What is Kippy?

30/10/2013

What is Kippy?

Kippy Pet is a GPS tracker for dogs, cats and all types of pets.

Thanks to the three tracking technologies GPS, LBS and Smart Reckoning, Kippy reveals the posotion of your pet and it communicates it to your smartphone, computer and tablet via the Kippy application.

Kippy is small and created for all types of cats and dogs; it is easily attached and detached from the pet's collar and fits comfortably on the pet.

Click to watch the video

BUSINESS DESCRIPTION: TRACK RECORD

JELLYFISH

Jellyfish is a creative agency specialized in Cross Media Advertising that was born from the passion for new media and communication.

2011: Abcrea buys Obweb in order to create a fully integrated service that delivers cross media communication of an elevated quality.

2012: From the fusion of the two companies Jellyfish is born; a new generation creative agency that offers innovative projects and solutions.

MANAGEMENT

Simone Sangiorgi: Modern literature graduate who progressively specialized in communication and eventually achieved a post graduate diploma in Strategic Marketing with special focus on department stores. Simone has gained experience in marketing and communication since 1999 when he first worked as a Strategic Planner for Artefice

Group, and later as managing director for Abcrea, and now from his work as president of Obweb and general manager of Jellyfish. He has been a marketing consultant for companies like Coca Cola, Heineken and Henkel.

Marco Brunetti: Active in the communications sector since 2000, first in Abcrea and later as president of Jellyfish.

Marco was also a board member of the Italian federation for young employers, Confindustria, in Monza and Brianza between 2007 and 2010. He works daily with clients such as Guess, Milan AC and RCS.

ABCREA 100%

OBWEB 80%

Milan AC, RCS, Guess, H3G,

EA Sport, Disney

TURNOVER 2,1 MILLION

Utenti internet web

22,8 mln

EVOLVE 10%

Pinko, Miss Sixty, Alessi, Colmar,

Murphy&Nye

TURNOVER 7,1 MILLION

THE RIGHT MOMENT

Smart phone Penetration (% of users of cellular phones) in EU5

Total users 130.000.000

October 2012 vs. October 2011

EU5

SPAIN

UK

FRANCE

ITALY

GERMANY

OCTOBER ‘11

41.6%

48.4%

48.1 %

38.1 %

42.1 %

34.2 %

EU5

OCTOBER ‘12

54.6%

63.2%

62.3%

51.4%

51.2%

48.4%

EU5

DIFF.%

13

14.8

14.2

13.3

9.1

14.2

Fonte: Com Score nov 2012

POTENTIAL MARKET

ITALY

FRANCE

GERMANY

UK

SPAIN

POLAND

POP. DOGS

7 M

7,6 M

5,3 M

8 M

4,7 M

7,3 M

POP. CATS

7,4 M

11 M

8,2 M

8 M

3,3 M

5,6 M

Fonte: Fediaf 2010

MVP: WEB PAGE & RESULT OF PRE-ORDERS

FACEBOOK

GOOGLE

COST

€ 321,61

€ 301,56

CLICK CONVERSIONS

35

15

COST/CONV

(1 per CLICK)

€ 9,19

€ 20,10

CONVERSION RATE

(1 per CLIC)

€ 623,17 2709 50 € 12,46 1,85%

Results from Adwords and Facebook conversions of the pre-order of Kippy in the period January 2013 - February

2013. Pre-order was possible through a small down payment with a credit card, with a promised delivery of the product in June 2013.

A TRULY IMPRESSIVE RESULT THAT IS THREE TIMES LARGER THAN

AVERAGE ONLINE CONVERSION NUMBERS FOR WELL-KNOWN BRANDS

WITH IMMEDIATE DELIVERY OF PRODUCTS

ZOOMARK INTERNATIONAL 2013

INTERNATIONAL FAIR FOR ANIMAL PRODUCTS AND ACCESSORIES WITH MORE THAN 20.000 VISITORS

RESULT: 70 FOREIGN DISTRIBUTORS FROM 25 COUNTRIES

RESULT: MORE THAN 150 SHOPS IN ITALY

POTENTIAL MARKETS FOR FURTHER DEVELOPMENTS

OF THE PRODUCT

Graph 1: Distribution of cars, children and people with Alzheimer’s in Europe and Italy 2011 – numbers in millions

