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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.,[object Object]
User Experience design,[object Object],System Architecture,[object Object],* 12 international design awards,[object Object],* Co-founded olaworksInc,[object Object],  (4M series A from Intel &   ,[object Object],Skylake),[object Object],* Co-founded 1/2 PROJECT,[object Object],* Software engineer for 3 years,[object Object],  (NHN Corp, iconlab Inc.),[object Object],* Wide range of experience ,[object Object],  such as online shopping,,[object Object],computer vision, and internet,[object Object], radio,[object Object],Minjong Chung,[object Object],1st MS (CS),[object Object],Sungjoon Kim,[object Object],1st MS (d-school),[object Object],Front-end building,[object Object],Market research,[object Object],* Cognitive Science major,[object Object],* Developed an iPhone app on,[object Object],   iTunes (SpotAlarm),[object Object],* Ex-medical student,[object Object],* Project manager in network,[object Object],security for 3 years,[object Object], (Comtrue Tech),[object Object],* Software engineer for 1 year ,[object Object],  in social network and a social,[object Object],  shopping service,[object Object], (Paprika Lab),[object Object],Daniel Poon,[object Object],1st MS (CS),[object Object],Jeongjin Ku,[object Object],1st MS (EE),[object Object]
Business Canvas #1,[object Object],Seller: - Access to large online customer pool,[object Object],- Bulk sales with reduced commission,[object Object],Buyer: - Better discounts,[object Object],- Maintainingonline buyer/seller communities and credibilityof transactions- Promotionof website and brand ,[object Object],- Powerful sellers,[object Object],- Server providers,[object Object],- Automated services- Communities of buyers and sellers- Co-creation of value through customer feedback ,[object Object],Multi-sided platformSeller:,[object Object],Pro-sellers in Amazon and eBay who sell electronicsBuyer:,[object Object],Online shoppers,[object Object],[object Object],-Online social networks,[object Object],- Physical resources (IT infrastructure)- Existing social networks -Buyer and seller communities,- Brand awareness,[object Object],Seller side:- transaction fees ,[object Object],Buyer side:- targeted ads,[object Object],- Variable costs: server and traffic maintenance costs- Fixed Cost: rent, salaries ,[object Object]
Key Question for Business Canvass #1,[object Object],WHO WILL BE OUR CUSTOMERS?,[object Object],DO THEY FEEL ENOUGH VALUE? ,[object Object]
Seller Side Test with a fake E-MAIL,[object Object],Give me a quote,[object Object],for a bulk sale!,[object Object],Electronics Sellers on Amazon/Ebay,[object Object],FAKE CEO,[object Object],(Steve Feiberg),[object Object],57%,[object Object],showed interest,[object Object],90%,[object Object],sell products ,[object Object],on Amazon,[object Object],[object Object]
22% paid 5~10% transaction fee
78% agreed it was too much
33% actually provided discount proportional to group size,[object Object]
Seller Side,[object Object],Interview with Industry Specialist (eBay),[object Object],[object Object],Large sellers already have sufficient traffic,[object Object],[object Object],Sellers may want to clear the out-of-date products with huge discount,[object Object]
User Side,[object Object],: Online User Survey,[object Object],Power to choose products,[object Object],Discount on products,[object Object],Buyer community feedback,[object Object]
Business Canvas #2,[object Object],Seller: - More customer traffic,[object Object],- Bulk sales with reduced commission,[object Object],Buyer: - Better discounts,[object Object],- Power to choose product deal,[object Object],- Buyer community feedback on products and sellers,[object Object],- Maintainingonline buyer/seller communities and credibilityof transactions- Promotionof website and brand ,[object Object],[object Object]
 Sellers who need more traffic- Server providers,[object Object],- Automated services- Communities of buyers and sellers- Co-creation of value through customer feedback ,[object Object],Multi-sided platformSeller:,[object Object],Trustworthy online sellers  with verifiable websitesBuyer:,[object Object],Online shoppers who are willing to wait to get significant discounts on products,[object Object],[object Object],-Online social networks,[object Object],- Physical resources (IT infrastructure)- Existing social networks -Buyer and seller communities,- Brand awareness,[object Object],Seller side:- transaction fees ,[object Object],Buyer side:- targeted ads,[object Object],- Variable costs: server and traffic maintenance costs- Fixed Cost: rent, salaries ,[object Object]
Key Question for Business Canvass #2,[object Object],HOW CAN WE ATTRACT BUYERS?,[object Object],CUSTOMER ACQUISION COST?,[object Object]
Buyer Demand Test,[object Object],Best Marketing Channel for having buyers is Facebook Wall,[object Object],: 144 Unique Visits,10 e-mail subscriptions for 3 days,[object Object],Facebook Wall,[object Object],Google Adwords,[object Object],Facebook Ads,[object Object],5%,[object Object],0.08%,[object Object],0.005%,[object Object],(CTR),[object Object],$7.52,[object Object],$4.88,[object Object],$0,[object Object],(COST),[object Object]
Business Canvas #3,[object Object],Seller: - More customer traffic,[object Object],- Bulk sales with reduced commission,[object Object],Buyer: - Better discounts,[object Object],- Power to choose product deal,[object Object],- Buyer community feedback on products and sellers,[object Object],- Maintainingonline buyer/seller communities and credibilityof transactions- Promotionof website and brand ,[object Object],[object Object]
Server providersEstablished services- Online Marketing : Google/Facebook,[object Object],- Automated services- Communities of buyers and sellers- Co-creation of value through customer feedback ,[object Object],Multi-sided platformSeller:,[object Object],Trustworthy online sellers  with verifiable websitesBuyer:,[object Object],Online shoppers who are willing to wait to get significant discounts on products,[object Object],[object Object]
 Online social networks
 Online advertising- Physical resources (IT infrastructure)- Existing social networks -Buyer and seller communities,- Brand awareness,[object Object],Seller side:- transaction fees ,[object Object],Buyer side:- targeted ads,[object Object],[object Object],- Online ad campaigns,[object Object]
Key Question for Business Canvass #3,[object Object],HOW CAN WE ATTRACT SELLERS?,[object Object],COOPERATION WITH SELLERS?,[object Object]
Seller Contact,[object Object],Deal with sellers failed because no group pricing or discount too low.,[object Object],Organize Real Group Deal,[object Object],[object Object]
3 products: HD camera, protein drink, videogame
Videogame was for pre-orderResult,[object Object],[object Object]
Discounts offered < 10%
With shipping and tax still >= Amazon price
David vs. Goliath problem,[object Object]
Seller problem intractable?
Teaching staff: Pivot or else…Beaten, but not defeated,[object Object],[object Object]
Only contacted larger sellers
Sellers need more value
Show them a real websiteFilter advice and stay determined!,[object Object],No Pivot Yet,[object Object]
Solution 1 : Rapid Implementation,[object Object],Implement seller & buyer side features to give sellers  fuller experience. ,[object Object],Site Upgrade Frenzy,[object Object],[object Object]
Buyer facebook login
Online social networking integration
Seller login and registration
Seller bidding
Seller group deal creation page,[object Object]
Solution 1 : Rapid Implementation,[object Object],The Real Deal ,[object Object]
Solution 1 : Rapid Implementation,[object Object],Main page,[object Object],Facebook connect,[object Object],Deal creation by sellers,[object Object],Bidding dialog,[object Object]
Solution 2 : More seller value & spamming,[object Object],Add value for sellers based on mentor and industry expert interviews,[object Object],Add Seller Value,[object Object],[object Object]
Customer contact information
Cross-selling products
Ad banners

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