Your communities. Your products. Your passions.

An app to save, share, and

discover the products that

define the communities that

you are passionate about121

INTERVIEWS

AMAR PATELMBA 2015

OMAR AYOUBMBA 2015

CARMELA AQUINOMBA 2015

CARLOS LASAMIMS 2016

OUR TEAM

Amar PatelMobile and adtech expertise

Strategy consulting experience

Omar AyoubMobile engineering expertise

Google and Microsoft experience

Carmela AquinoProduct marketing expertise

Digital analytics experience

Carlos LasaUX and design expertise

CPG brand management experience

We believe that mobile has the power

to make commerce easy.

1 To hear the truth, put customers on the spot

2 Don’t try to solve everyone’s problem – focus

on a specific, real customer first

3 When in doubt: go very broad for discovery,

then very narrow for nailing the fit

4 Don’t overbuild the MVP

5 Pivot ruthlessly, even if it hurts

WHAT WE LEARNED IN CLASS

Market

Type

Value

Proposition

Product

Type

Customers

Business

Model

WEEK 110 interviews

TODAY121 interviews

Cross-platform Apple

Pay for e-commerce

merchants

App for sharing

passions through

products

Mobile commerce Social commerce

Ease of use for payments

Fulfillment of emotional

needs – belonging and

achievement

Merchants with mobile appsConsumers who identify with

product-centric communities

% of transactionsCommissions on product

sales, advertising fees

Horizontal feature Vertical platform

The Apple Pay for any mobile platform

A tool for converting customers through

retargeted mobile ads

A universal shopping cart

An app to save, share, and discover the

products that define the communities

that you are passionate about

WHO ARE WE?

Payments were not high on merchants’ priority

list of concerns

PIVOT 1

…then a tool for converting customers

through retargeted mobile ads…While merchants loved the adtech idea,

consumers weren’t as excited about ads

PIVOT 2

…then a universal shopping cart…While general consumers liked the app idea, a

compelling value proposition was still lacking

PIVOT 3

…to where we are today!Sharing and engaging with communities gives

consumers a reason to come back

PIVOT 4

ACTIVE COMMUNITIES

Fulfill higher-level emotional needs – belonging and acceptance

Have relatively high barriers to entry due to knowledge and gear required

Already encourage a culture of sharing with newcomers

1/5 of our interviewees were climbers,

runners, triathletes

$500amount that an active

triathlete can spend per

month on gear

Interviewees went to trusted friends or

experts for product advice, not Amazon

Many have interests in multiple activities

Newcomers can benefit the most from a

community-based service that offers helpful advice

“With a sport like climbing,

where the barriers to entry are

high, it can be intimidating to

get started. A community like

this would help.”

How the business works…HOW WE ARE DIFFERENT

Pinboards for

saving images

and other media

Climbing-

specific forumApp that allows

you to browse and

save products

Fitness social

network using

gamification

Product-specific,

with dynamic

price updates and

stronger

community focus

Allows for users

to engage with

other

communities

Stronger

community focus

around shared

passions

E-commerce is

enabled

throughout the

platform, making

gear hunting easy

PRODUCT CONCEPT

OUR DIFFERENTIATION

How the business works…

Recommend

Buy

CommissionCustomer Info

Advertising

Research

Share/Keep/Contribute

Build & Manage

Demand

Build & Manage

Supply

Build & Manage

Platform

Consumers

Merchants

Web

Products

Fingerprint

HOW THE BUSINESS WORKSOPERATIONAL FLOW

KEY ACTIVITIES

Revenue Sources

1. Merchants

Affiliate referral bonus (7-9%)

2. Advertisers

Native ad units for product

discovery feed ($2 CPC)

3. Data Management

Partners, Demand Side

Platforms

Audience data for targeting

purposes ($20+ CPM)

Merchants

Sales / BDUsAdvertisers

Data

Partners

7-9% of

Sale

$2 CPC

$25 CPM

User

Acquisition (Social Media Ads)

