Photo - FRIDANCE Immersive
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FRIDANCE Immersive

Russia, Krasnodar region
Market: Culture, art, Entertainment, Tourism, sport, Virtual and Augmented Reality, Mobile applications
Stage of the project: Idea or something is already done

Date of last change: 17.07.2019
Min investment
$  200.000
Show contacts
Total required
$ 2.000.000
Rating
equalizer 33 из 1000
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Idea

FRIDANCE is a tool for event organizers to earn money from what they love to do with a cloud-based platform for the development of location-based, AR-ready, immersive audio performances with integrated dating, ticket, and e-commerce systems in one ecosystem. With dating service, users can get closer to someone after meeting in a real life and only if their sympathy match.

Current Status

FRIDANCE - is an evolutional product. We start to develop FRIDANCE as a tool for the improvement of and cost optimization of MYCITYVOICE project that our team launched in 2016. MYCITYVOICE is an immersive walk in 8 cities with more than 15 audio performances that take place on the city's streets. Current status: core server software is developed and investment needed to add functionality, develop user apps and start marketing.

Market

Market Validation:
We are not in direct competition with dating services nor event organizers.
Our main competitors are event planning and ticket sales platforms.
The market is big:
• Revenue in the Event Tickets segment amounts to US$73,424m in 2019.
• Revenue is expected to show an annual growth rate (CAGR
2019-2023) of 9.4%, resulting in a market volume of US$105,359m by
2023.
• The market's largest segment is Music Events with a market volume
of • US$34,410m in 2019.
• In global comparison, most revenue is generated in the United States (US$30,579m in 2019).

Problem or Opportunity

1. Start-up expenses to run performances are reasonable high and processes are complicated.
2. Noise is restricted in some places and annoying neighbors.
3. Millennials and youngsters are looking for a new way of entertainment, old-fashioned shows are too tight for them.
4. With all online dating services, you can never be sure who is behind the shiny profile picture. Make a date and pray.

Solution (product or service)

1. The ecosystem for all performance ideas: creating, ticketing, event holding, CRM, legal.
2. Using headphones and smartphones owned by users saves tons of money.
3. Drop the chains. Performance can be conducted everywhere: in the streets, in the shopping mall, building roof, forest, club etc.
4. Meet first before you date. At least you have one thing in common already - FRIDANCE brought you together in one place and gave you a key.

Competitors

Eventbrite
Getyourgide
Google Shoelace

Advantages or differentiators

Competitive advantages:
• Marketplace for event organizers and a tool for creation AR Ready immersive
performances as simple as drag&drop.
• Built-in ticket, e-commerce and rights & catalog management system.
• New dating: meet offline first and build your relation online only if your sympathy match.
• The platform fits both B2C and B2B market’s needs. If the high-quality sound is required, the limit for noise is set, need a wireless solution for any location - FRIDANCE is for you.

Finance

Funding request:
$2.000.000 for 20% share
($180.000 MVP and hypotheses testing)
Use of Proceeds:
●App and Technology Development
●Start content development
●Marketing
●Employment
Forecast:
Total Installs Y2 - 6.500.000
Total Active Users Y2 - 800.000
ARPU - $28
CAC - $18
LTV - $149
Total incomes Y1 - $2.200.000
Total incomes Y2 - $170.000.000
Total incomes Y3 - $292.000.000
Investor’s profit:
Grow up in 24 mon
$8.000.000 for 20% share

Business model

Ticket sales, subscription to built-in services, merchandise sales

Money will be spent on

Technology and app development, start content, marketing, employment

Team or Management

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Idea
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