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Venture Lab Technology Entrepreneurship OAP 2013
Transcript of Venture Lab Technology Entrepreneurship OAP 2013
What is Bemy.co ?
For people, who wants to go out but can’t find friends to join, Bemy.co is a platform which helps to find a company for any crazy activity.
Experienced VC and marketing professional.
Took part in the selection of social media/ internet companies for FINAM Global portfolio and supported existing companies with growth recommendations.
Professional developer. Co-founder and CTO of "Mimimir" travel startup, was involved in development of various social media and internet projects.
Unlike existing social networks or dating web-sites, our product does not set any limitation on the potential audience or the goal of interaction and focuses on helping you to make the choice by yourself and move to offline world easy and fast.
Write about desired activity
Spread the word among the wish circles.
Receive a notification and confirm.
Enjoy the meetup!
Find a company for any crazy idea you want to participate
1st year realistic user reach : 400 thousand
Online dating users in Russia: 20 mln.
Online dating users in Moscow : 2 mln.
4.2 billion for the last three years
2012 - 1.6 bln rub
2011 - 1.4. bln rub
2010 - 1.2 bln rub
Online dating market in Russia revenues:
Estimated revenue projections for Moscow:
y-o-y market growth +12%
penetration is stable:
18-25 y.o - 10%
25-44 y.o - 5%
ARPU - $1
penetration is increasing from Y3:
18-25 y.o +10% y-o-y growth
25-44 y.o +5% y-o-y growth
Note: Global online dating market potential is huge - $4 bln for 2012, so in case the business model is proved in Moscow, global expansion is possible
Bemy.co lessons and timeline
Venture Lab students
Peer recognition among all classes:
12.7% conversion rate
20+ face-to-face interviews
18 would use our service
“It's a very easy idea but very original and effective.”
“I really appreciate this idea - connecting people together to do things that perhaps their own friends wouldn't do.”
“Good idea. I think it has good potential”
100% positive feedback
high motivation to improve
Dating web-sites have a very bad reputation and target on some relationships, while in social networks you are limited with the community of your friends.
But more and more people prefer to switch to offline meetups, than spending time chating online.
Introducing easy and effective way to discover people offline through mobile platform, inforce the interaction between users with geolocation service and tags.
Started working on the idea at May 2013 during the course of Technology Entepreneurship
We are both active internet surfers and use social network for interaction with friends. We are passionate to participate in more activities and discover new people more effectively
Offline social discovery concept
Social discovery landscape is very competitive, as both social networks and online dating web-sites has the similar mission, but in the online-to-offline segment there's still some room
- successfull business model in NY, San-Francisco, London, but noone has acquired a market leadership
-no established competitors yet
We are running our startup lean and currently running tests on our business model, having 2 basic scenarios in mind:
1. Freemium model
2. B2B Model
Introducing additional fees for the promotional services, exclusive memberships, etc.
Paid advertising from the providers of activities (restaurants, bars, movies, etc...) and special offerings.
# 1. Change in original idea: previously we had 2 different ideas for the project
# 2. Became more focused on particular audience after customer interviews
# 3. Work on our prototype after the feedback of Venture Lab students