1. OURCRAVE is an online social shopping platform where customers can make their own deals on products or services of their choosing with sellers who can offer them in bulk at a discounted price.

2. User Experience design System Architecture * 12 international design awards * Co-founded olaworksInc (4M series A from Intel & Skylake) * Co-founded 1/2 PROJECT * Software engineer for 3 years (NHN Corp, iconlab Inc.) * Wide range of experience such as online shopping, computer vision, and internet radio Minjong Chung 1st MS (CS) Sungjoon Kim 1st MS (d-school) Front-end building Market research * Cognitive Science major * Developed an iPhone app on iTunes (SpotAlarm) * Ex-medical student * Project manager in network security for 3 years (Comtrue Tech) * Software engineer for 1 year in social network and a social shopping service (Paprika Lab) Daniel Poon 1st MS (CS) Jeongjin Ku 1st MS (EE)

4. Key Question for Business Canvass #1 WHO WILL BE OUR CUSTOMERS? DO THEY FEEL ENOUGH VALUE?

6. 22% paid 5~10% transaction fee

7. 78% agreed it was too much

10. User Side : Online User Survey Power to choose products Discount on products Buyer community feedback

13. Key Question for Business Canvass #2 HOW CAN WE ATTRACT BUYERS? CUSTOMER ACQUISION COST?

14. Buyer Demand Test Best Marketing Channel for having buyers is Facebook Wall : 144 Unique Visits,10 e-mail subscriptions for 3 days Facebook Wall Google Adwords Facebook Ads 5% 0.08% 0.005% (CTR) $7.52 $4.88 $0 (COST)

17. Online social networks

19. Key Question for Business Canvass #3 HOW CAN WE ATTRACT SELLERS? COOPERATION WITH SELLERS?

21. 3 products: HD camera, protein drink, videogame

23. Discounts offered < 10%

24. With shipping and tax still >= Amazon price

26. Seller problem intractable?

28. Only contacted larger sellers

29. Sellers need more value

30. Show them a real websiteFilter advice and stay determined! No Pivot Yet

32. Buyer facebook login

33. Online social networking integration

34. Seller login and registration

35. Seller bidding

37. Solution 1 : Rapid Implementation The Real Deal

38. Solution 1 : Rapid Implementation Main page Facebook connect Deal creation by sellers Bidding dialog

40. Customer contact information

41. Cross-selling products

42. Ad banners

44. Stanford takes notice and issues warning (oops)

45. Enumerate value propositions

46. Show live website

48. Seller Invitation Result 180 sellers # of sellers who signed up # of deals made by sellers 80 deals (below Amazon price)

49. Seller Invitation Result # of sellers who replied to our email 200 sellers # of sellers who made suggestions on OURCRAVE 50 sellers

50. Seller Invitation Feedback We’ve got two major feedback Who will be in charge of Shipping Cost & Sales Tax ? There are too diverse Product Categories

53. Online social networks

55. Key Question for Business Canvass #4 Key Activities for Next Stage Can we make enough money?

57. Bulk List Uploading Function

59. Share buyer information

64. Extra Discount

65. Free shipping or tax Coupon

66. Live comment on cravebags

67. Weekly Best cravebag vote

68. Youtube Ads Competition* OurCrave User Survey in 2/3 weeks

69. Revenue / Cost Source Revenue Cost Product Ads Transaction Fee ( Main ) Float Money Site Maintenance Marketing ( Main ) Customer Support Server/Traffic /Mobie Apps 15% of transaction Ads for buyer Seller Management 3~5% ( paypal) Outsourcing 20%/60days* * google/groupon’s rule, we are asking sellers about this rule.

71. MARKETING COEST IS MAIN COST

72. BREAK-EVEN IS 3 DEALS/DAY*Appendix in Blogs

75. Online social networks

77. Key Lessons

78. APPENDIX : FULL BM HISTORY

79. Business Canvas – Week 1 Seller : - More customer traffic - Bulk sales- Lower transaction feesBuyer : - Better discounts - Platform/Networkmanagement (maintaining online buyer/seller communities and credibility)- promotion of website and brand - Powerful sellers - Server providers - Automated services- Communities of buyers and sellers- Co-creation of value through customer feedback Multi-sided platformSeller :pro-sellers on Amazon and eBayBuyer :Online shoppers - Web & App sales - Online social networks - Physical resources (IT infrastructure)- Existing social networks - Buyer and seller communities,- Brand awareness - Variable costs: server and traffic maintenance costs- Fixed costs: rent, salaries Seller side:- transaction fees Buyer side:- targeted ads

80. Business Canvas – Week 2 Seller : - More customer traffic - Bulk sales- Lower transaction fees- Brand name marketingBuyer : - Better discounts - Power to choose product deal - Platform/Networkmanagement (maintaining online buyer/seller communities and credibility)- promotion of website and brand - Powerful sellers - Server providers - Automated services- Communities of buyers and sellers- Co-creation of value through customer feedback Multi-sided platformSeller :pro-sellers on Amazon and eBayBuyer :Online shoppers - Web & App sales - Online social networks - Physical resources (IT infrastructure)- Existing social networks - Buyer and seller communities,- Brand awareness - Variable costs: server and traffic maintenance costs- Fixed costs: rent, salaries Seller side:- transaction fees Buyer side:- targeted ads

