The Kayak.com for the Share Economy

Fiddle Venture Plan

Matt Chic | Eric Irvine | Bryan Mascioli | Jake Wise

October 2012

Executive Summary .......................................................................................................................... 4

Introduction ....................................................................................................................................... 5

Macro Trends .................................................................................................................................... 5

Market Research ............................................................................................................................... 6

Market Analysis & Sizing ............................................................................................................... 6

Customer Base ................................................................................................................................. 7

Description of the Customer Need ................................................................................................ 7

Consumer Segments ..................................................................................................................... 7

Consumer Demographics .............................................................................................................. 7

Consumer Interests and Interactions ............................................................................................. 8

Competitive Landscape ..................................................................................................................... 8

Competitive Analysis ..................................................................................................................... 9

Competitive Advantage ............................................................................................................... 10

Service Definition ............................................................................................................................ 10

Search & Discovery: .................................................................................................................... 11

Service ..................................................................................................................................... 11

Line of Business ....................................................................................................................... 11

Inventory Distribution: .................................................................................................................. 11

Service ..................................................................................................................................... 11

Line of Business ....................................................................................................................... 12

Business Intelligence: .................................................................................................................. 12

Service ..................................................................................................................................... 12

Line of Business ....................................................................................................................... 12

What does Success Look Like? .................................................................................................. 13

Consumers ............................................................................................................................... 13

Providers .................................................................................................................................. 13

Marketing Plan ................................................................................................................................ 13

Brand Promise, Positioning & Values .......................................................................................... 13

Market Segmentation .................................................................................................................. 13

Prototyping .................................................................................................................................. 14

Early-Stage Tactical Market Strategy .......................................................................................... 15

Consumers ............................................................................................................................... 15

Providers .................................................................................................................................. 16

Broader Go-To-Market Strategy .................................................................................................. 16

Advertising, Promotion & Sales Strategy ..................................................................................... 17

Exit Strategy ................................................................................................................................ 17

Operations Plan .............................................................................................................................. 18

Pricing .......................................................................................................................................... 18

Search and Discovery Lead Generation ................................................................................ 18

Bundled Inventory Distribution ............................................................................................... 19

Data Analytic Subscriptions/ Business Intelligence ............................................................... 19

Financial Projections ................................................................................................................... 19

Production Activities .................................................................................................................... 19

Initial System Development ......................................................................................................... 19

Search & Discovery Storefront ................................................................................................. 20

Inventory Distribution Storefront .............................................................................................. 21

Business Intelligence Storefront .............................................................................................. 21

Cost Analysis ............................................................................................................................... 21

Fixed Costs .............................................................................................................................. 21

Variable Costs .......................................................................................................................... 22

Organizational Design ..................................................................................................................... 23

Management & Organization for Venture Launch ....................................................................... 23

Management Team .................................................................................................................. 23

Founders .................................................................................................................................. 23

Advisory Board – Target Members .......................................................................................... 25

References ...................................................................................................................................... 26

Appendix: Identified Competitor Feature Set Matrix ...................................................................... 27

Executive Summary Share Economy

The Share Economy collaboration consumption model provides an opportunity for dramatic increases in resource productivity by connecting individuals with assets and services. Car owners are making an average of $250 each month renting out their vehicles on RelayRides, a San Francisco based peer-to-peer car sharing company. (Clark, 2012). Residents of New York City are pulling in upwards of $21K each year by renting out their spare bedrooms on Airbnb. Those interested in generating a secondary income can make as much as $5K each month by way of TaskRabbit (Busque, 2012).

Problem The Share Economy has grown significantly over the last few years and while the use of services is growing in popularity, the search and discovery of relevant information is becoming more challenging for providers and consumers alike. Providers are those Share Economy companies that operate as either a peer-to-peer platform or shared resource service provider

Solution

Fiddle is an online platform that aggregates all Share Economy information. Fiddle provides consumers access and discovery of Share Economy information and providers the opportunity for lucrative marketing and distribution partnerships. For users, Fiddle organizes information by location, functionality and price. For Share Economy providers, Fiddle delivers a turn-key solution to increase visibility and acquire new customers at low cost.

Opportunity

There is no existing Share Economy aggregator. As of May 2012 there were over 6,500 companies worldwide that operate in and around the Share Economy, which represents a 5x increase of new entrants over the last 18 months (Gansky, 2012). The total market value of Share Economy services is estimated to be $110 billion (Fast Company, 2011).

Posit ioning Fiddle is your gateway to the Share Economy. We facilitate discovery of services so that users may locate needed services and combine their offerings with others to sell service packages.

Business Model Fiddle is an information aggregation platform that generates revenue through transaction fees and subscription fees via three lines of business: Search & Discovery, Inventory Distribution and Business Intelligence.

Please access the Fiddle financial model, video pitch and prototype wireframes below:

Model Pitch Prototype

Introduction In What’s Mine Is Yours: The Rise of Collaborative Consumption, by Rachel Botsman, the author points out that the average power drill, which most everyone owns, is actually utilized only about 12 minutes over the course of its life.

Jessica Scorpio of GetAround stated, “You have a car that sits idle 92 percent of the time; it serves its owner well, but it also is a really expensive asset that could be used more effectively.”

The Share Economy premise is fairly straight forward: a more efficient means of consumption results in better resource utilization. Instead of us wasting our dollars on things like power drills which we require only occasionally, we can share them with those in our community and unlock untapped value.

Macro Trends In 2010, Latitude Research and Shareable Magazine conducted the first-ever comprehensive sharing industry study, entitled, The New Sharing Economy, to establish benchmarks for awareness and adoption of existing sharing services, as well as sharing attitudes and behaviors. What they found was that 75% of participants predicted that their offline sharing will increase in the next 5 years; the most popular perceived benefits of sharing (67% each) were “saving money” and being “good for society”; and 45% of participants liked the idea of sharing services that felt smaller and more accessible like local or grass root communities.

In The Big Switch, Nicholas G. Carr refers to the “Great Unbundling – i.e., the radically disruptive disintermediation associated with the Internet Age.” The trend of distributed disruption began with open source code and file sharing. Then people shared their lives on Facebook, their media on YouTube, and now their assets on various platforms (Sacks, 2011). Over 3 million people from 235 countries have couch-surfed and over 2.2 million bike-sharing trips occur each month (Sacks, 2011). Super angel Ron Conway recently identified the Sharing economy as 2012′s hot area for angel investment (The Rise of the Sharing Economy, 2011).

Growth of mobile technology and the rise of peer-to-peer platforms are chief contributors to rapid growth and expansion of this market. In 2009, 385 million mobile phones were estimated to be in circulation worldwide. By 2013, that number is estimated to triple to 990 million (Botsman, pg. 85).

