company overview - cwi...etouches co-president the jordan edmiston group executive vp of baseball...
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D I N N E R L A B , I N C .
1029 Oretha Castle Haley BlvdNew Orleans, LA 70113
Stay up to date!#DinnerLab on Instagram @DinnerLab on Twitter
L E A R N M O R E :
www.dinnerlab.com
COMPANY OVERVIEW
C O N F I D E N T I A L
P A R T N E R S H I P P R O P O S A L2 D I N N E R L A B
DINNER LAB
Dinner Lab is a full stack event experience company operating in 31 cities across the United States. The company convenes a community that discovers new culinary talents and ideas from the best kitchens. By combining elements of a rotating dinner series with diner engagement, Dinner Lab creates the dinner club of the future and the ideal vehicle for brands to gain exposure.
Having hosted over 2,500 events, Dinner Lab is the largest culinary events company in the United States, and is uniquely positioned to corner the offline activation market.
In addition to the consumer/brand side of the business, Dinner Lab works with companies like Google, Mercedes Benz, and NASDAQ to create unique experiences for their guests in both conventional and unconventional spaces alike.
C O N F I D E N T I A L
P A R T N E R S H I P P R O P O S A L3 D I N N E R L A B
OUR BRAND
H I G H B R A N D L O Y A L T Y
2015 Online Services category leaders were Pandora at 56,
followed by Netflix at 54
S O C I A L M E D I A G R O W T H
15% growth - month over month
A T T R A C T E D B R A N D P A R T N E R S H I P S
The Dinner Lab model has attracted partnerships with other major brands including Google, American Express, Live Nation
and The Smithsonian Institution
V A L I D A T E D B Y I N D U S T R Y
We have worked with top culinary talent from some of the best
restaurants in the world including Per Se, French Laundry, Eleven
Madison Park, and Uchi
“THE MOST FINELY TUNED CONCEPT IN
DINING HISTORY”
“ONE OF THE HOTTEST BRANDS”
“A FOOD REVOLUTION IS BREWING”
“ONE OF THE WORLD’S MOST INNOVATIVE
EVENT COMPANIES”
55
C O N F I D E N T I A L
P A R T N E R S H I P P R O P O S A L4 D I N N E R L A B
TEAM
RAVI PRAKASH
JAMES RIVER CAPITAL AND PAXION JOHN ELSTROTT ONI CHUKWU SCOTT PETERS BILLY BEANE
Chief Technology Officer
Venture Capital Funds Series A Lead
Chairman of Whole Foods
President & CEOetouches
Co-President The Jordan
Edmiston Group
Executive VP of Baseball Operations
Oakland Athletics
Tulane University-MBA, Microsoft Corporation, HCL Technologies, Bell Labs, Idea Village
BRIAN BORDAINICK Chief Executive Officer
University of Georgia-History, Teach for America, 9th Ward Field of Dreams, Senior strategic advisor to Mayor of NOLA, Director of Investments at 4.0 Schools, Forbes 30 Under 30
BRYSON AUST Chief Financial Officer
Tulane University-MBA, University of Alabama Huntsville – Computer Science, Chief Technology Officer of Stonefish Capital, quantitative analyst at BAM Capital, and global head of a sales support for Imagine Software
FRANCISCO “PACO” ROBERT Chief Operating Officer
Tulane University-MBA, University of Virginia-Economics, Culinary Institute of America, Arzack (Spain), Executive Chef / Consultant of Xu (Vietnam), Alinea (Chicago), EMH Strategy
ZACH KUPPERMAN Chief Business Officer & General Counsel
Tulane University-JD, University of Texas-Government, SteegLaw, Pollbob, SiliconBayouNews.com, Gambit’s 40 under 40, CityBusiness Innovator of the Year
KEY INVESTORS AND BOARD MEMBERS
C O N F I D E N T I A L
P A R T N E R S H I P P R O P O S A L5 D I N N E R L A B
WHAT WE’VE DONE TO DATE
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E V E N T S B Y Y E A R
C O N T R A C T O R S H I R E D
Dinner Lab has developed a world class system for executing events of all sizes and variations across the United States.
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O U R M A R K E T S
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M E M B E R S
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C O N F I D E N T I A L
P A R T N E R S H I P P R O P O S A L6 D I N N E R L A B
OVERVIEW
Brands / people are looking for alternative ways to convene in unique communities offline.
