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Internet Entrepreneurship Course

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

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Internet Entrepreneurship Course

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  1. January 11, 2001 Giving e-customers what they want. Internet Entrepreneurship Course

  2. 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

  3. Manna’s Quest for the Platinum Appian Laurels

  4. 1997 – the Beginning SEA-Multimedia Ze’ev Rozov Tal Bar-Noah Gad Barnea The mission: online personalization solutions for e-commerce 0.5M$ Manna Inc.

  5. 1998 – Manna’s Technical Establishment Beta site

  6. 1999 – Manna Goes Global Dan Ross - CEO 3.7M$

  7. 1999 – Manna Goes Global Dan Ross - CEO FrontMind 1.1 Gary McMeekin, VP Professional Services VP sales Moni Manor VP – R&D Mike Murphy VP B-D Yoel Ratsaby AI group leader

  8. 2000 – Emerging Leader FrontMind 2.0 FrontMind 3.0 First important strategic alliance First clients 14.1M$

  9. 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

  10. 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

  11. 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

  12. 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

  13. FrontMindTM customer test interact website client Create update BCC server learn DB marketer Analyze/report

  14. FrontMind’s Inference & Learning

  15. 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

  16. 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.

  17. 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.

  18. Manna small company with technological advantage Market dominated by giants with comprehensive solutions Manna’s Business Strategy The Creation of Strategy

  19. 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.

  20. STRENGTHS WEAKNESSES • Market of giants • Long sales cycle • Best of breed • Technology • Management • Pioneers OPPORTUNITIES THREATS • M&A activity • Expanding market • Mature market • Funding & Revenues • Market shift • Privacy issues S.W.O.T

  21. Conclusion

  22. Questions?

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