This is all to say that the future is likely one driven by distributed solutions. People are empowered to disrupt. There is therefore a great deal of value to be unlocked by aggregating users and resources and facilitating access. As provided below, users may include humans, applications, or devices , while resources may include assets, code or ideas.

A number of entities already exist to promote collaboration and facilitation of access between users and resources (i.e., GitHub, Quirky). Most notably, Cosm, formerly Pachube, is a platform that supports a community of developers (those who build apps) and products (those who build devices). Whatever the label, be it co-development, co-curation, social coding, social development, the data that is extracted from H2M (human-to-machine) and M2M (machine-to-machine) interactions is unique in the fact that by itself it is not typically very interesting, but when it is opened up and available to a community of empowered individuals, it becomes a driver for all kinds of awesome innovations, like crowd-sourcing movements and new interactions within urban infrastructures. Some resulting products are funded via Kickstarter (i.e., Air Quality Egg, Sensordome).

As Clay Shirky states in Cognitive Surplus: How Technology makes Consumers into Collaborators (May 2011), “with a large enough crowd, unpredictable events become predictable….once the uncertainty of demand is divorced from the individual customers and remanded to the aggregate, whole new classes of activity become possible…More is different—when you aggregate a lot of something, it behaves in new ways, and our new communications tools are aggregating our individual ability to create and share, at unprecedented levels of more.”

Market Research

Our team has consulted industry participants and interviewed both current and prospective customers of Share Economy services to better understand the space. The following Share Economy professionals are advising our product development process: Lisa Gansky, Founder of Mesh Labs, Jeremy Barton, Founder of Legit, June Lin, Community Manager at Vayable, Emil Martinsek, Product Manager at Hotwire.com, Fadi Bishara, Founder of Blackbox, and Kevin Zellmer, Business Development at Hearsay Social.

Market Analysis & Sizing

The Share Economy has experienced a boom of investment, entrants and consumer activity in the last 3 years. Due to the infancy of this new economic model, thorough market data is not publicly available or does not yet exist. As a proxy we examined some important trends for the industry.

Leading Share Economy researcher Rachel Botsman estimates the total market value of Share Economy services at $110 billion (Fast Company, 2011). The Gartner Group estimates that peer-to-peer financial lending will reach $5 billion by 2013. Frost & Sullivan projects car sharing revenue will reach $3.3 billion by 2016 and venture capital institutions have targeted the Share Economy as 2012’s hot sector for investment.

Total figures for member participation also illuminate the speed with which Share Economy services are gaining traction. Twenty-Six US-based car sharing programs have gathered roughly 561k members. Share Economy leader Airbnb surpassed 5 million nights booked and 300k app downloads within 3 years of launch. Cities around the world are now counting 2.2 million bike-sharing trips per month (compete.com).

At the same time consumer attitudes are trending positively with regard to sharing. Campbell Mithun published a study in February 2012 citing that 60% of consumers surveyed found the concept of sharing – access over ownership – appealing and 71% of consumers who have used Share services expect to use them again (Olson, 2012).

Who

_Humans_Apps_Devices

What

_Assets_Code_Ideas

AggregationofUsersandResources

Gateway

Accompanying this boom of activity and new services is information saturation and fragmentation. Information discovery has become a customer pain point. As the number of services increases, the ability to easily discover what is relevant and accessible to an individual consumer in a specific geographic area becomes increasingly time consuming. Customer Base

Fiddle’s customer base consists of Share service providers, consumers, and prosumers (those that both provide and consume).

Descript ion of the Customer Need

The explosion of information related to the Share Economy services has created two new specific needs for consumers and providers. Consumers need simplicity and providers need targeted exposure. Consumers are currently relegated to a basic google search to begin finding service information on new options for access over ownership, and ways to make and save money in the Share Economy. This is efficient if an individual knows exactly what service they are looking for, but not for comparing, browsing and making informed selections. There are too many options across geography, price range and product/service categories. As new companies continue to enter the marketplace, search and discovery continue to be increasingly cluttered and time consuming. New individual users will be required to spend more and more time reading, researching and exploring availability to find new services. Each provider is currently executing a broad marketing strategy to increase their user bases. Share Economy companies need targeted, inexpensive exposure to find the right customers, at the right time for their service offerings. The sharp increase in new entrants to the market has made getting new customer attention both increasingly challenging and expensive. Consumer Segments We have identified two customer segments: 1) The primary adopters who already use a Share Economy service, and 2) the secondary adopters who are familiar with the concept of access over ownership but have not yet tried a service. The primary adopter segment is the most valuable segment for our company, Fiddle, to address first. These consumers are most comfortable with purchasing Share Economy services and already have memberships to many platforms which make them the best target to up-sell bundled packages.

Consumer Demographics Our potential customers span a mix of age, gender, education and familial status. Interviews, site traffic demographic data from leading Share Economy services and recently published research has helped us understand our customer in more detail. AS provided in the graphic below, the majority of Share Economy consumers are women between the age of 25 and 34, without children, who have a college education or higher, most of which are accessing their Share services at work (alexa.com,n.d.)

Consumer Interests and Interactions The primary benefit afforded to participants in the Share Economy is the opportunity to make or save money. Financial motivations are the strongest rational impetus to try a Share service followed by emotional motivations that support the customer experience. Our customers value convenience and social validation. They do not want to spend a lot of time researching service attributes and desire the ability to easily find price and availability information. Consumers value the feeling of participation in community and engaging in a less impactful more collaborative lifestyle. The dominant point of customer interaction with the Share Economy is through the Internet browser and increasingly via mobile software applications. Site traffic information indicates that most hits to Share Economy sites come through Google and Facebook.

Word of mouth and press coverage appear to be the driving forces for trying a new service. The customers we interviewed had all heard about a Share service through a friend, or an article, and then searched Google or Facebook for more information.

Competit ive Landscape As a Share Economy aggregator Fiddle seeks to facilitate discovery of services so that users may locate needed services and combine their offerings with others to sell service packages.

Our competitors fall into three general concept areas: recreation travel, collaboration champion and business opportunity. Each concept satisfies the customer need to some degree, but not completely. The Share Economy is nascent and therefore fragmented. At this stage, Share as an offering represents a broad spectrum. Degrees of Share include shared products and services, co-ownership, redistribution or reuse, and content collaboration. Ultimately a market is rising up around the more efficient use of idle resources.

