This document summarizes an accounting software called inDinero. It was founded in 2010 by Andy Su and Jessica Mah to provide an automated solution for small businesses to track their finances without needing accounting expertise. The product downloads transaction data from banks and cards to categorize expenditures and forecast cash flow. It has over 3,000 users and $300M in tracked transactions. The founders aim to partner with banks and accountants for user acquisition and build features for tax filing and bill pay.

1. Accountants use accounting software.
Businesses use inDinero.
Founders: Andy Su and Jessica Mah
Website: www.indinero.com
Summer 2010

2. Problems
Business owners don’t do accounting
90% of our users have never tried using QuickBooks before
Business owners don’t plan their finances
“How much cash do I have now and will I have on date x?”
No automated solution to tracking finances
QuickBooks + Excel are still manual ways to record transactions.

3. Over 27 Million Registered Businesses in the US (sba.gov)
Over 22 “Micro” Businesses (1-2 employees)
= 49M Potential Domestic U.S. Customers
!
Current 1YR CustomerValue = $530 ($48/m*12) * 49M potential customers
= $26B U.S. Revenue TAM (*doesn’t include international customers)
Market is Enormous

4. 0
50000000
100000000
150000000
200000000
June 20 July 1 July 10 July 20 July 30
TransactionalVolume ($)
Great Results
> $300M being tracked
3,000+ Businesses Signed Up
!
Customers include...

5. Live Demo: https://indinero.com/demo
Product
Automatically downloads data from
banks, credit cards, PayPal.
Our customers said:
Don’t build accounting features.
Purchased QuickBooks only b/c of
accountant recommendation.
So we:
Targeted online businesses with little
to no accounting needs.
Launched product, partnered with
FreshBooks, and found happy
customers.

6. Team
Jessica Mah (co-founder/CEO/architect)
!
- Computer Science grad from U.C. Berkeley at age 19
- Founded internshipIN.com w/ Andy Su in college
- Member of TED Conference, featured in Inc, BusinessWeek, PBS, etc...
Andy Su (co-founder/CTO)
!
- Computer Science grad from U.C. Berkeley at age 18
- Founded internshipIN.com w/ Jessica Mah in college
- Won state and national awards in mathematics and science
Borden Liu
!
- Lead Engineer at inDinero
- Server/Scaling Background
- LeftVMware to join inDinero
Christine Zhang
!
- coLead Engineer at inDinero
- Security Background
- Was Jessica/Andy’s grader :)

7. Key Technology
Consolidation of all financial accounts
Integration w/ 5000+ banks, credit cards, PayPal
Transaction Categorization AI
With > 100,000 transactions, this is improving by the day.
Automatic Forecasting
Predicting the future of a business’ finances based on historical data

8. Competition
Sole Proprietors Accountants
Quickbooks:
- Difficult to setup, difficult to learn
- Most features go unused
- Weak online offering
- Good case study for collaborating
with accountants + bookkeepers
Outright:
- Focus on self-employed people.
(ie part-time consultants or sellers)
- Focus on basic bookkeeping
functions, filing 1099 and Schedule C
Most businesses don’t do accounting

9. User Acquisition
Accountants/Bookkeepers
Viral effects: clients invite their accountants, and each accountant has 20-200 clients they can potentially
invite to inDinero.
!
!
!
Banks and Financial Institutions
Currently working on potential partnership with American Express OPEN.
!
!
!
Online Seller Communities
Most passionate inDinero users are sellers via PayPal, eBay, Etsy, etc..
!
!
!
SEO/SEM/Inbound Marketing
Content drives traffic/signups. Will experiment with paid advertising, ie adwords.

10. Forecast
Current Q3 2010 Q4 2010 Q1 2011
Product Forecasting, Core
Product
Features tailored
to accountants
Goals, Improved Trends,
Industry Comparisons
Taxes Management,
iPhone App, Bill Pay
Team 4 People 4 People 5 People 6 People
Burn
(monthly)
$5k
$10k
$18k $25,000
Users
+ est. yearly
revenue

11. Monetization
Freemium Tiered Pricing Structure
$29/month for 50-500 transactions, $99/month for Unlimited transactions
Conversion to paid = ~ 4%
Estimated Customer LifetimeValue = ~ $530
20% of upgrades are on the $99/month plan, CLV is based on user being
retained for 12 months.
!
Funnel Economics:
1000 users -> 40 upgrades -> $21,200
Cost effective to acquire users at < $20/user

12. inDinero is the next Intuit.
• Monetization Model that Works: For every 1,000
businesses that sign up, we earn ~$21,200 in CLV.
• Unique IP: Machine learning algorithm for categorizing
transactions and forecasting finances.
• Customers who love us:
“inDinero is hands down the single cashflow tool for
businesses on the planet” ...“inDinero is 99% of
everything I would want” ...“QuickBooks takes care of
the IRS, but inDinero takes care of your business.”

13. Incredible Investors
David Wu,
Intuit/Homestead
Jeremy Stoppelman
Founder/CEO, Yelp.com
Jawed Karim
Founder, YouTube
Elad Gil
Director of Geo,Twitter
Keith Rabois
PayPal/Slide
Kevin Hartz
Founder/CEO, Eventbrite

14. ..Incredible Investors
Jude Gomila
Founder, HeyZap
Andrew Warner
Founder, Mixergy
Christina Brodbeck
YouTube/Pickv
Fritz Lanman
Director of M&A, Microsoft
Paige Craig
Angel Investor
Dave McClure
500Startups

15. ....Incredible Investors
Ben Ling
Google/YouTube
Geoff Ralston
CEO, Lala
Steve Blank
Professor, Berkeley+Stanford
Craig Schmitz
Counsel, inDinero
Michael Powers
YouTube/Google
Karl Jacob
Founder/CEO, Coveroo