16 MILIONS BABIES IN EUROPE BETWEEN 3-6 YEARS OLD. 5 MILIONS NEW CONSUMERS EVERY YEAR.

6 MILION ILL WITH ALZHEIMER IN EUROPE. AUMENTING NEXT YEARS

The extension of Kippy into other markets is possible thanks to its wide range of usage

The market for Kid is interesting, especially after numerous requests in the test phase online;

The Health market will be approached in the future but remains very interesting in terms of volume and lack of

competition.

THE PRODUCT: DESIGN

THE PRODUCT: DESIGN

THE PRODUCT: DESIGN

THE PRODUCT: DESIGN

THE PRODUCT: DESIGN SPECIAL EDITIONS

THE APPLICATION

THE PRODUCT: THE APP

STRENGTHS OF THE APPLICATION

We are developing an application with various functions that are unique on the market for tracking. It will in the future also allow the user to track

(by payment) mobile devices other than Kippy.

Good user experience

For Apple and Android

Dynamic tracking possibilities

Responsive design for web application (multiple platsforms)

Possibility to add photos of tracked objects

Possibility to track mobile devices other than Kippy

Virtual fences

Push notifications

Works in background mode

Various user modes

THE APP: MARKET FOR APPLICATIONS - AN OPPORTUNITY

ITALY, UNITED KINGDOM, GERMANY, FRANCE AND SPAIN

September 2012 : 790 million applications for

Android and iOs downloaded

+143% compared to beginning of the year

MOBILE APP REVENUE 2012

(including in-app, pay-per-download, advertising)

2012 $ 8.5 billions

FORECAST MOBILE APP REVENUE 2016

2016 $46 billions

A GREAT OPPORTUNITY FOR AN APPLICATION THAT IS ALREADY FULLY DEVELOPED

AND THAT WOULD POSITION ITSELF AT THE TOP OF APPLICATIONS FOR TRACKING.

CHARACTERISTICS

20 days

THE PRODUCT: TECHNOLOGY

User Modes

1. Default mode:

The Kippy device does not perform any activity other than remain connected to the GSM network (it does not control its position or communicate it). In cases of emergency it is possible to send a “wake up” SMS directly from the app, to activate the device that then begins to control its position and communicate it via the GPRS network at predetermined intervals such as every 30 seconds. (Battery life GSM network 13 days)

2. Geofence:

The user creates a virtual fence which is memorized by the Kippy device, if Kippy exists the defined area a push notification will be sent to the user. When Kippy is inside of the defined area it does not connect regularly to GPS so battery life is extended. (Battery life 19 days)

3. Fast Tracking:

Tracking via GPS is activated and Kippy updates its position every 7” to 15” seconds. This mode exists for situations of emergency, it is activated automatically when Kippy exists the virtual fence or when a “wake up” SMS is sent.

ADVANTAGES

Significant extension of duration of battery;

Significant reduction in electromagnetic emissions;

Significant reduction in data traffic costs.

THE PRODUCT: TECHNOLOGY

WHERE IT WORKS

THE PRODUCT: TECHNOLOGY

The device uses a unique mix of three tracking technologies: GPS, LBS and DEAD RECKONING, as well as a magnetometer, accelerometer and sensors for temperature and detachment.

THE PRODUCT: TRACKING INDOORS AND DEAD RECKONING

A part from the traditional characteristics of tracking technologies functioning outdoors (and partially indoors) managed by GSM and GPS modules the device also includes the tracking technology Dead Reckoning.

The objective of this development has been to ensure a tracking device that manages to track moving objects with a greater precision than that of triangulation of GSM cells in situations where the GPS signal is weak or lost. A great effort has been put into developing the device so that it manages to define the location of a moving object based on the latest preceding position known before losing the signal from GPS satellites.

