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Final Project Report

Blink Traffic:   Stevia Angesty      Stanford University
                 Ian Christopher    ENGR 245: The Lean
                 Michael Feng            Launchpad
                 Richard Kidarsa        Winter 2011
Ini$al	
  Product	
  Idea	
  



        Mobile	
  applica+on	
  providing	
  crowd-­‐
         Shanghai                            Lahore
          sourced	
  real	
  +me	
  traffic	
  map	
  in	
  
                  developing	
  countries     	
  




          Bangkok                            Jakarta
Meet the Team	



Stevia Angesty
Michael Feng
Richard Kidarsa
Ian Christopher
Background: Investment Banking and Private
              Engineering, Business
Background: Computer Science
              Engineering
Equity in Asia
Expertise: Indonesian connections, logistics
Expertise: Programming Indonesian connections
           Programming,
experience
Expertise: Finance, Marketing
Role: Technical framework, server-side
      Client application development, website
Role: Financials, Strategy
      Liaising with customers and partners,
development
market research
Business	
  Canvas	
  1	
  
What	
  we	
  did	
  (part	
  1)	
  
•  Interviewed	
  market	
  leader	
  in	
  traffic	
  informa+on	
  
   services	
  
•  Interviewed	
  8	
  corporate	
  customers	
  in	
  Indonesia	
  
Inrix	
  Interview	
  

                                Market	
  Leader	
  in	
  Traffic	
  
                                    Data	
  Services       	
  



Customer	
  Segments:	
  

   Public	
  
   Sector	
                      Media	
  


                Automo$ve	
                           Mobile	
  
Pass/Fail	
  	
  


                                          Criteria	
  
•  Companies	
  in	
  Indonesia	
  do	
  not	
  have	
  the	
  technology	
  to	
  detect	
  traffic	
  	
  

•  Large	
  companies	
  in	
  Indonesia	
  distribute	
  at	
  least	
  200	
  corporate	
  Blackberries	
  to	
  
   their	
  employees	
  

•  At	
  least	
  2	
  companies	
  have	
  strong	
  interest	
  in	
  buying	
  traffic	
  applica+on	
  
Customer	
  Segment:	
  Corporate	
  
Interviewed	
  8	
  poten$al	
  business	
  sector	
  customers:	
  

                         “We	
  have	
  our	
  own	
  proprietary	
  traffic	
  system”




  “Traffic	
  is	
  driver’s	
  responsibility.	
  We	
  will	
  evaluate	
  the	
  fuel	
  usage”




                        “We	
  only	
  give	
  out	
  limited	
  number	
  of	
  corporate	
  Blackberries	
  to	
  employees”




            “Tardiness	
  is	
  tolerable.	
  We	
  use	
  motorcycles	
  if	
  it	
  is	
  too	
  late”   cTc
Customer	
  Segment:	
  Corporate	
  

                               The Dispatchers:
 Customer	
  
                               Sounds cool. It’d be
 Archetypes  	
                more efficient than
                               relying on drivers.


                    Users
Customer	
  Segment:	
  Corporate	
  

 Customer	
                        The Managers:
 Archetypes  	
                    We’d love to have
                                   the app if it works


      Users          Influencers
                       and
                    Recommenders
Customer	
  Segment:	
  Corporate	
  
                     Influencers
                       and
 Customer	
         Recommenders       The Procurement Dept:
                                       Our drivers know the
 Archetypes  	
  
                                       the traffic better
                                       than you!


      Users         Economic Buyers,
                    Decision Makers
Customer	
  Segment:	
  Corporate	
  
                  Influencers
                    and
 Archetypes
          	
     Recommenders
                                  The Drivers:
                                  Are you questioning
                                  our expertise?
       International, local, large, and small
                      companies
     Users         Saboteurs        Economic Buyers,
                                    Decision Makers
Pass/Fail	
  	
  


                                          Criteria	
  
                                             FAIL
•  Companies	
  in	
  Indonesia	
  do	
  not	
  have	
  the	
  technology	
  to	
  detect	
  traffic	
  	
  
   •  Most	
  don’t	
  but	
  large,	
  sophis+cated	
  ones	
  do	
  

•  Large	
  companies	
  in	
  Indonesia	
  distribute	
  at	
  least	
  200	
  corporate	
  BlackBerries	
  to	
  
   their	
  employees	
  
   •  Largest	
  mul+na+onal	
  bank	
  gives	
  out	
  approximately	
  10	
  

•  At	
  least	
  2	
  companies	
  have	
  strong	
  interest	
  in	
  buying	
  traffic	
  applica+on	
  
   •  0	
  out	
  of	
  the	
  8	
  companies	
  we	
  surveyed	
  
Customer	
  Segment:	
  Corporate	
  




Corporates are not our initial target market
Business	
  Canvas	
  2	
  
What	
  we	
  did	
  (part	
  2)	
  
•  Interviewed	
  market	
  leader	
  in	
  consumer	
  traffic	
  
   applica+ons	
  (Waze)	
  
•  Interviewed	
  2	
  Indonesian	
  web	
  startups	
  
•  Surveyed	
  98	
  Indonesian	
  commuters	
  
Waze	
  Interview	
  
                                            100% crowdsourced
                                              traffic targeting
                                                 consumers

            2,500,000
            2,000,000                                   Recently raised $25
    Users




            1,500,000
            1,000,000
                                                         million Series B
              500,000                                          round
                    0
                        2009 (est)   2010   2011




 •  How did they grow?                             Social and gaming features
 •  What markets are they focusing on? North America
 •  What are the key challenges?                   Data costs, cultural differences
 •  How do they make money?                        They don’t…yet
Jagoan	
  Interview	
  
                                      *	
  Indonesian	
  Social	
  App 	
  
                                      *	
  Partnered	
  with	
  Retail	
  
                                               Companies    	
  




 User	
  friendly	
  
interface	
  while	
       SLOW 	
                         User	
  
                                                                	
  
  looks	
  savvy	
       connec$on   	
                   Loyalty    	
  
Disdus	
  Interview	
  
                                      *	
  Indonesian	
  Groupon   	
  
                                   *	
  Poten$al	
  partnership	
  	
  	
  	
  
                                             for	
  adver$sing	
  




          Troublesome       	
         Hard	
  to	
  
            payment    	
           mone$ze	
  before	
  
             method	
                cri$cal	
  mass  	
  
B2C	
  Customer	
  Feedback	
  


      98	
                  2½h                      	
         1h            	
            $8           	
  
 web	
  and	
  phone	
                                      spent	
  in	
  heavy	
  
   surveys	
  in	
         spent	
  in	
  car	
  per	
      traffic	
  (<6mph)	
         on	
  gasoline	
  per	
  
