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Redfin for Weddings
We are building a two-sided marketplace,
     connecting brides and venues
Team




Jeff Lu                                  Conan Jen                             Kim Dowd
Hustler                                  Hacker                                Designer

Founded and sold a start-up              While in high school, ran one of      8 years as a designer including
(Blogupload.com)                         the largest file sharing networks.     AOL, Hearst & NY TImes.
during college.
                                         Played solo piano at Carnegie Hall.   Instructor of design,
Technology investment banking                                                  Carnegie Mellon University.
                                         University of Massachusetts,
Ran BrokersWeb affiliate program, a ppc   Electrical Engineering                Design research recently
insurance ad network. Grew revenues                                            published in a book. Adobe
from $100k to $500k in 10 months.                                              Achievement Award for design.

Emory, Finance                                                                 CMU, Masters in
                                                                               Interaction Design

                                                                                                                 1
Investors           &
Advisors




     Dave McClure       Justin Caldbeck


                                          Jenny Lefcourt




                                                           2
Opportunity
Lead generation for large infrequent consumer purchases
is moving from Cost Per Listing towards CPA & Agencies.


                                        Cost per Listing / Leads                                 CPA / Agency


        Insurance
                                                        *$205M                                       ENTH: $944M




       Real Estate
                                                       Z: $944M                                          **$227M




        Weddings
                                                     XOXO: $257M




* Acquired by Bankrate in July 2010 from Spectrum Equity Investors
**A sale of stock on Sharespost in January 2011 was at $1.75/share for an estimated valuation of $227M             3
Market Size




 2M
 weddings per year
                       $28k
                     x average amount   =        $56B
                                                 per year
 in the US               per wedding

                                            40%
                                            venue & catering




                                            60% photography,
                                            entertainment,
                                            flowers, attire, planner, gifts,
                                            invitations, beauty...

                                                                         4
Problems Brides Face

contact and visit venues to get basic info

it fills up every weekend for a year




                                             5
Problems     Venues
Face
 pay thousands upfront for listings annually

 ROI unknown

 80% of leads are disqualified   (mismatch in price, date, package or venue




                                                            ?
 $$$$$                                                    Leads


                                                                             6
Daily Aisle Solution

 Brides     search   Daily Aisle




VALUE PROPOSITIONS

Discover & Search

Only place to
search by date,
features, head
count

Explore package
details and price



                                   7
Daily Aisle Solution

                                           Daily Aisle       informs   Venue Manager
SNAPSHOT    COMMUNICATION   BILLING   VENUE INFO   ACCOUNT
analytics    page views



Analytics


                                                                       VALUE PROPOSITIONS


                                                                       Highly targeted leads

                                                                       No Risk - pay per
                                                                       booking

                                                                       Performance analytics

                                                                       Maximize revenue -
                                                                       yield management



                                                                                            8
Daily Aisle Solution




                 searches                           helps




VALUE PROPOSITIONS          VALUE PROPOSITIONS         VALUE PROPOSITIONS


Discover & Search           % Booking Fee              Highly targeted leads

Only place to               SaaS add-ons for           No Risk - pay per
search by date,             venues                     booking
features, head
count                       Expansion or lead gen      Performance analytics
                            down channel to other
Explore package                                        Maximize revenue -
                            wedding categories
details and price                                      yield management



                                                                            9
Expansion to Other Verticals
The lifetime value of each customer is >$1,000
We will partner with existing affiliate programs (ex: Macy’s registry)
and add verticals to current search functions (i.e. Transportation)

 $12B




              $7B


            $50-$500
                            $4B          $4B
                                                   $3B       $3B              $3B
                          $50-$250
                                                                                           $2B
                                                              10-12
 ~$150                                                          %             ~10%


  ~$300                                                        12-15                        ~20%
              $100           15%           6%
                                                                 %

Registry   Photography   Entertainment   Flowers   Attire   Invitations   Transportation   Rentals

