Mashpotato glimpse
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Transcript of Mashpotato glimpse
restaurants and cool stuff recommended by restaurant professionals
Stephen Duke | [email protected]
604 369-2545
twitter: @mashnik
FOODIES want to cut through the noise
RESTAURANT professionals want to grow their online reputation.
…until now, there hasn’t been a place for foodies and restaurant people to connect and call their own.
THE social e-commerce platform where foodies get expert opinions about restaurants and cool stuff they can buy for their home.
Unlike the competition, MASHPOTATO’S recommendation engine is driven by chefs and restaurant professionals that want to build their online reputation and get more exposure & followers.
WHY MASHPOTATO NOW?
FOODIES want to follow their favorite chefs and restaurant people – and they’ll buy stuff…..it’s a $20 Billion market category.
Comparable e-commerce/food
• $2.5 Billion Valuation
• 2-years, $1Billion Valuation, $112 Million Revenues 2012
• UrbanSpoon $1Billion Valuation (rumored)
• Open Table $2.5 Billion Valuation
• Thrillist, $120 Million Valuation, total capital raised $15m, Revenues $60 M++
HOW? Business Model
ProfessionalsRecommendation
Engine
Foodies
Purchasing Power
restaurants, cool stuff, lifestyle
brands
PlacesSubscription
Marketing Services
Marketplace
Affiliate Revenue
• E-commerce 10% -15% Gross profit
• Subscription-based marketing services for restaurant and brands. Gross Profit 30%
16
MANAGEMENT TEAM
• 25-years of executive experience in technology and hospitality• consultant to top franchises on digital marketing & finance• co-founded George Mobile, high-growth technology start-up • co-founded and sold chain of 95 restaurants
STEPHEN DUKE, MBACEO
• 20+ years international e-commerce projects• founder of Marine Drive Mobile Corp.• developed, implemented and consulted on platforms for BestBuy, sears, Shoppers
Drug Mart, Yahoo, Rogers and Future Shop.
COLIN MACDONALDTechnocrat
• owner and chief designer for epic home designs• established and exited “Tastymon”, the leading supply of coffee to BC’s film
industry
STAN CHONGCreative Director
• experienced front and back-end developer• manages an amateur writing non-profit• restaurant experience
CHRIS ROUTHLead Developer
• 15-yrs designing for international clients, sesame street, ninth house, Motorola and Citigroup.
• teaches new media and web design at BCIT, and has presented his work at south by southwest.
ANTHONY CHARLESDesign Director
• designed web and branding for Coldwell Banker, Henderson development, NAI interactive, Tranzcom, personal mobility, London motor cars, Marco Polo tours
• web communication chair of graphic designers of Canada
PAULINE LAIUser Experience
STEVE LORENZVP Biz Dev
• co-founded e-Loan, Startup incubator, director various startups• experienced film producer• based in Silicon Valley
How do we find Pros? And the Joes?
DISTRIBUTION: community building
� Restaurant Associations
� Chef’s Associations
� Linkedin and other social media interest “Groups”
� Hospitality Exhibitions/shows
� Food/Trade magazine publisher partnerships
� Food Network (online)
� Affiliate marketing networks
� Sponsored Ads
� food blog[s, ers]
� Social media
Mashpotato
Yelp Foursquare
Chefsfeed
FED Eater FAB Fancy Urbanspoon
Opentable
Primary Format
Social Network
Geo-App Geo-App App App Blog Store Store Geo-App App
ECommerce ���� X X X X X ���� ���� X X
Findrestaurants ���� ���� ���� ���� ���� X X X ���� ����
Ranked by experts ���� X X ���� ���� X ���� ���� X X
Ranked by anyone X ���� ���� X X X X X ���� ����
Make a Reservation ���� ���� ���� X X X X X ���� ����
User profiles���� ���� ���� X X X X X ���� X
Two-way
social network
���� X ���� X X X X X X X
Post content���� ���� ���� X X X X X ���� ����
Virtual currency ���� X X X X X X X X ����
Marketingservices ���� ���� ���� X X ���� X X ���� X
Competition Matrix
Exit
Series B $20m
Series A $5m
Series Seed $2m
Angel $300k
Founders $40k
Dominance
Growth
Launch
everywhere
Beta Launch
Alpha Launch
Planning/Design
we
are
he
re
2013 end Q3 Q2 2014 Q1 2015 2016
Finance Road Map
REVENUE: Early Adopters >>> Early Majority CHASM >>> Late Adopters
MASHPOTATO Business Model Canvas
Key Partners
Deal Management System for
“Offers” (DMS)
Foursquare (Database)
Amazon (E-Store)
Answers.com (Distribution)
Key Activities
Platform building:
simple log-in process
ready-to-curate content
(Gear)
implement Restaurant
database Social/game
mechanics
integrate social sharing
integrate (DMS) for “offers”
Branding:
front end UI development
Customer Development:
presentations to Beta market
organizations
Landing pages/Funnel
Social Media
SEO
Market Validation:
Vancouver Beta (closed)
Los Angeles Beta (closed)
Key City Beta (open)
Value Proposition
“Restaurants and Gear Rated
by Restaurant Pros for
Regular Joes”
Restaurant Pros:
“Finally, an easy way to build
a following and/or do more
business with less
complexity”
Regular Joes:
“Finally, a recommendation
engine for WHY you should
patronize a Restaurant or
buy certain kitchen Gear on
line”
Outcomes for Both:
status
recognition
economic value
Customer Relationships
Online Web-App
Mobile Website
Social Media
Customer Segments
Restaurant Pros:
Chefs, Restaurateurs,
Bartenders, Servers,
Sommeliers, Baristas, food
Bloggers
Regular Joes:
People unsatisfied by review
apps like Yelp & UrbanSpoon
Urbanite “foodies”
followers of
Chefs/Restaurants
Cost StructureAWS
Hosting
Deal Management software
license (Rev Share)
Channels
Answers.com
Hospitality Conference
Seminars
Canadian/US Fed Chefs de
Cuisine; Chef’s Table Society
etc.
CFRA/USRA & their online
resources
Food/Dining Blogs
Social media followers of Pros
and Food Bloggers
Affiliate Sites
Social media marketing
SEO, SEM
Revenue Stream
Joes & Pros: Free to use
Subscription for Restaurants:
$10 +++/month
DMS for “Offers”
Enhanced Profile
Media Kit
Customer Data
Open Table Reservation
Commission $1.50/seat
E-Store Commissions 15%
Key ResourcesOperating System: Windows
Web server: Apache
Database: MySQL
API Framework: Django
(Python)
Client Side: jQuery,
Backbone.js , Underscore.js,
Jade, RequireJS, HTML5 and
CSS3