Team BigData(64 interviews, 132 survey responses)

formerly known as Team Privacy

Key Innovation

• BigData

– Analytics through restricted access

interfaces

– Example: Mine Google’s corpus

– Example: Mine any web database

– Example: Mine never-before-seen

hard drives

Team Privacy BigData

BI: $10b

IB: $16b

IC: ?

LBS Privacy Big Data

$1m

• PI: Nan Zhang– Assistant Professor of Computer Science, George

Washington University (GWU)

– Research areas: Databases, Information Privacy

• EL: Sundaresan Rajasekaran– Graduate Student of Computer Science, GWU

• Mentor: Jim Chung– Director, Office of Entrepreneurship, GWU

– Director, VentureAccelerator, UMD

– Investor (Angel, VC, Private Equity, M&A)

Team BigData

Privacy-

concerned

consumers

who use LBS

Creating

awareness

Own website

educationalIncreased

privacy

Technology

Privacy

advocacy

groups

Developing

costs

Marketing

costs

App revenue (direct or shared)

LBS App

Providers

Bundling with

LBS apps

trust

Building trust

Business Canvas (v1)

• Interviews with consumers– Mixed Responses

• How about LBS providers?– “ No Way ! ”

– Want users to share, not hide

• Pivot point: privacy advocacy groups– Consumers not ready

– Requires legislations

What We Did for LBS Privacy

Privacy-

concerned

customers

who use LBS

Creating

awareness

Own website

educationalIncreased

privacy

Technology

Privacy

advocacy

groups

Developing

costs

Marketing

costs

App revenue (direct or shared)

LBS App

Providers

Bundling with

LBS apps

trust

Building trust

Subscription

What We Found

Companies

uneasy about

employees’

online

activities

Consumers Don’t

Care About

Location Privacy

Websites File Systems Databases Web Dataset

Restart

0845644, 0915834

61/445,272 (web data)

61/423,939 (local storage)

Auditing/Forensi

c Accounting

Firms/Orgs

Subscription/Service/Training Fee

Customer

Acquisition Remove

Integration Cost

High Touch

Customer

Service

TechnologyDirect Sales

System

Development

Cost

Improve

Scalability

Customer

Acquisition Cost

System

Development

Current

Business Canvas v2 (After Restart)

Real-Time

Analytics

Accounting

Firms

Customer

Service

Cost

Interaction

Flexibility

• Interviews with forensics

accountants

– Deloitte, KPMG, Stanford, A

ARM

– Hands-on

experience, understood

pain points

• Unfortunately…

– “Quick & dirty” analytics ≠

admissible evidence

What We Did for Forensics Accounting

• They pointed us to:

– Intelligence Community (IC)

– Hedge fund managers (HF)

• Aha moment

– Repeatedly hearing IC&HF

• Why?

– willing to take risk

– make decision quickly

– high stakes.

BUT

Auditing/Forensi

c Accounting

Firms/Orgs

Subscription/Service/Training Fee

Customer

Acquisition Remove

Integration Cost

High Touch

Customer

Service

TechnologyDirect Sales

System

Development

Cost

Improve

Scalability

Customer

Acquisition Cost

System

Development

Current

What We Found

Real-Time

Analytics

Accounting

Firms

Customer

Service

Cost

Interaction

Flexibility

Subscription/Service/Training Fee

Intelligence

Community

Customer

AcquisitionExploring non-

importable data

sources

High Touch

Customer

Service

TechnologyDirect Sales

System

Development

Cost

Hedge Fund

Managers

Customer

Acquisition Cost

Backend

Development Current

Business Canvas v3

Instant

Analytics

Training

Cost

Licensing to

Service

Companies

Generic

Training for

PartnersFrontend

Customization

No “Paper

Trail”

Frontend

Visualization

Providers

Proprietary

Data Providers

Service-

Oriented

Companies

Hospitals

Government

Agencies

Ad Agencies

• Intelligence Community– Gov Agencies, In-Q-Tel, TRS, SAIC, 42six

• Hedge Fund Manager– Citigroup, VentureCount, ManagementCV, Lever

point, hedge fund manager, etc

Earlyvangelists

Overwhelmingly

positive responses

Need instant answer

• Speed

• Scalability

We learned:

• Customer relationship

• Distribution channel

• Purchase decision workflow

• Partnership

• Competitive intelligence: Fortune 500 companies

• Investment Bankers, Traders

• Real-time monitoring, litigation avoidance

• Advertising Agencies

Mainstream Customers

Need

• Data mining

capability

Non-Customers

• Government regulators SEC, FTC

• Medical Data Analysts

• Inertia

• Not invented here

• Precise results only

Purchase Decision for IC, HF, IB & BI

Analyst/

Manager/

Partner

Corporate IT

Department /

CIO office

HF

IC

BI/IB

Service

company

for IC

• Service companies for IC– Verified mutual interest (e.g., 42six)

– Reason 1: Enter intelligence market

– Reason 2: Bridge specific demand & generic product

• Front-end processing providers– Verified mutual interest (e.g., SAIC)

– Reason 1: Our key strength is on backend

– Reason 2: Backend is generic

– Reason 3: Front-end customer-specific

• Proprietary data providers– e.g., LexisNexis, Thomson Reuters, etc.