   Indonesia	
    	
                day    	
                   per	
  day   	
                 day	
  
B2C	
  Customer	
  Feedback	
  
20%	
  of	
  reduc,on	
  in	
  heavy	
  traffic	
  would	
  save	
  a	
  person1:	
  

                                                                                                           Blink	
  Subscrip$on:	
  

           50h	
                                                                $42	
  
       saved	
  per	
  year	
  
                           	
                                          gasoline	
  costs	
  per	
  
                                                                             year2	
  
                                                                                                                    $1
                                                                                                                     /month
1.	
  Assumes	
  5	
  working	
  days	
  per	
  week	
  and	
  50	
  workweeks	
  per	
  year	
  
2.	
  Assumes	
  gasoline	
  usage	
  is	
  30%	
  of	
  normal	
  usage	
  during	
  heavy	
  traffic	
  
B2C	
  Customer	
  Feedback	
  

   120	
                   52%	
                  Plenty	
  of	
  $me	
  to	
  use	
  
                                                  mobile	
  devices	
  while	
  
 web	
  and	
  phone	
  
   surveys	
  in	
         USE	
  DRIVERS	
  
                                         	
       commu$ng	
  
   Indonesia	
    	
  




                           46%	
                1.  Mo$vated	
  by	
  3-­‐person	
  
                                                    HOV	
  lanes	
  
                                                2.  Alterna$ve:	
  	
  pay	
  “carpool	
  
                             CARPOOL
                                   	
               jockeys”	
  $2.50	
  per	
  trip	
  
B2C	
  Customer	
  feedback1	
  
 Blackberry	
  leads	
  usage	
  but	
  iPhone/iPads	
  important	
  
 Conclusion:
 Focus on Blackberry first and iPhone/Pad second

                  What mobile device do you use in the car?
    45%         40%
    40%
    35%
    30%                       28%
    25%                                                                   20%
    20%
    15%
    10%                                                   8%
                                            4%
     5%
     0%
             Blackberry      iPhone         iPad         other            None
                                                      smartphones




 1. Data obtained from web and phone surveys of 120 potential customers
B2C	
  Customer	
  feedback1	
  
   What do you do with your              Never	
             Rarely	
        Sometimes	
     Often	
     Always	
   >= Sometimes	
  
   smartphones in the car?	
  
   Work	
                                  39	
                17	
              33	
          6	
         17	
          50%	
  
   Gather traffic information	
            66	
                28	
              17	
          6	
          0	
          20%	
  
   Read news	
                             39	
                22	
              22	
         28	
          0	
          46%	
  
   Browse internet	
                       28	
                17	
              11	
         33	
         28	
          62%	
  
  Community and game mechanics are
   Socialize with friends	
  
   Play games	
  
                                           11	
  
                                           33	
  
                                                                6	
  
                                                               17	
  
                                                                                 28	
  
                                                                                 39	
  
                                                                                              28	
  
                                                                                              11	
  
                                                                                                           44	
  
                                                                                                           17	
  
                                                                                                                         86%	
  
                                                                                                                         58%	
  
   critical to driving usage and virality
How often would you use these                  Never	
           Rarely	
   Sometimes	
   Often	
         Always	
     >= Sometimes	
  
features of our application?	
  
Report incidents	
                                  22	
            28	
           22	
        33	
          17	
           60%	
  
Join a chat	
                                       33	
            28	
           44	
        17	
           0	
           50%	
  
Play mini-games	
                                   44	
            28	
           28	
        22	
           0	
           41%	
  
Ask and respond to questions	
                      39	
            39	
           28	
        17	
           0	
           37%	
  
Find your friends and followers	
                   22	
            39	
           22	
        28	
           6	
           48%	
  
Earn points for driving more	
                      33	
            39	
           22	
        22	
          11	
           44%	
  


1. Data obtained from web and phone surveys of 120 potential customers
Business	
  Canvas	
  3	
  
What	
  we	
  did	
  (part	
  3)	
  
•  Assessed	
  market	
  size	
  
•  Tested	
  demand	
  crea+on	
  via	
  website	
  
How	
  Big	
  is	
  the	
  Market?	
  
     1.    Located	
  outside	
  the	
  U.S.,	
  Western	
  Europe,	
  and	
  Australia	
  
     2.    Mobile	
  penetra+on	
  rate	
  *	
  popula+on	
  >=	
  4	
  million	
  
     3.    Popula+on	
  density	
  >=	
  2500	
  per	
  sq	
  km	
  
     4.    GDP	
  growth	
  rate	
  >=	
  5%	
  

                                                                    China:
                                                                    Beijing, Shanghai,
                                                                    Shenzhen




            Total cities: 24                       Mediterranean:
                                                   Istanbul
                                                                                           North Asia ex-China:
                                                                                           Taipei, Hong Kong,

            Total mobile users: 203.7 million
                                                                                           Seoul
       Latin America:
       Mexico City                  Africa:
                                    Cairo, Lagos
                                                        South Asia:                 SE Asia:
                                                        Mumbai, Delhi,              Jakarta, Surabaya,
                South America:                          Kolkata                     Bangkok, Singapore,
                Rio de Janeiro, Sao                                                 Kuala Lumpur, Manila
                Paulo, Bella Horizonte,
                Lima, Santiago. Buenos
                Aires
Market	
  Growth	
  Plan	
  


                                                                               Rest of
                                                                               World
                                                     Rest of Asia              • Brazil (Rio de
                                                     • India (Mumbai,            Janeiro, Belo
                                                       Kolkata, Delhi)           Horizonte
                                                     • China (Bejing,          • Buenos Aires
                                  Southeast
                                                       Shanghai,               • Cairo
                                  Asia:                Shenzhen)               • Istanbul
                                  • Surabaya         • Hong Kong               • Lagos
                                  • Bangkok          • Taipei                  • Lima
                    Jakarta       • Singapore        • Seoul                   • Mexico City
                                  • Bangkok                                    • Santiago
                                  • Kuala Lumpur
                                  • Manila


Market                 1                       2                          3                        4

Cumulative number      1                       6                          15                       25
of cities
Cumulative mobile     10.4                   36.9                        109.6                    203.7
users (millions)


                      Detailed income statement and assumptions in Appendix
Success	
  Depends	
  on	
  Virality	
  >	
  Churn	
  
  Ra+o	
  of	
  early	
  stage	
  virality	
  rate	
  to	
  churn	
  rate	
  =	
  2.00x	
  
Success	
  Depends	
  on	
  Virality	
  >	
  Churn	
  
  Ra+o	
  of	
  early	
  stage	
  virality	
  rate	
  to	
  churn	
  rate	
  =	
  1.50x	
  