Incumbents in the recreation travel industry, otherwise known as Online Travel Agencies (OTA),

dominate the traditional marketplace. These are established companies with scale as their primary advantage. These players include the likes of Expedia, Kayak and Priceline. It is these companies whose market share we might be eating into which gives us pause as the strategy may not be to compete with these behemoths but rather to collaborate or pursue acquisition. Ultimately it is going to take a shift in the customer mindset to truly impact the OTA’s top line. Additionally the recreation travel concept category includes players like Weekend Sherpa, TripAlertz, FlexTrip and TripAdvisor, which operate in niche markets (i.e., outdoor activities, sustainable tourism, group tours).

This shift in mindset requires pushing the collaborative consumption concept, which is an action performed by the champions. These champions include Canada-based Uniiverse, the Mesh Directory, Shareable and UK-based CollaborativeConsumption.com, all of which are social movement-oriented players whose objectives are both to inform and organize. Each promotes a collaborative lifestyle but to varying degrees.

Participants are also interested in business opportunities; the chance to make or save money. Craigslist and Shareasale both provide participants the opportunity to pursue collaborative capitalism.

The Share Economy is a three-sided marketplace. There are Providers of Share products and services, Consumers of Share products and services, and “Prosumers” who both provide and consume. Transactions between these parties play out at three levels: business-to-business, business-to-consumer, and consumer-to-consumer capitalism.

Competit ive Analysis

We have identified two themes across the discussed concept areas: Messaging and Content. With respect to messaging, competitors are positioned either as promoters of economic gain or social benefit. With respect to content, each competitor provides a different degree of information, organization and aggregation. The 2x2 below serves to illustrate this observation.

Economics Movement

Information

Facilitation

shareabout

X-axis: MessagingY-axis: Content

Fiddle has identified an opportunity to play all three roles: facilitator via experience bundling and travel packages, champion via organization of Share information (or ShareHub), and provider of business opportunities for prosumers. Though at present our venture has many indirect competitors, there exists no entity that executes in all areas. Even those players that have partnered, Airbnb and Vayable or Expedia and Groupon, do not execute across all identified value adds.

In the Appendix is a feature set matrix for Fiddle’s identified competitors. Included in the table are the company’s concept category, demographics, revenue streams, value gain features and value loss. The demographics provided in ascending order are as follows: User Age Brackets, Gender, Education, Children, Browsing Location, and in some instances the Upstream Website. The data for all competitors without upstream/downstream information is Google and Facebook.

Competit ive Advantage

The nature of Fiddle’s competitive advantage will be its ability to offer authentic experiences at lower cost. We will organize and facilitate Share Economy resources for primary adopters and champion the Share concept to secondary adopters.

Fiddle is an interactive website that combines the strengths of each competitor concept. Our competitive advantage lies in the combined provision of differentiated recreation travel, the opportunity to collaborate across multiple verticals and business opportunities for prosumers.

Our strategy is to roll out the bundling of recreation travel packages/experiences initially and then expand our offering with new features for each category in phases. It is our intention to lead with the most viable option, transaction fees from bundling, and therefore our focus initially will be to draw attention to the site via bundling and success will come from our ability to deliver high quality user experiences. If our Share portal can deliver a targeted audience to our vendor partners and advertisers, other revenue streams will avail themselves.

Our initial strategy is a sliver of the larger value proposition, which is to organize the world’s idle resources and network consumption of those resources. There are environmental, economic and social benefits associated with this vision. The benefits include resource efficiency (i.e., reduced extraction and use of virgin materials), secondary incomes for prosumers, and community building via increasingly local collaboration.

Service Definit ion Fiddle will be the hub of the Share Economy. Fiddle will organize the entire Share Economy in order to maximize visibility and participation. In so doing, we aim to dramatically increase traction of the “access over ownership” concept.

Multiple participants drive the Share Economy. Fiddle performs three specific functions for current and prospective participants and has three distinct lines of business against each. The services Fiddle provides are: 1) Search & Discovery, 2) Inventory Distribution, and 3) Business Intelligence

Search & Discovery:

Service Fiddle will database every operating Share Economy company and make them searchable per category, functionality, price, reputation, availability and geographic location. The Search & Discover service will solve the problem of fragmented and opaque information. Currently, it is a very time consuming process to find well-organized, concise information on Share Economy companies whose services. Fiddle will deliver convenient search and discovery to the current and prospective individual consumer, provider and prosumer and encourage new discovery via suggestion engines and bundled products and services, which we will explore below. The search and discovery function of Fiddle is available to every visitor without a required sign up or registration process. Every first time visitor can benefit from Fiddleʼs intelligent search capabilities immediately upon arrival.

Line of Business Fiddle’s search and discovery service is a lead generation line of business. We will sell leads to the companies in our database on a cost per acquisition basis. Based on our research we estimate that a newly acquired customer is worth $4 to a Share Economy company. We expect to sell leads to companies on our database on a scale based on activity.

Inventory Distr ibution:

Service Fiddle will deliver a new line of distribution for selling Share Economy inventory in the form of user-generated bundled packages. Providers and prosumers who currently offer one category of inventory (i.e., lodging) will have the opportunity to bundle their inventory with another provider or prosumer with a complimentary type of inventory (i.e., transport). Another example may be an instructor for hire paired with a classroom for rent. Enabling providers and prosumers to bundle their inventory offers a more compelling product.

Providers and prosumers will benefit from increased sales with a new line of distribution. Current and prospective consumers will benefit from a broader selection of complete packages, potential discounts from economies of scales achieved and easier discovery of new services.

When an individual user registers on Fiddle, they are given the ability to import their personal inventory from every share company service they use. Therefore a user who rents their car through the Share company RelayRides would be able to import their RelayRides vehicle listing into their personal Fiddle inventory. In this process, Fiddle also provides recommendations for new services to try out, to help individual users build as large of a personal inventory as possible. Once the user inventory is imported, all of the items are searchable by category and by Share company service on Fiddle. In the RelayRides e x a m p le , anyone searching Fiddle might find that user’s car by searching for “transportation” or by searching “RelayRides” in their geographic area. Importing their inventory into Fiddle immediately gives the user new and searchable internet real estate. In addition to the automatic basic listing, Fiddle gives two options to combine inventory and sell bundles of inventory in one click. A Fiddle user can either build a bundle from their own inventory or choose to pair their inventory with others. If one user has two complementary items, they can choose to build a bundle and sell those items for one price. If one user has one item but not the other, Fiddle will recommend pairing that item with a different user’s item to raise the likelihood that

both items will find a buyer. For providers Fiddle delivers targeted, easy, inexpensive exposure and a new distribution channel for sales. The Fiddle platform is designed to act as a partner to Share Economy providers. With the robust search and discovery function described above, Fiddle is a delivery system for new potential customers. A Share company partner then only needs to allow specified data to be searchable on the Fiddle platform and Fiddle will drive new customers. The Fiddle system is a superior lead capture point of origin than basic internet search engines because it is pulling in customers specifically interested in diverse aspects of the Share Economy. Many will just be browsing locations for available services. The majority of Fiddle search traffic will arrive because they have been driven to Fiddle as “Gateway to the Share Economy.” The likelihood of finding a new customer from a pool of Fiddle traffic is higher than basic internet search engines. Further the Fiddle recommendation engine will pull users towards options that complement what they use already. In addition to pulling new customers from prime traffic, Fiddle will push a Share Companyʼs services toward those who might best use it.

