AudioFav is a mobile app that allows users to attach audio to photos, capturing the full experience beyond just a visual image. It aims to provide a more convenient way to share memories with others compared to photos alone or full videos. The app is being developed by Quadsquad, a team with experience in data analysis, software development, and product launch. They plan to initially release a free basic version with optional in-app purchases and subscriptions to generate over $700k in first year revenue. However, they face risks in acquiring sufficient talent and users to succeed in the competitive photo app market. Based on early feedback, potential users see value in AudioFav for recording lessons, notes, and fully documenting experiences.

1. AudioFav – Give Voice to Your Memories
AudioFav Give Voice to Your Memories
“Visual images are more distinctive when matched with a second sense”
Michael Lindstrom “A Sense of Wonder”
“Our mood will increase by up to 65% if we are exposed to a positive sound”
The BRAND sense research study
“Tell me and I’ll forget. Show me and I might remember. Involve me and I’ll understand”
Benjamin Franklin
Quadsquad
Prepared for Venture Lab, August 2012

2. 01 ‐ AudioFav
AudioFav is a mobile app that allows you to attach a second sensory dimension, sound,
to your images.
Problem: Photos and captions fail to capture the ‘Experience’ of a moment
and video is too much of a production and cannot capture a spontaneous
moment.
Solution: AudioFav allows a user to easily capture and save an ‘Experience’
with sounds and images. Multiple images with sound can convey the same
experience as a video over a longer period of time while using less resources.
experience as a video over a longer period of time while using less resources
AudioFav is the initial product; our group will release a series of multi‐sensory based
applications over time. Our goal is to give users the tools to build emotional and
expressive content from multi‐sensory channels.

3. 02 – The AudioFav Team
Our team met during the Venture Lab course and have developed a close working
relationship. With varied expertise and interest across many industries and disciplines,
the team is ready to take on the challenge of launching AudioFav.
Dennis Chandler – Chief Executive Officer
Experience with matching data to human actions and tendencies
from work with airline crash investigations and military flight test.
Expertise in statistics and data analysis. Currently improving skill set
Expertise in statistics and data analysis Currently improving skill set
by adding ability to code in Octave, R, and Python.
Jaya Polumuru – Chief Technology Officer
Experience with developing and deploying web software for over
p p g p y g
8 years. Expertise in backend development and a recent foray into
mobile app/web development. Have been instrumental in
product development, launch, and post‐launch support roles.

4. 03 – The Product Vision
A first time user enters AudioFav and can immediately start experiencing ‘Favs
through the discovery screen. Once a user registers, they can immediately start
creating emotional images and share them across multiple platforms.
App Economics
Component Price Point Supplier Design Status
Main App Free ($1.99 Ad Free) AudioFav Beta
Basic Free Aviary & Pre‐Alpha
Filters/Effects AudioFav
Advanced Filters $1.00 / Six Pack Various Pre‐Alpha
Ringtone $0.99 per Ringtone
$0 99 per Ringtone Various Pre‐Alpha
Generator
Development Servers Business
(1 yr Timeframe) Development
$3750 / Month $375 / Month $500 / Month

5. 04 – The Market: Large and Growing Primary User Base
Segments (Discovered via
Surveys and Interviews)
• Mothers w/ Young Children
• Note Dictation Users
• Language Educators
• Language Learners
Customer Acquisition (Get Content on Sites and Noticed)
Customer Acquisition (Get Content on Sites and Noticed)
1. Using AudioFav’s to Comment in Prominent Blogs/News Sites when Content
Matched the Benefits of AudioFav.
2. Posting AudioFav’s by Identifying and Recruiting Individuals to Create Content
with Early Versions of the App.

6. 05 – Market Characteristics
1600+ Survey in the US and Europe on Photo Trends
• 73% take photos to share experiences with family and friends
• Just 25% of photos taken are enhanced (filters, effects, etc…)
• 83% Enhance on Computers
• 11% Enhanced on Smartphones
#1 Reason for sharing More: Easier and More Convenient Now with Technology
#1 Reason for Sharing Less: Less Time Available to Share
Users want to Share the Experience
U t t Sh th E i
Multiple Sensory Inputs Better Express the Experience
• Users currently using multiple photos and/or captions, but that takes time…
y g p p p
• Video can capture multiple sensory inputs, but hard to capture real‐time without
preparation…
Source: The 2012 Accenture Consumer Electronics Products and Services Usage Report

7. 06 – The Market – Opportunity and Competition
Competition: Most apps have concentrated on only photos, while the new ones are
trying to break into video. Two other applications are trying to merge images with
audio, but only in a limited way.
audio but only in a limited way
Competitive Price AudioFav Differentiation AudioFav Features Beyond
Product Point Competitions Ability
Picle Free Mobile Editing instead of Can Edit Days, Months, or
Desktop Only Years Later
Story Mark Free Ability to Merge Content Connected to Other Social
from Multiple Users Networks Instead of Only Itself
Our plan: AudioFav will allow users to share and grow the experience over time.
With audio comments, users can add to the photo and experience by not only
g
contributing their words, but their voice and sounds.

8. 07 – Pricing
App industry survey of 475 existing photo apps reveals that 47% are primary used to
enhance photos, while another 23% are used to ‘combine’. Of the 475 apps surveyed,
249 (52%) are not free.
33% of the 475 (157) have in‐app‐purchasing (iap), with an average of 3% using iap.
Source: 2012 6Sight Social Imaging Survey: Photo/Video App Market Analysis

9. 08 – 1st Year Revenue Model
Target is 1,000,000 downloads
• 85% Free Version
• 15% Paid at $1 99 => $298 500
15% Paid at $1.99 => $298,500
3% of user base will average one $14.00 In‐App‐Purchase for $420,000
End of First Year Revenue to be ~ $720,000
App will then expand into offering T.V./Movie Quotes via Hark
Ringtone generation will be on‐going due to constantly updated user content, and
will become less dependent on filter/effects purchases
Source: http://www.foundersspace.com/business /in‐app‐purchasing‐on‐ios‐and‐android‐freemium‐games/

10. 09 – Risks
Talent: AudioFav team initially started with four members, but due to attrition
there are currently two members. Currently the team needs:
• Mobile Platform Developer(s)
• UX/UI Designer(s)
UX/UI Designer(s)
Financial: How do we fund the development before release and it starts generating
revenue? We will need to spend some funds to get content creation started and
for the content to get moving on social sites.
Market/Customer Acquisition: How do we get people to use AudioFav? There are
over 475 photo apps out there, however only two others do anything with sound.
AudioFav needs to be simple to sign up for and to use on a regular basis. Need to
develop the UX/UI such that it creates a Habit.
d l th UX/UI h th t it t H bit

11. 10 – Market Response
Comments from interviews and surveys based on the initial MVP
(http://23.23.238.180/VCMockup/Home.html)
‘I would love an app like this. I have a 6 year (old) and it would be wonderful to
‘I ld l lik thi I h 6 ( ld) d it ld b d f lt
capture the full moment.’
‘
‘I would use it in my classroom with my English Learner students.’
‘I would use it to take visual/audio notes for myself while on the road. Something
like a visual/audio Evernote.’
‘If I was taking photos as part of a photography course or some more formal
situation and I had to annotate what I was photographing, say in a biology study
this would be useful.’
‘Interesting.... I wont buy a voice recorder separately anymore.’
‘A picture speaks a thousand words why not let it actually do it :D.’

12. 11 – Contact
Dennis Chandler
Dennis Chandler
Quadsquad
info@audiofav.com