Ed: Mmm not sure I fall into this demographic (not sure I ever did), the days of spending $5000 to reserve a cabana at a Nightclub seem to have passed me by.
I’m sure this is a problem for someone but its a very 1st world hipster problem and frankly I have seen 3 of them out one local University alone in the last year so I imagine the numbers in the US are similar.
Sadly some of the best minds of a generation are wasted on this sort of thing when they could be doing something like curing cancer, purifying water, eliminating diabetes, improving food production or something the people of the world actually need.
Sorry guys it’s a nice looking app but I think you need to find a better problem to solve.
|Startup Name|| |
|What problem are you solving?||Going through traditional nightclub promoters to get pricing and reservations to night clubs.|
|What is your solution?||Discotech is a free to download mobile app that allows users to browse events, reserve bottle service, purchase pre-sale tickets, and sign up for guest list at nightlife venues in different cities.|
|Target Market||Anyone 21+ who is interested in attending a nightclub or day club|
|How will you make money?||Our existing revenue model is commission driven. For bottle service, we make commission on gross sales before tax and tip. For pre-sale tickets, we charge the end user a service fee for handling the transaction. For guest list, the venue pays us a bounty per customer that we send to the venue.|
|Tell us about the market & founders, why is this a great opportunity?||The nightlife market is about $4B in the United States, and $20Bworld wide. It iscurrently dominated by traditional nightlife promoters, who make up over 95% of the space. Traditional nightlife promoters are usually justindividuals who have a smart phone and they leverage their existing networks to generate traffic to nightlife venues. These promoters are ripe for disruption in the same way that travel agents were ready to be disrupted by companies like Kayak or Priceline.com. The nightlife industry also have exorbitant margins (they make over 95% gross margin on the sale of alcohol at their venues. i.e, they sell a $20 bottle of liquor for $500). Clubs, like hotels, are focused on maximizing top line and are willing to pay large commissions since their profit margins are so great.The 3 Discotech Founders are all UC Berkeley graduates from the class of 2008. The CEO is a former Private Equity Associate / Management Consultant at Bain & Company. The COO/CMO spent 5 years at Zoosk (online dating company) and was a senior manager for marketing and user acquisition. The CTO is a full stack developer who was an early employee of the now public Ambarella.|
|Founders Names||Ian Chen, Mark Wu, Ian Bushong|
|Founders Email||[email protected], [email protected]|
|What type of funding has the company received?||Angel|