The device can with the following technology, autonomously or upon request by the user, correct the discrepancies between the actual and the calculated route of the object. Kippy manages Smart Reckoning autonomously thanks to the usage of a magnetometer and an accelerometer internally installed in the product. This type of technology also allows the device to understand the altitude of the object being tracked, which means it functions in buildings with multiple stories.

Using a magnetometer and an accelerometer also ensures a long duration of the battery in Geofence mode, as the device does not need to connect frequently to GPS to understand its movements and probability of being outside the defined virtual fence.

COMPETITORS

PRODUCT

PET TRACKER

BS PLANET

RETRIEVA

GEODOG

DESCRIPTION

Tracking devices for pets. Uses only GPS and wifi in order to track. It is possible to monitor the position of the pet via computer and telephones. Pet tracker is a direct competitor of

Kippy Pet.

Tracking device for dogs using radio and GPS, adapted for training and hunting.

MARKET

U.S.A

Italy

PRICE

99,95 $

For 3 months of service;

179,95 $

For 12 months of service; tagg service 7,95

$/month.

Localizer and collar from

724 €

Tracking device for dogs using GPS, GSM data network, and radio frequency. Software for smart phones, PCs and iPad.

Uses a SIM card.

Tracking device for dogs using GPS and GSM data network. Uses a SIM card.

UK

Germany, Austria, and

Northern Italy

Collar, base station, one year of usage: £249.99, then £79.99/anno

Rental price from:

£34.99

299 € (without SIM card), 328 € (with SIM card)

SALES CHANNELS

E-commerce, retailers

E-commerce, retailers

E-commerce

E-commerce

DESIGN

Ergonomic

Basic

Basic

Basic

COMPETITORS

PRODUCT

LOC8ATOR

DESCRIPTION

GARMIN GTU 10

UBI SAFE

I’M HERE

Tracking device for kids, pets, cars, keys etc. Uses radio frequency and GPS. Used from computer or cellular phone

A tracking device that offers a service of Web-based location tracking using GPS technology.

Position detection is done from

Garmin’s protected webpage on any computer or using the free Garmin Tracking application.

Tracking device for kids, cars, pets etc. Position can be detected via the app for

Andriod and Apple, or on PCs and Macs.

Tracking device: uses GSM data network and a SIM card.

Connects with smart phones and uses Google Maps.

MARKET

Global

PRICE SALES CHANNELS

From £ 64.99 to 229 £, from

£12.42/month

Retailers, E-commerce

Global

Italy

Global

169 €

1 year of service (standard)

Sold only by authorized

Garmin retailers, ecommerce

199,00 €

12 months of service;

Then 4,99 €/month

From May 2013

129 €;

After 200 trackings: tracking subscription

E-commerce

E-commerce

DESIGN

Basic

Basic

Basic

Basic

COMPETITORS

PRODUCT

TRACTIVE

DESCRIPTION

Tracking device using GPS.

Works in any browser or via the application Tractive for Android and iOS.

myKeeper

Product in collaboration with

Telekom in Germany Uses GPS and has an App for iOS and

Android.

The Best Pet Tracker TbPt

Product from Taiwan. Uses UPS and GSM localization. App for

Android, OS coming soon.

Waterproof and with a battery which is a third of the battery of Kippy. Not user friendly to track in real time.

MARKET

Europe, U.S.A

Europe

Global

PRICE

249,98 €, from

4,99€/month

SALES CHANNELS

E-commerce

DESIGN

Ergonomic

-

-

Coming soon 2013

Same design as American

Tagg.

Coming soon

Same as American Tagg.

Weighs 35 gramms.

COMPETITORS

KIPPY

PET TRACKER

BS PLANET

RETRIEVA

GEODOG

GARMIN

UBI SAFE

I’M HERE

CHINESE PRODUCTS

LOC8TOR

TRACTIVE

YES

YES

NO

NO

NO

NO

NO

YES

NO

NO

YES

SMALL DESIGN

BATTERY

DURATION

> 10 DAYS

YES

YES

NO

NO

NO

YES

YES

NO

NO

NO

NO

NO

NO

NO

YES

YES

YES

YES

INTUITIVE DESIGN

FOR 1

ST

USAGE

YES

TRACKING IN

ABSENCE OF GPS

SIGNAL (SMART

RECKONING)

YES

WIDE TRACKING

COVERAGE

GPS + LBS

YES

NO

YES

NO

NO

NO

NO

NO

YES

NO

YES

YES

YES

YES

YES

NO

YES

DEVELOPED APP

NO

NO

YES

NO

NO

YES

YES

YES

YES

NO

NO

NO

NO

NO

NO

NO

NO

YES

NEW PRODUCTS 2014

MINI KIPPY

Smaller dimensions , light weight and reduced battery life.

