Azzumi

Company History: Azzumi Inc. is founded by a group of NYU undergraduate students and other contributors, who are passionate for success and want to revolutionize the social media and service sectors. The company's major and initial product, Azzumi will be launched in October 1, 2020. 

Vision: Fully digitizing the service sector & Becoming the most dominant online platform worldwide!

Mission: Azzumi is created with the intention of helping people truly socialize, extinguishing the necessity for being a member of an excessive amount of online platforms, getting rid of the negative effects of other social media applications, giving small businesses, operating in the service sector, the opportunity to grow!

Problem: Current social media platforms offer monotype features and are unable to bring value to people’s lives. Beyond this, most events are still organized in surprisingly primitive ways which require highly complex sets of measures.

Solution: Azzumi helps organizers and attendees communicate, offers convenient and profitable event managing tools, and a digitized social media platform for users to interact through live experiences and engage in the private event network around the Globe.

Product: Azzumi is the first online platform to combine social media & service sectors. It offers some common features, such as messaging and sharing posts, while making them more addictive. Beyond this, it allows event creation, management & enrollment for organizers and individuals. It gives a large amount of information to users, regarding the people whom they follow and who they subscribe to the same event with. By doing so, it helps users with similar tastes and preferences to meet with each other. Overall, with its detailed event management  capabilities, online tracking systems, digital tickets and enhanced social media specialities, it  leaves no room for primitive event management practices and monotype social media platforms.

Business Model:
Advertising:  A  typical  social  network  generates nearly 98% of its revenue from  advertising. In Azzumi's case, due to its  other functionalities, this is expected to be  approximately 90% in the long term.
Event Organizing: Azzumi, as it increases its  network, can directly collaborate with organizers in order to help them with their events and more.
Azzumi Events: When it gets sufficiently mature, Azzumi will create its own, slightly  exclusive events, with the intention of  increasing customer engagement and  revenues.
Lowest Commission Rates: An average of 8% commission rate is applied  to the ticket sales of event organizers. This  rate may be adjusted due to private  agreements with specific organizations.
Developer Contribution: Azzumi will  expand its community by allowing  developers to contribute to the platform in  return for a reasonable fees.
New Account Types: Starting from November 15, Azzumi wil begin to offer three different account types. One of them will be free and the other will contain special privileges which will be beneficial both to individuals and companies in the service sector and users will be able to subscribe by paying monthly fees of approximately 2 to 3 dollars.
Innovation: Azzumi, due to its nature, allows us to innovate, proceed with multiple paths and invest in many different areas.  Therefore, in the near future, we expect to  create even more types of revenue streams.

Pricing:
Azzumi provides the most enhanced, interesting and addictive social media features and event managing tools without charging anyone. The commission rates for events are 8% unless there is an agreement with Azzumi Inc. and a specific organizer. This is, by a considerably large margin, the lowest commission rate in the sector. For instance, Ticketmaster, one of major potential competitors, range around 15%. We accomplish this by being the only platform to combine service sector and social media. In other words, as our major source of revenue is online advertising, all commission fees which we will receive become of secondary importance. We have many other plans to create additional revenue streams. We are willing to invest in service sector directly. Moreover, we are planning to offer privileged accounts for both users and organizers which will give them many privileges, in return for approximately 2-3 dollars per month.

Why Us?: Azzumi revolutionizes the service sector by fully digitizing it and by offering 100% digitized ticket selling & purchasing. It offers a unique and fresh experience, allow users to engage with each other physically and virtually, help them discover the World. It combines and enhances numerous features, event management, messaging, social media and  more, extinguishes the necessity for an excessive amount of platforms. It makes it very easy for users to view and join all types of events around the Globe and therefore, allows people to truly socialize and meet with people having similar tastes.  Lastly, but most importantly, unlike other online platforms, Azzumi will always be proud of respecting user privacy.

Market:
Azzumi's expansion is divided into three steps and therefore, three major markets.
Colleges and Fraternities (>23M): There are 5300 colleges, only in the US. The number of students in the US and the UK are in excess of 23 million. These will potentially be the initial countries to adopt Azzumi.
Going After Official Organizers (>150M): The second step will be to extend Azzumi's popularity among enthusiastic, socially active and young people. This will be the stage at which, Azzumi will become indispensable. Other than the private events, our increasing popularity, lowest comission rates and other privileges will provide us the opportunity to start hosting all types of official events.
Becoming Worldwide (WORLD): Azzumi is naturally designed to become the most popular online platform in the World. As number of users and events increase, more people will continue to come. One advantage of Azzumi is that, due to its essence, it allows us to proceed with different paths and hence, easily attract people with different tastes, preferences and characteristics.

Competition: 
Azzumi is a unique platform and therefore, there is no alternative which may totally replace it. However, there are some platforms which target similar segments or have some features which are similar to Azzumi's. After all, Azzumi, despite the unique features that it contains, also puts together various features of its competitors, while enhancing them and making them more addictive and interesting. Overall, Azzumi's most important important competitors can be identified as Ticketmaster, Eventbrite and Instagram . 
Azzumi can surpass Ticketmaster as it  has highly powerful and interesting social media features. Moreover, Azzumi makes event searching and enrolling more practical and faster, offers enhanced event managing tools to organizers and has much lower commission rates compared to Tİcketmaster. However, a mutual collaboration between Azzumi Inc. and current ticketing companies can also arise in the near future as Azzumi can display and promote their events and thus, get more active users, while these companies can increase their sales while getting the commission rates for themselves.  
Azzumi can overtake Eventbrite because it has more detailed, enhanced and practical event managing features. Beyond this, Eventbrite is a simple event planning platform while Azzumi integrates social media into event planning and supports it with highly developed digital tools.
Lastly, Azzumi can beat Instagram as it is more engaging and meaningful than as it helps people to truly socialize and brings a new perspective to the social media sector.