Success	
  Depends	
  on	
  Virality	
  >	
  Churn	
  
  Ra+o	
  of	
  early	
  stage	
  virality	
  rate	
  to	
  churn	
  rate	
  =	
  1.0x	
  
Demand	
  crea$on	
  via	
  website	
  

              1	
                               2	
               3	
  




 “Not	
  a	
  landing	
  page”	
     Doesn’t	
  show	
  the	
  
 No	
  Indonesian	
  version	
           product   	
  
Demand	
  crea$on	
  via	
  website	
  -­‐	
  results	
  
              Clicks                          CTR
 100                    74       2.00%                   1.56%
                  68                             1.25%
  50    22                       1.00%   0.59%

   0                             0.00%
        1         2      3                1         2      3
              People need to use the product
              CPC us to maximize learning click
                for             Conversions per
 1.5   1.34                      6.00%
                                                         4.05%
  1                     0.62     4.00%           2.94%
                 0.54
 0.5                             2.00%
                                         0.00%
  0                              0.00%
        1         2      3                1         2      3
Business	
  Canvas	
  4	
  
What	
  we	
  did	
  (part	
  4)	
  
•  Developed	
  server	
  backbone	
  integrated	
  with	
  OSM	
  
   and	
  Hadoop	
  
•  Built	
  a	
  working	
  Blackberry	
  applica+on	
  
•  Iterated	
  based	
  on	
  user	
  feedback	
  
•  Talked	
  to	
  poten+al	
  partners	
  
Server	
  Backbone	
  with	
  OSM	
  and	
  Hadoop	
  
 OSM	
  DATA	
       BLINK	
  DATA	
  

                    MAP	
  MANAGER	
  

                                           TRAFFIC	
  
   USER/EVENT	
                             DATA	
  
    MANAGER 	
        Front	
  End	
  

                                         AGGREGATION	
  


                         Client
                              	
  
Blackberry	
  applica$on	
  tes$ng	
  
•  Iterate	
  through	
  different	
  versions	
  




   Ver1




                   Ver2



                                  Ver3
First	
  release	
  issues	
  
     Device	
  cannot	
            Different	
  
      connect	
  to	
           provider	
  semng	
  
        internet  	
             for	
  Indonesia	
  


      Downloading	
                 Fix	
  website,
                                                  	
  
        problems
               	
                     Provide	
  
                                    instruc$ons   	
  



      People	
  don’t	
         Pop	
  up	
  window     	
  
      want	
  to	
  leave	
      to	
  force	
  people	
  
        feedback       	
       to	
  give	
  feedback     	
  
Second	
  release	
  issues	
  

         Bad	
  GPS   	
       Use	
  data-­‐assisted	
  
          signal 	
                     GPS   	
  



                                     Show	
  
     Users	
  dislike	
  
                               instruc$ons	
  and	
  
       Pop-­‐ups   	
  
                                 pop-­‐up	
  once	
  



    Users	
  have	
  old	
  
                               Support	
  older	
  OS	
  
    Blackberry	
  OS    	
  
Second	
  release	
  feedback	
  result	
  



   User	
  wants	
  to	
                                       So	
  far	
  50	
  
                                  Want	
  traffic	
  data	
  
  see	
  their	
  friends	
  
                           	
                                 downloads            	
  
Third	
  release	
  
    Implemented	
          User	
  can	
  locate	
       20	
  downloads	
  
      chamng	
  
             	
            others	
  on	
  map 	
        since	
  release	
  3	
  
                                                               days	
  ago	
  

                                                           5	
  new	
  users	
  
                                                         introduced	
  via	
  
                                                                 sharing 	
  

 Feedback on 3rd release:
     Privacy	
                      Baoery	
  life	
  


    Implement	
                   Adjust	
  server	
  
   privacy	
  toggle	
              ping	
  rate	
  
Key	
  Partners	
  
                                                        AGM	





   Market	
  share:	
  44%	
  mobile	
  
                                               Interested	
  in	
  partnering	
  if	
  
   phone	
  service	
  &	
  18%	
                                                            Disdus	
  will	
  adver+se	
  Blink	
  
                                               Blink	
  can	
  provide	
  them	
  free	
  
      Large companies are hard to negotiate. Blink will
   internet	
  mobile	
  phone	
  
   service	
  
                                               traffic	
  informa+on	
  
                                                                                             in	
  their	
  website	
  

        focus more on partnering with other Startups
   Currently	
  looking	
  for	
  
   mobile	
  applica+on	
  to	
                AGM	
  owns	
  trucking	
  fleet	
  
                                                                                             Blink	
  will	
  adver+se	
  Disdus	
  
   partner	
  to	
  increase	
  internet	
     (>100	
  trips/week)	
  in	
  Java	
  
                                                                                             in	
  the	
  Blackberry	
  
   service	
  usage.	
  Telkomsel	
            region	
  which	
  can	
  help	
  Blink	
  
                                                                                             applica+on	
  
   wants	
  a	
  large	
  number	
  of	
       in	
  genera+ng	
  traffic	
  data	
  
   users	
  before	
  partnering	
  
Final	
  Business	
  Canvas	
  	
  
Epilogue:	
  What	
  we	
  learned	
  
•    MVP	
  has	
  to	
  iinclude	
  virality,	
  not	
  just	
  traffic	
  
                     to	
   nclude	
  virality,	
  not	
  just	
  traffic	
  
•    Legal-­‐ese	
  is	
  difficult	
  to	
  handle.	
  It	
  took	
  us	
  a	
  long	
  +me	
  to	
  understand	
  this	
  
•    Users	
  need	
  to	
  test	
  the	
  product	
  in	
  order	
  to	
  maximize	
  learning	
  
•    We	
  need	
  to	
  assume	
  tthat	
  users	
  are	
  ttechnically	
  lliterate	
  
                                ssume	
   hat	
  users	
  are	
   echnically	
  i illiterate	
  
•    Simplicity	
  is	
  everything	
  from	
  the	
  user’s	
  perspec+ve	
  
•    Users	
  who	
  like	
  our	
  idea	
  are	
  not	
  the	
  same	
  as	
  early	
  adopters	
  /	
  promoters	
  
•    Need	
  to	
  balance	
  tech	
  planning	
  and	
  implementa+on	
  
•    Difficult	
  learning	
  curve	
  to	
  master	
  technologies	
  like	
  EC2	
  and	
  Apache	
  
•    Blackberry	
  is	
  not	
  developer-­‐friendly	
  and	
  it	
  spreads	
  to	
  the	
  server	
  
•    Gelng	
  user	
  feedback	
  is	
  a	
  lot	
  harder	
  than	
  we	
  originally	
  thought	
  
•    Difficult	
  to	
  approach	
  customers	
  large	
  and	
  small	
  the	
  second	
  +me	
  around	
  
•    From	
  mindsets	
  to	
  trends	
  to	
  technical	
  literacy,	
  the	
  tech	
  landscape	
  is	
  different	
  in	
  parts	
  of	
  the	
  world.	
  
