PG Case Study

Words: 868
Pages: 4
Subject: Uncategorized

Slicing Pie Exercise

PeopleGofer.com is an app that turns your smartphone into a people finder. It’s designed to avoid those awkward moments when you’re meeting a stranger in a coffee shop and don’t know exactly what he or she looks like. It works like this: 1) make an appointment with someone to meet at a specific time and location; 2) Use PeopleGofer (download it first if you don’t have it) to put the appointment on the calendars of all participants and exchange social media links; 3) On the day of the appointment, the first person to arrive at the location finds a table and turns on PeopleGofer on their smartphone; 4) as others arrive, they turn on PeopleGofer and use it as a sort of divining rod. The app estimates proximity and direction to the person who arrived first; 5) Once they find each other, the meeting participants indicate to PeopleGofer that they’ve found each other.

Founding Team

Sarah is the CEO. PeopleGofer was her idea. She has a BA in Sociology from Cal Lutheran and plans to pursue an MBA sometime in the next five years. Sarah’s primary responsibility will be customer development, marketing and selling, and pitching to investors, when the time comes. Sarah comes from a prominent Silicon Valley family. Her mom is a corporate attorney, and her dad is a successful serial entrepreneur. Sarah’s parents gave her $50,000 to contribute toward a startup she co-founded, and friends of her parents invested another $125,000. Sarah intends to use those funds for PeopleGofer. To work on PeopleGofer, Sarah passed up an entry-level marketing position at a high-profile social media firm (her dad arranged it for her) with a starting salary of $45,000 per year. For the next six months, Sarah will work on PeopleGofer full-time (1,000 hours in six months). In addition to the $50,000 gift, her parents will pay for Sarah’s living expenses.

Amir is the COO. He met Sarah at Cal Lutheran, where he earned a BS in Physics. Amir was working on a security device that detected when a smartphone was nearby. He spent two years and 1,000 hours working on it, and he has a provisional patent application in process for the device. When he met Sarah, he decided to join forces with her. The device may have value to PeopleGofer at some point, but not now. Amir did develop a smartphone app that is the basis for PeopleGofer. After the next six months of development, Amir’s original app is expected to represent about 25% of the PeopleGofer code. Following graduation, Amir got a job that pays $70,000 per year and more than covers his living expenses. For the next six months, he will dedicate 40 hours per month to PeopleGofer. Amir plans to invest $25,000, his entire life savings, in PeopleGofer.

Tracy is the CTO. She barely graduated from high school and does not have a college degree. However, Tracy is a brilliant programmer. She met Sarah at a hackathon for college students (Tracy gained admission by hacking her way into a local community college to fake her enrollment). The two became fast friends, and Tracy agreed to join PeopleGofer. Tracy lives with her single mom and works part-time (20 hours per week at $15 per hour, $300 per week) at a local fast food restaurant to make ends meet. She still expects to work more than full-time on PeopleGofer in the next six months, as much as 1,200 hours. Sarah has convinced Tracy to leave her fast food job in exchange for a monthly stipend, to be paid to Tracy from PeopleGofer’s friends & family funding. She will start with Amir’s code and ultimately contribute 75% of the code for the PeopleGofer app. If Tracy had a college degree in computer science, she would command a salary of at least $90,000 per year from an established company. She hopes that serving as CTO of a successful tech startup will give her credibility in landing future gigs.

The team expects to spend all of the $200,000 in the next twelve months. They are budgeting $10,000 a month for technology and administrative expenses. The remaining $80,000 will be used for salaries.

NO SOURCES NEEDED
Your assignment:

How complete is the founding team? If you could add one more person to the team, what skills would they have, and would you consider them to be a co-founder? 1-2 pages
How would you use the $80,000 salary budget? You can include the fourth person described above, or you can decide to split among the founding three. At least a page.
How would you split equity among the team members? At least a page.
Finish the story. Where are PeopleGofer and its team at the end of the year? 2-3 pages. If you incorporate a Business Model Canvas into your story, it counts as a page.

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