1. Advanced Entrepreneurship – Lean LaunchPad
2011

2. THE TEAM
 PhD Engineering
 Technology Specialist
 Previous Entrepreneur
 Alternative Prospect
 Food & Beverage Domain Experience
 Previous Entrepreneur
 Manufacturing Experience
 CPG Marketing Background
Jon Sebastiani
Kamil Agi

3. An On Trend Snack
A Category Disruptor Brand
 Premium Quality
 All-Natural
 50%+ Less Salt/Fat
 Foodie Flavors
 Softer/Moist Texture
Contemporary
Branding
Better Margins
( J E R K Y 2 . 0
)
TEAM KRAVE

4. MARKET SIZE
 Giant Markets
> Meat: $160B / Snacks: $70B
> Meat Snacks: $4B
 Varying Growth Rates
> Meat: + 5%
> Snacks: + 15%
> Jerky: + 5%
 Mega Consumer Trends Converging
> Healthy, More Flavorful, Higher Quality
 Snacks Driven by Innovation / News
 Meat Snacks / Jerky Generally Sleepy
> Limited Innovation
> “Gut Stuffer” Image
 Change Underway Driven by New Entrants
> All-Natural
> 10% Growth Latest 52 Weeks Nielsen F/D/M
2009 US Snack Food
Americans Love to Eat Meat and Snack
Retail Sales
Source: US Package Facts
Sweet
$35B
Salty
$30B
Meat
$4B

5. Key Partners
-Transactions: Paypal, Visa, Mastercard
-Channel to Consumer: HSN, Safeway,
Flash sale sites (Woot, Joss & Main, Fab)
-Public Relations Firm - Glodow Nead
Key Activities
-New distribution channels
-In-store demos
-Formal customer support
service
Value Prop
-Unique package
-Quality of meat
-Health benefits of jerky
-Snack taste
Cust. Relations
-Branding
-Customer education
-In-store demo
-Frequent buyer program
Cust. Segments
- Athletes
- Gourmet food enthusiasts
- Purposeful eaters
- Vegetarian Jerky
- Female segment
Key Resources
- Jon Sebastiani
- Direct to store delivery
- National distribution
Channels
-Direct to consumer – web
-Vending machines
-Specialty stores (Cost Plus)
-Supermarkets
-Krave Jerky Stores
KRAVE CANVAS SUMMARY WEEK 1
Cost Structure
-Slotting Fees
-Temporary price reduction,
Scan based discount
-In-store demo
-$19m target market
Revenue Stream
-$5.95

6. Key Partners
-Transactions: Paypal, Visa, Mastercard
-Channel to Consumer: HSN, Safeway,
Flash sale sites (Woot, Joss & Main, Fab)
-Public Relations Firm - Glodow Nead
Key Activities
-New distribution channels
-In-store demos
-Formal customer support
service
Value Prop
-Unique package
-Quality of meat
-Health benefits of jerky
-Snack taste
Cust. Relations
-Branding
-Customer education
-In-store demo
-Frequent buyer program
Cust. Segments
- Athletes
- Gourmet food enthusiasts
- Purposeful eaters
- Vegetarian Jerky
- Female segment
Key Resources
- Jon Sebastiani
- Direct to store delivery
- National distribution
Channels
-Direct to consumer – web
-Vending machines
-Specialty stores (Cost Plus)
-Supermarkets (✔)
-Krave Jerky Stores
KRAVE CANVAS SUMMARY WEEK 2
Cost Structure
-Slotting Fees
-Temporary price reduction,
Scan based discount
-In-store demo
-$19m target market
Revenue Stream
-$5.95

7. Key Partners
-Transactions: Paypal, Visa, Mastercard
-Channel to Consumer: HSN, Safeway,
Flash sale sites (Woot, Joss & Main, Fab)
-Public Relations Firm - Glodow Nead
Key Activities
-New distribution channels
-In-store demos
-Formal customer support
service
Value Prop
-Unique package
-Quality of meat
-Health benefits of jerky
-Snack taste
Cust. Relations
-Branding
-Customer education
-In-store demo
-Frequent buyer program
Cust. Segments
- Athletes
- Gourmet food enthusiasts
- Purposeful eaters
- Vegetarian Jerky
- Female segment (✔)
Key Resources
- Jon Sebastiani
- Direct to store delivery
- National distribution
Channels
-Direct to consumer – web
-Vending machines
-Specialty stores (Cost Plus)
-Supermarkets (✔)
-Krave Jerky Stores
KRAVE CANVAS SUMMARY WEEK 3
Cost Structure
-Slotting Fees
-Temporary price reduction,
Scan based discount
-In-store demo
-$19m target market
Revenue Stream
-$5.95