•    We	
  cannot	
  spend	
  too	
  much	
  +me	
  thinking	
  off	
  /	
  wri+ng	
  an	
  elegant	
  solu+on,	
  but	
  you	
  also	
  cannot	
  
     write	
  garbage	
  
•    Code	
  organiza+on	
  really	
  starts	
  to	
  become	
  more	
  and	
  more	
  important	
  as	
  you	
  LOC	
  grows.	
  By	
  5,000	
  
     LOC	
  it	
  will	
  be	
  crucial	
  to	
  have	
  a	
  well	
  organized	
  code	
  base.	
  
•    User	
  mindsets	
  and	
  ttechnological	
  environment	
  ddiffer	
  remendously	
  from	
  mmarket	
  to	
  market	
  
                  indsets	
  and	
   echnological	
  environment	
   iffer	
  t tremendously	
  from	
   arket	
  to	
  market	
  
Epilogue:	
  
•  Is	
  this	
  a	
  viable	
  business?	
  
     –  Poten+al	
  to	
  solve	
  a	
  hair-­‐on-­‐fire	
  problem	
  for	
  a	
  huge	
  and	
  growing	
  market	
  
     –  Small	
  capital	
  investment	
  needed	
  to	
  validate	
  business	
  model	
  
     –  High	
  ROI	
  
•  Will	
  we	
  pursue	
  it	
  aqer	
  the	
  class?	
  

      –  YES!	
  




                                    “You gotta be in front of the wave to catch it”
Business	
  Canvas	
  Change	
  Progress	
  	
  
 1	
  
Business	
  Canvas	
  Change	
  Progress	
  	
  



 2	
  
Business	
  Canvas	
  Change	
  Progress	
  	
  




 3	
  
Business	
  Canvas	
  Change	
  Progress	
  	
  




 4	
  
Business	
  Canvas	
  Change	
  Progress	
  	
  




 5	
  
Business	
  Canvas	
  Change	
  Progress	
  	
  




 6	
  
Business	
  Canvas	
  Change	
  Progress	
  	
  




 7	
  
Business	
  Canvas	
  Change	
  Progress	
  	
  

 FINAL
THANK YOU!
Appendix:	
  Key	
  Assump$ons	
  
 Growth stages                             Early                 Mid                    Late                      Plateau
 Market penetration rate                   0.0%                  3.0%                  10.0%                       15.0%
 Churn rate                                50%                   50%                    20%                         10%
 Virality coefficient                      0.75                  0.60                   0.20                        0.10
 Promotion % increase                      10%                    3%                     2%                   Population growth
 Employees per city                         5                     10                     20                           30

 Rent per city                             1,000                 2,000                 5,000                       10,000


 Revenues	
                                                              Costs	
  
 Ad revenues start when users per city                                   Monthly salary per employee	
             $1000	
  
 exceed	
                                          10,000 	
             Setup costs per city	
                   $100,000 	
  
 Views per month per active user	
                 67.75	
               Technology costs per 1000 us
 Advertising eCPM	
                                 1.00	
               ers	
                                       $20 	
  
                                                                         Fixed promotion costs per city	
          $10,000 	
  
 Premium revenues start when users pe                                    Annual promotion costs per a
 r city exceed	
                                200,000 	
               ctive user	
                                 $1 	
  
 Premium percentage of regular users	
           17%	
                   Tax rate	
                                  25%	
  
 Premium pevenue per user per month	
            1.00	
  
Appendix:	
  Markets	
  
  Rank                                                                                 Land area	
          Density	
       GDP	
          GDP	
       Mobile phones	
       Market	
  
 (Global                    City / Urban area	
         Country	
     Population	
  
 Density)	
                                                                            (in sqKm)           (per sqKm)     per capita    growth rate      per capita            size
      1	
       Mumbai	
                            India	
           14,350,000	
               484	
       29,650	
       3,400	
       8.30%	
          63.22%	
        9,072,070	
  
      2	
       Kolkata	
                           India	
           12,700,000	
               531	
       23,900	
       3,400	
       8.30%	
          63.22%	
        8,028,940	
  
      4	
       Lagos	
                             Nigeria	
         13,400,000	
               738	
       18,150	
       2,400	
       6.80%	
          50.30%	
        6,740,200	
  
      5	
       Shenzhen	
                          China	
           8,000,000	
                466	
       17,150	
       7,400	
       10.10%	
         62.80%	
        5,024,000	
  

      6	
       Seoul/Incheon	
                     South Korea	
     17,500,000	
             1,049	
       16,700	
      30,200	
       6.10%	
          97.20%	
        17,010,000	
  

      7	
       Taipei	
                            Taiwan	
          5,700,000	
                376	
       15,200	
      35,100	
       8.30%	
         100.00%	
        5,700,000	
  
     10	
       Shanghai	
                          China	
           10,000,000	
               746	
       13,400	
       7,400	
       10.10%	
         62.80%	
        6,280,000	
  
     11	
       Lima	
                              Peru	
            7,000,000	
                596	
       11,750	
       9,200	
       7.80%	
          95.50%	
        6,685,000	
  
     12	
       Beijing	
                           China	
           8,614,000	
                748	
       11,500	
       7,400	
       10.10%	
         62.80%	
        5,409,592	
  
     13	
       Delhi	
                             India	
           14,300,000	
             1,295	
       11,050	
       3,400	
       8.30%	
          63.22%	
        9,040,460	
  
     15	
       Manila	
                            Philippines	
     14,750,000	
             1,399	
       10,550	
       3,500	
       6.70%	
          73.60%	
        10,856,000	
  
     17	
       Jakarta	
                           Indonesia	
       14,250,000	
             1,360	
       10,500	
       4,300	
       6.00%	
          73.10%	
        10,416,750	
  
     21	
       Cairo	
                             Egypt	
           12,200,000	
              1295	
       9,400	
        6,200	
       5.30%	
          76.80%	
        9,369,600	
  
     25	
       Sao Paulo	
                         Brazil	
          17,700,000	
              1968	
       9,000	
       10,900	
       7.50%	
         100.00%	
        17,700,000	
  
     27	
       Mexico City	
                       Mexico	
          17,400,000	
              2072	
       8,400	
       13,800	
       5.00%	
          79.80%	
        13,885,200	
  
     28	
       Santiago	
                          Chile	
           5,425,000	
                648	
       8,400	
       15,500	
       5.30%	
         100.00%	
        5,425,000	
  
