internet entrepreneurship course
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January 11, 2001. Giving e-customers what they want. Internet Entrepreneurship Course. Presentation - Overview. Manna’s quest for the Platinum Appian Laurels Online Personalization – the Need Current Personalization Solutions FrontMind – Manna’s personalization solution - PowerPoint PPT PresentationTRANSCRIPT
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Internet Entrepreneurship CourseJanuary 11, 2001
Giving e-customers what they want.
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Presentation - Overview
Manna’s quest for the Platinum Appian Laurels
Online Personalization – the Need
Current Personalization Solutions
FrontMind – Manna’s personalization solution
Manna – the Financial View
The Personalization Market
Manna business strategy
S.W.O.T analysis
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Manna’s Quest for the Platinum Appian Laurels
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1997 – the Beginning
Gad Barnea
Tal Bar-NoahZe’ev Rozov
SEA-Multimedia
Manna Inc.
0.5M$The mission:
online personalization solutions for e-commerce
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1998 – Manna’s Technical Establishment
Beta site
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1999 – Manna Goes Global
3.7M$
Dan Ross - CEO
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1999 – Manna Goes Global
FrontMind 1.1
Yoel Ratsaby
AI group leader
Dan Ross - CEO
Moni Manor
VP – R&D
VP sales
Gary McMeekin, VP Professional Services
Mike Murphy VP B-D
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14.1M$
2000 – Emerging Leader
FrontMind 2.0
First clients
FrontMind 3.0
First important strategic alliance
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Online Personalization – the Need
Marketer requirements
•Useful Online learning, inference & response
•Attract broader audience
•Enable the marketing of many diverse products
•Learn from a variety of client-data sources
•Feedback to marketers on the performance of their personalized campaigns
•Pre- campaign simulation capabilities
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Online Personalization – the Need
Customer requirements
•1-to-1– shopping experience
•Save costumer time
•Site easy to use
•Prevent customers surfing frustration
•Avoid customers questioning hassle
•Respect customers privacy
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Current Personalization Solutions
•Setting business rules
use if… then… conditioning that capture business knowledge
•Collaborative filtering
Personalize the site for the client using knowledge on similar cliental
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Shortcomings of the Current Personalization Solutions
•Significant amounts of upfront information from customer are needed
•Rules require tedious work and constant maintenance
•No online results
•Lack of feedback and simulation capabilities
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FrontMindTM
clientCreate
update
marketer
customer
learn
Analyze/report
interacttest
BCC server
DB
website
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FrontMind’s Inference & Learning
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The Technology Enabling the FrontMind Solution
Two algorithmic approaches enabling FrontMind:
•Statistical inference using Bayesian Networks
•The FrontMind Federation of Agents
Advantages:
•Integration of rules and statistical inference
•Online learning, inference & response
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Manna’s Capital Funding
1997 – $500,000 received from private investors.
1999 - $3.7 million from venture capital funds advent (international) and Gemini (Israeli). Company value - $10 million after money.
2000 - $14.1 million from lead investor IDG ventures, Robertson Stephens' Bayview investors, advent international, Gemini capital management fund, Apax partners and Bluewater capital management.
Revenue model – $250,000 pricing for improved conversion rate & decreased shopping cart abandonment.
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Market Analysis
• Growing e-commerce market, expected $3 trillion by 2003.
• Personalization plays a major role in the e-commerce market.
• Competition: Broadvision, NetPerceptions etc.– Comprehensive solution.– World of consolidation.
• Current NASDAQ situation.– Fewer small customers, tougher competition
over larger and more prominent customers.– More M&A, harder to survive.
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The Creation of Strategy
Market
dominated by giants with comprehensive
solutions
Manna
small company with technological
advantage
Manna’s Business Strategy
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Manna’s Business Strategy
• Best-of-breed solution
• Hand picking your customers:– Tougher competition.– Having to integrate Front Mind into a
competitor’s comprehensive solution.
• Emphasis on alliances & partnerships.
Our personal assessment: Manna’s strategy is to build value and market proven
technology in order to be sold to a provider of a comprehensive solution.
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S.W.O.T
OPPORTUNITIES M&A activity Expanding market Mature market
STRENGTHS Technology Management Pioneers
WEAKNESSES Market of giants Long sales cycle Best of breed
THREATS Funding & Revenues Market shift Privacy issues
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Conclusion
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Questions?