2011 Spring / Getting from an Early Idea to a Real Business

Final Presentation

Hajin Lim

Rocket jump to the world

, developing “Location-based social network”,to help people who want to connect based ontheir own favorite places, by making it easy to make new friends andcommunicate each other through mobile App, with Local business Marketing tool.

GPS Smart phone

Information High Low

High

Low

So

cial

Share any kinds of places; restaurant, gallery, park, tourist attraction, etc :

- Photos, videos and Comments archive

- Friends recommendation / Share friends list with

- Local business Marketing tool

- Fun factor : Visit ranking

- Friends recommendation : more than 2 common favorite location

- Watch list : New photo & comment from my friends or from added places

- Nearby place Recommendations / Search

- Owner of a store : Control their pages / Update their latest news, special deal or coupon

people Loves

Pics & comments

people Loves

Pics & comments

By, gretyy34We love GGB, next time, we’ll bring bicycles yey!!: )

2.0 mi Mayflower Seafood restaurant 57 people loves

157 Pics

2.1 mi Palace of Fine Arts 35 people loves

67 Pics

Name Popularity

Check-in

Photo archive

Be a friends with her

Events and deal of this store

Home

• Augmented reality by using camera

• Photo +comments archive

• Add a place & Add photo

What’s Next?

• Search locations by keyword

• Recommendation by friends, distance and interest

Watch list

• Friends’ updateactivity

• Added place's page update Activity

Friends

• Friends recommendation based on common places

• Manage place list and friend list

• Connect with other social networks

Info

• Customizesettings

• Private info

Make and Keep regular customers; Enhance loyalty

Grade Latest Visit

First In a week (7 days)

Second In 2 weeks (15 days)

Third In a month (30 days)

Forth In 2 month (60 days)

Fifth In 3 month (90days)

Depending on the grade, special offer like discount or up size up will beoffered.

- Give the right to control store’s page to owners

- Mobile/web Ad

- Social commerce

Basic ($20/month) Premium ($30/month)

-Own store’s account.-Direct Newsfeed to customer-Deliver Coupon and redeem code.-Blocking Recommendation of nearby store-In Search result, it’s showed more prominently-Launch various events and deal depending on visit ranking

News feed (Max 3/day)Provide Monthly Data

News feed (Max 5/day)Provide Weekly data

-Privacy issue-Limited target

- People’s recognition -Have no bargaining power to cooperate with big companies

-Easy to expand it to another service model like online dating , recruiting and social commerce.- Powerful local communication channel

-- -Many preoccupied social network based on location

- Gathering users is not so easy-Hard to convert from

-free member to paying member

- Clear revenue model as marketing tool- Easy and intuitive interface- Focus on keeping regular customer- Making new friends -Ideal mixture of informational and social Weakness

ThreatenOpportunity

Strength

SWOT

- Easy and fun brand imaging : “Locat” ion

- First Six month : as a Basic member

- Affiliate with big restaurant and coffee chain to spread “Locat” quickly

- Develop specific local- based services with major social-commerce company

- Online Ad : SEO, Google AdWords, Facebook, blog

- PR at variety kind of media

Revenue Q3 2011 Q4 2011 Q1 2012 Q2 2012 Q3 2012 Q4 2012

Menbership service revenue $0 $9,500 $45,000 $108,000 $270,000 $420,000

Mobile/Web Ad revenue $0 $590 $8,700 $12,700 $28,000 $38,000

Affiliate revenue $0 $5,000 $23,000 $75,000 $104,000 $194,000

Total Revenues $0 $15,090 $76,700 $195,700 $402,000 $652,000

Cost

Salaries and wages $23,000 $23,000 $45,000 $52,000 $78,000 $97,000

Marketing&Advertising $5,000 $8,800 $12,500 $19,000 $23,000 $55,000

Web hosting and domains $3,000 $8,000 $12,000 $24,000 $40,000 $80,000

Rent $0 $0 $3,000 $3,000 $5,000 $5,000

Research and development $300 $1,000 $7,000 $4,000 $10,000 $20,000

Utilities $100 $100 $530 $530 $600 $1,000

Travel $2,000 $3,000 $3,000 $2,000 $5,000 $3,000

Legal $30,000 $1,500 $1,500 $1,500 $1,500 $1,500

Accounting $1,300 $1,300 $1,300 $1,300 $1,500 $1,500

Interest $3,750 $3,750 $3,750 $3,750 $3,750 $3,750

Other $1,000 $2,000 $5,000 $500 $3,000 $5,000

Total SG&A $69,450 $52,450 $94,580 $111,580 $171,350 $272,750

[42]

Net Income -$69,450 -$37,360 -$17,880 $84,120 $230,650 $379,250

Growth Rate 46.2% 52.1% 570.5% 174.2% 64.4%

- The company seeks to raise $150,000 from angel funding and start-up capital.

- Within 5 quarters, we expect to reach profitability.

Rocket jump to the world