81. Business Canvas – Week 3 Seller : - More customer traffic - Bulk sales- Lower transaction fees- Brand name marketingBuyer : - Better discounts - Power to choose product deal - Buyer community feedback on products and sellers - Platform/Networkmanagement (maintaining online buyer/seller communities and credibility)- promotion of website and brand - Powerful sellers -Regionalsellers - Server providers - Automated services- Communities of buyers and sellers- Co-creation of value through customer feedback Multi-sided platformSeller : Sellers on Amazon and eBayBuyer :Online shoppers who are willing to waitto get significant discounts on products - Web & App sales - Online social networks - Physical resources (IT infrastructure)- Existing social networks - Buyer and seller communities,- Brand awareness - Variable costs: server and traffic maintenance costs- Fixed costs: rent, salaries Seller side:- transaction fees Buyer side:- targeted ads

83. Business Canvas – Week 5 - Platform/Networkmanagement (maintaining online buyer/seller communities and credibility)- promotion of website and brand Seller : - More customer traffic - Bulk sales- Lower transaction fees- Brand name marketing - Access to customer contact information - Ability to cross-sell products - Site advertising Buyer : - Better discounts - Power to choose product deal - Buyer community feedback on products and sellers - Sellers who need more traffic -Regionalsellers - Server providers - Automated services- Communities of buyers and sellers- Co-creation of value through customer feedback Multi-sided platformSeller : Sellers on Amazon and eBayBuyer :Online shoppers who arewilling to waitto get significant discounts on products - Web & App sales - Online social networks - Onlineadvertising - Physical resources (IT infrastructure)- Existing social networks - Buyer and seller communities,- Brand awareness - Variable costs: server and traffic maintenance costs- Fixed costs: rent, salaries - Online ads Seller side:- transaction fees Buyer side:- targeted ads

84. Business Canvas – Week 6 Seller : - More customer traffic - Bulk sales- Lower transaction fees- Access to customer contact information - Cross-sell their products.- Site advertising- Power to create dealsBuyer : - Better discounts- Power to choose product deal- Buyer community feedback on products and sellers - Platform/Networkmanagement (maintaining online buyer/seller communities and credibility)- promotion of website and brand - Sellers who need more traffic -Regionalsellers - Server providers - Automated services- Communities of buyers and sellers- Co-creation of value through customer feedback Multi-sided platformSeller : Sellers on Amazon and eBayBuyer :Online shoppers who arewilling to waitto get significant discounts on products - Web & App sales - Online social networks - Onlineadvertising - Physical resources (IT infrastructure)- Existing social networks - Buyer and seller communities,- Brand awareness - Variable costs: server and traffic maintenance costs- Fixed costs: rent, salaries - Online ads Seller side:- transaction fees Buyer side:- targeted ads - float money

85. Business Canvas – Week 7 Seller : - More customer traffic - Bulk sales- Lower transaction fees- Access to customer contact information - Cross-sell their products.- Site advertising- Power to create dealsBuyer : - Better discounts- Power to choose product deal- Buyer community feedback on products and sellers - Platform/Networkmanagement (maintaining online buyer/seller communities and credibility)- Promotion of website and brand - Sellers who need more traffic - Regionalsellers - Server providers Established services- Online Marketing : Google/Facebook -Payment Gateway : Paypal- Customer Service (Front side webservice) : Self- Customer Service (Product side) : Sellers- Delivery : Sellers - Automated services- Communities of buyers and sellers- Co-creation of value through customer feedback Multi-sided platformSeller :Sellers on Amazon and eBay Seller: Trustworthy sellers with verifiable websites.Buyer :Online shoppers who arewilling to waitto get significant discounts on products - Web & App sales - Online social networks - Onlineadvertising - Physical resources (IT infrastructure)- Existing social networks - Buyer and seller communities,- Brand awareness - Variable costs: server and traffic maintenance costs- Fixed costs: rent, salaries - Online ads Seller side:- transaction fees Buyer side:- targeted ads - float money

86. Business Canvas – Week 8 Seller : - More customer traffic - Bulk sales- Lower transaction fees- Access to customer contact information - Cross-sell their products.- Site advertising- Power to create dealsBuyer : - Better discounts- Power to choose product deal- Buyer community feedback on products and sellers - Platform/Networkmanagement (maintaining and growing online buyer/seller communities and credibility)- Promotion of website and brand - Establishing credibility - Sellers who need more traffic Established services- Online Marketing : Google/Facebook -Payment Gateway : Paypal- Customer Service (Front side webservice) : Self- Customer Service (Product side) : Sellers- Delivery : Sellers - Automated services- Communities of buyers and sellers- Co-creation of value through customer feedback Multi-sided platform Seller: Trustworthy sellers with verifiable websites.Buyer :Online shoppers who are willing to wait to get significant discounts on products - Web & App sales - Online social networks - Onlineadvertising - Physical resources (IT infrastructure)- Existing social networks - Buyer and seller communities,- Brand awareness - Variable costs: server and traffic maintenance costs- Fixed costs: rent, salaries - Online ads Seller side:- transaction fees Buyer side:- targeted ads - float money