Primary target cats and smaller pets.

KIPPY KID

Every year 5,2 M kids are born in EU27.

Primary target is kids aged 3-6, ca. 16 M (2,2 M in Italy)

PRICING

END CONSUMER

179 €

with one year od data traffic included

RENEWAL OF SUBSCRIPTION

30 €

/ year

DISTRIBUTION

The distribution strategy consists of 3 key elements:

Selling Kippy in the presence of high quality pet products

Specialized sales personnel and if possible, no self service

Covering the Italian and European market thorugh all pet channels available

Kippy has the following staff dedicated to sales:

- Head of sales (also co-founder of Kippy)

- Junior Responsible for Italy

- Three export managers responsible for all of Europe

In May 2013 we were at the fair Zoomark in Bologna where we met 70 distributors and pet chains from 25 different countries who were interested in Kippy.

We have begun the process of selecting the best distributors for each country.

DISTRIBUTION

ITALY 2013

In Italy there are 5000 specialized pet shops and Kippy will be distributed through these.

We will use the distribution network of 12 wholesalers of Royal Canin

(pet food). The 12 wholesalers have 3-4 agents each, who visit the pet shops on a weekly basis.

All agents have gone through training with the staff from Kippy and they all have a kit from Kippy which they use to present Kippy to shop owners.

So far in Italy we have distributed 2000 counter displays and 150 000 brochures to 2000 pet shops. From the 15th of October and onwards the end consumer has been able to pre-order Kippy directly from the pet shops.

There are also 14 pet chanis that are of importance that will be handled by Kippy directly.

DISTRIBUTION

EUROPE 2013

Our three export managers divide Europe between them and are resposnible for their own territory.

They are at the moment meeting with various distributors across Europe to find those best adapted to the job.

So far we have signed contracts witht he following countries: the Netherlands, Belgium, Luxemburg, Switzerland, Norway,

Sweden and Denmark

By the end of January 2014 we will have signed contracts with all countries in Europe.

We have so far participated in two fairs abroad with distributors, one in Sweden and one in Norway. In May 2014 we will be in

Nuremberg in Germany for the most important pet fair in Europe.

The most important chains like Fressnapf )that has 1800 shops and covers 40% of the specialized distribution in Germany and

50% in Hungary) and Pet at Home in the UK will be handled directly by Kippy without intermediaries.

AD HOC DISTRIBUTION STRATEGY FOR EACH COUNTRY

Our distribution strategies are different for each country depending on the presense of chains, pet shops and veterenaries.

Below two examples:

FRANCE:

Specialized chains (Garden stores, agricultural shops, DIY shops, brand pet shops): 25%

Supermarkets: 55%

Independent pet shops: 5%

Veterinaries + drug stores: 14%

We will approach distribution principally through veterinaries (fast growing) and pet shops.

GERMANY:

Retail (drug stores, discount stores, Aldi): 19% (turnover based on consumer prices: 175 million €)

Specialty trade (pet shops, agricultural trade, garden centers, DIY stores): 81% (turnover based on consumer prices: 741 million €)

Also in Germany we will focus on specialized distribution with special attention towards Fressnapf who alone has 40% of the entire pet market.