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Click to edit Master title styleCHANNEL STRATEGY

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Click to edit Master title styleAND NOT
THE ART OF MARKET RE-SEGMENTATION

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Click to edit Master title styleWhat’s Next?
DEN Kiosk OAK Kiosk
Ferry Building Retail Concept

11. Key Partners
-Transactions: Paypal, Visa, Mastercard
-Channel to Consumer: HSN, Safeway,
Flash sale sites (Woot, Joss & Main, Fab)
-Public Relations Firm - Glodow Nead
Key Activities
-New distribution channels
-In-store demos
-Formal customer support
Service
- Social media leverage
Value Prop
-Unique package
-Quality of meat
-Health benefits of jerky
-Snack taste (✔)
Cust. Relations
-Branding
-Customer education
-In-store demo
-Frequent buyer program
Cust. Segments
- Athletes (✔)
- Gourmet food enthusiasts
- Purposeful eaters (✔)
- Vegetarian Jerky
- Female segment (✔)
Key Resources
- Jon Sebastiani
- Direct to store delivery
- National distribution
Channels
-Direct to consumer – web
-Vending machines
-Specialty stores (Cost Plus)
-Supermarkets (✔)
-Krave Jerky Stores
-Kiosks
KRAVE CANVAS SUMMARY WEEK 4
Cost Structure
-Slotting Fees
-Temporary price reduction,
Scan based discount
-In-store demo
-$19m target market
Revenue Stream
-$5.95

12. Key Partners
-Transactions: Paypal, Visa, Mastercard
-Channel to Consumer: HSN, Safeway,
Flash sale sites (Woot, Joss & Main, Fab) (✔)
-Public Relations Firm - Glodow Nead
Key Activities
-New distribution channels
-In-store demos
-Formal customer support
service
Value Prop
-Unique package
-Quality of meat
-Health benefits of jerky
-Snack taste (✔)
Cust. Relations
-Branding
-Customer education
-In-store demo
-Frequent buyer program
Cust. Segments
- Athletes (✔)
- Gourmet food enthusiasts
- Purposeful eaters (✔)
- Vegetarian Jerky
- Female segment (✔)
Key Resources
- Jon Sebastiani
- Direct to store delivery
- National distribution
Channels
-Direct to consumer – web
-Vending machines
-Specialty stores (Cost Plus)
-Supermarkets (✔)
-Krave Jerky Stores
-Airport kiosks
-South Beach diet
-Jerky store in Vegas
KRAVE CANVAS SUMMARY WEEK 5
Cost Structure
-Slotting Fees
-Temporary price reduction,
Scan based discount
-In-store demo
-$19m target market
Revenue Stream
-$5.95

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Click to edit Master title styleWhat we did, cont.
Who is our KRAVE Customer?
1. Jon and team tasted and surveyed 50 people.

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The Results
Who is our Customer

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Click to edit Master title styleThe Results

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Click to edit Master title styleValidation of Value Proposition
Does the customer agree with our Value Proposition?
Krave surveyed 100 jerky buyers who have tasted Krave Jerky
to test our value proposition hypothesis.

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Click to edit Master title styleWhat about our Value Proposition?

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Click to edit Master title styleKey Learning's & Takeaways
1. Most people surveyed are not regular jerky eaters – yet after tasting
Krave will consider becoming regular users. Therefore figuring out
how to get the product into the mouths of new customers is KEY.
2. Some/most people believe jerky is healthy - doesn't seem to be a
hot button.
3. Nutritional ingredients a key differentiator.
3. Taste and texture seem to be a driver of quality perception
and consumption.
4. Flavor is the main driver.
5. Focus channel roll-out to support these customer drivers.