Platform

Payments In Payments Out

80%

20%

% of Sales

Forecast

We learned that the bulk of revenue

would come from sales commissions

HOW THE REVENUE MODEL WORKS

MVP

http://bit.ly/fingerprintapp

WHAT WE LEARNED ABOUT THE

BUSINESS

It is scalable We first build for niche verticals, identify the parameters

that are specific to these verticals, and make these

parameters customizable as we scale

The revenue model is

defensibleCommissions through affiliate programs are an easy first

revenue source, and our data becomes more valuable as

the platform scales

How to work with

partnersWe understand the ecosystem of merchants, advertising

companies, and ecommerce vendors, and have built

connections with them

There are key metrics

that matterGMV (gross merchandise value) is more important than

advertising spend, and 30-day retention can be more

critical than monthly growth for commerce companies

We have a

differentiated value

proposition

Our target customers don’t use substitute product-focused

platforms today – they see the value of what we’re

building, with some even willing to pay for it

WHY WE ARE NOT PURSUING

THE OPPORTUNITY FURTHER

We don’t feel we’re the right team to pursue

the opportunity

You really need to live and breathe the active

lifestyle community in order to sell to it

We aren’t truly passionate about social

networks – it’s an opportunity we stumbled upon

APPENDIX

Market Sizing

TOTAL AVAILABLE MARKET

SERVED AVAILABLE MARKET

TARGET MARKET

$14.0B 2015 U.S. social commerce market1

$2.8B U.S. social commerce from affiliate channels2

$557.2M U.S. social commerce from

affiliate channels in Apparel

and Accessories categories3

2015 2016 2017

Growth Rate 43.0% 43.0% 43.0%

TAM ($B) 14.0 20.0 28.6

SAM ($B) 2.8 4.0 5.7

Target Market ($B) 0.56 0.79 1.14

1 Forrester, Booz & Co.; 2 VigLink; 3 eMarketer

MARKET SIZING

Competitor Leaf

Diagram

Funding Raised

Acquisition Value

$122M

$75M

$1.3M

$35M

Public Value of Parent

Company (Market Cap)

$290M

Undisclosed

Undisclosed

$212.1B

$762.5M

$43M

Undisclosed$14M

$176.5B

Undisclosed

$176.5B

$20.5M

Seed

$2.8M$387.2B

Seed

$7.5M

$979.0M$78.7M

$1.5M$34.6M

$109.5M Undisclosed

Undisclosed

fingerprint

Value Proposition Canvas: CONSUMERGains

1. Sense of belonging to a

community (“I can call

myself a climber now”)

2. Social acceptance,

validation, and

recognition

3. Confidence of making

well-informed purchase

decisions

4. Sense of coolness and

personal improvements

VALUE PROPOSITION CUSTOMER SEGMENT

Products & Services1. Community-based

feed: a social

network to connect

and have

conversations

around products and

activities that define

the community

2. Easy one-click

solution allowing

consumers to

bookmark products

they come across on

the social network

and online

Pain Relievers1. Prevent not knowing

where to start with a new

activity

2. Prevent: buying the

wrong product and not

being a part

3. Prevent: paying too

much for a product

Customer Jobs1. Getting closer to

their aspirational

self

2. Learning about the

latest trends with

products for an

activity - getting an

in

3. Making

recommendations

to others and

participate

4. Show off your

passion to the

world

Gain Creators1. Connect with others who

share the same passion

for activities and products

2. Receive the right

information to actually

buy the right products

3. Curate the future you

Pains1. Sense of being lost due to

lack of knowledge about

gear for the activity

2. Feeling like an outsider for

this activity

3. Not having the right

products - hence not

exploiting their full potential

4. Envious of higher

performing peers and

paraphernalia

5. Sense of disorganization

with keeping tracks of all

the products in the life you

want

Active Community Characteristics

Newcomer Contributor / Gear Heads Expert

CyclistsClimbers

Fitness Enthusiasts

RunnersSurfers Snowboarders

Triathletes

Experience Level of Community Members

Barriers to Entry for Activity Communities

Hikers

HIGH MEDIUM LOW

Social - Difficult to bridge the gap

from being a newcomer to being a

part of the community without others

- Requires you to work with other

people to improve

Technical - Requires technical gear

to fully participate

Social - Often get into this with the

help of others who are already

active members; but can practice on

their own

Technical - Requires technical gear

to fully participate

Social - Can practice on their own

Technical - Requires only minimal

technical gear to participate

ACTIVE COMMUNITY CHARACTERISTICS

GREEN – Interviewed, with high need

RED – Interviewed, but low need

Unit Economics Analysis

Key Takeaway:

Commissions off of purchases are

the key

Goal: Get users to spend about

$35 through our platform to break

even on CAC

UNIT ECONOMICS ANALYSIS

Key Activities

Build & Manage Demand Build & Manage Supply

● Marketing activities (social media,

influencer marketing) to drive app installs

● Drive engagement and active usage

through deal pushes

● Incentives & referrals

● Create partnerships with merchants for

commissions and product

recommendations

● Offer native advertising capabilities

Build & Manage Platform

● Build mobile app and web app

● Build robust backend for catalogue

● Bookmarking extension

● Maintain product feeds and scrapers

● Build recommendations engine

● Handle payments and checkout flow

Three critical types of activities that feed off each other:

KEY ACTIVITIES

Key Resources & Partners

Resources Build & Manage Platform Build & Manage Supply Build & Manage Demand

Human Engineers/Designers Biz Dev

Partners: Merchants and

Affiliate Programs

Marketing Manager

“Experts” / Influencers

Partners: Social Media (FB)

and Ad Networks

Financial Friends/Family/Angel Friends/Family/Angel Frrends/Family/Angel

Physical Offices, computers and

devices

Partners: PaaS (Azure,

GAE)

Intellectual Algorithms Native Ads Support &

Template

Partners: Mobile SSPs

Customer Lists and Data

Key Activities

KEY RESOURCES AND PARTNERS