We are currently seeking Pre-Seed funding to be able to marked our mobile app effectively and for longer term AI programming and training.
Our dev team are developing our initial match feature, backend and mobile apps to be tested for a viable MVP. Development will leverage our platform to enable our users to interact without costly intermediaries while ensuring our commitment to the highest possible level of data privacy, placing us at the forefront of a trend towards stricter data privacy legislation as evidenced by GDPR. Upon program completion, beta results from a completed MVP will set us up for crucial private equity investment to fund further development of the AI-assisted match functionality in partnership with external AI developers.
The business has finished refinement of idea development and the initial programming phase of app development once funding is obtained. This work includes wireframing the app for UX/UI design and formulating full requirements specifications to streamline the transition to full-fledged development. The business has finalized its business plan and budgeting and completed market analysis.
This business is the perfect investment simple because it solves one of our time's biggest problems - loneliness. It was born globally from a wish to fight loneliness. It has a huge growth potential filling out the gap in the current social media landscape which among other things was evidenced in the resent NetFlix documentary "The Social Dilemma".
The business’ initial target demographic are millennials, aged 24-39 and upcoming Gen Zs entering this age band, the most lonely generations we have ever seen. The target demographic is expected to widen over time - like Facebook first targeting college students only. Research shows the market need: 35% of Millennials and up to 50% of Gen Zs self-report lacking close friendships. The market size, in a phased launch strategy including the West, Latin America and India, consists of 819 million individuals, of which 301 million report wanting more close friendships - 8% of the global social media landscape sized at 3.5 bn users. The traction growth rate demonstrated on Facebook, documents the interest. In 5 years, a userbase of 40 million is expected ~ 1% of the global market. Surveying our Facebook following, 36% are willing to pay for the proposed service. Of those, 65% say €3+/month is reasonable. 57% wish they had more close friends. The competitive landscape is robust, Bumble being a direct competitor.
However, the fact that so many report lacking close friendships despite existing competitors, clearly demonstrates failure to meet the market need. Combined with the AI-driven match functionality as a strong value proposition unlike anything offered by existing networks, market penetration is achievable.
An engaging events strategy will leverage highly engaging video content of adventures from some of the most spectacular places around the world, and build up brand loyalty as a safeguard against copying.
Using the following figures for a Freemium model: a premium subscription averaging 100 DKK/year; a gradually increasing expected ad revenue for free users approaching the per user figure for Instagram of $8.5/year; a ratio of premium to free users of 1% in year 1 to 17% in year 5; and inputting the user-base as 40 million in year 5, LifeBonder will break even in year 2. The largest costing items are marketing and payroll - the top 3 being: programmers, support and marketing. Market dissemination is ensured by the events strategy, which cost effectively brings the solution to millions. The expected rapid growth of the userbase reduces costs of attracting advertisers over time and grows the per user value of the ad space. As the ratio of premium users increases, ad revenue is thus kept at 65-68% of the total, reducing the reliance on attracting users to the premium product and their willingness to pay for it. By year 5, LifeBonder is projected to approach 2.2 billion DKK in revenue.
18 months ago, when seeking like-minded friends, Jesper realized no existing SoMe platforms offer match functionality on both compatibility and personality. For idea validation, we built a Facebook following - already 7000 strong. With app wireframes, UI Design and strategy complete, an MVP is now in development and funding is sought to marked the app. Investor feedback also makes it clear that our MVP is a prerequisite for private equity investment to fund our challenge: longer term AI programming and training.
Our current team consist of 35 + experts volunteering from all over the world (and still growing as we speak) and their competencies span all aspects for bringing an MVP to marked, which is planned to be launched in January 2021. Jesper Simonsen, CEO/CTO, has a long history of executing on bringing ideas to reality-a skill he fuses with a vast coding and project management capability from his startup experiences: CSR Intelligence/2005, Innocite/2008 & Loyalty Insight/2010. An expert in both frontend and backend, websites, wireframing, MS SQL, ETL, BI, mobile app dev and server infrastructure, Jesper oversees the project. Flemming Ubbesen, CMO, has built up expertise in effective low budget marketing and go-to-market strategy perfect for the startup environment. As head of Brand Division for a New York based software technology company in the SME field, Flemming has designed and implemented a budget restricted transformational rebranding effort and go-to-market strategy leading to new market entry for the firm. Mohammad Hasan, Project and Team Leader of 14 developers, is an expert Full Stack Developer with a bachelor and master’s degrees in computer science - and a degree in software dev. Each member commits a minimum of 55 hrs/week.
Er i følgende branche(r):