DISTRIBUTION

Country

ITALY

ROMANIA

BELGIUM

NETHERLANDS

LUXEMBURG

CZECK REPUBLIC

FORECAST

Type of work Company

distributors chain

Distributor/Chain

Chain

Distributor

Distributor

Chain

Distributor chain chain chain

Distributor ( Belgio e

Olanda)

Distributor

Distributor Olanda

Distributor

Distributor distributor

Distributor/Chain

Distributor

Distributor

12 distributors

PET PRODUCT SRL - ANIMAX

ZOOMANIA - PROFIPET COM

SRL

MARAVET SRL

Laroy Duvo

Tom and Co

Eohippus

Dobey retail (60pv) - Faunaland

(75pv)

Jumper (fressnapf)

Buying4Pets-Agriretail

Eye 4 pets

IPTS Vanrial

IPN

PPB

Tinika-import

Eye 4 pets

Placek

ALMIKA

Champion Petfoods Ltd

shops (clients)

5000

250

33+1200 clients

23

800

140

135

50

450

1000

1000?

450

300

300

2014 country forecast

20000

1000

6000

1500

UCRAINE

UK

POLAND

HUNGARY

SWITZERLAND

SWEDEN

DENMARK

NORWAY

Distributor

Distributor

Chain

Distributor

Distributor

Chain

Chain/Distibutor

Distributor

Chain

Distributor

Distributor

Chain

Distributor

Distributor

Distributor

Distributor

Distributor

Chain/Distibutor

Chain/Distibutor tutta

Tutta + Norvegia e Finlandia

Chain

Distributor

Distributor

Distributor + Svezia,

Norvegia e Islanda

Distributor

Distributor

Chain

Distributor

Chain

Distributor/ Chain

Chain

Triplex

Detta

Spica

Unizoo

Barbus

Pet Brands

Pets at Home

INTERPET - CENTRAL

SHARPLES & GRANT LTD

Jollyes Petfood Superstores

Animal Kingdom

Vital Pet Products

Kakadu

Dorado

EuroZoo

Certech

ZooLog

Megazoo

Fressnapf-Hungária Kft.

Alpha Vet - Alpha zoo

DELPHIN-AMAZONIA

GIBBON

ARKEN ZOO

ZOO DISTRIBUTION HULTHEN

TRADING

ELDORADO

JORGEN KRUUSE

RENE JACOBSEN EN GROS

Q-PET

MAXI ZOO DENMARK

WHESCO TRADING

BUDDY

TROPEHAGEN ZOO

ZOO-1 GRUPPEN AS

350

1200

54

500

1200

38

600

1000

900

1000

1000

?

500

600

300

600

33

32

300

500

73

500

700

1500

400

200

33

300+19

52

1000

7000

2000

800

1500

1000

1000

1500

CROATIA

FINLAND

AUSTRIA

GERMANY

FRANCE

SPAIN

SLOVENIA

GREECE

TURCHEY

Chain

Chain

Chain

Distributor

Chain

Distributor

Distributor+Francia,

Austria, Scandinavia

Chain

Chain

Distributor

Chain

Distributor

+Francia,Olanda

Distributor

Distributor

Distributor

Distributor

Distributor

Distributor

Chain

Distributor

Chain

Distributor

Distributor

Distributor

Distributor

Distributor

Distributor + Portogallo

Distributor

Distributor

Distributor

Distributor

Distributor

PET-CENTAR

MUSTI JA MIRRI

FAUNATAR

AQUARIUM LINDEN

CATS & PETS – TOPZOO

VIVALDI

KERBL

FRESSNAPF

EGESA-ZOOKAUF

SCHULZE

LANDFUXX

EUROPET-BERNINA

WOLTERS

JIKA

MARTIN SELLIER

GIFI

AGROBIOTHERS

CHADOG DIFFUSION

JMT ALIMENTATION ANIMALE

DEMAVIC

TRUFFAUT

LA CONCIERGERIE CANIFELINE

BOBBY-CANIFRANCE

KADESS (ROGZ)

NAYECO

GRUPO ARPPE

ICA

FREEDOG

BTL MARKETING D.O.O.

DOGOTEKA

LEK VETERINA

SMART VITA

7

110

33

300

17

250

1000

800

400

150

1000

700

400

700

500

700

400

500

1000

1000

400

700

700

40

500

58

?

