investor overview 12-15-13
DESCRIPTION
plitzee, a social purchasing platform, is helping transform how groups pool money online. The mission of the company is to make group online purchasing become commonplace with an outcome of people giving and receiving what they want and feeling good after doing it. Splitzee is an angel-funded company with numerous users and partners, including a $300M online retailer. You can find our platform and group buying widget on any retail website, and can visit us in Boston or online at www.splitzee.com. Splitzee has made a huge technical advancement that changes the way we are able to integrate with commerce partners. We designed the Splitzee B2B platform so that any size online retailer can implement our solution by simple adding two lines of code to anywhere on their website. This simple code then allows the partner to make decisions about product placement, when and where is will show up, and how it will look all from our partner portal… not from within the code of their own site. It puts the decision on whether to integrate in in the hands of the marketing team, not the tech team. Making it this easy eliminates the typical cycle and barriers of a typical enterprise integration. With no cost or time to integrate, we have had a lot of success getting partners to say they are willing to give it a try. We have been active online at www.splitzee.com for 12 months and have about 10k users. We have spent next to nothing on marketing but used our time to find market segments and refine our internal payment and customer management model. In that time we have shown a loyal customer, who gets on average 10 contributions and collections an average of $550 per collection. We have also seen nice viral tendencies that I can run through you in detail. Gross revenue margin is about 6% of total dollars collected, but this is only expected to increase as we start giving the option to cash out with a retail partner product. We are currently looking for a total raise of $2.5M but are initially looking for 500k to get us through the next 2-3 quarters, significantly increase users base, salve for specific business metrics referenced in exec summary, and add on several new B2B partners.TRANSCRIPT
- 1. Transforming the way people pool money.Overview December 2013
2. The problem: we all pool moneyGroup giftingExpense sharingRegistries, wish listsShared meals, group travel, eventsFundraising Charities, scholarships, personal needs, community projects 3. But the process sucks.Chasing people downJuggling cash and checksKeeping track 4. Splitzee removes the suck from pooling money. 5. How Splitzee works 123Create a SplitzeeInvite friends to contribute... online or from a mobile device... through your social networkPurchase from a Splitzee partner ... or cash out to your bank account 6. Splitzee offers different products for different kinds of money poolingWebsite integrations and APIsRegistry and wishlist servicesCustom campaignsButtons and widgets capturing group-purchasing demand on retailer sitesFreestanding services for gathering and monetizing aspirational purchasesCustomized web and mobile collections for specific uses 7. Splitzee has a solution for all the ways we pool money today GiftingExpense sharingFundraisingRegistries, wish listsShared meals, group travel, eventsCharity, personal needs, scholarships 8. User / collection / transaction volumeOnline retail partnerships jumpstart Splitzees growth With online retail partnersViral/consumer-onlyTime 9. Splitzee delivers new revenue to online retailers Retailer website integrationsNew revenue for online retailers5%-25% of each saleCommission to SplitzeeGroup purchase transactionsRegistry and wishlist servicesCustom campaigns 10. Market Potential Online retail is a $252 billion market, growing 29% annually Three online registry categories represent a $14 billion market Online wedding registries Online baby gifts Online group travelSource: MaRS Commons, referralcandy.com$7 billion $4 billion $3 billionOnline retail$252 billionWhat else is out there?Online registries$14billion 11. Competition Online campaigns Expense sharingPersonal fundraisingGroup giftingGroup purchasing platformBroad payment optionsProduct/ purchaseorientedCash out to purchase optionsIntegrations with online retailers 12. Consumer acquisition strategy Year 1Year 2Inbound and social media marketingPromotional and media partnershipsPay-per-click and online marketingBanner advertisingOnline retailer referralsPartner promotionsContributor conversionActive referral marketing Publicity 13. Milestones WebsiteWebsite1.01.6Initial Product Development130 0250 0UsersPartner Widget (Beta)Chrome Plugin (Beta)Website2.0Users8k460kUsersRetail Partner Solicitation186k UsersUsersFirst350250Retail partnerPlug-in platformsMajor partnersMajor partners$50k$100k$200k$6.5m$13mProcessed fundsProcessed fundsProcessed fundsProcessed fundsProcessed fundsFallDecemberDecemberDecemberDecember20122012201320142015 14. TeamBrad Hartman CEOAndrei Oprisan CTOMichael Sattler COOWendy Savage OperationsLuke Peterson FounderCamelot Capital, LucidIQWayfair, LycosPunchey, Cauzoom, Endurance InternationalLiberty Mutual, Goodwin ProcterFirst Republic Bank, Wells Fargo 15. Ive never seen a service like this. It makes total sense and I will definitely be using it in the future. Customer Marchelle Lien, February 2013 16. Transforming the way people pool money. [email protected] | splitzee.com | 855.446.5262