Line of Business Fiddle’s Inventory Distribution Service is a transaction fee based line of business. Our research shows that we can demand a 10% commission per transaction from bundles sold on Fiddle.

It is our observation that “inventory” in the Share Economy is a different proposition because the owner of the resource is looking for a secondary income and not seeking profit to offset a primary investment. The opportunity to “make/save” money is the value proposition for both the consumer and Share service provider. Therefore, ”inventory”, and the traditional operational risks associated, may not be a constraint as long as Fiddle is delivering on this objective.

Business Intel l igence:

Service As the hub of the Share Economy, Fiddle will be uniquely positioned to track and analyze Share Economy information. Fiddle will have insights to consumer category preferences, price tolerances, participation trends, business model success and failures, use data, transaction volumes and transaction values. As a central hub for all participants, Fiddle will track and analyze data on each participant type and make this data and analysis available for sale.

Fiddleʼs data analytics services will provide leading and comprehensive metrics on the patterns of Share:

● Geographic preferences for Share Economy participants ● Most searched companies ● Most searched terms ● Most demanded services ● Most active platforms ● Average value of Share transaction ● Most valuable product & service combination ● Location and product attributes of most valuable combination ● Demographic data on Fiddle users

Line of Business Fiddle’s Business Intelligence Service is a subscription fee based line of business. Our research shows

that we can demand at least $99 annual subscription fee for access to premium data.

What does Success Look Like?

Our company seeks to facilitate both economies of networking and economies of scale. The economies of networking are achieved on the demand-side, as the more people share a resource the more efficient the use of otherwise idle resources. The economies of scale are achieved on the supply-side where providers are able to spread fixed costs over more and more users and benefit from the buzz or word of mouth from prosumers.

Success is realized when both the demand and supply of Share services is manifest in the growth of consumers and providers. This growth can be maintained by tapping customers that fall into other demographic profiles. For example, bundling Zipcar with Taskrabbit for low-income, perhaps under-educated, and certainly under-utilized prosumers.

Consumers Success relies on our ability to reach customers and draw them in based on the economic incentive. We are confident that our offering will address the need of not only the primary adopters of Share services but also the latent demand among secondary adopters. Our research demonstrates that consumers are eager for deals and opportunities to ”make/save” money. Further, many of the potential secondary adopters we spoke to were not aware of the breadth and depth of offerings currently available in the Share Economy. What revealed itself through our customer interviews was that for secondary adopters, though there was interest in learning about the various services and how they could use them, there was little interest in spending time to get over the learning curve or sorting through the landscape. To this extent, Fiddle addresses the problem of convenience and discovery.

Providers The key to the success of this model is contingent upon the ability to build the multi-sided market. This relies on negotiating exclusive partnership agreements with current Share service providers. Fiddle is exploring partnerships with key service providers in the Share Economy, each in different functional categories. While all of these companies have made a name for themselves in their respective sectors, there is not at this point an intermediary that is offering their services together. As an intermediary, we will provide our customers the opportunity to bundle their product offerings – lodging, activities, and food – together.

Marketing Plan Brand Promise, Posit ioning & Values

Our mission at Fiddle is to dramatically scale the Share Economy. We aim to organize the services of the Share Economy to drive an exponential increase in discovery and participation. As such, Fiddle is THE gateway to the Share Economy and intends to become its de-facto brand. Fiddle makes two important promises. For consumers, Fiddle promises to make the Share Economy more accessible, more convenient and more useful. For Share Economy providers, Fiddle promises a lucrative marketing and distribution partnership.

Market Segmentation

Fiddle serves three customer groups: 1) Consumers, 2) Providers, and 3) Prosumers.

Consumers exclusively purchase or rent goods and services from others. The Share Economy pure consumer is motivated by saving money, convenience, the ethics of resource efficiency and the idea of building community. Pure consumers benefit from Fiddle because they are able to discover new Share services based on their location, needs, and price range. Fiddle’s message to pure consumers is about convenience and discovery.

Providers can be broadly divided into peer-to-peer platform companies and shared resource access companies. Peer-to-peer companies run platforms that unite individuals with supply and individuals with demand. Shared Resource companies manage a resource that consumers pay to access. RelayRides is an example of a peer-to-peer car rental platform where individuals provide both supply and demand. Zipcar is an example of a shared resource access company where the company manages supply and the individuals rent access. Fiddle benefits providers by increasing the audience to whom they can offer their service and by allowing them to build packages with other providers for more complete offerings to the economy. For example, one provider’s car on RelayRides coupled with another provider’s room on Airbnb, becomes a more marketable complete product. Fiddle offers an additional, flexible storefront for providers. Fiddle’s message to providers is about increasing distribution and creatively building package offerings with other providers.

Prosumers participate on both the buy and sell side of the Share Economy and benefit from Fiddle in the same manner as both consumers and providers. Fiddle’s messaging to prosumers is about both discovery and distribution.

Prototyping

In line with our Marketing plan, we conducted one experiment towards individuals using a wireframe mock-up and another toward potential partners using our concept video.

The individual experiment we conducted was for the purpose of identifying what information an individual user wanted to have while navigating the Fiddle portal. We started with broad questions to friends, family and colleagues asking about the types of websites they liked the best and what they desired in a user experience. The common denominator was simply that people wanted clean, uncluttered and easy to understand search experiences.

The people we spoke to also gave us the following information:

• They wanted to be able to search and use the system without signing up. • They want to immediately see what Fiddle could find for them in their area. • They wanted to have the ability to type in any category of search term: A location, a specific

service, a category of service or a date range. • They valued seeing what other people were using but wanted a social networking inclusion to

be optional. The partner experiment was an empirical survey to demonstrate the concept behind Fiddle and test the waters for feasibility with partners. We employed our promotional video for such. Our goal was to understand if their technical teams saw mileage in the idea and if their business development teams understood the value in the product.

