Pitch - questions

Problem

1. What is the problem you are trying to solve?

The problem is that people have a hard time organising events. Mainly because no one is a professional event planner who wants to put the time and effort into organising an event. People just want to have fun. And so, they are willing to do things, even if it's not the best.

2. What is the size of the problem? How many people are affected?

I want to say that everyone is affected, but I know that's not true. I think that people that are in college or young adults are the ones that are more affected. They are the ones that are more likely to organise events. And they are the ones that are more likely to use our app.

Product

1. Are you a messaging app? Are you a social network? Are you an eventbrite like?

We are a messaging app that allows users to organise events. The difference between us and social networks or even eventbrite is that we're focusing on people that knows each other. We want to make it easier for people to organise events with their friends, family, colleagues, etc.

2. Do you have a prototype? How does it work?

We have a prototype that we just showed you. It's a very basic prototype, but it shows the main features of our app. We have a lot of ideas, but we want to start with the MVP and then iterate.

3. What are your future plans? What are your next steps after you launch?

We want to start with the base prototype we just showed you. But an MVP is just the beginning. The next step is to integrate a marketplace, deliver a better user experience, and integrate a payment system (ex: Tricount). We have tons of ideas, right now are focusing on the MVP for us to be able to launch and start getting feedback from users. We hope to see traction and then we can start working on the next steps as we raise money.

Company / Financials

1. Who are you targeting? What is the total addressable market?

We are mainly targeting college students and young adults (18 - 25). Our product must be versatile enough for other age groups as well, but we know we have a better chance of success with this age group. We want to start with European countries, mainly because we are based in Europe and we know the market better. But we also want to expand to the US and other countries.

In the first year, we think we can reach 50,000 - 100,000 users. Although it's hard to predict as social platforms growth is typically exponential and hard to estimate. That's why we prefer to keep the numbers low.

2. What is your revenue model? How much revenue do you expect to generate in the first year?

We are going to use a freemium model. We will offer a free version of our app, but we will enable users to buy goods and services with our app. We will take a small percentage of the transaction.

We also want to make large events paid. We will charge a small fee for the event. Events that requires tickets or monitor attendance will be paid.

Finally, small businesses and venues will be able to pay for ranking higher in the suggestions, similar to what Google Search does.

At during the first year, we expect to generate 1$ per user per month. A number that's under the industry average, but as we grow, we will become more interesting for advertisers therefore increasing our revenue.

Later, we will launch a marketplace where users can sell and buy goods specifically for events. We plan to build a reward system, where users can earn points and use them to have discounts on different parts of the app. This will skyrocket our revenue.

3. What do we need money for? How much money do you need?

We need some money to hire contractors, to build the infrastructure and do marketing. Marketing is important to ensure our growth. Ideally, we would need $500k investment. Making an app and start hiring is expensive, and we want to make sure we have enough money to build a great product.

Competition

1. Who are your competitors? How do you differentiate yourself from them?

Because we're the only messaging app capable of self-organising events, we don't have any direct competitors. However, we do have indirect competitors, such as Facebook, Snapchat, Instagram, etc. We will differentiate ourselves by offering a better user experience, and by offering a better way to organise events.

2. What is your competitive advantage? How do you intend to maintain it?

As you understand, we are not in competition with the big socials, our offer is different and we believe we can co-exist. We will differentiate by building an ecosystem that will allow users to organise events and buy goods and services with our app. We will also differentiate by offering a better user experience.

Marketing

1. What is your go-to-market strategy? How do you plan to acquire users?

Our marketing strategy mainly focuses on colleges and universities. We will start by targeting some popular students, like the ones running organisations and clubs. Those students will be our ambassadors. They will be the ones that will spread the word about our app. We will also offer them some perks, like free tickets to events, etc. We know that if one student in a group of friends uses our app, the others will follow.

From there, we also want to become popular by running events ourselves, use social media, etc.

2. How will you encourage users to stay engaged? What are your plans to retain your users?

We know that keeping users engaged is important. That's why in the end it comes to who has the better deal. If we can offer better suggestions, cheaper prices on services and goods than our competitors, we know users will stay.

The second thing, and it's our main challenge, is to be able to retain users, even when not all of their friends are on the app. That's why we want to build a marketplace, so users can buy goods and services with our app. We want to be the one-stop-shop for all their needs. One other feature we're thinking about is a party mode, where users can get suggestions during any event/party.