• Platforms– e.g., Bloomberg terminal, Factset

Key Partners

Our Generic Backend Platform for Instant Data Analytics

Intelligence

CommunityHedge

Fund

Business

Intelligence

Service

Companies

Front-end

module

Front-end

module

Front-end

module

Our Offering

Total Market Size

• Global financial data market: $16 billion /

year [Inside Market Data]– Bloomberg: revenue $6.9 billion / year

– Thomson Reuters: revenue $14 billion total /

year, about $6 billion / year for financial data

– Smaller players for the other 1/3 market

– e.g., FactSet $641 million / year

• Global analytics / BI software market: $10

billion / year [Gartner]– SAS: $1.4 billion / year

• Intelligence Community– SAIC: $10 billion / year, TIBCO: ~$700

million/year

– Palantir: $100 million / year, but doubling every

year

BI: $10b

IB: $16b

IC: ?

Hedge Funds Target Market

• Bloomberg Terminal– $18,000 / year / terminal

• FactSet– $50,000 / subscription, + $6,000

additional user

• Palantir– $225,000 initial cost + $45,000/year for

support and maintenance

• Target Market at the beginning:– $100,000 / system * 12,000 hedge

funds = $1.2 billion

Total: $26b

Served: $16b

Target: $1.2b

Subscription/Service/Training Fee

Intelligence

Community

Customer

AcquisitionExploring non-

importable data

sources

High Touch

Customer

Service

TechnologyDirect Sales

System

Development

Cost

Hedge Fund

Managers

Customer

Acquisition Cost

Backend

Development Current

Business Canvas Now

Instant

Analytics

Training

Cost

Licensing to

Service

Companies

Generic

Training for

PartnersFrontend

Customization

No “Paper

Trail”

Frontend

Visualization

Providers

Proprietary

Data Providers

Service-

Oriented

Companies

• Value propositions … and even

customers … come from outside the

building– Not brainstorming sessions inside the office

• Viable Business?– Yes

– But it takes time to develop

• Next Steps– Recruit a CEO

– Continued customer development (Interviews

already scheduled / planned)

– Finish the MVP

– Apply for SBIR

– Seek additional sources of funding

Learning

Demo

Privacy-

concerned

customers

who use LBS

Creating

awareness

Own website

educationalIncreased

privacy

Technology

Privacy

advocacy

groups

Developing

costs

Marketing

costs

App revenue (direct or shared)

LBS App

Providers

Bundling with

LBS apps

trust

Building trust

Business Canvas (v1)

Privacy-

concerned

customers

who use LBS

Creating

awareness

Own website

educationalIncreased

privacy

Technology

Privacy

advocacy

groups

Developing

costs

Marketing

costs

App revenue (direct or shared)

LBS App

Providers

Bundling with

LBS apps

trust

Building trust

Subscription

What We Found

Companies

uneasy about

employees’

online

activities

Consumers Don’t

Care About

Location Privacy

Auditing/Forensi

c Accounting

Firms/Orgs

Subscription/Service/Training Fee

Customer

Acquisition Remove

Integration Cost

High Touch

Customer

Service

TechnologyDirect Sales

System

Development

Cost

Improve

Scalability

Customer

Acquisition Cost

System

Development

Current

Business Canvas v2 (After Restart)

Real-Time

Analytics

Accounting

Firms

Customer

Service

Cost

Interaction

Flexibility

Subscription/Service/Training Fee

Intelligence

Community

Customer

AcquisitionExploring non-

importable data

sources

High Touch

Customer

Service

TechnologyDirect Sales

System

Development

Cost

Hedge Fund

Managers

Customer

Acquisition Cost

Backend

Development Current

Business Canvas v3

Instant

Analytics

Training

Cost

Licensing to

Service

Companies

Generic

Training for

PartnersFrontend

Customization

No “Paper

Trail”

Frontend

Visualization

Providers

Proprietary

Data Providers

Service-

Oriented

Companies

Hospitals

Government

Agencies

Ad Agencies

Subscription/Service/Training Fee

Intelligence

Community

Customer

AcquisitionExploring non-

importable data

sources

High Touch

Customer

Service

TechnologyDirect Sales

System

Development

Cost

Hedge Fund

Managers

Customer

Acquisition Cost

Backend

Development Current

Business Canvas Now

Instant

Analytics

Training

Cost

Licensing to

Service

Companies

Generic

Training for

PartnersFrontend

Customization

No “Paper

Trail”

Frontend

Visualization

Providers

Proprietary

Data Providers

Service-

Oriented

Companies