Competitive Intelligence for Investors
April Kessler • Chief Research Analyst
Lindsey Schell • Chief of Business Development
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Why Competitive Intelligence?
● Due diligence
● Business research
● What are you investing in?
● Overall Market
● Who are you investing in?
● New Verticals/Customers
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Business Research Basics
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Proxy Company
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Public Company
Competitors
Same Industry
Same Customers
Same Monetization
Source: FreeImages.com
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Public Company
Investor Relations
● Annual reports
● SEC filings
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10K
10Q
8K
S1
Proxy
● Earnings/Conference calls
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SWOT
● OT = Industry Wide
● Weaknesses = Niche
Source: Whole Foods Market Inc., SWOT Analysis, Marketline, April 1, 2015
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Industry Overview
● Fitbit
o Diet
o Gyms
o Pedometers
Source: Fitbit Initiating, Dougherty & Company, June 17, 2015
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TAM/SAM/SOM
Source:LivePlan.com
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Total Addressable Market
Source: Salesforce, Dreamforce 2013 Conference
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Legal, Social and Political
● New Tax Laws
○ Medical Device Tax (Section 4191, IRS Code)
● Regulatory Concerns
○ Local short term rental regulations HomeAway & AirBNB
● SEC rulings
○ Accredited Investors
● Justice Department
○ Monopoly enforcement on Bazaarvoice acquisition
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Team
● Exec Bios
● Backgrounds
● History
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Customers
● Jet Owners
● Luxury Market
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o
art
o
travel
o
jewelry
Competitors
Direct
Indirect
Substitute
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Funding
M&A
IPO
Financial Advisors
Legal Advisors
Customers
Exec Bios
Competitors
● Gartner’s “Magic Quadrant”
● Search online
● Create your own based on
market research
Source: Gartner, 2014
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Market Maps
Source: Forbes.com
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Funding
● Intersection of
Tech & Sports
● Funding
● VCs interested
Source: Crunchbase
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Licensed Resources
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Free Resources
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Crunchbase
PwC MoneyTree
FormDs.com
Thomasnet.com
Indeed Job Postings
● Freemium
o BizJournals
o Statista
o eMarketer
$
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Social Media
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Facebook
Linkedin
Twitter
HootSuite
Twitonomy
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Associations
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For any industry
Market research
Surveys
Free and pay
Forums
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For any industry
Market research
Surveys
Free
Source: Stack Overflow
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Google
Search
Strategies
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Google News
Google Alerts
Site:gov
Filetype:ppt/pdf/xls
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Proxy Company
Source: Wayfair, Initiating Coverage, Goldman Sachs, October 2014
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Markets - Home Goods
● Furniture &
Home Goods
● eCommerce
● Shared Economy
Source: Wayfair, Initiating Coverage, Goldman Sachs, October 2014
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Markets - Home Goods
Source: Wayfair, Initiating Coverage, Goldman Sachs, October 2014
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Markets - Sharing Economy
Source: FastCompany
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Markets - eCommerce
Source: CB Insights
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Customers
● Online Furniture
● Growing Cities
● Home Construction
Source: Wayfair, Initiating Coverage, Wedbush Securities, October 2014
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Customers
Source: AMERICAN MILLENNIALS: Deciphering the Enigma Generation, Barkley Research
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Competitors
Source: Crunchbase
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Adjacent
● Pinterest
● Ad Placement
Source: Digital Information World
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Q&A
Lindsey Schell
Chief of Business Development
lindsey@bizologie.com
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