Presentation is loading. Please wait.

Presentation is loading. Please wait.

Mission Statement: Cabeasy is a mobile app that gives users the ability to “name your own price” for car service on Smartphone’s. Similar to Priceline,

Similar presentations


Presentation on theme: "Mission Statement: Cabeasy is a mobile app that gives users the ability to “name your own price” for car service on Smartphone’s. Similar to Priceline,"— Presentation transcript:

1 Mission Statement: Cabeasy is a mobile app that gives users the ability to “name your own price” for car service on Smartphone’s. Similar to Priceline, the process takes under two minutes. Contact: Jonathan McKinney, Founder +1 917-224-0242 jon@cabcorner.com jon@cabcorner.com NAME YOUR OWN PRICE with CabEasy! App Available for Download on iTunes

2 Problem(s) + Solution THE AREA OF OPPORTUNITY: People (riders) in several population centers in New York City and similar urban centers around the country have problems accessing convenient and affordable transportation in their cities. Instead, they have to rely on mass transit because affordable and price-transparent alternatives are not readily available to meet their inner city and airport transportation needs. They feel helpless with unrestrained prices, and without the ability to shop around or negotiate. ADDITIONALLY: These car services (providers) operate using inefficient pricing models, inelastic cost structures and generic marketing, placing a significant part of the travelling public out of their reach resulting in vehicle under utilization and lost revenue. SOLUTION: Create a platform in which riders have more price control AND fleet providers can maximize fleet utilization, thus reducing costs 2/14

3 How it Works & Current Status CabEasy is a technology-based car service bidding platform, offering riders & providers a way to interact with one another in a more dynamic and market-driven manner.  Rider inputs location/destination and submits bid to multiple provider(s)  Providers accept, reject, or counterbid rider offer  Rider accepts (best bid); rejects undesirable counterbids  Core target: urban dwelling smart phone/tablet users, with various transportation needs and discretionary income 3/14

4 How it Works & Current Status Current Status  Beta launched in April ’12 in New York City promoted exclusively through social media  Secured downloads and registered riders via the App Store within the first week of launch (app available exclusively on the iPhone).  Within the first week of launching, we secured 15 providers and confirmed multiple rides  Active rider/provider database with week over week growth of 4-7%  Business model: 1.) Transaction fees, 2.) Provider premium accounts, and 3.) Advertising  Direct competitor to Uber, with a more dynamic pricing model (ex: American Express concierge vs. Priceline) 4/14

5 Shuttle Price: medium Comfort: medium Prep Time: long Time Risk: high Subway, Bus Price: low Comfort: low Prep Time: Medium Time Risk: Medium T RANSPORT M EANS A ROUND U RBAN C ITIES Taxi/Car Service Price: high+ Comfort: high Prep Time: short Time Risk: medium Walking/Biking Price: low Comfort: medium Prep Time: short Time Risk: medium CabEasy Price: low to medium Comfort: high Prep Time: short Time Risk: medium Comfort Price Prep Time + - - + - + 5/14

6 Facts & Assumptions: New York City Source: Bruce Schaller; Schaller Consulting; Published: “A regression Model of the number of taxicabs in U.S. cities” in 2007 “Taxicab Fact book” Wikipedia “50 busiest Airports in the US” http://en.wikipedia.org/wiki/List_of_the_busiest_airports_in_the_United_States Bruce Schaller “Taxi Fares in Major U.S. Cities” http://www.schallerconsult.com/taxi/fares1.htmhttp://en.wikipedia.org/wiki/List_of_the_busiest_airports_in_the_United_States FACTSRIDES PER DAYRIDES PER MONTHRIDES PER YEAR TOTAL RIDES1.2MM36MM432MM AIRPORTS 40%480K14.4MM173MM INTERCITY 60%720K21.6MM259MM 6/14

7 Facts & Assumptions: New York City Source: Bruce Schaller; Schaller Consulting; Published: “A regression Model of the number of taxicabs in U.S. cities” in 2007 “Taxicab Fact book” Wikipedia “50 busiest Airports in the US” http://en.wikipedia.org/wiki/List_of_the_busiest_airports_in_the_United_States Bruce Schaller “Taxi Fares in Major U.S. Cities” http://www.schallerconsult.com/taxi/fares1.htmhttp://en.wikipedia.org/wiki/List_of_the_busiest_airports_in_the_United_States REVENUE AVERAGE COST PER RIDE $/DAY$/MONTH$/YEAR AIRPORT REVENUE 22.6MM678MM8.1B$47.00 INTERCITY REVENUE 9.4MM282MM3.4B$13.10 TOTAL REVENUE OPPORTUNITY 32MM960MM11.5B 7/14

8 Facts & Assumptions: New York City Assumption #1): 70 current Cabeasy users; if each booked one ride per month for 12 months = 840 rides; we believe with an aggressive marketing campaign which will include social, viral, traditional, word of mouth, PR, we can secure 19,000 rides by January 2013 (approx: 1,540 users) Assumption #2) Cabeasy will assume our growth rate 4%-7% per month – based on current growth rate w/ no marketing Assumption #3) Cabeasy will be taking 10% commission on each confirmed ride (airport & intercity rides) **Assumption #4) All other markets equal 25% of New York’s taxi market and revenue potential Source: Bruce Schaller; Schaller Consulting; Published: “A regression Model of the number of taxicabs in U.S. cities” in 2007 “Taxicab Fact book” Wikipedia “50 busiest Airports in the US” http://en.wikipedia.org/wiki/List_of_the_busiest_airports_in_the_United_States Bruce Schaller “Taxi Fares in Major U.S. Cities” http://www.schallerconsult.com/taxi/fares1.htmhttp://en.wikipedia.org/wiki/List_of_the_busiest_airports_in_the_United_States 8/14

9 Total Available Market (Top 10 Markets) 9/14

10 Sources & Uses of Cash 5 Year Projection: New York City 10/14

11 Profit & Loss Statement 2011 11/14

12 Team Founder: Jonathan McKinney (http://linkd.in/JwDHXN)http://linkd.in/JwDHXN  Graduated from Wesleyan University in 2004, and initially explored the world of nonprofit organizations, notably at Visions Services for the Blind in NYC. He then shifted gears, working as a junior bond analyst at R.W. Pressprich before heading off to Asia to teach on a two year assignment.  Upon returning to the U.S. in 2008, he founded and launched a New York City centered mobile web based cab-sharing platform, "CabCorner.com". In 2012, he expanded his model to include "CabEasy" a cab-bidding platform. Technical Lead: Russel Kaplan (http://linkd.in/Lm9Ra4)http://linkd.in/Lm9Ra4  Programming Languages: C# (WPF, WCF), VBA. Database Technology: T-SQL, SQL Server (2005 & 2008), Sql Server Analysis Methodologies: Agile with Scrum.  Graduated: VASSAR COLLEGE, Poughkeepsie, NY Bachelor of Arts, Mathematics, May 2005 Honors: Cum Laude, Phi Beta Kappa 12/14

13 So Why Invest in Cabeasy? CabEasy is simple and clear  A simple concept & promise: name your own price and save money  Ease of use for riders & providers  A scalable product  A proven model in test market (NYC) and ready to launch in more US cities and internationally  Less than 1 month after beta launch, active and growing base of riders and providers Next steps __________________________________________________________ 13/14

14 14/12 Proof of Concept


Download ppt "Mission Statement: Cabeasy is a mobile app that gives users the ability to “name your own price” for car service on Smartphone’s. Similar to Priceline,"

Similar presentations


Ads by Google