400

1000

600

5000

6000

1500

200

500

500

DISTRIBUTION 2014 – forecast n pezzi venduti

Country

EUROPE

ITALY

Type of work

FORECAST

Company

TOTAL 2014

2014

shops (clients) country forecast

40.000

20.000

60.000

TURNOVER ASSUMPTIONS

TURNOVER BREAKDOWN

Sales breakdown by distribution channels – in €/000

486

652

2013

Sales breakdown by revenues – in €/000

1 541

12 150

8 100

4 050

4 598

9 075

13 431

2014 2015 2016

Wholesale e-commerce

VOLUME BREAKDOWN

# of pieces sold by Product

1 138

2013

50 000

10 000

65 000

100 000

140 000

10 000

2013 2014

Kippy PET

2015

Kippy Bimbo Kippy Old

2016

158

8 648

2014

Vendita prodotti

10 000

75 000

675

17 175

25 581

2015

Servizi aggiuntivi

2016

PROFIT & LOSS

Profit & Loss

Total Turnover

Direct Cost

Industrial Margin

% Industrial Margin

G&A

Ebitda

% Ebitda

D&A

Ebit

% Ebit

Financial (charges)/profit

EBT

Tax

Net Profit

2013

966.208

-434.426

531.782

55%

-443.307

88.475

9%

-75.350

13.125

1%

353

13.478

-10.720

2.758

2014

7.556.918

-3.673.512

3.883.405

51%

-3.122.112

761.293

10%

-181.450

579.843

8%

452

580.296

-227.684

352.612

2015 2016

14.752.066 22.415.083

-7.092.694 -10.830.291

7.659.372 11.584.791

52% 52%

-4.957.744 -6.763.116

2.701.628 4.821.676

18%

-252.350

22%

-306.250

2.449.278

17%

4.080

4.515.425

20%

12.388

2.453.358

-845.358

1.608.000

4.527.814

-1.467.012

3.060.802

Turnover Trend & Ebitda margin 2013-2016

966

9%

2013

7 557

10%

2014

14 752

2015

18%

22 415

2016

22%

Balance Sheet

Immaterial Asset

Material Asset

Financial Asset

Total Asset

Current Asset

Inventories

Other current liabilities

Current Payables

Tax Liabilities

Net Working Capital

Net Capital Employed

Share Capital

Other Reserve

P&L retained

P&L

Net Equity

Cash

Net Financial Position

Total Funding

BALANCE SHEET

2013

239.562

482.212

500.000

2.758

502.758

-20.546

-20.546

482.212

236.000

6.650

0

242.650

316.013

25.555

-90.197

-1.090

-10.720

2014

803.824

1.328.024

1.000.000

2.758

352.612

1.355.370

-27.347

-27.347

1.328.024

500.000

24.200

0

524.200

796.439

305.200

-67.812

-2.213

-227.791

2016

2.601.732

3.531.332

1.000.000

352.612

1.608.000

3.060.802

6.021.414

-2.490.082

-2.490.082

3.531.332

839.000

90.600

0

929.600

3.424.527

1.203.366

-201.140

-1.203.366

-621.654

2015

1.389.486

2.143.336

1.000.000

2.758

352.612

1.608.000

2.963.370

-820.034

-820.034

2.143.336

692.000

61.850

0

753.850

1.844.008

689.567

-132.377

-394.039

-617.674

Net Invested Capital 2013-2016 – €/000

4000

3000

2000

1000

0

2013 2014

Totale Immobilizzazioni

Totale Attivo

2015 2016

Capitale Circolante Netto

Financing breakdown 2013-2016 – €/000

8000

6000

4000

2000

0

2013 2014

Totale Patrimonio Netto

Totale Passivo

2015 2016

Posizione Finanziaria Netta

THIS DOCUMENT IS STRICTLY CONFIDENTIAL, AND IS INTENDED FOR INTERNAL USE ONLY.

IN RESPECT OF THE LAWS REGARDING COPYRIGHTS IN PROTECTION OF CREATIVE AND PROJECTUAL WORKS, UNAUTHORISED COPYING

OF THIS DOCUMENT, EVEN PARTIAL, IS PROHIBITED.

ALL RIGHTS RESERVED

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