Team 33
Let’s PARTAY!www.letspartay.com
Team:
Last 24 hrs:• Users: 25• Survey: 82• Venues: 4• Total: 123
Total:• Users: 236• Survey: 121• Venues: 18• Total: 375
Customer Feedback:Metrics that Matter:
Adoption: • Users: 46• Venues: 4Revenue: $100
• Mike Malone• Juri Kondratev• Yan Wang
App Screenshots (Beta)
The Canvas - Start
Cost Structure• Staff Costs• Hosting Costs• iPhone SDK• Hardware, Software• Legal, Accounting• Marketing, Social media campaign
Revenue Streams• % on online party sales through the App• % of purchase from grocery coupon sales• Upgrades to eliminate pop up ads & for larger groups • Professional version $20 per month• Banner Ads, Pop Up Adds• Bar / lounge monthly fee ( e.g., $20), tab commission
Key Partners• Event Planners• Club promoters• Bars /Lounges• Alcohol
distributors• Online
distributors:– Soap.com– Amazon.com– PartyCity.com– Ebay.com
Key Activities• Help People
Organize Parties & Events
• Connect Party Organizers with Venues & Vendors
Customer Relationships• Individual Users
(low) • Party/Event
Planners – (moderate)
• Bars / Lounges/ Venues (frequent)
Value Preposition• Easy Party
Organizer• Complete
integration (one stop shop)
• Social features• Fast organization• Discount on party
supplies
Customer Segments• Individual
Organizers• Professional
Organizers/Event Planers
Key Resources• Android App
Store• Apple App Store
Channels• Event Planners• Club promoters• Bars/Lounges• Referrals by
Existing Users• Social Media
The Canvas – More Focused
Cost Structure• People/Team• Hardware, Software, Hosting Costs, App Store• Legal, Accounting• Marketing, Social Media campaign
Revenue Streams• Commission on Group Events for Bars/Lounges• Commission on Auctions/Bids• “Featured Bar” Revenue• Priority Access Revenue
Key Partners Key Activities Customer Relationships
Value Preposition Customer Segments
Key Resources* Website/App Stores* Technology* People/Team
Channels
* MBA/EMBA Student Groups (2,000+ )* Student Groups
* Venues near University that have excess Capacity
Get: Referrals, Social Media, GoogleKeep: Desired dealsGrow: Add user Groups
Get: Add more BusinessKeep: Ongoing VolumeGrow: Add venues
* Direct Sales* Guerilla Marketing* Distributers
* Guerilla Marketing* Social Media* Google Search* App Stores
Social InfluencersStudent GroupsStudent Clubs
Bars/Lounges/Venues
* Develop Website/App* Build Relationships with Student Groups* Broker best value DealsConsumer Analytics
* Develop Website/App* Build Relationships with Venues* Broker large volume deals
* Bring more business Venues* Marketing/visibility of Venue
* Group Deals at Bars* Find Happy Hours
What We Learned
1. Initial Hypothesis
2. Experiments
3. Results4. Iterations
New MVP
People want an Individual Party Organizer App
Will you pay for it?How often will you use it?
No, will not pay!Only use 5x per year!
Focus on Deals for Groups in public Venues!
Add Value for Groups & Venues
Big Idea??
Next Steps
• Phase 1:– Focus on initial Target Customer Segment– Get traction with Columbia MBA/EMBAs & local Venues– Learn & Adjust
• Phase 2: Expand in New York:– Columbia Law School & Other Columbia School & Faculties– NYU– Other NYC Colleges
• Phase 3: Enter other big cities
Appendix
Competitive Analysis
Mobile Apps
Review & Social Networks
Individual
Facebook (1B)Evite (22M)PaperlessPost (5M)
Yelp(100M)Foursquare (45M)Thrillist (2.5M)
Professional Event Planners
Social Media& Online
WebsitesTop NY Happy Hour Results
Woodanddales (paid add)Drinkdeal.com (#1 Search)Nyhappyhours.com(#2 Search)Drinkowl.com (#3 Search)
LET’SPARTAY!
Smartphones(133M)
Foursquare (45M)Thrillist 889KHappy Hour Finder (119K)
EventBase (5M)Grupio (5K)
Site/App What it does
Price &
UsersDeals Bid low
price Form new
groups
Send invites
& socialBar
Map
Link or export to
other sources
Website
ThrillistLists of
recommended places to eat and
drink
Free889K
Pre-edited √ √ √ √
YelpReview Reserve
for Restaurants & Bars
Free29M
Pre-edited √ √ √
Four square Search Free
33MPre-
edited √ √
Hourdrinks
Search for happy hour deals in a
given neighborhood and
day
Free5.4K
Week Days √
Happy Hour Finder
Search for happy hours nearby
Free191K
Week Days √ √ √
LETS PARTAY
1. Finds happy hours; 2. form groups and get
lower prices√ √ √ √ √ √ √
Competitive Analysis
Customer Profile – Venues
• Bars around universities (e.g., Columbia, NYU)
• Size: 40+ Seats• Times with free
Capacity • Parties that have
Internet connection
Customer Profile – Party Organizers
• Social Chairs of Student Groups
• University Event Organizers
• Alumni Groups• EMBA Clusters
(700+ people)
Happy Hours Matter for Business!!
Observations:
Happy Hour No Happy Hour