19. WHY A DISRUPTION
The Opportunity +
Market Conditions
 Limited Market Segmentation
 Lethargic Competitors
 Favorable Consumer + Trade Dynamics
 Entrepreneurial Entrant with New
Approach and Fewer Constraints
 Clear / Meaningful Differentiation vs.
Mainstream Competitors
The Examples
Industry
Airlines Virgin America
Ice Cream Ben & Jerry’s
Beer Samuel Adams
Potato Chips Kettle / Terra Chips
Coffee Starbucks
Chocolate Scharffenberger
Water Vitamin Water
Cereal Kashi / Bear Naked
Energy Bar Cliff Bar
Meat Snacks / Jerky KRAVE
Convention
Buster Brand

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• Traditional – Conventional: Large Meat Packers
– Top 4 Brands = 85% Market Share
– Manufacturing vs. Marketing Orientation
• Jerky As A Waste Reducer – Mfg “Capacity Utilizer”
• Same Flavors, Form Factors, Pricing, Quality, Limited Innovation
KRAVE Advantages KRAVE Challenges
+ Flavors/Natural Ingredients/Low Sodium - Scale/Resources
+ Meat Cuts/Quality - Distribution Power
+ Traceability - Longevity/Heritage
+ Singular Focus/Small Guy Flexibility - Fighting Category “Gut Stuffer”
Image
COMPETITION

21. WHAT WE LEARNED
KRAVE vs. Competition
 Fitness Enthusiasts
 Healthy Snackers, Foodies
 Targeted to Men and Women
 All Natural Ingredients
 Gourmet / Premium / Modern Image
 US Sourced Meat
 Higher Quality Meat Cuts
 50% Less Salt and Fat
 Moist and Tender Texture
 Grocery and Specialty Channel Focus
 Manufacturers vs. Marketers
> Jerky = Waste Reducer / Capacity Filler
> All Similar Offerings – Compete on Price
 All Targeted to Men
 Artificial Ingredients
 “Gut-Stuffer” / Traditional Image
 South American Sourced Meat
 Unknown Quality of Meat Cut
 High Fat / Sodium Content
 Dry and Tough Texture
 Limited and Conventional Flavors

22. Key Partners
-Transactions: Paypal, Visa, Mastercard
-Channel to Consumer: HSN, Safeway,
Flash sale sites (Woot, Joss & Main, Fab) (✔)
-Public Relations Firm - Glodow Nead
-Manufacturing
Key Activities
-New distribution channels
-In-store demos
-Formal customer support
service
Value Prop
-Unique package
-Quality of meat
-Health benefits of jerky (✔)
-Snack taste (✔)
Cust. Relations
-Branding (✔)
-Customer education
-In-store demo
-Frequent buyer program
Cust. Segments
- Athletes (✔)
- Gourmet food enthusiasts
- Purposeful eaters (✔)
- Vegetarian Jerky
- Female segment (✔)
Key Resources
- Jon Sebastiani
- Direct to store delivery
- National distribution
Channels
-Direct to consumer – web
-Vending machines
-Specialty stores (Cost Plus) (✔)
-Supermarkets (✔)
-Krave Jerky Stores
-Airport kiosks (✔)
-South Beach diet
-Jerky store in Vegas
KRAVE CANVAS SUMMARY WEEK 8
Cost Structure
-Slotting Fees
-Temporary price reduction,
Scan based discount
-In-store demo
-$19m target market
Revenue Stream
-$5.95

23. Key Partners
-Transactions: Paypal, Visa, Mastercard
-Channel to Consumer: HSN, Safeway, KeHe
Flash sale sites (Woot, Joss & Main, Fab) (✔)
-Public Relations Firm - Glodow Nead (✔)
-Manufacturing (✔)
Key Activities
-New distribution channels (✔)
-In-store demos
-Formal customer support
Service
Social Media Leverage
Manufacturing
Vertical Horizontal Integration
Value Prop
-Unique package (✔)
-Quality of meat (✔)
-Health benefits of jerky (✔)
-Snack taste (✔)
Cust. Relations
-Branding (✔)
-Customer education
-In-store demo
-Frequent buyer program (✔)
Cust. Segments
- Athletes (✔)
- Gourmet food enthusiasts (✔)
- Purposeful eaters (✔)
- Vegetarian Jerky
- Female segment (✔)
Key Resources
- Jon Sebastiani
- Direct to store delivery
- National distribution
-National Media (AP, WSJ, etc.)
-Gross margins versus top line revenues
Channels
-Direct to consumer – web (✔)
-Vending machines
-Specialty stores (Cost Plus) (✔)
-Supermarkets (✔)
-Krave Jerky Stores
-Airport kiosks (✔)
-South Beach diet
-Jerky store in Vegas
KRAVE CANVAS SUMMARY WEEK 11
Cost Structure
-Slotting Fees
-Temporary price reduction,
Scan based discount
-In-store demo
-$19m target market
-Gross margin vs. Revenue
Revenue Stream
-$5.95(✔)
-KeHe/Tree of Life
-Direct Sales(✔)
-Flash sites(✔)
-QVC(✔)

