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IDEAPlatform for promo sales and smart giveawaysbased on the sealed-bid second-price auction
THE PROBLEMSleepless nights in bidding an auction...Lost in last seconds...Wasted time...
Overpaid items...“You were overbid” notifications...
I’d better used “Buy it now”...
... delusion in auctions
Classic auction is not suitable for mass-market products
THE SOLUTIONSecond price auction
with blind bids and fair pricing
MINUTION ADVANTAGEVendor can sell numbers of itemsto various customers in one deal
CUSTOMER BENEFITNo overpaying
Ever
VENDOR OPPORTUNITYIt’s an awesome method to make promotions and giveaways
Perfect pricing tool which makes your way into the market easierFor free
CHOOSE A PRODUCT YOU LIKE
PAY WHAT YOU WANT
Each item has two prices:Asking (market) price – ex. $29.99Reserve (discount) price – ex. $9.99
Bid with your price in the gapChoose an amount how much is this product valuable to you
WINNERS PAY LESS
Fair price is the price that your losing rival is ready to pay Ex. $15 instead of $20 and $16 offered
DISTRIBUTIONDirect salesSocial media
Affiliate program
THE MARKET$2 TRILLIONS
spent globally in 2010 on digital products
$2 000 000 000 000 are huge money!
segmentation is under discovering
THE COMPETITIONDirect: social-buying services (Groupon, Privalia, AppSumo), daily deals sites
Indirect: marketplaces (Amazon), auctions (eBay)
THE MONEYMinution makes money by selling bids from: $0.19 to $4.99
Alternatives:Subscription to premium features for the sellers
Advertising and promo tools for brands and shops
THE PLAN500K of customer signups
generate 200K of successful bids by the end of 2012$1.5M+ in revenues from 6M+ customers by the end of 2013
THE TEAMcreated and launched first and the biggest penny auction in Russian Internet
30k of signups in 3 monthsfirst day profitable
Pavlo Bogaccifounder and CEOentrepreneur, theory economist, game theory 10+ years of Italy - Ukraine export trading experience
Rodion VshevtsovCTO
Agile Ruby on Rails developermade high-load projects such as http://ratepoint.com
Yegor ZubaretsCIOAgile product development and lean startup building
THE ASK$1.5M venture capital
strategic partnership and advisors
THE POINThttp://minution.com
is up and running and need some fuel to hit the road
THANK YOU!Pavlo Bogacci
http://facebook.com/bogacci
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