A summary of the feedback we received included:

• “Due to the overhead that's required to manage affiliate partnerships, they [i.e., Provider] won't really pursue anything unless a partner [i.e., Fiddle] is sending them at least 100 users per month. At that point, TaskRabbit will start paying on a Cost Per Acquisition basis”

• “short answer, yes, Fiddle does sound appealing” • “Big factor for our involvement is ROI. We'd need to see Fiddle's audience numbers,

demographics, and other metrics before getting involved” • “We have seen a good return from using, for example, Groupon and other deal sites, because

they provide us the eyeballs of our target audience.” • “I watched the video and think it's a great idea in concept. I'm not sure how the logistics will work

specifically with us and our real-time parking focus, but I am sure there are possibilities” • “We definitely want to find ways of partnering now and in the future” • “We would definitely like to be part of other bundled shared services, or have partnerships” • “I'm not sure what the payment would need to be... I imagine though that it would make sense to

be somewhere around 10-20%” • “Interesting idea. I think the packaging on collcons (collaborative consumption) services has

potential.” • “We wouldn't base our decision on lead gen, but more on your product and whether other

notable companies are participating.” • “Nice video. Simple but engaging. I'd be interested to learn a little more about your plans. I think

there's definitely value in bundling services” • “Your idea makes perfect sense. What’s going to be tough is that there are no APIs at present

and these are nascent companies with limited resources; they would need to see marginal value over unbundled resources in order to migrate”

• “Companies [i.e., Providers] will not allocate dev resources unless It’s truly compelling (i.e., can you show the benefits of bundling for a resource that is under-utilized? does it result in more clicks?”

In reviewing the feedback from this experiment, Fiddle is very encouraged by the response and opportunity. Two key takeaways from the exercise are that the Fiddle business model is both desirable and not currently available elsewhere; this puts Fiddle in a first to market position. A third key takeaway is that even though there are a few technological hurdles to work out, the majority of the responses suggested that these hurdles are not insurmountable. The latter point was further reinforced through initial engagement with our engineering consultants.

Based on the feedback above we have developed a wireframe prototype.

Early-Stage Tact ical Market Strategy

Early-stage engagement with consumers will be focused on awareness. Early-stage engagement with Share Economy companies will be focused on establishing pilot stage partnerships to identify the product development needs.

Consumers Facing the consumer, Fiddle needs to build awareness of the product to maximize demand in anticipation of the actual product launch. Early stage awareness-building to Individuals will involve circulating our promotional video, concept messaging through social media channels and direct outreach to the most active prosumers on existing Share Economy peer-to-peer platforms. The goal of this tease campaign is to 1) create excitement for the product concept and 2) collect information about individual consumers, providers and prosumers who are eager to try it. We will know if our customer acquisition strategies are working if the metrics we employ begin to shed light on the consumption

patterns of users.

The tease campaign aimed at consumers will support efforts to establish Provider partnerships. It will center around a pre-launch page that hosts multimedia and social media streams, and collects names, emails and demographic information about the Share services our prospective individual customers use. We will be able to demonstrate and track declared interest in our product concept directly from their customer base.

Providers For the pilot stage partnerships, the most valuable Share Economy Company partners are Peer-to-Peer platform companies. Peer-to-peer platform services are Fiddle’s most important early stage partners because achieving inroads with the company also means receiving access to active Share Economy consumers, providers and prosumers.

There are two important activities required in establishing pilot partnerships. The first activity is to achieve concept buy-in from prospective peer-to-peer partners through the use of our promotional video and in-person networking. The Fiddle team needs to sell the value-add that our new service will provide to partners. The second activity is to set standards for the API integration with our partners so that our engineering team can build a product that will function seamlessly with our partner’s backend systems.

The partnership campaign will inform the capital needs of the company and headcount necessary to build the beta product. Early-stage Tactical Market Strategy success for Fiddle means having cultivated a base of awaiting individual customers, and an initial group of 10 partner companies, who will inform the technological requirements of our beta product.

Broader Go-To-Market Strategy

The broader go-to-market strategy, as outlined in the table below, begins with the release of our beta product. The central focus of our broader go-to-market strategy will be to bring new partners in as quickly as possible and target the largest, most valuable partners in each Share Economy category.

In San Francisco, networking opportunities such as ‘Collaborative Chats’, hosted by Legit or ‘Collaboratively Speaking’, hosted by TaskRabbit are perfect forums for meeting potential initial partners. Both forums interview founders and thought leaders in the Share Economy. Other initiatives, such as the Share Economy Working Group formed by the City of San Francisco, have been tasked with legitimizing the emerging industry.

The most powerful tactic we can execute to bring new partners is to continue demonstrating demand from their customers. To that end, Fiddle Beta* will serve the same function initially performed by the promotional video - engaging our customers - but will be a more powerful tool because customers can use it.

We will direct our partnership development efforts in order of the most requested. Each new partnership means a new group of Consumers, Providers, and Prosumers to engage with and exciting new product available on the portal. Additionally with each new partnership established, our partnership proposal to the next target becomes more compelling. We can offer access to a larger and larger established user base, as well as an increasingly powerful resource for marketing to new Share Economy participants.

Go To Market Strategy Tasks Involved Responsible Parties

Tease Campaign Community Building to Individuals

Attract attention to Fiddle via social media, promotional video and personal networking.

Eric

Share Economy Initial Partner Sign-ups

Demonstrate the concept to Share Economy companies to enlist initial Partners.

Matt

Account Management for Initial Partners

Test and iterate as necessary Bryan

Identify Capital Structure and Team Headcount Requirements

Interact with Investors and Recruit the necessary Engineering Team

Jake

Advert is ing, Promotion & Sales Strategy

The early-stage and broader go-to-market strategies are dependent upon the founding team successfully selling the concept to both customer groups and recruiting a capable product team to build it.

The Fiddle founding team is also well equipped to execute on the 4 go-to-market strategy principal activities. Matt Chic and Eric Irvine will lead concept demonstration and tease campaign activities. Bryan Mascioli and Jake Wise will lead the product development and team building activities.

Matt has five years of experience in business development, sales and marketing and has successfully launched two small ventures previously.

Eric has five years of experience in marketing and project management roles and has an intimate knowledge of many companies in the Share Economy and working relationships with many of their founders through his current endeavors.

Bryan has six years’ experience in operations, including quality management, as well as eight years in organizational learning and development.

Jake has object-oriented programming experience and over ten years in the financial services industry.

Exit Strategy

Fiddle has considered two hypothetical futures across two orthogonal dimensions: Consolidation and Market Growth. We believe the soundest strategy is to plan for the worst- case and thereby ensure a successful exit were the venture to not go as planned.

In the best-case the Share Economy grows by leaps and bounds and with that growth and increasing fragmentation, or expansion across each Share vertical, comes a demand for organization of that market. Fiddle prospers.

