2. Vision – Be the world’s favorite way to shop on-the-go! Simply put, our vision is to be consumers’favorite way to shop at stores all over the world. We aspire to become the buyer’s best friend by providing an intuitive end-to-end mobile shopping solution. We also aim to be the preferred in-store mobile commerce solution for retailers, helping them achieve higher operational efficiency, topline, and margins.
3. The Unmet Need Shoppers’ pain points Time wasted for buyers with in-store staff for product inquiries and waiting in line. Buyers want more convenience, speed, & control in their shopping experience: Get the right product at the right price and place. Dissatisfaction with loyalty programs -- cumbersome signup process, lack of good incentives, and one-size-fits-all pricing. Unwanted paper(receipts) and plastic(cards). Retailers’ pain points Retailers are facing tremendous top & bottom line pressures due to increasing uptake of ecommerce, and consumers’ higher propensity to save after the recent economic downturn. Inventory management – ensuring customers get what they want, while ensuring that stores don’t lose money due to excess inventory. Limited analytics around customer behavior, acquisition, churn rates, and shopping patterns. Low adoption rates for loyalty programs and private label store cards.
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6. If we assume that 10% of the total shopping revenue eventually flows through our product, the addressable market in the US alone is $10 billion.
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8. Product features (cont’d) “Custom” price and offers for every customer! Check product reviews, recommendations, and demos (web + network)
9. Product features: simplified loyalty program signup Sign up using profile info is a “fill once, use anywhere” model. The buyer’s profile info stored with us is passed seamlessly to the retailer’s loyalty system, where the account gets created and the number is passed back to us. This is much simpler & faster than the cumbersome hard copy process today and is expected to significantly improve loyalty program uptake. For a detailed walk-through of all product features, please see the “Demo Instructions” section of the application.
10. Why now? High degree of smartphone penetration, consumers looking to spend smart Revenue and margin pressures for retailers, and need to differentiate the in-store experience.3 Majority of the big US retailers are looking to go mobile within the next 2-3 years.3 Shoppin’Pal Comfort with using a smartphone during shopping in-store1, preference for self checkout2 1: According to a Google Insights report, over 70% of shoppers have used a smartphone while shopping in-store. Of these, 36% have used a smartphone throughout the buying process. 2: in the 2009 Self Service Consumer Survey, 85% people indicated that they had used retail self-checkout within the last 6 months. Driving this use, consumers cited speed, convenience, and control as the primary benefits of self-checkout. 3: Based on research reports and our interviews with prospective retail customers.
21. Market Research and Validation Conducted several interviews with retail executives and store managers . Key themes and findings from the discussions: Poor data/insights around customer acquisition, churn, and engagement. Lack of analytical insights => absence of data-driven strategies. Low (3-6%) adoption rates with loyalty programs. Lot of interest from the big retailers to leverage Mobile to solve key issues such as inventory management, sales effectiveness, and consumer engagement. Shoppin’Pal addresses all the major concerns that were brought up by our prospective customers.
23. Team: CEO Praveen Chandran, Founder and Chief Executive Officer Praveen currently manages PayPal’s product performance for a portfolio of 16 products spanning from online checkout to consumer debit cards. He has over eight years experience in consulting, business development and strategy driven by business analytics with specific focus on media research, ecommerce, online payments and enterprise and consumer software. He has immense expertise in product management, project management and people management and was leading a team of 21 members at PayPal. Praveen is currently a final year MBA student in Haas School of Business, University of California, Berkeley. He also holds a bachelors degree in electronics and communications engineering from a top-tier Indian University and diploma in software engineering from NIIT.
24. Team: Business Co-founders Sriram Subramanian, Co-Founder, VP of Product Development Sriram currently manages PayPal’s Express Checkout product line, which is among the top 3 revenue generators for the company. He has over nine years experience in enterprise and consumer software, with expertise in ecommerce, payments and security. Sriram was part of an 8-person startup called Trustgenix, which was acquired by HP in 2005. Prior to Trustgenix, he worked in a variety of roles spanning applied research, tech strategy, and consulting. Sriram is currently pursuing his MBA at Haas with an Entrepreneurship focus, and holds an MS in Information Networking from Carnegie Mellon University. Sridhar Krishnamurthy, Co-Founder, VP of Business Development Sridhar currently leads the business development strategy for the enterprise and service provider networking solutions at Altera Corporation. He has 9+ years of experience in systems design, vendor partnerships, and solutions strategy for high speed communication applications using programmable semiconductors. Prior to Altera, Sridhar was a hardware architect at two technology startups - Alpine Technologies and Data Transit Corp. Sridhar holds a Masters Degree in Electrical Engineering from University of Texas at Dallas and he is currently pursuing his MBA with focus in Entrepreneurship at Haas.
25. Team: Technical Co-Founders PulkitSinghal, Chief Design Architect Pulkit has worn many hats ranging from front-end UI design and development to optimizing back-end architecture over his 5 year employment with HP. He is a seasoned security expert, a trait he gets from his time spent in a Federated Identity Management startup known as Trustgenix, whose acquisition paved the way for his initiation to HP. Before that he was inducted into the world of worker bees by starting work at JP Morgan Chase, right out of college, after finishing his MS in Computer Science from NYU Poly. SriramanKrishnamoorthy, Chief Technology Architect Sriraman is responsible for delivering the Visual Voicemail application to Sprint in all their smartphone lineup. He joined Smith Micro Software as part of the acquisition of Core Mobility Sotware Inc. While at Core Mobility, he has acquired over 10 years of experience working with Tier-1 carriers and OEMs to produce world-class mobile applications such as VVM, Wireless Contact backup service etc. He takes pride in the fact that nearly all of the phones sold by Sprint contains an application that he has worked on. Sriraman holds an MS in Electrical & Computer Engineering from Virginia Tech.
26. A survey conducted by BIGresearchfound that consumers plan to spend $688.87 per person during the 2010 holiday season, and 25 percent of adult smartphone owners plan to research or make purchases using a mobile device. That figure jumps to 45 percent when the subject population is young adults between the ages of 18 and 24.1 Adoption rates for mobile devices are accelerating so fast that forecasts from just a few years ago are completely outdated. In 2005, mobile payments totaled $155 million and were forecast to hit $10 billion by 2010.2 Actual mobile payments for 2010 are on track to be closer to $100 billion and double, to $200 billion, in 2011. In addition, mobile payments for digital and physical goods are forecast to reach almost $630 billion by 2014. There is no doubt that mobile technology for retail is no longer a trend, but a necessary way of doing business. Exhibit A: Market Research data from National Retail Federation