     29	
       Singapore	
                         Singapore	
       4,000,000	
                479	
       8,350	
       62,200	
       14.60%	
        100.00%	
        4,000,000	
  
     32	
       Istanbul	
                          Turkey	
          9,000,000	
               1166	
       7,700	
       12,300	
       7.30%	
          92.20%	
        8,298,000	
  
     35	
       Rio de Janeiro	
                    Brazil	
          10,800,000	
              1580	
       6,850	
       10,900	
       7.50%	
         100.00%	
        10,800,000	
  
     37	
       Hong Kong	
                         Hong Kong	
       7,100,000	
               1100	
       6,455	
       45,600	
       5.70%	
         100.00%	
        7,100,000	
  
     38	
       Bangkok	
                           Thailand	
        6,500,000	
               1010	
       6,450	
        8,700	
       7.60%	
          81.00%	
        5,265,000	
  
     47	
       Buenos Aires	
                      Argentina	
       11,200,000	
              2266	
       4,950	
       15,000	
       7.80%	
         100.00%	
        11,200,000	
  
     52	
       Belo Horizonte	
                    Brazil	
          4,000,000	
                868	
       4,600	
       10,900	
       7.50%	
         100.00%	
        4,000,000	
  
     90	
       Kuala Lumpur	
                      Malaysia	
        4,400,000	
               1606	
       2,750	
       14,700	
       7.10%	
         100.00%	
        4,400,000	
  


                Total	
  mobile	
  users:	
  203.7	
  million	
  
Appendix:	
  Base	
  Case	
  Income	
  Statement	
  
Year	
                         0	
                       1	
                  2	
                    3	
                  4	
                   5	
                  6	
                7	
                    8	
                   9	
                    10	
  

Active users	
            200 	
            7,329 	
                 268,559 	
         1,535,297 	
           2,980,314 	
       6,056,792 	
   13,783,296 	
   21,013,877 	
                    33,175,710 	
         36,705,798 	
           39,698,300 	
  
% of market	
            0.0%	
                  0.1%	
                 1.9%	
                  3.2%	
               2.0%	
               4.0%	
                5.1%	
             7.7%	
                12.1%	
               13.3%	
                 14.2%	
  
                                                                       45,65
Premium users	
              - 	
                  - 	
   5 	
                            252,455 	
             503,865 	
         927,475 	
            2,332,870 	
       3,572,359 	
          5,639,871 	
          6,239,986 	
            6,748,711 	
  

Basic users	
             200 	
            7,329 	
                 222,904 	
         1,282,842 	
           2,476,449 	
       5,129,317 	
   11,450,427 	
   17,441,518 	
                    27,535,839 	
         30,465,812 	
           32,949,589 	
  


Revenues	
  

Advertising	
                                      - 	
                64,502 	
          614,266 	
           1,445,797 	
       3,180,516 	
            6,551,758 	
   12,404,549 	
            18,487,439 	
         23,697,673 	
           25,988,931 	
  

Premium	
                                          - 	
                45,655 	
        1,846,731 	
           3,819,142 	
       9,198,477 	
   19,113,580 	
   36,267,426 	
                    55,890,537 	
         71,641,922 	
           78,568,768 	
  
Total Revenues	
                                   - 	
              110,157 	
         2,460,997 	
           5,264,939 	
   12,378,993 	
             25,665,338 	
   48,671,976 	
             74,377,976 	
         95,339,594 	
         104,557,698 	
  


Costs	
  
Market Entry Costs	
                    100,000 	
                             - 	
       500,000 	
             900,000 	
                  - 	
         1,000,000 	
                   - 	
                  - 	
                  - 	
                    - 	
  

Employee Salaries	
                        60,971 	
                   62,800 	
          399,824 	
             756,995 	
       1,809,328 	
            3,008,931 	
       4,821,172 	
          6,152,098 	
          8,395,482 	
            9,511,708 	
  

Technology	
                                    550 	
                 20,152 	
          220,947 	
             503,758 	
       1,127,276 	
            2,320,268 	
       4,388,843 	
          6,575,357 	
          8,428,461 	
            9,243,384 	
  

Rent	
                                     12,000 	
                   12,000 	
            75,000 	
            148,000 	
         348,000 	
              582,000 	
         959,000 	
          1,210,000 	
          1,760,000 	
            2,085,000 	
  
Promotion	
                             121,697 	
                   182,198 	
         1,435,261 	
           2,879,322 	
       6,240,609 	
   11,424,743 	
   20,684,296 	
                    29,383,836 	
         37,824,415 	
           41,264,727 	
  
Total Costs	
                           295,218 	
                   277,150 	
         2,631,032 	
           5,188,075 	
       9,525,213 	
   18,335,942 	
   30,853,311 	
                    43,321,292 	
         56,408,358 	
           62,104,819 	
  



Operating cashflow	
                   (295,218)	
                 (166,993)	
          (170,034)	
                76,865 	
      2,853,780 	
            7,329,396 	
   17,818,665 	
            31,056,685 	
         38,931,236 	
           42,452,880 	
  

Taxes paid	
                                       - 	
                 5,626 	
          290,449 	
             514,985 	
       1,176,461 	
            2,465,737 	
       4,946,514 	
          7,764,171 	
          9,732,809 	
           10,613,220 	
  

Net income	
                           (295,218)	
                 (172,619)	
          (460,483)	
            (438,120)	
        1,677,319 	
            4,863,659 	
   12,872,151 	
            23,292,514 	
         29,198,427 	
           31,839,660 	
  

Retained earnings	
                    (295,218)	
                 (467,836)	
          (928,320)	
          (1,366,440)	
          310,880 	
            5,174,539 	
   18,046,689 	
            41,339,203 	
         70,537,630 	
         102,377,290 	
  
Appendix:	
  Blink	
  Customer	
  Archetypes	
  
Commuters in large developing market cities:

-  Working professionals with cars

-  Working professionals using public transport

-  Students

-  Stay-at-home partners (Tai-Tai’s)

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Blinktraffic E245 final presentation

