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SpeakBout

SpeakBout

A social networking website, offers the CHOICE of anonymity. Encourages users to share their creative side.

Project Cost: RM1,010,000.00

Amount Invested : RM10,000.00

Amount Required : RM1,000,000.00

Knowledge / Experience Required:
general management
strategy
finance
sale & marketing
internationalisation

Proposed Investor’s Role:
part-time
as mentor
as consultant

Industry:
informatics / multimedia
internet

Company Current Status: Pre-Revenue

EXECUTIVE SUMMARY:

Company History:

The Project Leader and the Financial Head of this team is Shameez Azad, from Fiji Islands. He came up with the basic idea of SpeakBout and has knowledge of programming. Md Mahbubul Alam from Bangladesh has completed his Finance and Marketing Bachelors at University Malaya.
Charlene Woodford from Malaysia. Has experience working in customer relationship departments in different companies over the past ten (10) years, five (5) of which were as the lead project manager/team leader in various companies. Came up with other aspects of SpeakBout

Product / Service Description:

A social networking website, offers the CHOICE of anonymity. Encourages users to share their creative side.

Business Opportunity:

Unable to express their true feelings or thoughts because they fear no one will understand. They seek out websites that help them do so anonymously. This is an issue of safety – especially with the younger age group, they seek people who show them they are understood, build connections with these people even though they may not be what they seem. We want to discourage them from seeking help elsewhere, by offering the CHOICE of Anonymity, SpeakBout allows these users to seek help from family & friends instead. Offering a safer environment and hopefully opening up line of coomuniaion.
This site also help the more creative of the target market, by making it easier for them to express their individuality without the hassle of promoting their sites. Our target market are teenagers & young adults: Ages 13-30

Revenue Model:

For now we are looking at advertising on the website as a form of generating revenue using the Cost Per Mile (CPM) method.

Management Team:

Shameez Azad, has knowledge of programming and will be overseeing the programming aspect of SpeakBout. Administrative & Operations section will be handled by Charlene Woodford to ensure that the project is running smoothly. Both Md Mahbubul Alam & Charlene Woodford will work hand in hand to intertwine the costing, revenue and marketing of this project.

Current Status:

We have just launched BETA version of the site. Due to inadequate funding we are unable to provide more features like photo album etc.
To keep the site running, we’d need to hire programmers etc. We require funding of around RM1,000,00.00 to last us 1 year.

Funding Milestone: Initial Expense – (700,000.00)

** For the next phases, expenses will be paid using the RM500,000.00 from the paid up capital and the balance RM100,00.00 from the initial investment.

Business Valuation: we are willing to offer 10%-15% stake.

Expected Return On Investment: n/a

Investment Risk and Mitigation: Situational Analysis.

Strengths –
1) SpeakBout is the only site to bridge the gap between Anonymous Networking sites and Open Networking sites.
2) SpeakBout is the only site that offers its users not only a Social Networking platform but a Social Media one as well.
3) Easy to use friendly user interface and features.
4) In house expertise in terms of programming.
5) Dedicated management team.

Weakness –
1) Lack of financial backing for project growth.
2) Moderately experienced management team.
3) Lack of revenue earning options.

Opportunities –
1) The market is ready as no one has provided this customer convenience in social networking.
2) Social networking is an ever growing market. For example: Whisper which launched in March 2012 has already nearly 3 billion page-views. Facebook which was founded February 4, has now 1.28 billion monthly active users and is still growing.
3) Third party information sharing is a topical concern for user which SpeakBout guarantees not to do.

Threats –
1) Legal concerns regarding anonymous posts. SpeakBout will be assisting in legal matters such as harassments made anonymously.
2) Website hacking. This will be mitigated through the use of MD5 password and database encryption.

Exit Strategies:

Our team has come up with two possible exit strategies. The first would be to sell the company to a larger entity at a significant premium. Since, the social networking industries maintains a very low risk profile once it is established. The second scenario would entail selling a portion of the company via the initial public offering (IPO).

CONTACT PERSON

Charlene Woodford
Company Name: SpeakBout
Postal Address : c-3a-2, garden@one south, taman srdang perdana, seksyen 6,
State : Seri Kembangan
Post Code : 43300
Country : Malaysia
Telephone : +601126646221
Website : www.speakbout.com