Before I introduce a significant portion of the business model it is important to know that a prototype of WTF has been designed and is an important pitch tool.
Let’s be completely honest, we’ve all had this problem… knowing where to function (party) can be a tall task, knowing who’s there, what the atmosphere is like, what type of specials are going on, what genre of music is being played, and most importantly is this place worth your time and hard-earned money? These are all things we are Where’s The Function ask ourselves everyday when we are planning a day or night out. What if I told you that instead of walking into a place completely blind, we’ve created the app to cure this. WTF is the first app to solely focus on the party scene here in San Diego. Our goal is to allow users to plan their days based on what they are looking for. Whether you need help planning a day for you and friends, want to reconnect with people you missed from the night before, find where the locals’ hangout, or simply want to stop wasting time and money on places you don’t want to be
Vision for WTF
We believe that reinventing the way people go out to dinner, party, socialize, matchmake, and travel should all be under one roof. With just a couple of clicks you’ll see live action from where you want to go, you’ll be able to see who’s all there based on the activity feed, did you miss out on talking to the hot guy from last night? No worries, WTF will allow you to reconnect with that person once the night is over. Overall, the vision is simple, Where's The Function is designed to create long-term memorable relationships through travel and festivity. Helping the world reconnect with missed opportunities one night out at a time.
Revenue
WTF will generate substantially all of our revenue through:
-the sale of advertising products, which include WTF ads and sponsored creative tools, and advertising revenue.
-Our WTF ads might be subject to revenue sharing arrangements between us and the content partner.
-With WTF premium users will be able to search through and reconnect with users from multiple nights not just the night prior.
Value Proposition of Functioners (users)
1. Fastest way to know what’s going on around you: People value their time more than anything else in the world, we’ve created a product that will save you an abundance of time.
2. Best way to meet people you might have missed: Did you want to say hello to the lady at the end of the bar but ran out of time? No worries our ‘Fate’ page will alone you to reconnect with anyone that was also at that bar.
3. Express your party side: As we all know, partying in public can be taken away from us with the blind of an eye, so now let’s document it shamelessly
4. Have fun together: there is nothing better than having fun with loved ones and people you cherish but partying with like-minded people could also be just as fun. Have a favorite spot? Click on our heat map and see what new people you can meet.
5. Don’t want to go out: WTF allows users to create their own function. This feature allows users to add their functions name, location, time, directions, a checklist of goods needed and whether you want this function to be public or private.
6. Explore the top places: Curious to see with place is top rated in your area or even the area you plan on traveling to? We have a section sectionally for this topic.
7. Learn about your city: Learn about the new up and coming places that locals go to, learn about the black-owned businesses in your area, learn about a new sub-city within San Diego.
Value proposition for businesses
1. Customer segments: WTF will have a high penetration in the 18-55 year-old demographic. Advertising on WTF is an opportunity for many businesses to reach this audience
2. Native integration: WTF will do a great job of integrating ads quietly into our product. Ads can be part of the feed function, the story function, the ‘fate’ page, and the geo-filter function. It will translate into higher click-through rates, engagement, retention and conversation
3. Word-of-mouth: WTF has many features to support spreading of ads from user to user. Photos and videos taken with advertising lenses and filters can spread widely when they are perceived as fun. Live videos and incentives from businesses will go a long way
4. Ecommerce tools: with product catalogues and shopping features, WTF will definitely make early in-roads into the world of ecommerce
5. APIs: WTF will offer various ways of integration to various types businesses and create an ecosystem of interfacing apps