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xInvestment Opportunity
April 2017
What is chatnfly The first omnichannel and multilingual transactional chatbot focused on the whole travel industry value chain
TODAY
APPS SERVICES LANGUAGES
TOMORROW
APPS SERVICES LANGUAGES
other
Voyeur Flight search Traveler Before the trip At Destination
And a whole NEW platform for advertisers High quality inventory Ads (CHATEM - Chat Engine Marketing)
Founders Serial entrepreneurs and deep tech profiles backed by an Angel Fund
Carlos Núñez CEO/COO
Juan Prim CEO/CMO
Daniel Martin CTO
Ernest Sales Angel Fund
Entrepreneur with experience in startups (Balandras, raised €200k & led 8 people), venture builders (Finleap, Berlin, led 5 analysts under lean methodologies) and an international career. Graduated in Business at ESADE and U. of Illinois.
Full-stack developer with 10+ years of experience in tech projects, entrepreneur and experience on several startups and deep knowledge of agile methodologies
IT international leader with distinguished 30-year career at Hewlett Packard, where he retired as Senior Vice-President. He is also a successful startup investor.
Serial entrepreneur for more than 30 years and investor with a large experience in Real Estate, Urban Planning and Stock Market sectors. Expert in scaling businesses from 0 to thousands of workers and millions in turnover
Quickly growing by attracting key talent
Sara Palma Art Director
Sportium UX Degree at Pompeu Fabra
Daniel Telles Full-stack Developer
Everis
Rodrigo Mejía Growth Hacker
JobTday ES, UK Wallapop USA
Pol Sendra Sr. Full-stack Developer
Absis Degree Comp. Science at UPC
Fran. Armengol Sr. Full-stack Developer
Several startups for 7 years (eyeOS, Communify, Please.to)
Juan Prim CEO/CMO
Finleap VBuilder, Berlin CEO own startup, UK Corporate, UK, PT, ES
Daniel Martin CTO
CEO/CTO Own startup, Atos, UOC, Other startups
MKT Squad Tech Squad
Ernest Sales Angel Fund
VP HP
SEGITTUR Public Admin.
Carlos Núñez CEO/COO
Serial entrepreneur 30+ years of experience
Victor Campello Data Science Director
Physics + Maths. MSc Theoretical physics and Machine learning
Operations Squad
Professional investors
Operators Analysts
Data Science Squad
Amanda Alba
Paula Fibla
Laia Molera
Data Scientists
Bernat Sopena
Cristina Costa
Irene Roma
Elisha Aswani Interim CMO
CMO Glovo Zapper
Ingrid Delgado
BS in Maths and Physics/Business MSc Big Data and Data Science
Problem Solution
Downloads multiple Apps clogging, slowing down and leaving no space on his device
Finds himself sent to different service providers
Opens multiple tabs with different service providers in a slow and frustrating process
Undergoes a tough cross-selling to obtain the service
Is misled with unexpected fees at the end of the process.
No need to download multiple Apps.
Books right at the moment when need it
Has a single contact in the agenda to access all the different services before and during the travel
Can complete the purchase without undesired redirections.
Total transparency with price. NO unexpected fees.
His/her session never expires being able to refresh the last search without starting from scratch.
In constrained to the session expiring on the device and having to re-start the whole process
With a user: When booking a flight, a hotel, a rental car,
a restaurant or an event, today a user:
Loss of opportunity to get noticed. Loss of potential revenues.
Adver(sersCONNECTwithusers
Opportunity to get noticed and to increase their sources of revenues.
NOLINKbetweenadver(sersandtravelers
Search and book flights on the web/app 1
Search and book hotels on the web/app 2
Search and rent cars on the web/app 3
Share experience with friends/family on the CHAT
Plans to travel start with a CHAT
?Services offered at destination: events, restaurants on the web/apps/hotel concierges
The user needs to go to several services outside of the channel in which the travel is planned, the CHAT
• No retention / no
customer loyalty. The only way to interact with users is via spam mail and intrusive calls.
• Disconnection due to coerced cross-selling
Trip planning - UX radical shift
Today
others
At destination
Before the trip
The user plans the trip, searches and buys flights, books hotels, enjoys the rest of the services and shares his experience from the CHAT
• Integrated and frictionless process that ends-up being shared and recommended
With
Momentum - Market Size The travel industry globally is worth 7 trillion USD.
