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Copyright © Mivesta 2011
The Social Network Prob/ortunity


•  Social networks: share info, status &
   play games 

•  Mostly text, not real time action. 

•  Talk about doing stuff, rather than
   doing it together.



How can we connect people to do
stuff together, like in real life?
Cook-along with Mivesta….
 1.  Social collaboration
     portal

 2.  Real time, interactive
     video streams

 3.  Multiple users-
     video, text, audio
     chats

 4.  Cook-along with
     chefs or friends

 5.  Experiential, real,
     social events demo

Enchant our community members with creating, sharing, & learning…
Market for Cooking, Connected

      Online “Foodies”

 Service
             Users
                                         •  Sticky addressable market
 FoodBuzz
              14.0 M users 
                                         •  81% of US adults enjoy
 FoodNetwork
            7.8 M users
                                            cooking @ home.
 Allrecipes.com
         7.3 M users
                                         •  15% of US adults watch
 Food.com
               4.8 M users
                                            cooking TV “very often.”
                         1.1 M apps
 Epicurious
                         1.5 M users
                                         •  Tech: tablets, mobile,
                         2.0 M apps
 Big Oven
                          .5 M users 
      broadband, & video
Sources: Quantcast 2010; CNN-app
downloads & Harris Poll



How can we connect people to create, share & learn?
Competition Cook-Off

                    Food Network 
                                     AllRecipes &
                                                         SocialEyes
                                                                       Ustream &   
   Mivesta→
                                      FoodBuzz
                         YouTube

Written recipes
and photos

User video
library

Educational Chef
or Pro videos

Social sharing or
commentary

Live video
streaming events
     TV shows

Interactive Video
streams




                                        Copyright © Mivesta 2011
Team Mivesta: Creative & Smart




  Richard          Andrea Fuentes
      Roberto Andrade &       Amanda Sanchez
      Amy Jhie Zhao
  Velasquez
                            Greg Bachrach
  Visionary CEO
   Make it Happen       Weapons Grade           Art Director
        System
                   CoFounder
           Developers
                                  Analyst/Intern
  UF Senior -      Business             Synthovation Tech       Online, offline, &   Development &
  Advertising
     Generalist
          Partners
               mobile media
        testing
  Sales            Cook, artist,        IT Infrastructure
      7+ years             5 years
  experience
      educator, MBA
                               experience
          experience
                   Prior Start up       17 + 22 yrs exp
                   experience



                                    Copyright © Mivesta 2011
Early Launch: Enchant & Engage

•  Supportive community beta: invited foodies &
   bloggers

•  Sponsors - select SoFla restaurants & chefs

•  Local events & PR - Taste of Brickell 

•  Word of Mouth - cook-alongs

•  Niche Ads- FoodBuzz, InfluAds

•  Social media & SEO

  Mivesta will constantly code & release per user loves/hates.
                        Copyright © Mivesta 2011
Phases of Development

                                                          Idea or
1.  Bootstrap building phase
                           Suggestion
   –  Scalable MVP web app
   –  User Beta launch 5/3
                                              Assess
                 Develop

2.  iPad App - launch 8/1

3.  New features – ongoing
   –  Continuous process
   –  User driven 
                                               Data
                   Code

4.  Scale up for growth 2012
                                                           Test
5.  Non-profit education arm 

                    Agile, user-centered process
                            Copyright © Mivesta 2011
Monetized Business Model

•  Free, ad-supported from day 1
  –  Stage 1: AdSense & sponsored events
  –  Stage 2: Targeted, interactive ads
  –  Stage 3: Event-linked deals & major sponsors

•  VestaChefs - rating/mentor system; % of ads

•  Focus: make users happy through sharing
   creative, active, real-life connections


    Projected break even run rate within 12 months
                      Copyright © Mivesta 2011
Investment Opportunities/Plans

Pre- Launch
   Founder Capital
             $80K
         -Start up cost
               (excluding sweat                           -Building MVP
               equity)

Stage 1
       Friends & Family
            $20K+
        -Launch cost
Launch
        (through 5/11)
                            -Hosting & new features