24. Key Partners
-Transactions: Paypal, Visa, Mastercard
-Channel to Consumer: HSN, Safeway, KeHe
Flash sale sites (Woot, Joss & Main, Fab) (✔)
-Public Relations Firm - Glodow Nead (✔)
-Manufacturing (✔)
-Order Fulfillment (✔)
Key Activities
-New distribution channels (✔)
-In-store demos
-Formal customer support
Service
Social Media Leverage (✔)
Manufacturing
Vertical/Horizontal Integration(✔)
Value Prop
-Unique package (✔)
-Quality of meat (✔)
-Health benefits of jerky (✔)
-Snack taste (✔)
Cust. Relations
-Branding (✔)
-Customer education
-In-store demo
-Frequent buyer program
Cust. Segments
- Athletes (✔)
- Gourmet food enthusiasts (✔)
- Purposeful eaters (✔)
- Vegetarian Jerky
- Female segment (✔)
Key Resources
- Jon Sebastiani
- Direct to store delivery
- National distribution (✔)
-National Media (AP, WSJ, etc.) (✔)
Channels
-Direct to consumer – web (✔)
-Vending machines
-Specialty stores (Cost Plus) (✔)
-Supermarkets (✔)
-Krave Jerky Stores
-Airport kiosks (✔)
-South Beach diet
-Jerky store in Vegas
KRAVE CANVAS SUMMARY WEEK 14
Cost Structure
-Slotting Fees
-Temporary price reduction,
Scan based discount
-In-store demo
-$19m target market (specialty jerky)
-Gross margin vs. Revenue(✔)
Revenue Stream
-$5.95 (✔)
-KeHe/Tree of Life
-Direct Sales (✔)
-Flash sites (✔)
-QVC (✔)
-Cash flow
-2012 Projections

25. Key Partners
-Transactions: Paypal, Visa, Mastercard
-Channel to Consumer: HSN, Safeway,
QVC. KeHE)
Flash sale sites (Woot, Joss & Main, Fab)
-Public Relations Firm - Glodow Nead
-Manufacturer
-Order Fulfillment
Key Activities
-New distribution channels
-In-store demos
-Formal customer support
service
-Social media leverage
-Manufacturing
-Vertical/Horizontal integration
Value Prop
- Unique package
- Quality of meat
- Health benefits of jerky
- Snack taste
Cust. Relations
-Branding
-Customer education
-Public relations
-In-store demo
-Frequent buyer program
Cust. Segments
-Athletes
-Gourmet food enthusiasts
-Purposeful eaters
-Vegetarian Jerky
- Female segment
Key Resources
- Direct to store delivery
- National distribution
- National media (e.g. AP, WSJ articles)
Channels
-Direct to consumer – web
-Vending machines
-Specialty stores (Cost Plus)
-Supermarkets/retail
-Krave Jerky Stores
-Kiosks
KRAVE CANVAS FINAL
Cost Structure
-Slotting Fees
-Temporary price reduction,
Scan based discount
-In-store demo
-$19m target market (specialty)
-$500m jerky market (niche)
-Gross margins or revenues
Revenue Stream
-$5.95 (retail)
- QVC
- KeHE/Tree of life
- Flash sites
- Direct sales

26. WHAT’S COMING DOWN THE PIKE?
 Roll-out of KRAVE 2.0 in Q1 2012
 New Branding
 Better Product
 New Size (3.25 oz)
 Formal Marketing / PR Drive
 Launching with Safeway on National Basis in Jan 2012
 5 Flavors
 $5.99 / unit price to Consumer
 Addition of Other Major Distributors in Q4 ‘11 / Q1 ‘12

27. BUSINESS PERSPECTIVE
2011 – 2012 YOY Growth
2 0 1 1 - $ 1 , 6 0 0 , 0 0 0
2 0 1 2 - $ 7 , 0 0 0 , 0 0 0 + 4 5 0 %

28. Krave – on!