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Widget Inc. Board MeetingJanuary 1, 2013
Widget Inc. HQ NYCConfidential
1
Agenda1 Official Board Business 9:00 AM 15 min
2 December Summary 9:15 AM 30 min
3 Functional Updates (Product, Sales & BD, Team) 9:45 AM 30 min
4 Financials 10:15 AM 15 min
5 Strategic Discussions 10:30 AM 1.5 hours
6 Close / Director’s Session 12:00 PM
2
OFFICIAL BOARD BUSINESS
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Official Board Business• Approval of
previous minutes (NYC: Dec 1st, 2012)
• Review and approve new employee stock grants
• Next meeting Feb 5th, 10am ET in NYC
Salary(range)
Options(range) Fully Diluted %
Total Pool Size -- 1,000,000 10%
Allocated to Date -- 100,000 1%
New Grants
John Smith - Developer
$90k($80k - $100k)
45k(40k - 50k)
0.45%(0.4% - 0.5%)
Sarah Brown - Designer
$110k($70k - $90k)
40k(60k – 70k)
0.4%(0.6% - 0.7%)
Total $200k 85k 0.85%
Remaining Unallocated -- 815,000 8.15%
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December Summary
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December SummaryProduct Sales & BD Tech Marketing
Exceeding
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Key MetricsPrev Month Curr Month Projected Next
Month Notes
Engagement
# Active Users 100,000 (30% ) 135,000 (3% ) 180,000
# Social Referrals 40,000 (4% ) 60,000 (3% ) 80,000Produ
ct/Tech Queries / Sec 800 (15% ) 900 (23% ) 1,000
# Users of X 33,000 (2% ) 39,000 (8% ) 45,000Financ
ialsRevenue $100,000 (30% ) $129,000 (5% ) $80,000
Net Burn $200,000 (5% ) $210,000 (11% ) $185,000
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UPDATES
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Product
Research initial platform to support
Enable Registration Launch User Profiles Responsive DesignIE, Chrome, FF
Mob
ile iOS BugsLandscape mode, random
crashes
Jan Feb Mar Apr
Limited AlphaDeploy app to curated list of testers, collect feedback &
iterate
Deploy iOS appRelease in app store
Build app Deploy
Web
Desk
top
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Sales & BDExpected Timing
$ Amt Probability Expected Value
Notes
Segment 1•Google•Yahoo•Bing
•Q2•Q3•Q4
•$1m•$200k•$100k
•10%•90%•10%
• $100k• $180k• $10k
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Segment 2•Nascar•NBA
•Q4•Q2
•$200k•$100k
•60%•30%
• $120k• $30k
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Total $1.6m $440kLorem ipsum dolor sit amet, consectetur adipiscing elit. Aenean laoreet aliquet quam.
10% - Initial Contact30% - Trial60% - Contract Sent90% - Contract in Legal Review
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Organization ChartCEO
CTO
Engineering
Engineer 1
Engineer 2
QA
VP Sales VP Marketing
Office Manager
New HireFuture Hire
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Staffing Plan (by priority)Position Status Hire By Date Target Salary Target Equity
X Sourcing ASAP $50,000 - $70,000 .1% - .2%
X Interviewing ASAP $100,000 - $130,000 .1% - .15%
X Offer out Q4 $65,000 - $72,000 .09% - .12%
X Negotiating Q4 $140,000 - $200,000 .05% - .8%
X Interviewing Q1, 2013 $120,000 - $150,000 .01% - .05%
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STRATEGIC DISCUSSIONS
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Discussion• How do we grow our business?• What are the milestones for the next
financing round?• Should we forge a partnership with
competitor x?• Things keeping you up at night?• [Board Member Name] - What should be
our go-to-market for X?
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FINANCIALS
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FinancialsDec ‘12 Actual Dec ‘12
Projected Delta Notes
Revenue $20k $10k $10kPraesent quis dui
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Gross Profit $5k $4k $1kPraesent quis dui
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Gross Burn $100k $60k $40kPraesent quis dui
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Net Burn $80k $30k $50kPraesent quis dui
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Cash Balance $500k $600k $100kPraesent quis dui
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Cash Out Date Jun ‘14 Sep ’14 3 monthsPraesent quis dui
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ASKS
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Asks• Help with recruiting• Intro to ...
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APPENDIX
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Cash Waterfall
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Revenue Waterfall
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Op Ex Waterfall
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Conversion Funnel25,000
15%
10%
4%
Actual Target Notes
Visitors
View Product Page
Add To Cart
Purchase
35,000 Increase Adwords spend
25% A/B testing HP and other lead-in pages
15% Implement AJAX
6% Enable purchasing without registration
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Marketing FunnelAdwords, Misc CPC Direct Emails, PR Meetups, Conferences FB / Twitter TOTALS
Costs $90,000 $50,000 $3,000 $40,000 $183,000
Leads 16,000 10,000 100 3,300 29,400
Closed Deals (conversions) 2,000 800 55 89 2,944
CPL $6 $5 $30 $12 $6
CAC $45 $63 $55 $449 $62
MRR $60,000 $4,400 $300 $9,000 $73,700
Rev / Customer $30 $6 $5 $101 $25
LTV (12 mths) $360 $66 $65 $1,213 $300
LTV / CAC 8.0x 1.1x 1.2x 2.7x 4.8x
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