XcellR8 - September 11, 2014Nerac
One Technology Drive
Tolland, CT 00000
Thursday, September 11, 2014 8:00 AM - 9:00 AM
Burn is an early stage startup founded by Mark Donne and Kevin O'Flaherty. Mark's previous company diffr3nt sold Apple accessories. Kevin recently graduated from Stony Brook and sold his first entrepreneurial venture, an instructional web site on the Torque gaming engine, to ITT Tech while he was in high school. Both Mark and Kevin acknowledge that Burn is in a crowded space-- Geolocation based social networking geared towards creating instant social gatherings. Social Networking/messaging apps in the space include Flock, WiGo (Holy Cross in Worchester), Highlight, and even local favorite Shizzlr. Despite the crowded space Mark and Kevin believe they've found a unique formula that can get traction in the market.
The likelihood is someone will become dominant in this space at the crossroads of geolocation and social networking. Why not a Connecticut company?
At this stage Mark and Kevin need critical feedback on their interpretation of the problem and their problem/solution fit. Their current build plans call for an advertising based revenue model-- is this feasible? Is a revenue model even necessary for a company that's being built, essentially as an acquisition target for a larger social networking concern? Perhaps the biggest ask is: If you were a potential investor what would you have to see to provide Mark and Kevin with the angel investment needed to get off the ground?
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