Photo - Zeeon
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Zeeon

A metaverse for online events

Ukraine, Kyiv city
Market: Internet and IT, Culture, art, Entertainment, Virtual and Augmented Reality
Stage of the project: Prototype or product is ready

Date of last change: 24.01.2021
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Idea

An interactive 3-dimensional game for conferences, education, music shows at scale. People can enjoy a realistic social experience, by meeting old friends, discovering new ones, talking in private and in groups, viewing shows, and discovering locations together.

Current Status

We have an early MVP in place and are currently working to expand engagement features and scale for larger events. We don't have any clients at the moment.

Market

Our ICP for an early stage is an organizer of public speaking events around the IT/Technology/Innovation topics in North America and Europe. There are 2 reasons for considering this specific ICP:

1. Attendees of described conferences are the most likely to get engaged with a business tool that looks and feels like their beloved video games from childhood.

2. Public speaking events require just the basic features, while hackathons, music shows, etc will require additional functionality. Once we have a successful start with public speaking events, we can design Zeeon's platform for other events next.

Problem or Opportunity

Our clients are event organizers. We will focus on organizers of public speaking events in the early stage of the company, will later expand to organizers of hackathons and online education, then music shows, guests, and other entertainment events.

The problems we are solving:

1. Inability to organize offline events during the pandemics, and for many months after, as a great number of people will remain worried about attending mass gatherings.

2. Current video conferencing tools (such as Zoom) cannot provide any interaction or engagement. Attendees of video conferencing events are simply passive viewers.

3. Inability to scale offline events for more attendees.

Moreover, Zeeon is indeed a new technology and in a new market, which is still evolving. People want to hang out and imitate their real lives in virtual worlds, as seen by the success of Joe Biden's election campaign in the Animal Crossing game (https://www.foxnews.com/media/biden-campaign-animal-crossings-presence-pokemon), or by the success of multiple music shows in Fortnite (https://youtu.be/wYeFAlVC8qU).

Solution (product or service)

Zeeon is a tool to organize online events that look and feel realistic, establishing a higher level of engagement and various possibilities for users to discover Zeeon's virtual world even in-between various scheduled events. For a better idea of the product check 1-minute video demo https://youtu.be/DPuhj4bSXW8

Competitors

virbela.com
Raised $1.7M at the pre-revenue stage in 2013. Acquired by eXp World Holdings in 2018. Reported 260% revenue growth in the 2nd quarter of 2020 due to lockdown.

virtwayevents.com
Raised €4M in 2019. Operates primarily in Spain. Has a viable technology, but lacks business achievements.

wookey.com
Raised $3.4M to acquire Sansar in 2020. The latter had a nice virtual world but had several business and management issues. Their technology is limited to Windows devices only.

Advantages or differentiators

Most of our competitors, even those not listed above, have serious scalability and accessibility issues, are focused on event organizers, leaving visitor engagement and retention behind. Thanks to them, the market is validated. Due to COVID, the new players shall now rise and shine.

Finance

We are charging the event organizers $2-5/event attendee. With our server cost below $1.15 (with a great potential to lower that), we can maintain positive unit economics even at the early stage.

Business model

Zeeon will remain available as a project-based solution during the early stage, while the tech department builds a SaaS infrastructure. At that moment Zeeon will reach its highest potential to scale.

In regards to Channels, at the early stage, we will stick to Outbound and Social Selling. Once SaaS is ready - add new channels such as PR, SEM, Paid Social, Influencers, and SEO.

The primarily North Star metrics is the number of events attendees monthly.

Money will be spent on

50/50 to technology development and marketing

Offer for investor

We are offering a Convertible Note and/or Safe with an execution period of at least 1 year. Terms shall be discussed with an investor in private.

Team or Management

Risks

Neither competitors, nor, crisis, nor new technologies can lead to any risks to us, as we are a new technology that helps those businesses, who suffer during the current crisis.

The primary risk is facing scalability issues when too many attendees join the platform while our server isn't ready. We understand how to cope with that risk and will assure appropriate performance and load testing in advance.

Incubation/Acceleration programs accomplishment

Yes, Sampo Accelerator, Fall2020

Product Video

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Product Video