Beta Byte is a series underwritten by Cushman & Wakefield/NorthMarq for that early stage tech found somewhere between idea and traction.
What is the name of the company and/or product? Where is it found online?
Cravi iPhone App URL: https://itunes.apple.com/us/app/cravi/id686296396?ls=1&mt=8
What problem does this solve? What was the “aha” moment?
Cravi is a social restaurant directory that’s all about the pictures you take in your favorite joints and hangouts. It’s the place to curate your foodie lifestyle with no distractions. Cravi captures the soul of a place in the world’s most epic visual restaurant directory. On Cravi you’ll find places you didn’t know about, exciting new restaurants and hidden gems.
Aha moment… Trying to figure out where to eat by reading a tortured restaurant review by Aunt Dust Bin.
What is the full launch/release date planned?
April 1, 2015
Who is on the team?
Mark Netsch, Founder & CEO
Steven Netsch, Founder & CIO
Jason Blood, Founder & CTO
Robert Bentley, iOS Engineer
Adlai Griffith, Software Engineer
Conrad Julian, Software Engineer
Lorenzo Lee, Software Engineer
What is the specific technology or combination of technologies is used?
What is the size/scope of your market and how will you scale?
The accessible market for Cravi is huge. If you doubt this fact, think about how many times you eat out in a typical week. And think about how many restaurants are near you right now. According to the National Restaurant Association there are about 980,000 restaurants in the United States, and restaurant sales are increasing at a rapid pace. Source: 2013 Restaurant Industry Pocket Fact Book provided by the National Restaurant Association.
What is your revenue model?
There are many paths to revenue for Cravi. We will begin with these sources:
1. Advertising with sponsored posts
2. Gift cards
3. Premium memberships
4. Online ordering affiliates
5. Embedded survey questions
What is your greatest strength?
It’s a completely unique concept that’s been very well-executed.
What is your biggest weakness?
We’re playing in a competitive marketplace
What is one resource you could use that would take this to the next level?
Cash for business development with restaurant partners, to drive users to the site, to further build out the iOS and begin dev on Android
Is there anything else you would like to add?
Many restaurant chains have agreed to partner with us as we launch Cravi. The industry is starving for a visual, social medium to drive engagement and put butts in the seats. The Cravi architects are foodies, restaurant researchers and consultants.
We envision a massive hospitality ecosystem that values operators as well as consumers. Unlike other platforms, we intend to partner with both groups. We have a very well-executed product with over 100,000 venues and nearly half a million images in our database. We have developed proprietary software to build our restaurant database with precise data from every location in North America acquiring up to ten images per location depending on availability.