7 Apps and 7 languages put the whole world at our fingertips.
1.000 M
1.000 M
280 M
220 M
100 M
Users
7.300 M
700 M
4.000 M
Spain - Latam
USA, Europe
Canada, USA
Japan
Old USSR
Main area
World
China, Indonesia
World, USA, Europe
Spanish, English, Portuguese
English, Spanish
English, French
Japanese
Russian
Languages
7
Chinese
English, other
App
7
Other channels
160 M
500 M
1st phase. Any platform to offer the biggest possible inventory
2nd phase. Platform where any service provider can deploy their inventory directly, eliminating the middle men (intermediaries).
1st phase. Anyone who needs to fly.
2nd phase. Anyone who needs a guide (company) after the flight.
3rd phase. Anyone who hasn’t previously purchased a flight.
4th phase. B2B potential and corporate line
Product
Service Providers Users
The first centralized service provider in travel, global, omnichannel and multilingual
Natively scalable
• 100% functional • API agnostic • Text based • Omnichannel
The Amazon of Travel
Architecture SCALABILITY
Webhook diagram & Sender OMNICHANNEL
Definition conversations’
processor TRANSLATABLE
CRM/Dashboard OPERATIONS
Datasets description/AI/
PNL
UX/UI IMPROVEMENT
Technology Our platform is built to be massively scalable
Multi-search engine for the best results
Data analysis to improve Artificial Intelligence
Assistance (timely) to the user at predefined critical points for UX improvement
Omnichannel system to receive and send to the different
channels.
other
other
Metasearchers - Skyscanner - Kayak - Momondo
- Consolidators - Low cost - Platforms - OTAs
GDS - Amadeus - Sabre - Travelport
Message Processor Text analysis
and user actions
Receiver Sender
Dash-board
SEARCHER BIG DATA
• Totally functional • Not scalable • Not sustainable • Exclusive concierge service
Expedia/Priceline/Ctrip have blocked their competitors via SEM/Display (AdWords /AdSense), hurting OTAs and in the near
future also the airlines
Web / Apps
Priceline
Expedia
OTAs & Metasearchers
Hu
ma
n-b
ase
d
Co
nc
ierg
e
US | Own App US | Own App / SMS US | OwnApp US | Own App
ETA.AI
Competition
US | Facebook UK | Facebook US | Facebook
AI-
Ba
sed
* T
ext
/ R
ule
s +
AI
Ba
sed
Chatbots
Plus many atomized players offering services at destination
Du
op
oly
Only Chat Apps can break the
high MKT costs barrier
Hotels, car rental and
other services.
Entry Barrier
World of
profits
Global | WhatsApp, Facebook, Telegram, SMS…
• Totally functional • Stable Sales Funnel • Scalable and sustainable • Potentially omnichannel & multilingual • No human intervention required
• Not functional in short/mid term • Bad UX, unstable sales funnel • Dependence on API functionalities for chats • They end up pivoting to Apps and losing all value
(*) SeeAnnex1:UXCompe22on
Unique Value Proposition Competitive advantages
We are the first to have them all
Functional chatbot The first transactional chatbot fully functional, and without requiring human intervention. CHAT-FIRST.
Stable sales funnel First chatbot in having a stable sales funnel with an optimum UX.
Omnichannel chatbot We’re first mover in different Instant Messaging Platforms
Multilingual chatbot Easy to replicate the service in other languages and expand the business internationally..
The whole sales funnel and all revenue streams We can monetize all stages of the sales funnel with Big data (CHATEM), affiliation marketing and service fees.
Since we accompany the user throughout his/her trip We differ in cross-selling over time, we are a contact among your friends and family.
Acquisition Monetization Customer loyalty
Low cost activation Activating users for <0,50€ despite the SEM blocking by the Expedia/Priceline duopoly. Opportunity to block the channel.