  • 1. Final Project Report Blink Traffic: Stevia Angesty Stanford University Ian Christopher ENGR 245: The Lean Michael Feng Launchpad Richard Kidarsa Winter 2011
  • 2. Ini$al  Product  Idea   Mobile  applica+on  providing  crowd-­‐ Shanghai Lahore sourced  real  +me  traffic  map  in   developing  countries   Bangkok Jakarta
  • 3. Meet the Team Stevia Angesty Michael Feng Richard Kidarsa Ian Christopher Background: Investment Banking and Private Engineering, Business Background: Computer Science Engineering Equity in Asia Expertise: Indonesian connections, logistics Expertise: Programming Indonesian connections Programming, experience Expertise: Finance, Marketing Role: Technical framework, server-side Client application development, website Role: Financials, Strategy Liaising with customers and partners, development market research
  • 5. What  we  did  (part  1)   •  Interviewed  market  leader  in  traffic  informa+on   services   •  Interviewed  8  corporate  customers  in  Indonesia  
  • 6. Inrix  Interview   Market  Leader  in  Traffic   Data  Services   Customer  Segments:   Public   Sector   Media   Automo$ve   Mobile  
  • 7. Pass/Fail     Criteria   •  Companies  in  Indonesia  do  not  have  the  technology  to  detect  traffic     •  Large  companies  in  Indonesia  distribute  at  least  200  corporate  Blackberries  to   their  employees   •  At  least  2  companies  have  strong  interest  in  buying  traffic  applica+on  
  • 8. Customer  Segment:  Corporate   Interviewed  8  poten$al  business  sector  customers:   “We  have  our  own  proprietary  traffic  system” “Traffic  is  driver’s  responsibility.  We  will  evaluate  the  fuel  usage” “We  only  give  out  limited  number  of  corporate  Blackberries  to  employees” “Tardiness  is  tolerable.  We  use  motorcycles  if  it  is  too  late” cTc
  • 9. Customer  Segment:  Corporate   The Dispatchers: Customer   Sounds cool. It’d be Archetypes   more efficient than relying on drivers. Users
  • 10. Customer  Segment:  Corporate   Customer   The Managers: Archetypes   We’d love to have the app if it works Users Influencers and Recommenders
  • 11. Customer  Segment:  Corporate   Influencers and Customer   Recommenders The Procurement Dept: Our drivers know the Archetypes   the traffic better than you! Users Economic Buyers, Decision Makers
  • 12. Customer  Segment:  Corporate   Influencers and Archetypes   Recommenders The Drivers: Are you questioning our expertise? International, local, large, and small companies Users Saboteurs Economic Buyers, Decision Makers
  • 13. Pass/Fail     Criteria   FAIL •  Companies  in  Indonesia  do  not  have  the  technology  to  detect  traffic     •  Most  don’t  but  large,  sophis+cated  ones  do   •  Large  companies  in  Indonesia  distribute  at  least  200  corporate  BlackBerries  to   their  employees   •  Largest  mul+na+onal  bank  gives  out  approximately  10   •  At  least  2  companies  have  strong  interest  in  buying  traffic  applica+on   •  0  out  of  the  8  companies  we  surveyed  
  • 14. Customer  Segment:  Corporate   Corporates are not our initial target market
  • 16. What  we  did  (part  2)   •  Interviewed  market  leader  in  consumer  traffic   applica+ons  (Waze)   •  Interviewed  2  Indonesian  web  startups   •  Surveyed  98  Indonesian  commuters  
  • 17. Waze  Interview   100% crowdsourced traffic targeting consumers 2,500,000 2,000,000 Recently raised $25 Users 1,500,000 1,000,000 million Series B 500,000 round 0 2009 (est) 2010 2011 •  How did they grow? Social and gaming features •  What markets are they focusing on? North America •  What are the key challenges? Data costs, cultural differences •  How do they make money? They don’t…yet
  • 18. Jagoan  Interview   *  Indonesian  Social  App   *  Partnered  with  Retail   Companies   User  friendly   interface  while   SLOW   User     looks  savvy   connec$on   Loyalty  
  • 19. Disdus  Interview   *  Indonesian  Groupon   *  Poten$al  partnership         for  adver$sing   Troublesome   Hard  to   payment   mone$ze  before   method   cri$cal  mass  
  • 20. B2C  Customer  Feedback   98   2½h   1h   $8   web  and  phone   spent  in  heavy   surveys  in   spent  in  car  per   traffic  (<6mph)   on  gasoline  per   Indonesia     day   per  day   day  
  • 21. B2C  Customer  Feedback   20%  of  reduc,on  in  heavy  traffic  would  save  a  person1:   Blink  Subscrip$on:   50h   $42   saved  per  year     gasoline  costs  per   year2   $1 /month 1.  Assumes  5  working  days  per  week  and  50  workweeks  per  year   2.  Assumes  gasoline  usage  is  30%  of  normal  usage  during  heavy  traffic  
  • 22. B2C  Customer  Feedback   120   52%   Plenty  of  $me  to  use   mobile  devices  while   web  and  phone   surveys  in   USE  DRIVERS     commu$ng   Indonesia     46%   1.  Mo$vated  by  3-­‐person   HOV  lanes   2.  Alterna$ve:    pay  “carpool   CARPOOL   jockeys”  $2.50  per  trip  
  • 23. B2C  Customer  feedback1   Blackberry  leads  usage  but  iPhone/iPads  important   Conclusion: Focus on Blackberry first and iPhone/Pad second What mobile device do you use in the car? 45% 40% 40% 35% 30% 28% 25% 20% 20% 15% 10% 8% 4% 5% 0% Blackberry iPhone iPad other None smartphones 1. Data obtained from web and phone surveys of 120 potential customers
  • 24. B2C  Customer  feedback1   What do you do with your Never   Rarely   Sometimes   Often   Always   >= Sometimes   smartphones in the car?   Work   39   17   33   6   17   50%   Gather traffic information   66   28   17   6   0   20%   Read news   39   22   22   28   0   46%   Browse internet   28   17   11   33   28   62%   Community and game mechanics are Socialize with friends   Play games   11   33   6   17   28   39   28   11   44   17   86%   58%   critical to driving usage and virality How often would you use these Never   Rarely   Sometimes   Often   Always   >= Sometimes   features of our application?   Report incidents   22   28   22   33   17   60%   Join a chat   33   28   44   17   0   50%   Play mini-games   44   28   28   22   0   41%   Ask and respond to questions   39   39   28   17   0   37%   Find your friends and followers   22   39   22   28   6   48%   Earn points for driving more   33   39   22   22   11   44%   1. Data obtained from web and phone surveys of 120 potential customers
