re gional m g r) »
 T ou r o pe r ato r s/DMCs »
 Expe r ie n ce ag g r e gat o r s
(V iat o r ) »
Li c e n se d fr o m b u si n e ssm o d e lg e n e r a t i o n .c o m u n d e r a Cr e a t i ve Co m m o n s At t r i b u t i o n -S h a r e Al i ke 3.0 Un p o r t e d Li c e n se

36. Week 10 (expanded)
LaunchPad Cent ral
KEY PARTN ERS KEY ACTI V I TI ES
Supp liers: Xola » Te chnical platform de ve lo pme nt »
Traffic partners (Luxury): Experien ce agg regators (Viator); Host Comm unity growth »
tour operators (Immersio n J ourneys) »
Quality Assurance fo r hosts and travelers »
Legal + regulato ry »
PR »
KEY RESOU RCES
Human: CTO/engin eers, cu stom er se rvice , regio nal mgrs »
Inte llectual: custom e r datab ases (h osts an d trave le rs);
trademarks »
Financial: workin g capital ne ede d to scale »

37. Week 10 (expanded)
LaunchPad Cent ral
COST STRU CTU RE REV EN U E STREAM S
Hum an reso urce s, IT, eng in eering , design » Merchand ising (coo kbooks, guideb ooks, p odcasts) »
Insu rance » Comm ission (variable base d on prod uct o ffering ) »
Marketing and Sale s » Licensing conte nt »
Host acquisition » Brokerage fe e, fixe d % p er transaction »
Host listing fe e »

38. Key Metrics that Matter
Customer Lifetime Value
Customer Acquisition Cost
Revenue/customer $75
Salary (sales): $40,000
COGS $40
Channels/wk: 5
Gross margin $35 Channels/yr: 240
Conversion: 5%
Partners/yr: 12
Customer/partner: 100
# of TS experiences/year 1 Customers/yr: 1200
Retention rate 85% YR 1, 85% YR 2, 50% YR 3
Cost/customer: $40,000/2400
Average TS lifetime 15 years
Average visits per lifetime 3.3
CLV = $115.3 CAC = $33.30

39. Burn rate assumptions
Operating cost YR 1 YR 2 YR 3 YR 4
YR 1 Salary & Benefits: 2 Co-Founders $150,000 $240,000 $370,000 $370,000
Operating costs = Salary & Benefits: CTO
Salary & Benefits: Engineering
$120,000 $150,000
$120,000
$150,000
$360,000
$165,000
$600,000
$491,000 Salary: customer support $35,000 $50,000 $80,000 $100,000
Salary: regional manager $30,000 $60,000 $90,000 $120,000
Total SG&A $335,000 $620,000 $1,050,000 $1,355,000
Marketing & PR $75,000 $120,000 $160,000 $160,000
Travel host acquisition $25,000 $35,000 $45,000 $45,000
Legal fees $15,000 $80,000 $50,000 $50,000
Liability insurance $20,000 $30,000 $50,000 $100,000
IT (Est. using Heroku) $4,476 $12,000 $24,000 $50,000
Supplier (Xola) $2,000 $4,000 $4,000 $4,000
Total contractual fees $141,476 $281,000 $333,000 $409,000
Office space rent $50,000 $75,000 $75,000
Office equipment $10,000 $15,000 $15,000 $15,000
Utilities $5,000 $10,000 $15,000 $15,000
Total office related expenses $15,000 $75,000 $105,000 $105,000
Annual burn rate $491,476 $976,000 $1,488,000 $1,869,000
Sources for cost estimates:
https://blog.wealthfront.com/startup-employee-equity-compensation/
http://www.heroku.com/pricing

40. Competitive Landscape
Local Tour Experience Substitutes
Home Dinner
Companies Aggregators (the forks)
 Most direct  Local and  Connecting with  Existing
competition regional tour locals restaurants
 Aggregating companies  Provide social  Family and
kitchens and based in our travel experiences friends
shared food geographies  Potential partners
experiences
 Many US-focused;
other direct
competitors have
regional focus
(Israel, Spain)