1st
1st
1st
1st
(*) SeeAnnex2:WorldwideCompe22on
(*)
Business model Diversified revenue streams
A coming promising picture Growth metrics with very low marketing investment
We are experiencing a high growth of unique users since the beginning of the activity and sales activation of the last cohort
• Growth has increased not only in terms of users but also searches and purchase rates
• chatnfly fully transactional bot is automatically closing sales, being the average order value around 200€
Monetisation funnel Metrics in constant improvement
Stable sales funnel with constant improvement on both conversions and costs
Sales funnel improvement
Improvement of costs per action
3,5 Searches/
user
0,27€ activated
user
Date
First cohort (1 month)Second cohort (10 days)Improvement
Passenger data
Addres data
Payment Gateway Payment
4,60% 1,60% 1,00% 0,04%7,00% 3,10% 1,60% 0,35%52,50% 92,40% 68,10% 842,00%
Date Total investment Activation Search OK
purchasePassenger
dataAddres
dataPayment Gateway Payment
First cohort (1 month) 1.971,15 € 0,27 € 0,24 € 0,54 € 5,98 € 16,93 € 28,43 € 739,21 € Second cohort (10 days) 267,00 € 0,08 € 0,11 € 0,14 € 1,21 € 2,72 € 5,24 € 24,27 € Improvement -69,00% -52,83% -74,60% -79,70% -83,91% -81,59% -96,72%
Act
ivat
ed
Use
rs
OK
Pu
rch
ase
Ad
dre
ss
Pas
sen
ge
r
Gat
ew
ay
Pay
ToFu (Top of Funnel)
BoFu (Bottom of Funnel)
100% 61,2%
7% 3,1%
1,6% 0,35%
Costs drop in both parts of the Sales Funnel -ToFu (Top of Funnel) and BoFu (Bottom of Funnel)- due to improvement with the MKT campaign in the last cohort
-€
20,00€
40,00€
60,00€
80,00€
100,00€
120,00€
140,00€
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CostesAc7vaciónBoFu
DATOSPASAJERO DATOSDIRECCIÓN PASARELA PAGO
-€
0,50€
1,00€
1,50€
2,00€
2,50€
3,00€
3,50€
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CostesAc7vaciónTofu
ACTIVADOS PLANTILLA BUSQUEDA COMPRAAc(vated SearchForm Purchaseac(on Passengerdata
AddressData PaymentGateway
Ac(va(onCostsToFu Ac(va(onCostsBoFu
Payment
PRCampaign
Monetisation funnel Metrics in constant improvement
Everybody talks about us
Impact on media (+70 media, +10 interviews)
Comments from users, fans and public institutions
Carlos Romero, Director of R&D at SEGITTUR speaking about chatnfly in the UNWTO Congress on Smart Destinations
And many more…
Views of 1 Facebook video
+100.000 Facebook fans +10.000 followers on Twitter
Initial PR is building a loyal community of fans and followers
Financials - Unit Economics Projections are based on real industry data and first moment will already deliver a
strong user value
Financials - P&L Overview 2017 breakdown + 3year forecast
Extraordinary margins with +50% Profit / Revenue levels already during years 2-4
Financials - P&L Overview
Figures in Euros (€)
Net profit
Total Revenue
-1.382.726
2017 2018 2019 2020
6.084.441
12.703.641
17.6888.000
32.881.022
46.039.899
77.782.264
Regions where the mines are implanted (minimum critical mass of users) to penetrate in the market
Growth strategy Mine strategy
2. Explode mines to expand:
“Bring a friend” program
Great Social Ads investment
Great media/press pressure
Ads on TV
Affiliate program with bloggers
1. Actions to get the critical mass:
PR/Publicity
Social Ads (Facebook & Twitter)
Operative objectives
Language optimization
Supply of services
Test Region
Spain
Region 1
UK, Holland, Denmark, Sweden and Australia
Region 2
USA, Canada
Region 3
Germany, Austria, Switzerland
Region 4
France, Belgium
Rest of regions
Italy, Brazil, UAE, Saudi Arabia, Mexico, Chile, Argentina,
Perú, Colombia, China, Russia, Japan, India
User Growth & Breakdown by Region
2.053.522&&&
13.839.790&&&
34.854.955&&&
79.940.875&&&
2017 2018 2019 2020
Aggregated activated users3,1% 1,7%
3,8%3,1%
1,2%
12,7%
3,9%
8,8%
3,2%
41,2%
4,2%
3,9%9,1%
Users by Region
Región01
Región02
Región03
Región04
Región05
Región06
Región07
Región08
Región09
Región010
Región011
Región012
Región013
Users by Region (%) Aggregated activated users
Growth strategy
(1)
(2)
(3)
PublicFunding
Publicfunding-Resolu2onMay2017Publicfunding-Resolu2onJuly2017
Funding Pre-Series A Conver(bleNoteTimeddiscountoverSeriesApre-moneyMinimuminvestmentà€300k
2.000.000€
Minimuminvestmentà€500k
MediaforEquity 1.000.000-2.000.000€
5.000.000€
3.000.000-5.000.000€MediaforEquity
CapitalIncrease
+
Use of Funds
Valida(onofdifferent
marketsandroll-outacross
Tier1Countries
GlobalRoll-out
Investments to date
Founders&Angels 420.000€SegiZur(1) 374.000€
Enisa(2) 300.000€
Closed
2.500.000€SMEInstrument(3)
Applica(onsprocessed
(equity fully owned by founders /angel fund) no VCs on board so far)
Use of Funds
Concept/ProductDev.