  • 26. What  we  did  (part  3)   •  Assessed  market  size   •  Tested  demand  crea+on  via  website  
  • 27. How  Big  is  the  Market?   1.  Located  outside  the  U.S.,  Western  Europe,  and  Australia   2.  Mobile  penetra+on  rate  *  popula+on  >=  4  million   3.  Popula+on  density  >=  2500  per  sq  km   4.  GDP  growth  rate  >=  5%   China: Beijing, Shanghai, Shenzhen Total cities: 24 Mediterranean: Istanbul North Asia ex-China: Taipei, Hong Kong, Total mobile users: 203.7 million Seoul Latin America: Mexico City Africa: Cairo, Lagos South Asia: SE Asia: Mumbai, Delhi, Jakarta, Surabaya, South America: Kolkata Bangkok, Singapore, Rio de Janeiro, Sao Kuala Lumpur, Manila Paulo, Bella Horizonte, Lima, Santiago. Buenos Aires
  • 28. Market  Growth  Plan   Rest of World Rest of Asia • Brazil (Rio de • India (Mumbai, Janeiro, Belo Kolkata, Delhi) Horizonte • China (Bejing, • Buenos Aires Southeast Shanghai, • Cairo Asia: Shenzhen) • Istanbul • Surabaya • Hong Kong • Lagos • Bangkok • Taipei • Lima Jakarta • Singapore • Seoul • Mexico City • Bangkok • Santiago • Kuala Lumpur • Manila Market 1 2 3 4 Cumulative number 1 6 15 25 of cities Cumulative mobile 10.4 36.9 109.6 203.7 users (millions) Detailed income statement and assumptions in Appendix
  • 29. Success  Depends  on  Virality  >  Churn   Ra+o  of  early  stage  virality  rate  to  churn  rate  =  2.00x  
  • 30. Success  Depends  on  Virality  >  Churn   Ra+o  of  early  stage  virality  rate  to  churn  rate  =  1.50x  
  • 31. Success  Depends  on  Virality  >  Churn   Ra+o  of  early  stage  virality  rate  to  churn  rate  =  1.0x  
  • 32. Demand  crea$on  via  website   1   2   3   “Not  a  landing  page”   Doesn’t  show  the   No  Indonesian  version   product  
  • 33. Demand  crea$on  via  website  -­‐  results   Clicks CTR 100 74 2.00% 1.56% 68 1.25% 50 22 1.00% 0.59% 0 0.00% 1 2 3 1 2 3 People need to use the product CPC us to maximize learning click for Conversions per 1.5 1.34 6.00% 4.05% 1 0.62 4.00% 2.94% 0.54 0.5 2.00% 0.00% 0 0.00% 1 2 3 1 2 3
  • 35. What  we  did  (part  4)   •  Developed  server  backbone  integrated  with  OSM   and  Hadoop   •  Built  a  working  Blackberry  applica+on   •  Iterated  based  on  user  feedback   •  Talked  to  poten+al  partners  
  • 36. Server  Backbone  with  OSM  and  Hadoop   OSM  DATA   BLINK  DATA   MAP  MANAGER   TRAFFIC   USER/EVENT   DATA   MANAGER   Front  End   AGGREGATION   Client  
  • 37. Blackberry  applica$on  tes$ng   •  Iterate  through  different  versions   Ver1 Ver2 Ver3
  • 38. First  release  issues   Device  cannot   Different   connect  to   provider  semng   internet   for  Indonesia   Downloading   Fix  website,   problems   Provide   instruc$ons   People  don’t   Pop  up  window   want  to  leave   to  force  people   feedback   to  give  feedback  
  • 39. Second  release  issues   Bad  GPS   Use  data-­‐assisted   signal   GPS   Show   Users  dislike   instruc$ons  and   Pop-­‐ups   pop-­‐up  once   Users  have  old   Support  older  OS   Blackberry  OS  
  • 40. Second  release  feedback  result   User  wants  to   So  far  50   Want  traffic  data   see  their  friends     downloads  
  • 41. Third  release   Implemented   User  can  locate   20  downloads   chamng     others  on  map   since  release  3   days  ago   5  new  users   introduced  via   sharing   Feedback on 3rd release: Privacy   Baoery  life   Implement   Adjust  server   privacy  toggle   ping  rate  
  • 42. Key  Partners   AGM Market  share:  44%  mobile   Interested  in  partnering  if   phone  service  &  18%   Disdus  will  adver+se  Blink   Blink  can  provide  them  free   Large companies are hard to negotiate. Blink will internet  mobile  phone   service   traffic  informa+on   in  their  website   focus more on partnering with other Startups Currently  looking  for   mobile  applica+on  to   AGM  owns  trucking  fleet   Blink  will  adver+se  Disdus   partner  to  increase  internet   (>100  trips/week)  in  Java   in  the  Blackberry   service  usage.  Telkomsel   region  which  can  help  Blink   applica+on   wants  a  large  number  of   in  genera+ng  traffic  data   users  before  partnering  
  • 44. Epilogue:  What  we  learned   •  MVP  has  to  iinclude  virality,  not  just  traffic   to   nclude  virality,  not  just  traffic   •  Legal-­‐ese  is  difficult  to  handle.  It  took  us  a  long  +me  to  understand  this   •  Users  need  to  test  the  product  in  order  to  maximize  learning   •  We  need  to  assume  tthat  users  are  ttechnically  lliterate   ssume   hat  users  are   echnically  i illiterate   •  Simplicity  is  everything  from  the  user’s  perspec+ve   •  Users  who  like  our  idea  are  not  the  same  as  early  adopters  /  promoters   •  Need  to  balance  tech  planning  and  implementa+on   •  Difficult  learning  curve  to  master  technologies  like  EC2  and  Apache   •  Blackberry  is  not  developer-­‐friendly  and  it  spreads  to  the  server   •  Gelng  user  feedback  is  a  lot  harder  than  we  originally  thought   •  Difficult  to  approach  customers  large  and  small  the  second  +me  around   •  From  mindsets  to  trends  to  technical  literacy,  the  tech  landscape  is  different  in  parts  of  the  world.   •  We  cannot  spend  too  much  +me  thinking  off  /  wri+ng  an  elegant  solu+on,  but  you  also  cannot   write  garbage   •  Code  organiza+on  really  starts  to  become  more  and  more  important  as  you  LOC  grows.  By  5,000   LOC  it  will  be  crucial  to  have  a  well  organized  code  base.   •  User  mindsets  and  ttechnological  environment  ddiffer  remendously  from  mmarket  to  market   indsets  and   echnological  environment   iffer  t tremendously  from   arket  to  market  
  • 45. Epilogue:   •  Is  this  a  viable  business?   –  Poten+al  to  solve  a  hair-­‐on-­‐fire  problem  for  a  huge  and  growing  market   –  Small  capital  investment  needed  to  validate  business  model   –  High  ROI   •  Will  we  pursue  it  aqer  the  class?   –  YES!   “You gotta be in front of the wave to catch it”