Stage 2
       Angel Round
                 $300K
Rollout
                                                          -iPad app build
                                             (soft)
      -1 FTE developer 
                                                          -IT infrastructure
                                                          -Interactive ad 
                                                          -Hit breakeven
                                                          -Minimal founder $ 




                              Copyright © Mivesta 2011
Questions & Answers




              Copyright © Mivesta 2011

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Pitchdeckinestormivestav2.3

  • 2. The Social Network Prob/ortunity •  Social networks: share info, status & play games •  Mostly text, not real time action. •  Talk about doing stuff, rather than doing it together. How can we connect people to do stuff together, like in real life?
  • 3. Cook-along with Mivesta…. 1.  Social collaboration portal 2.  Real time, interactive video streams 3.  Multiple users- video, text, audio chats 4.  Cook-along with chefs or friends 5.  Experiential, real, social events demo Enchant our community members with creating, sharing, & learning…
  • 4. Market for Cooking, Connected Online “Foodies” Service Users •  Sticky addressable market FoodBuzz 14.0 M users •  81% of US adults enjoy FoodNetwork 7.8 M users cooking @ home. Allrecipes.com 7.3 M users •  15% of US adults watch Food.com 4.8 M users cooking TV “very often.” 1.1 M apps Epicurious 1.5 M users •  Tech: tablets, mobile, 2.0 M apps Big Oven .5 M users broadband, & video Sources: Quantcast 2010; CNN-app downloads & Harris Poll How can we connect people to create, share & learn?
  • 5. Competition Cook-Off Food Network AllRecipes & SocialEyes Ustream & Mivesta→ FoodBuzz YouTube Written recipes and photos User video library Educational Chef or Pro videos Social sharing or commentary Live video streaming events TV shows Interactive Video streams Copyright © Mivesta 2011
  • 6. Team Mivesta: Creative & Smart Richard Andrea Fuentes Roberto Andrade & Amanda Sanchez Amy Jhie Zhao Velasquez Greg Bachrach Visionary CEO Make it Happen Weapons Grade Art Director System CoFounder Developers Analyst/Intern UF Senior - Business Synthovation Tech Online, offline, & Development & Advertising Generalist Partners mobile media testing Sales Cook, artist, IT Infrastructure 7+ years 5 years experience educator, MBA experience experience Prior Start up 17 + 22 yrs exp experience Copyright © Mivesta 2011
  • 7. Early Launch: Enchant & Engage •  Supportive community beta: invited foodies & bloggers •  Sponsors - select SoFla restaurants & chefs •  Local events & PR - Taste of Brickell •  Word of Mouth - cook-alongs •  Niche Ads- FoodBuzz, InfluAds •  Social media & SEO Mivesta will constantly code & release per user loves/hates. Copyright © Mivesta 2011
  • 8. Phases of Development Idea or 1.  Bootstrap building phase Suggestion –  Scalable MVP web app –  User Beta launch 5/3 Assess Develop 2.  iPad App - launch 8/1 3.  New features – ongoing –  Continuous process –  User driven Data Code 4.  Scale up for growth 2012 Test 5.  Non-profit education arm Agile, user-centered process Copyright © Mivesta 2011
  • 9. Monetized Business Model •  Free, ad-supported from day 1 –  Stage 1: AdSense & sponsored events –  Stage 2: Targeted, interactive ads –  Stage 3: Event-linked deals & major sponsors •  VestaChefs - rating/mentor system; % of ads •  Focus: make users happy through sharing creative, active, real-life connections Projected break even run rate within 12 months Copyright © Mivesta 2011
  • 10. Investment Opportunities/Plans Pre- Launch Founder Capital $80K -Start up cost (excluding sweat -Building MVP equity) Stage 1 Friends & Family $20K+ -Launch cost Launch (through 5/11) -Hosting & new features Stage 2 Angel Round $300K Rollout -iPad app build (soft) -1 FTE developer -IT infrastructure -Interactive ad -Hit breakeven -Minimal founder $ Copyright © Mivesta 2011
  • 11. Questions & Answers Copyright © Mivesta 2011