Valida(on/Mktlaunch
Marke(ngPush
Tier1countriesroll-out
Series A Use of Funds
Fly with us.
We are taking off
juan@chatnfly.comcarlos@chatnfly.com
,
User adds chatnfly to his contacts and sends
Hi
Step 1 Step 2 Step 3
Sends FORM filling basic
flight info.
Type OK to confirm purchase.
Using the FORM concept, in 3 easy steps the user books any flight
Typical chatbot
Annex 1: UX Approach Simple & Easy-to-fill Template FORM
§ Skyscanner Bot takes much longer to book and complete the flight purchase.
§ Requires one to ask everything making it prone for error and confusing.
§ It is not precise nor fast.
§ The user needs minimum 7 steps to complete the process
§ It is limited as it only provides city suggestions and the user needs to go to their website to complete the booking.
Annex 2: Other competitors Very different tech-stage, channel focus and scalability potential
NAME GEOGRAPHY CHANNEL REACH ESCALABILITY NAME GEOGRAPHY CHANNEL REACH ESCALABILITYAirAsia CHINA Instant Messenger Travel Concierge - human SpotHelp CHINA Instant Messenger + Chat Web Generalist Concierge - human
Alex Finds USA Instant Messenger Vertical Concierge - human Text Emma USA Instant Messenger Travel Concierge - humanAssi.st USA Instant Messenger Generalist AI Text My Pa INDIA Own App + Instant Messenger Generalist Concierge - human
Awesome UK Instant Messenger Generalist Concierge - human TravelFlan JAPAN Instant Messenger Travel Concierge - humanBusyOrders INDIA Instant Messenger Generalist AI TripChat USA Instant Messenger + Chat Web Travel Concierge - humanDelegateIt USA Own App + Instant Messsenger Generalist Concierge - human WishUp INDIA Own App Generalist Concierge - human
EASE USA Instant Messenger Generalist Concierge - human MeetLuka USA Own App Generalist AIEta.ai USA Own App Travel AI MeetCloe USA Instant Messenger Generalist Concierge - humanGenie DUBAI/USA Instant Messenger Generalist Concierge - human Hero UK Own App Generalist Concierge - human
GoButler USA Own App Flights AI Goodbox INDIA Own App Generalist Concierge - humanGoHero INDIA Own App + Chat Web Travel Concierge - human Alison UK Instant Messenger Travel Concierge - human
GoodService INDIA Own App Generalist Concierge - human Ana (Copa Airlines) PANAMA Instant Messenger / Own App Travel Concierge - humanHawte USA Instant Messenger / Own App Generalist Concierge - human Julie USA Instant Messenger Travel Concierge - human
HelloGbye CANADA Own App Travel AI Sofia PORTUGAL Instant Messenger Travel Concierge - humanHelpr ASIA Instant Messenger Generalist Concierge - human Expedia FB USA Instant Messenger Travel AI
Hola Gus MÉXICO Instant Messenger Generalist Concierge - human Skyscanner FB USA Instant Messenger Travel AIHyper USA Own App + SMS + mail Travel Concierge - human CheapFlights FB USA Instant Messenger Travel AI
InstaHelp USA Instant Messenger Travel Concierge - human CheapOair: Flight FB USA Instant Messenger Travel AIIthaka THAILAND Own App + Chat Web Travel Concierge - human Instalocate USA Instant Messenger Travel Concierge - human
KayakSnap USA Chat Web Travel Concierge - human Assist USA Instant Messenger Travel Concierge - humanKLM HOLLAND Instant Messenger Travel Concierge - human Hipmunk USA Instant Messenger Travel AILaiye CHINA Instant Messenger + Own App Generalist Concierge - human Taylor USA Instant Messenger Travel AI
LolaTravel USA Own App Travel Concierge - human Claire USA Instant Messenger Travel AILusiv UK Own App Generalist Concierge - human Carla USA Instant Messenger Travel AI
Ly.com CHINA Instant Messenger Generalist Concierge - human Cinch USA Instant Messenger Travel AIMagic USA Instant Messenger Generalist Concierge - human Tradeshift Go USA Instant Messenger / Own App Generalist Human + AI
Mission Control GERMANY Instant Messenger + Web Travel Concierge - human Mezi USA Instant Messenger / Own App Travel Human + AIMy Crusoe USA Chat Web Travel Concierge - human ReplyYes USA Instant Messenger Generalist Human + AI
Operator.com USA Own App + Instant Messenger Generalist Concierge - human Caravelo SPAIN Native Web Travel Human + AIPana USA Own App + SMS + mail Travel Concierge - human Destinia UK Instant Messenger Travel Human + AI
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