                                                                                                1
                                                                                                0
Progress
After 2 weeks of open beta:
35+ Venues in San Francisco
20+ in Napa, Sonoma & Carmel
$16M in Inventory
1000 Bay Area brides in 2 weeks
30 Leads




                                  1
                                  1
Plan
first...
venues in the Bay area

then...
venues in LA and NYC

also...
exclusive access to
non-traditional venues
“airbnb for weddings”




                         1
                         2

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)#($%#)$*%)(#$*%

  • 1. Redfin for Weddings We are building a two-sided marketplace, connecting brides and venues
  • 2. Team Jeff Lu Conan Jen Kim Dowd Hustler Hacker Designer Founded and sold a start-up While in high school, ran one of 8 years as a designer including (Blogupload.com) the largest file sharing networks. AOL, Hearst & NY TImes. during college. Played solo piano at Carnegie Hall. Instructor of design, Technology investment banking Carnegie Mellon University. University of Massachusetts, Ran BrokersWeb affiliate program, a ppc Electrical Engineering Design research recently insurance ad network. Grew revenues published in a book. Adobe from $100k to $500k in 10 months. Achievement Award for design. Emory, Finance CMU, Masters in Interaction Design 1
  • 3. Investors & Advisors Dave McClure Justin Caldbeck Jenny Lefcourt 2
  • 4. Opportunity Lead generation for large infrequent consumer purchases is moving from Cost Per Listing towards CPA & Agencies. Cost per Listing / Leads CPA / Agency Insurance *$205M ENTH: $944M Real Estate Z: $944M **$227M Weddings XOXO: $257M * Acquired by Bankrate in July 2010 from Spectrum Equity Investors **A sale of stock on Sharespost in January 2011 was at $1.75/share for an estimated valuation of $227M 3
  • 5. Market Size 2M weddings per year $28k x average amount = $56B per year in the US per wedding 40% venue & catering 60% photography, entertainment, flowers, attire, planner, gifts, invitations, beauty... 4
  • 6. Problems Brides Face contact and visit venues to get basic info it fills up every weekend for a year 5
  • 7. Problems Venues Face pay thousands upfront for listings annually ROI unknown 80% of leads are disqualified (mismatch in price, date, package or venue ? $$$$$ Leads 6
  • 8. Daily Aisle Solution Brides search Daily Aisle VALUE PROPOSITIONS Discover & Search Only place to search by date, features, head count Explore package details and price 7
  • 9. Daily Aisle Solution Daily Aisle informs Venue Manager SNAPSHOT COMMUNICATION BILLING VENUE INFO ACCOUNT analytics page views Analytics VALUE PROPOSITIONS Highly targeted leads No Risk - pay per booking Performance analytics Maximize revenue - yield management 8
  • 10. Daily Aisle Solution searches helps VALUE PROPOSITIONS VALUE PROPOSITIONS VALUE PROPOSITIONS Discover & Search % Booking Fee Highly targeted leads Only place to SaaS add-ons for No Risk - pay per search by date, venues booking features, head count Expansion or lead gen Performance analytics down channel to other Explore package Maximize revenue - wedding categories details and price yield management 9
  • 11. Expansion to Other Verticals The lifetime value of each customer is >$1,000 We will partner with existing affiliate programs (ex: Macy’s registry) and add verticals to current search functions (i.e. Transportation) $12B $7B $50-$500 $4B $4B $3B $3B $3B $50-$250 $2B 10-12 ~$150 % ~10% ~$300 12-15 ~20% $100 15% 6% % Registry Photography Entertainment Flowers Attire Invitations Transportation Rentals 1 0
  • 12. Progress After 2 weeks of open beta: 35+ Venues in San Francisco 20+ in Napa, Sonoma & Carmel $16M in Inventory 1000 Bay Area brides in 2 weeks 30 Leads 1 1
  • 13. Plan first... venues in the Bay area then... venues in LA and NYC also... exclusive access to non-traditional venues “airbnb for weddings” 1 2

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