In the worst-case the Share Economy does not take off as hoped and certain dominant players begin to

assume Fiddleʼs role following a wave of consolidation. The need to facilitate or organize is then fulfilled by that SuperShare entity rather than by Fiddle. Fiddle is no longer relevant.

Our strategy to remain relevant will rely upon successful execution of three objectives:

1. Become the Share Hub 2. Design for SuperShare 3. Think Bigger

Share Hub: Fiddle needs to establish a presence in the Share space. All things Share happen at Fiddle: new Share services and events are promoted, our blog informs, our name becomes synonymous with collaborative consumption and the Share Economy, fledgling Share providers rely upon us for customer acquisition, etc.

Design for SuperShare: Fiddle must engage pilot partners. We must better understand their needs before we can solve their needs. Designing our experience around them will galvanize the relationship and secure the future partnership.

Think Bigger: Fiddle must continue to think bigger than its competitors. Pursuing a grander vision of what Share represents will enable us to stay ahead of those who are seeking to replace us. Share does not stop at houses and cars, it has the potential to disrupt and transform the way in which we consume any number of resources.

In this way, if we do not execute successfully we will at least be positioned for acquisition ourselves. Potential acquirers, besides SuperShare entities, may include:

• API developer • Social Coding Provider

Operations Plan Pricing

Fiddle earns revenue from transaction fees for the Search & Discovery and Bundled Inventory Distribution lines of business and subscription fees for the Business Intelligence line of business. The pricing for each line of business is as follows: L ine of Business Pric ing

Search & Discovery Lead Generation $4 per new customer delivered to a partner platform.

Bundled Inventory Distribution 10% of the provider cut. Data Analytics Subscriptions $99/year

Search and Discovery Lead Generat ion

For lead generation, Fiddle charges a one time (non-recurring) fee for directing a potential user to a Share Provider partner site. This stream assumes an inverted block pricing scheme to lower the barrier to entry for initial partners but raise the price per unit over time thereby incenting secondary and tertiary partnerships.

Bundled Inventory Distr ibut ion Fiddle is compensated based on a percentage of the total bundle cost. This is in effect a 10% commission per transaction. High/Med/Low bundles, $250/$125/$75, are weighted as 20%/70%/10%, respectively.

Data Analyt ic Subscrip t ions/ Business Intel l igence A three year lag is anticipated for this stream. We believe this to be a conservative approach given that a threshold amount of data is required to provide meaningful pattern identification. A flat subscription fee is assumed.

Financial Project ions

Fiddle generates revenues by scaling two units: Users and Bundles. Users: Arguably there are nearly six thousand different Share providers in existence to date. Of that figure Fiddle drilled down to the top ten providers in terms of annual unique visitors. We aggregated the annual unique visitors across those seven sites and then assumed that we would attract just 1% of that traffic. This is a rather conservative estimate, but subsequent to Year 1 we assume 30% exponential growth YOY. A steep revenue curve was assumed in order to align with both the reality of launching a venture and the growth realized in recent months in the Share Economy. Bundles: We assumed that in Year 1 Fiddle would facilitate the creation of just three bundles per day, in six different urban hubs. Subsequent to Year 1, the numbers of bundles facilitated doubles YOY.

Production Activ i t ies Fiddle is a web-based platform with three lines of business serving Share Economy participants:

1) Search and Discovery 2) Inventory Distribution, and 3) Business Intelligence.

All three lines of business are delivered via web-based storefronts accessible on browser, tablet or mobile interface.

Init ia l System Development

The first production activity is the initial system build, iteration and launch. The physical process of converting skills and IP to a finished platform is manifest in the marketing activities provided in the table below. These are the process activities and targeted milestones per quarter over an 18-month period starting in (xyz) to achieve a system launch in (xyz).

Description Tasks Involved Responsible Parties

Business Development Phase 1

Letter of Intent

Market Fiddle concept to prospective partners.

OBJECTIVE: Receive expression of interest letters from Top 5 prospective partners.

Eric – CEO

Matt - CMO

Business Development Phase 2

Functional Prototype

Specify technical system development needs with initial partners.

OBJECTIVE: Perfect functional prototype with 1st UX/UI.

Bryan – COO

Jake - CFO

Business Development Phase 3:

Private Launch

Execute private launch market Fiddle beta product to pilot users. Conduct user group testing and improve product.

OBJECTIVE: Perfect the UX/UI for Public Launch.

Bryan – COO

Jake - CFO

Customer Acquisition Strategy Phase 1:

Public Launch

Debut Fiddle with a “Mega Bundled Event”.

OBJECTIVE: Gain traction with individual consumers, suppliers and prosumers.

Eric – CEO

Matt – CMO

Customer Acquisition Strategy Phase 2:

Customer Base

Grow the individual consumer, supplier and prosumer user base through advertising and marketing.

OBJECTIVE: Develop a strong user base for leverage in negotiations with partner companies on pricing.

Eric – CEO

Matt – CMO

Scale Operations

Sign Accounts

Target Top 5 prospective Partners: RelayRides, Airbnb, TaskRabbit, Skillshare & GetAround.

OBJECTIVE: Leverage traction and bundled pricing analytics to sign major accounts.

Bryan – COO

Jake – CFO

Following the initial system build, Fiddle’s production processes are focused on updating and expanding the storefronts serving each line of business.

Search & Discovery Storefront Updated and managed by the Fiddle team. Fiddle users search & discover information about Share Economy services relevant to them.

1. Fiddle business development brings new Share Economy company partners on to the site

2. New company partner integrates with Fiddle using the Fiddle API (or partner API)

3. New partners’ inventory is organized per Share category, functionality, geographic location and availability

4. New partner business & new partners’ inventory are made searchable on the Fiddle storefront pages

Inventory Distr ibution Storefront Updated and managed by Fiddle users. Using the Fiddle platform, Fiddle users combine offerings with other users to sell bundled services.

1. Fiddle users import the Share Economy services they use

2. The Fiddle platform suggests valuable bundle combinations to new users

3. The Fiddle platform places new bundles in the appropriate local storefront

4. The Fiddle platform rotates bundled offerings according to demand preferences

Business Intel l igence Storefront Updated and managed by the Fiddle Team, the platform produces information analysis from purchasing patterns and user activity on the site.

1. The Fiddle Analytics Storefront updates daily using the following information:

• Geographic preferences for Share Economy participants • Most searched companies • Most searched terms • Most demanded services • Most active platforms • Average value of Share transaction • Most valuable product & service combination • Location and product attributes of most valuable combination • Demographic data on Fiddle users

2. Fiddle sells subscriptions to access these daily data reports

Cost Analysis

Fiddle has identified the following fixed and variable costs.