Tickets Purchased Per Transaction
Average % of Seats Booked Per Event Event Rating (out of 5)
Dinner Lab Members Per City Member Income Averages
2+ tickets
2 tickets
1 ticket
25 Other Cities
Chicago
Austin
Los Angeles
New Orleans
San Francisco
New York
DL Median Income
Median Household
Income
010,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
0
20
40
60
80
100
2016year to date
20152014
56.8% 38.2%
5% 14.5%
13.1%
8.6%4.4%4.1%4.1%
51.1%
69.95% 69.70%
92%
2+ tickets
2 tickets
1 ticket
25 Other Cities
Chicago
Austin
Los Angeles
New Orleans
San Francisco
New York
DL Median Income
Median Household
Income
010,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
0
20
40
60
80
100
2016year to date
20152014
56.8% 38.2%
5% 14.5%
13.1%
8.6%4.4%4.1%4.1%
51.1%
69.95% 69.70%
92%
2+ tickets
2 tickets
1 ticket
25 Other Cities
Chicago
Austin
Los Angeles
New Orleans
San Francisco
New York
DL Median Income
Median Household
Income
010,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
0
20
40
60
80
100
2016year to date
20152014
56.8% 38.2%
5% 14.5%
13.1%
8.6%4.4%4.1%4.1%
51.1%
69.95% 69.70%
92%
2+ tickets
2 tickets
1 ticket
25 Other Cities
Chicago
Austin
Los Angeles
New Orleans
San Francisco
New York
DL Median Income
Median Household
Income
010,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
0
20
40
60
80
100
2016year to date
20152014
56.8% 38.2%
5% 14.5%
13.1%
8.6%4.4%4.1%4.1%
51.1%
69.95% 69.70%
92%
People are coming with friends to meet other people
Our geographic diversity presents an opportunity to penetrate deeper in major markets
Our event performance has increased quarter over quarter since inception
% Capacity Filled
4.51 / 5o v e r a l l f o r a l l
m a r k e t s i n 2 0 1 5
C O N F I D E N T I A L
P A R T N E R S H I P P R O P O S A L7 D I N N E R L A B
WHY WE ARE WHERE WE ARE
Dinner Lab is quickly picking up large scale event contracts in an
incredibly fragmented industry to drive ROI for companies.
P A R T N E R / P R I V A T E E V E N T S A L E S
Dinner Lab has developed systems and relationships to
operate across the United States, giving businesses the ability
to centralize their entire event footprint under one house.
G E O G R A P H I C S C A L EM E M B E R S
No other event experience company has spent the time
and energy to develop a robust consumer side to their business.
C O N F I D E N T I A L
P A R T N E R S H I P P R O P O S A L8 D I N N E R L A B
CURRENT1 -2 months out
CURRENT3 weeks out
Secure event location
3 weeks prior to an event
Paid (Select) members are notified of event details. *
TRENDING1.5 months out out
GOAL12 months out out
The chef, menu, price point, and theme for the event is set.
5 daysprior to an event
Guests are given high level logistics and asked guest dietary preferences. The day prior to an event, guests are notified of the exact location.
the dinner
Diners are seated at long communal tables which encourage guest interaction, and the chef introduces the menu theme and backstory, engaging diners in the experiences.
2 weeks prior to an event
Free members are notified of event details. * 30 min
happy hour
Dinners start with a check-in process happy hour with signature cocktails which also serve as a sponsorship opportunity for Dinner Lab.
member feedback
Accompanying diners is a feedback/menu card to provide detailed notes on them menu which are shared with the chef along with Dinner Lab sta� to evaluate performance. To date, our member events fully loaded have averaged approximately a 13% margin.
PRE EVENT
with HBC partnership
DURING EVENT
TRENDING2 - 3 months out
GOAL12 months out
* Dinners are typically 120 people at $65/head, or $7,800 per event.
MEMBER EVENT FLOW
C O N F I D E N T I A L
P A R T N E R S H I P P R O P O S A L9 D I N N E R L A B
CASE STUDIES
In addition to the standard consumer culinary events, Dinner Lab also does corporate events, sponsorships, and unique experiences. These dinners are either private or co-marketed.
P H A I D O N B O O K R E L E A S E T O U R
Events
Size of Events
Partnership Details:
Book publisher released a new book and Dinner Lab hosted a multi-city release tour to promote the product
15
120 people
S E R I O U S E A T S / R O A D F O O D
Events
Size of Events
Partnership Details:
$1.1 MM contract for branded dinners
70
120 people
M E R C E D E S B E N Z
Events
Size of Events
Partnership Details:
Brought guests and VIPs to
Mercedes dealerships for
white-label offline activations
12
120
L I V E N A T I O N
Events in 2016
Size of Events
Partnership Details:
Dinner Lab hosted VIP experiences prior to concerts that gave client the ability to up-charge on ticket prices
200
100 people
C O N F I D E N T I A L
P A R T N E R S H I P P R O P O S A L1 0 D I N N E R L A B
HOW PRIVATE EVENTS WORK
Size & Scope: $19,116 for 100 people ($180/head).
