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Borde.rs investor pitch
- 2. DISCOVERING LOCAL NEWS ONLINE IS HARD Content is fractured • 56% of local news via search engines Publishing local content is hard Until smartphones, user location was unknown • Poor support for tagging content as local • Poor mechanisms to reach local audience 2
- 3. BORDE.RS OVERVIEW iPhone app • Android + iPad (Jan 2014) Uses location to aggregate local stories, listings, classifieds from the web Users can post their own stories, which are pushed to nearby users Emphasizes sharing throughout News items appear as cards on boards e.g. news, jobs • Next step is socializing the stories 3
- 5. BORDE.RS COMPONENTS Clients • • • • iOS Android in January Email digests in January Desktop prototype available (no release scheduled) Server side • Scraping (of local content) • Socialization (of local content) • Personalization (AI driven, 2014) 5
- 6. ROADMAP Seeding Marketable SEO • iPhone • Simple aggregation • Sharing • • • • • • Desktop version • iPhone • Spin out apps • Simple aggregation e.g. jobs app • Sharing • Town pages & publishing to social networks Android + iPad Embedded browser FB login Email digests Push notifications Seeding Better cards • • • • Multiple images Video Socialized content Widgets e.g. “call me”, “Find me” 6
- 7. GO TO MARKET Valuable to single users Break dependence on network effects by providing value to a single user through scraped & personalized content, allowing communities to use borde.rs to build super easy, highly local websites. Valuable to single town Community manager directly pitching borde.rs to local communities, and manually creating local content. Aim is to create a single highly engaged town through which we refine messaging, use-cases & demographic.. 7
- 8. GO TO MARKET Engineering virality • Sharing thru email, FB, Twitter • Repackage borde.rs with heavy SEO for specific markets e.g. “Jobs borde.rs”, “Alabama borde.rs” • Cards & bords generate highly SEO-ed web pages that carry links to app • Broadcast all new manual cards on social networks with # tag <town name> • Accessible & useful to everyone e.g. desktop, subscribe to email digests • Relentless experimentation & hacks 8
- 9. CASE STUDY: US LOCAL ADVERTISING “Local media has become a key channel, not only for local small businesses, but for regional businesses, national franchises and national brands targeting locally … This is clearly seen in our tracking of market shifts in mobile, social, search, promotions, coupons and deals, native ads and sales transformation.” Mark Fratrik, vice president and chief economist, BIA/Kelsey With newspapers and local Yellow Pages in decay, much of the $132 billion local U.S. ad market is in play. Alex Kantrowitz, Adage 9
- 10. CASE STUDY: UK LOCAL ADVERTISING • 33% of UK adults use local news daily, 66% weekly • 28% of people that access local news, have an app for the purpose • Consumers of local news are more affluent • Use cases demarcated by age group • 23% of local media users have „contributed‟ to local media. 10% have authored content. Source Nesta in report, “UK Demand for Hyperlocal Media”, April 2013 10
- 11. REVENUE MODEL Focused on user acquisition initially, but… Near term: affiliate marketing of scraped content • E.g. Ebay pays $30 for reactivated users & 30¢ per buy from click throughs • All UK supermarkets offer affiliate programs that we can tie to proximity • Coupon & Daily deals from Yelp, Groupon etc Long term: disrupt direct mail marketing • Direct marketing represents 53% of US ad spend & 8.4% of GDP • Demonstrations of borde.rs prototype have prompted (unsolicited) offers of ad spend, by firms that want to „own‟ a locale by sector 11
- 12. COMPETITORS Established Emergent • • • • • • • • • Facebook, Email lists Craigslist, Gumtree Twitter, Tumblr Meetup Foursquare, Yelp, Factual Circle, StreetPin, Commune, ticl.me NextDoor, Streetlife? Yardsale, Quickable, Rumgr, Ribbon Paper.li, Patch 12
- 13. FOUNDING TEAM Jasper Westaway Product Ben Moseley Engineering Jasper was founder and CEO at oneDrum, acquired by the Yammer division of Microsoft in 2012. oneDrum enabled MS Office as a real time, collaborative environment. Previously he was on the founding team of Enigmatec (acquired by iWave, then EMC) running product management, then professional services. Ben has been coding since 10, and has worked for NeXT, Apple, IBM, and multiple investment banks. In recent years he has been an important member of the Haskell community. His work has directly influenced a new generation of languages such as Clojure. Jasper loves mountain biking and researching, making & drinking cocktails. Ben is a keen runner and black belt Aikido fighter and teacher. Phil Rees Design Phil is a highly accomplished designer, artist and musician. He was a founder member of the art and music collective Fantastic Super Heroes, collaborating with artists such as Banksy. His band, Aspects, supported Public Enemy. Phil specializes in design for the music & youth markets, and has worked with a number of startups to create beautiful and effective products. Phil is a keen cyclist and photographer. 13
- 14. FUNDING GOALS $350k Q1 2014 Bootstrapped to first release • • • • 4 engineers + designer community manager $3k/month marketing budget $49,000 burn / month $650k end 2014 14
- 15. VISION To create the world‟s most popular local newspaper http://www.borde.rs https://itunes.apple.com/app/borde.rs/id736749945 15