Fixed Costs Expenses not dependent upon units sold.

Personnel All non-C-suite salaries provided below represent the market rate for the San Francisco Bay Area as determined by Glassdoor.com. The 15% increase in salary per annum is in lieu of equity and deemed sufficient to retain talent and mitigate turnover.

C-Suite: The CMO, COO, CEO and CFO have agreed to defer compensation until year five. Salaries start at $50k and escalate to $150k in year five. The founders will retain equity ownership.

Marketing: Fiddle plans to launch, in phases, in six densely populated cities. The first phase will require a marketing manager in San Francisco as well as one in New York in order to manage the build-out. Marketing Manager salary $70k to start and increases by 15% per annum. No equity will be granted.

Engineering: Due to the complexity of the venture we will need a strong development team. We will bring on one full-time software engineer, two contract developers and a R&D Manager. Contract developers will be compensated $52k while the software engineer and R&D Manager will receive $80k. Each member of the development team will realize a 15% increase in salary per annum. No equity will be granted.

Administration: We plan to bring on a full-time Accountant and Talent Manager as well as maintain Legal Counsel on retainer. The Accountant and Talent Manager will receive $75k and $50k, respectively. No equity will be granted.

Capital Expenditures These are the capex necessary to scale over five years. Cost estimates provided are based on figures provided by various members of our advisory board. Three year straight-line depreciation is assumed given that the average lifecycle of these technologies is rather short.

Computers, Software & Office Equipment (est. @ $20k/year)

Servers, Bandwidth & Storage (est. @ $18k in year 1)

Server farm capacity will likely increase with the number of Users, we believe it is conservative to assume a doubling in cost every year

Domains, SSL Certs & Misc. (est. @ $5k/year)

Variable Costs

Expenses dependent upon number of units sold.

Facil i t ies & Other Expenses In sum, the facility and utilities are estimated at $24k/year. This is based on the $/sqft. rental rate in San Francisco for 400 sqft. of commercial space. The source of this estimate comes from HBCommercialRealty.com. Also, we have assumed an additional annual expense pegged to 5% of annual revenues.

Other Operating Expenses Here as well we have assumed an additional annual expense for the following opex, pegged to 5% of annual revenues

• Sales & Marketing • Research & Development • General & Administration

In summary, a thorough analysis of Fiddle cost estimates yields a conservative modeling of the next five years. By conservative, we mean to say that costs are estimated on the high side while revenues are estimated on the low side. In order to ensure positive cash flow Fiddle will need to approach external funders each year until Year 4, for an aggregate capital infusion of $1.2M. In Year 4 the Business Intelligence revenue stream will begin to contribute and it is expected that Bundling and Lead generation revenues will continue to grow in their support of Fiddle operations.

Organizational Design Initially, Fiddle will comprise a simple organizational structure characterized by low departmentalization, wide spans of control, centralized authority, and little formalization. The current stage of the business necessitates such a structure in order to allow for agility and to address the varying startup actions, which will require continuous cross-functional collaboration.

As Fiddle matures from a startup into high-growth, the company will begin to organize based on a hub and spoke model. The hub will consist of the founding team and core business operations and spokes will be the specific cities and regions that Fiddle penetrates. This will move Fiddle from a simple structure to a team structure, with each locale consisting of its own self-managed team yet working under Shared Fiddle mission, vision, and values. Undoubtedly, each team will develop its own subculture, however cross-pollination and collaboration will be encouraged to facilitate one company and avoid the creation of cultural silos.

Decision-making will need to be timely and will require some autonomy among the founding team. To facilitate decision-making and communication a meeting structure will be put in place that efficiently and effectively fosters collaboration and openness. This structure is based on Patrick Lencioni’s book, Death by Meeting, and sets up a meeting structure based on several components including daily check-ins, weekly tacticals, monthly (or ad hoc) strategics, and quarterly off-site reviews.

The key roles for the Fiddle organization will be divided according to the core functional competencies needed to build the business. These key roles consist of marketing, operations, finance, pre-sales/ business development, legal and information technology. Though each founder is responsible for a core functional area, each founder is also expected to hone competencies in each area to ensure that strategy remains aligned.

Within each key functional role will exist specific responsibilities. This allocation of responsibilities and objectives will result in efficient and equal distribution and management of the overall workload. The meeting structure will facilitate workload calibrations as it is expected that many tasks and responsibilities will overlap and/or require participation and input from all team members.

Management & Organization for Venture Launch

Management Team Fiddle's founding team brings a wealth of knowledge that spans across Finance, Marketing, Business Development, Operations and Education. Matthew Chic, Eric Irvine, Bryan Mascioli and Jake Wise will all remain on board through product launch, at which point the Fiddle team will reevaluate its financial standing. Each founding member brings something different to the company and with the exception of a technical and legal lead, all roles are filled thus far.

Founders The Fiddle founding team comes from various backgrounds and covers many of the key functions necessary to execute the go-to-market strategy. Matt Chic and Eric Irvine will lead concept demonstration and tease campaign activities while Bryan Mascioli and Jake Wise will lead the product development, team building and financial activities.

Matthew Chic - CMO Matt grew up in Northern California before relocating to Santa Barbara to complete his studies in Political Science. He has since gained years of experience in roles of business development, sales and marketing. He currently is head of Business Development, Marketing & Sales at New Avenue Homes in Oakland.

Eric Irvine - CEO Eric has five years of experience in marketing and project management roles. He received a degree in Marketing from Santa Clara University in 2005. Eric currently works as a project manager at Mesh Labs in San Francisco and has a firm knowledge of many companies and individuals in the Share Economy.

Bryan Masciol i - COO Bryan has six years’ experience in operations, including quality management, as well as eight years in organizational learning and development. He currently manages corporate compliance, education, and development activities at Novartis Vaccines and Diagnostics. Bryan graduated from Bowling Green State University in 1999 with a degree in Environmental Sciences.

Jake Wise - CFO Jake is a Senior Consultant to Cisco Systems and has over 10 years of experience in the financial services industry. Jake received his Bachelor’s Degree in Finance from the University of Colorado, Boulder and currently resides in Oakland.

Actively Seeking - CTO As a web-based platform, Fiddle needs a technical lead to make our creation come to life.

Advisory Board – Target Members Fiddle's four-member advisory board contributes significantly to the well-being of the company by offering guidance that will alleviate some of the operational risk. Each board member comes from a different background with proven experience in the entrepreneurial world.

Lisa Gansky : An author, entrepreneur, and investor, Lisa brings a wealth of knowledge as she was the founder and CEO of Ofoto, sits on the board and advises over a dozen startups, and wrote The Mesh, why the future of business is sharing, a New York Times best seller that describes the benefits of the Share Economy.

