InVintory

The future of wine collecting.

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InVintory is a digital platform that takes all the work out of managing a wine collection and reconnects collectors to a simple truth: wine is more than a drink; it is an experience.

To date, we've released a wine collecting platform (iOS and web app) fueled by patent-pending bottle-finding technology.  In May 2021, we released a paid in-app subscription, called Prestige, which currently generates about $300,000 in ARR from 2300 subscribers. We're about to take our next step, responding to repeated requests from our high net-worth userbase of collectors to offer a full-service cellar management system. We will shortly launch a white glove, 3D cellar reconstruction service whereby we will build entire 3D replicas of client cellars to spec, based on CAD drawings or photos. This service will come with a dedicated iPad app that will attach to the cellar wall and will have an IoT integration using sensors to track cellar data such as temperature and humidity.. Having established partnerships with cellar builders/managers, we have a pipeline of 30 projects already in place for the remainder of 2022, each averaging $1500 in set-up, plus an ongoing subscription for the iPad app. With the free app, in-app subscription, and then the custom 3D service, we will offer a full product suite to serve every North American wine collector, regardless of stage in their collecting journey.

Traction to Date:
  1. Released native iOS and web apps targeting wine collectors, which have been on the market for approximately 2 years
    1. 55,000 total users
  2. Launched paid subscription (in-app), Prestige in May 2021, at $9.99/month or $99/year
    1. 2300 paying subscribers
    2. $300,000 ARR
      1. Average monthly ARR growth: 33% (slowed in past month as we've reined in marketing to conserve cash)
    3. Includes patent-pending VinLocate technology to find bottles at the tap of a button in a 3D cellar or fridge. 
  3. 4.7 average star rating in >1500 reviews on the App Store
Upcoming Product Roadmap:
  1. White glove custom 3D cellars service (launch: Nov/Dec 2022)
    1. Bespoke 3D reconstructions of client cellars, with a dedicated cellar-mounted iPad for simple management.
      1. Planned IoT integration with sensors to track temperature, humidity, vibration, etc..
    2. Distributed via cellar builders and managers (5 partnerships already feeding our pipeline).
      1. Current order pipeline: 30 cellars; average price per cellar: $1500.
    3. Additional service offering to physically onboard collections into the platform, leveraging our network of sommeliers
      1. We already have an ability to automatically ingest spreadsheets, but will offer this service for clients who do not yet track collections.
  2. Expansion of Prestige (Oct 2022)
    1. Evolution from product-based offering to a benefits-based offering (e.g. a $50 credit towards wine on Wine Access, a leading online retailer) to enhance appeal and attract a broader collector audience.
  3. Groups (Sep 2022)
    1. Social feature to facilitate engagement and create a “growth hack” within the product itself, as collectors invite their wine friends to the platform.

Business Model:
  1. Two revenue streams
    1. Non-recurring: High revenue custom 3D cellars product, built bespoke to each client
    2. Recurring: in-app subscription
      1. Prestige: existing subscription for collectors of any stage to unlock myriad features including market values, VinLocate tech, transit list, and partner benefits, such as discounts on wine and discounts on wine insurance.
      2. Cellar tier: recurring revenue for IoT integration and other iPad features that pair with the 3D cellars product
    3. Freemium model in-app to engage budding collectors and enthusiasts in the free tier and build them into collectors over time.

Market Size/Customer:
  1. Target customer: North American wine collectors
    1. High net-worth individuals; high willingness to pay
  2. Number of wine cellars in North American (TAM for white glove 3D cellars product)
    1. Est. 500,000 (approx 3M wine cellars in US in total, but to maintain a conservative estimate we discount this heavily and assume only a small proportion are candidates for our 3D cellar product).
    2. Potential revenue if we construct 30,000 cellars: $45M revenue, plus ARR from iPad subscription
  3. Size of North American collector market (overall TAM for InVIntory's platform)
    1. Est. 20M wine collectors at varying stages in their collecting journey (some just getting started with a small fridge, some with large collections, but all with a strong passion for wine.)
    2. Potential ARR if we capture 2M total users and 160,000 paying subscribers (maintains ratio of paying to free users): $16M ARR

Team: 
  1. Co-founder and CEO Jeff Daiter
    1. Medical physician who built a  network of over 90 clinics
    2. 2x founder and CEO
    3. $100M exit to PE
    4. Invested $3M into InVintory to date
    5. Wine enthusiast and collector
  2. Co-founder and CPO Josh Daiter
    1. Dual Master's in AI and Entrepreneurship
    2. Computer engineer and software developer
    3. Wine enthusiast
  3. COO Yule Schmidt
    1. MBA, University of Toronto (top 5 graduate, focus on finance/investment banking)
    2. 10 years strategy/operations background
    3. Wine expert
  4. CTO Sam Finan
    1. 6 years startup experience leading teams
    2. Wine enthusiast and collector

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