Seamless Receipts Investor Presentation January 2011


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This is the presentation we used to raise funding for Seamless Receipts in January, 2011.

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Seamless Receipts Investor Presentation January 2011

  1. 1. “The most effective way to engage customers after they leave your store” Investor Presentation February, 2011
  2. 2. Market opportunity: major shift Old Model New Model Untargeted Mass Targeted Messages Interactive Engagements Page 2
  3. 3. Seamless Receipts solution Branded Personalized eReceipts Promotions Data Platform for Customer Engagement Page 3
  4. 4. Company overview Jan ‘09 May ‘09 Aug ‘09 Jan ‘09 Mar ‘10 Jul ‘10 Dec ‘10 Q1 ‘11 Initial Prototype Ilya joined, hired two Seed Funding,(14 Cornell CS Students) engineers First Revenue DFJ Gotham East Coast Beta Launch Beta Launch Venture Challenge ($250K) (eReceipts) (Web portal)Keith Cowing, CEO Ilya Mezheritsky, VP Biz Dev §  Engineering and management §  Sales and implementation lead for roles at Goldman Sachs, Cypress PwC’s Advisory Tech group Semiconductor, Lockheed Martin §  Cornell: Econ, Computer Science §  Cornell: Engineering, MBA §  NYU Stern: MBA (on leave) Page 4
  5. 5. Product demo Retailer downloads our software Software enables eReceiptsRetailer collects email addresses, delivers We track purchase behavior and produce branded and personalized messages dynamic content for each customer Email Mobile Page 5
  6. 6. Positive results from beta launch Pro  Hockey  Life   §  30K square foot superstore, 22 locations §  35% of customers requesting eReceipts §  Delivering ~900 receipts/day (27K/mo) §  4x the open-rate of typical emails (80% vs. 20%) §  400% growth of email list in 4 months (from 20K to 80K) §  Top 10 referral source to their website Rollout scheduled end of Q1, 140 stores Rollout scheduled end of Q1, 92 stores Page 6
  7. 7. Building sales channels Strategy Goals for FY2011 §  Target retailers with a focus on brand and customer experience Direct §  Pitch simple tools to engage customers §  25 retailers §  Leverage sales traction to secure partnerships with POS platforms §  Power eReceipts for POS companies (will be bundled w/ Retail Pro’s next release) §  3 POS POS §  Leverage distribution for efficient Integrations lead generation §  Distribute base functionality, then up-sell §  Source leads via revenue share agreements Value §  Use webinars and follow ups to close sales §  Sign 4 VaR’s added §  Signed agreement with JD Associates, in §  Sign 20 retailersResellers discussions with 3 others Page 7
  8. 8. Focused on value to the retailerConsumer portals: little traction, minimal value to the retailer Consumers sign up in advance, log all credit cards Differentiation Retailers check the credit card §  Retailers control branding, marketing, number of every customer and customer engagement (major security concern, does §  Easiest consumer enrollment not work with cash) §  Lowest security concern for retailers Main motive: sell TurboTax Building Barriers Similar to Intuit, with a green §  High switching costs angle §  Platform gains value with adoption Carry a physical card to get (i.e. Catalina Marketing) digital receipts §  Distribution partnerships (i.e. Retail Pro) Focused on email receipts, “going green” Page 8
  9. 9. FinancialsProjections 2010 2011 2012 2013 2014 2015 Headcount 4 6 20 40 70 90 Retailers 1 40 70 200 600 1,500 Locations 22 2K 6K 25K 50K 75K Revenues 0 600K 3M 15M 30M 50M Wages (140K) (600K) (2.5M) (6M) (10M) (15M) SG&A (50K) (250K) (500K) (4M) (6M) (10M) Total Expenses (190K) (850K) (3M) (10M) (16M) (25M) Cash Flow ($190K) (250K) 0 $5M $14M $25MAdditional Revenue Streams •  Full customer engagement suite for retailers •  Advertising revenue from brands •  Leverage data as an asset Page 9
  10. 10. Raising $1.15M ($810K committed) §  9-12 months of runway §  Add 3 headcount (2 developers, 1 sales) §  Launch 40 retailers §  Develop personalization engine §  Release client portal version 2.0 §  Demonstrate potential revenue per retailer §  Identify customer acquisition cost Page 10
  11. 11. Questions? Keith Cowing, Founder and CEO Ilya Mezheritsky, Business Development Page 11