Jeremy Barton : JB is the founder and CEO of Legit, a credit rating for the Share Economy. JB's intimate working knowledge of the industry and connection to many of the marquee companies make him an invaluable resource to our team.

Chris Macho: Chris is the head designer at Maximilian & Co. Design in Los Angeles, CA. Chris has over ten years’ experience building websites and mobile applications. His ability to vet our ideas and give us constructive feedback has been extremely beneficial.

Kevin Zellmer: Kevin is the VP of Business Development at Hearsay Social. He founded CannonBall Fine Arts, was the Chairman and CEO of Seabridge Inc. a Web 2.0 fan relationship management platform and the Director of Sales and Account Management at Beyond.com. Kevin has over twenty-five years of experience in the Valley and has proven a valuable asset with regard to informing our thinking around advertising and analytics revenue streams.

References

Alexa the Web Information Company. (n.d.). Retrieved March 7, 2012, from http://www.alexa.com/

Barton, J. (2012, March 2). Share Economy, Legit.

Busque, L. (2012, March 15). Share Economy, TaskRabbit.

Clark, S. (2012, March 13). Carsharing.

Gansky, L. (2012, March 20). Share Economy, Mesh.

Glassdoor – an inside look at jobs & companies. (n.d.). Retrieved May 17, 2012, from http://www.glassdoor.com/index.htm

Kahneman, D. (1979). Prospect Theory. Econometrica.

Macho, C. (2012, March 2). Engineering Costs, Maximilian & Co.

Sacks, D. (2011, 18). The Sharing Economy | Fast Company. Retrieved May 17, 2012, from http://www.fastcompany.com/magazine/155/the-sharing-economy.html

Sarin, S. (2010). Bundling. Wiley International Encyclopedia of Marketing.

Stoll, M. (4 4 12). Shareable: San Francisco Pitched as Beacon of “The Sharing Economy.” Retrieved May 17, 2012, from http://www.shareable.net/blog/san-francisco-pitched-as-beacon-of- %E2%80%98collaborative-consumption%E2%80%99 Tsotsis, A. (n.d.). TaskRabbit Gets $17.8M For “Aggressive” Expansion, Wants To Grow Internationally And Beyond | TechCrunch. Retrieved May 17, 2012, from http://techcrunch.com/2011/12/13/taskrabbit-gets-17-8m-for-aggressive-expansion-wants-to- grow-internationally-and-beyond/

Yarow, J., & Goldman, L. (2011, July 28). GROUPON SURVEY RESULTS: More Than 50% Of Grouponʼs Business Customers Do Not Want To Issue Groupons Again - Business Insider. Retrieved May 17, 2012, from http://www.businessinsider.com/groupon-survey-results-2011-7 Zipcar Doubles Its Asset Backed Securitization Facility to $100M to Support Fleet Growth (NASDAQ:ZIP). (n.d.). Retrieved April 25, 2012, from http://ir.zipcar.com/releasedetail.cfm?ReleaseID=636905

Appendix: Identif ied Competitor Feature Set Matrix Competitor Concept Demographic Streams • Value Gain • Value Loss

Kayak, Pricel ine

Recreation/ Travel

25-34

Female

College

No kids

Work

No Ads • Very simple page

• High ease of use

• Bundling • Mobile App • Offer flights,

hotels, cars

• No collaboration, per se

Expedia Recreation/ Travel

25-34

Female

College

No kids

Work

Ads • Offer affordability

• Bundling • Partnership

with Groupon

• No collaboration, per se

Weekend Sherpa

Recreation/ Travel (outdoors)

25-34, 55-64

Female

College

No kids

Work

Ads • Outdoor activity focused

• Can save favorite experiences

• Outdoor activity focused

• Limited profiling (income, gender, etc.)

• California only • No bundling • No

collaboration, per se

TripAlertz Recreation/ Travel (sustainable tourism)

18-34

Female

College

No kids

Work

Upstream: Shareasale

Downstream: TravelZoo

Ads (social media play)

• Donate 1% of revenue,

• Affiliated with Pachamama Alliance

• Earn cash for travel by inviting friends to the site

• Vote on special package deals

• “My trips” section of the user profile

• Flights, hotels only

• No bundling • No

collaboration, per se

FlexTrip Recreation/ Travel (group tours)

25-44

Male

Grad School

No Ads (API-based revenue model)

• Tours and activities

• Tours and activities only

• No bundling • No

collaboration,

No kids

Work

per se

TripAdvisor Recreation/ Travel

25-34, 55-64

Female

Grad School

No kids

Work

Ads • Reviews heavy • Offers hotel,

restaurant, vacation rental

• Travel “inspiration” page

• Mobile App • Offers sort by

luxury, family or business

• Can access friend trip reviews

• User-generated wiki for reviews of neighborhoods form “real travelers

• No bundling • No

collaboration, per se

TravelZoo Recreation/ Travel

25-34, 55-64

Female

Grad School

No kids

Work

Ads • Travel, entertainment, local deals; search for deals by destination, conduit for bookit.com, fly.com, carrentals.com,

• No bundling • No

collaboration, per se

Uniiverse

Champion 18-34

Male

College

No kids

Work

No Ads • Discover: “authentic” services and activities

• Offers dashboard and profile to create listings

• Discover new things AND/OR become an entrepreneur

• No bundling • Social

movement oriented to the point of being preachy

Meshing.It

Champion 25-44

Male

Grad School

No kids

School/Work

No Ads • Directory by category

• Join for free • Blog and book

push the “concept”

• Big picture

• Breadth but not depth

• Not organized • No bundling

Collaborative Consumption

Champion 25-34

Female

No Ads • Infographics • Blog and book

push the “concept” literally

• Events

• Refers to The Movement

• Not organized • No bundling

Grad School

No kids

Work

• Antenna: Top 3 ideas

• Lab offers consulting and advice for the space

• Identify as a HUB for “Product Service Systems”, “Redistribution Markets”, “Collaborative Lifestyles”

Craigsl ist Business Opportunities

25-34, 45-54

Female

Some College

No kids

Home

No Ads • Organized • Categories:

Community, For Sale, Housing

• Discussion Forums, Event Calendar

• Anonymous!, • Search by

price, location, picture

• Anonymous • No bundling

Shareasale Business Opportunities

45-64

Female

Some College

Yes kids

Home

Ads from featured merchants

• Affiliate network providing pay-per-sale, pay-per-lead, and pay-per-click programs for webmasters

• Caters to people who are looking to make some extra cash by generating leads on commission

• No bundling