Purpose: BCBG wanted to give their elite members “first look access” to a summer clothing
line launch.
The Dinner: We curated a menu and beverages to
match the “clean and summer style” of the clothing line.
Margin:27.08%
BCBG MAX AZRIA GROUP, LLC
Size & Scope: $57,400 for 440 people ($130/head).
Purpose: Tulane Athletics hosted the event during
Homecoming for athlete alumni and athletic program boosters.
The Dinner:50 Yard Line on the field at Yulman
Stadium.
Margin:63.85%
Tulane University Athletic Department
Size & Scope: $21,000 for 200 people ($95/head).
Purpose: Bringing together WeWork community
for on-site dinner.
The Dinner:dinner for 120 people in Dinner Lab
format at WeWork venue in NYC.
Margin:46.19%
WeWork
C O N F I D E N T I A L
P A R T N E R S H I P P R O P O S A L1 1 D I N N E R L A B
HOW PARTNER EVENTS WORK
Partner pays set fee
Partner provides unique discount or brand
activation
Partner markets event
Dinner Lab technology is utilized as back end and all
guests become members
Dinner Lab markets to our community
Dinner Lab sells sponsorships
C O N F I D E N T I A L
P A R T N E R S H I P P R O P O S A L1 2 D I N N E R L A B
LOGISTICS
O P E R A T I O N S
Centralized team curates tailored event experiences
Dinner Lab utilizes video conferences, training and in person modules to quickly
train staff on best practices
Centralized purchasing and staffing fromcorporate headquarters
We’ve worked with over 5,000 contractors in this format
5,000+
Dinner Lab utilizes sophisticated proprietary technology, training, and hiring practices that lead the industry in our ability to execute one off events at scale.
C O N F I D E N T I A L
P A R T N E R S H I P P R O P O S A L1 3 D I N N E R L A B
LOGISTICS
T E C H N O L O G Y
Dinner Lab utilizes Salesforce technology for streamlined workflows, budgeting, and event
communications
Custom ticketing system with multiple payment integrations
Ability to track guests through single sign authentication with Facebook, Google and e-mail
Profile creation gives us the ability to track guests preferences
All of this seamlessly integrates with our customer support help desk and e-mail communication which is used for marketing and event logistics
C O N F I D E N T I A L
P A R T N E R S H I P P R O P O S A L1 4 D I N N E R L A B
UNIT DETAILS AND ECONOMICS OF A SINGLE EVENT
E V E N T R E Q U I R E M E N T S
$40% profit margin on partner /
private events
15% - 25% target profit margin on member events
P R O F I T
$60-$85 / ticket includingfood, drinks, and gratuity
T I C K E T SS E A T I N G S
1 seating,totaling 120 guests
Our streamlined process requires minimal on site staff and logistics.
Full Time Employees:
Part Time Employees:
Guest Chef:
Production Time:
Potential Subsidies:
2
15
1
36 hours
LocationAlcohol
Ingredients
C O N F I D E N T I A L
P A R T N E R S H I P P R O P O S A L1 5 D I N N E R L A B
By securing the investment and further partner / private event contracts, we will quickly reach profitability and 10x both our revenue and valuation.
FINANCE
E V E N T S / Y E A R
R E V E N U E B Y Y E A R
T O D A T E W E H A V E R A I S E D E V E N T S / Y E A R
Currently we are executing ~1,300 events each year in 31 markets
across the United States.
We are projecting company-wide profitability when executing
2,500 - 3,000 events each year.
~1,300
2,500 - 3,000
$10.1 M $500,000
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C O N F I D E N T I A L
P A R T N E R S H I P P R O P O S A L1 6 D I N N E R L A B
CONCLUSION
Innovation in the corporate events industry has been relatively non-existent.
A well branded technology enabled experience company with the infrastructure and reach of Dinner Lab has the opportunity to corner the B2B events market.
As the economy constrains and companies get more selective on their marketing spend, Dinner Lab can deliver a ROI unlike any other brand.
Dinner Lab has breathed life into a tired and fragmented industry, and already 4x our partner / private event revenue from 2015 for the first quarter of 2016.