  • 46. Business  Canvas  Change  Progress     1  
  • 47. Business  Canvas  Change  Progress     2  
  • 48. Business  Canvas  Change  Progress     3  
  • 49. Business  Canvas  Change  Progress     4  
  • 50. Business  Canvas  Change  Progress     5  
  • 51. Business  Canvas  Change  Progress     6  
  • 52. Business  Canvas  Change  Progress     7  
  • 53. Business  Canvas  Change  Progress     FINAL
  • 55. Appendix:  Key  Assump$ons   Growth stages Early Mid Late Plateau Market penetration rate 0.0% 3.0% 10.0% 15.0% Churn rate 50% 50% 20% 10% Virality coefficient 0.75 0.60 0.20 0.10 Promotion % increase 10% 3% 2% Population growth Employees per city 5 10 20 30 Rent per city 1,000 2,000 5,000 10,000 Revenues   Costs   Ad revenues start when users per city Monthly salary per employee   $1000   exceed   10,000   Setup costs per city   $100,000   Views per month per active user   67.75   Technology costs per 1000 us Advertising eCPM   1.00   ers   $20   Fixed promotion costs per city   $10,000   Premium revenues start when users pe Annual promotion costs per a r city exceed   200,000   ctive user   $1   Premium percentage of regular users   17%   Tax rate   25%   Premium pevenue per user per month   1.00  
  • 56. Appendix:  Markets   Rank Land area   Density   GDP   GDP   Mobile phones   Market   (Global City / Urban area   Country   Population   Density)   (in sqKm) (per sqKm) per capita growth rate per capita size 1   Mumbai   India   14,350,000   484   29,650   3,400   8.30%   63.22%   9,072,070   2   Kolkata   India   12,700,000   531   23,900   3,400   8.30%   63.22%   8,028,940   4   Lagos   Nigeria   13,400,000   738   18,150   2,400   6.80%   50.30%   6,740,200   5   Shenzhen   China   8,000,000   466   17,150   7,400   10.10%   62.80%   5,024,000   6   Seoul/Incheon   South Korea   17,500,000   1,049   16,700   30,200   6.10%   97.20%   17,010,000   7   Taipei   Taiwan   5,700,000   376   15,200   35,100   8.30%   100.00%   5,700,000   10   Shanghai   China   10,000,000   746   13,400   7,400   10.10%   62.80%   6,280,000   11   Lima   Peru   7,000,000   596   11,750   9,200   7.80%   95.50%   6,685,000   12   Beijing   China   8,614,000   748   11,500   7,400   10.10%   62.80%   5,409,592   13   Delhi   India   14,300,000   1,295   11,050   3,400   8.30%   63.22%   9,040,460   15   Manila   Philippines   14,750,000   1,399   10,550   3,500   6.70%   73.60%   10,856,000   17   Jakarta   Indonesia   14,250,000   1,360   10,500   4,300   6.00%   73.10%   10,416,750   21   Cairo   Egypt   12,200,000   1295   9,400   6,200   5.30%   76.80%   9,369,600   25   Sao Paulo   Brazil   17,700,000   1968   9,000   10,900   7.50%   100.00%   17,700,000   27   Mexico City   Mexico   17,400,000   2072   8,400   13,800   5.00%   79.80%   13,885,200   28   Santiago   Chile   5,425,000   648   8,400   15,500   5.30%   100.00%   5,425,000   29   Singapore   Singapore   4,000,000   479   8,350   62,200   14.60%   100.00%   4,000,000   32   Istanbul   Turkey   9,000,000   1166   7,700   12,300   7.30%   92.20%   8,298,000   35   Rio de Janeiro   Brazil   10,800,000   1580   6,850   10,900   7.50%   100.00%   10,800,000   37   Hong Kong   Hong Kong   7,100,000   1100   6,455   45,600   5.70%   100.00%   7,100,000   38   Bangkok   Thailand   6,500,000   1010   6,450   8,700   7.60%   81.00%   5,265,000   47   Buenos Aires   Argentina   11,200,000   2266   4,950   15,000   7.80%   100.00%   11,200,000   52   Belo Horizonte   Brazil   4,000,000   868   4,600   10,900   7.50%   100.00%   4,000,000   90   Kuala Lumpur   Malaysia   4,400,000   1606   2,750   14,700   7.10%   100.00%   4,400,000   Total  mobile  users:  203.7  million  
  • 57. Appendix:  Base  Case  Income  Statement   Year   0   1   2   3   4   5   6   7   8   9   10   Active users   200   7,329   268,559   1,535,297   2,980,314   6,056,792   13,783,296   21,013,877   33,175,710   36,705,798   39,698,300   % of market   0.0%   0.1%   1.9%   3.2%   2.0%   4.0%   5.1%   7.7%   12.1%   13.3%   14.2%   45,65 Premium users   -   -   5   252,455   503,865   927,475   2,332,870   3,572,359   5,639,871   6,239,986   6,748,711   Basic users   200   7,329   222,904   1,282,842   2,476,449   5,129,317   11,450,427   17,441,518   27,535,839   30,465,812   32,949,589   Revenues   Advertising   -   64,502   614,266   1,445,797   3,180,516   6,551,758   12,404,549   18,487,439   23,697,673   25,988,931   Premium   -   45,655   1,846,731   3,819,142   9,198,477   19,113,580   36,267,426   55,890,537   71,641,922   78,568,768   Total Revenues   -   110,157   2,460,997   5,264,939   12,378,993   25,665,338   48,671,976   74,377,976   95,339,594   104,557,698   Costs   Market Entry Costs   100,000   -   500,000   900,000   -   1,000,000   -   -   -   -   Employee Salaries   60,971   62,800   399,824   756,995   1,809,328   3,008,931   4,821,172   6,152,098   8,395,482   9,511,708   Technology   550   20,152   220,947   503,758   1,127,276   2,320,268   4,388,843   6,575,357   8,428,461   9,243,384   Rent   12,000   12,000   75,000   148,000   348,000   582,000   959,000   1,210,000   1,760,000   2,085,000   Promotion   121,697   182,198   1,435,261   2,879,322   6,240,609   11,424,743   20,684,296   29,383,836   37,824,415   41,264,727   Total Costs   295,218   277,150   2,631,032   5,188,075   9,525,213   18,335,942   30,853,311   43,321,292   56,408,358   62,104,819   Operating cashflow   (295,218)   (166,993)   (170,034)   76,865   2,853,780   7,329,396   17,818,665   31,056,685   38,931,236   42,452,880   Taxes paid   -   5,626   290,449   514,985   1,176,461   2,465,737   4,946,514   7,764,171   9,732,809   10,613,220   Net income   (295,218)   (172,619)   (460,483)   (438,120)   1,677,319   4,863,659   12,872,151   23,292,514   29,198,427   31,839,660   Retained earnings   (295,218)   (467,836)   (928,320)   (1,366,440)   310,880   5,174,539   18,046,689   41,339,203   70,537,630   102,377,290  
  • 58. Appendix:  Blink  Customer  Archetypes   Commuters in large developing market cities: -  Working professionals with cars -  Working professionals using public transport -  Students -  Stay-at-home partners (Tai-Tai’s)