Photo - Odyssey
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Odyssey

Virtual event platform for Fortune 500

USA, Washington
Market: Computers, office equipment
Stage of the project: Operating business

Date of last change: 30.09.2021
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Idea

Odyssey is a B2B Saas virtual event platform for event producers of Fortune 500 companies, allowing attendees to interact like they are in person by immersing them in a high visual fidelity 3D world.

Current Status

In market. Served Boeing and Wunderman Thompson as customers.

Market

The individual who works as a full-time employee for a Fortune 500 company managing their events.

We also use Value Added Resellers whose clients are the full-time event managers at Fortune 500 companies.

Problem or Opportunity

Over the past 18-months producers of Fortune 500 events have had to turn their in-person events into virtual events. In so doing, they have realized a larger audience size. Now they are beginning to go back to in-person events but they need to preserve the larger audience reach they gained from their virtual events. To do this they are delivering a virtual event in tandem with their in-person event. Unfortunately, their virtual attendees are missing out on key in-person communication and immersion experiences.

Solution (product or service)

Odyssey allows virtual attendees to communicate and feel immersed in the same way that they would be attending an event in person. Odyssey does this by delivering a 3D virtual world through a users web browser, allowing them to navigate and interact as they would in person.

Competitors

Three types of virtual event platforms: 2D video, Spatialized video, 3D virtual worlds

Our direct competitors are 3D virtual world platforms. Virbela is incumbent in space.

Advantages or differentiators

Odyssey creates a goldilocks zone in the market by delivering a low barrier of entry with high visual fidelity. This is done using nascent technology (pixel streaming) that allows Odyssey to be delivered to the end-user through a web browser.

Finance

Admin license $4,560/yr (or $400/mo)
Attendee seat $6/attendee/day
Environment customization $120/hr
$16,490/event

CAC: $5,307
LTV: $197,880 (based on typical three year event contract) ($65,960/yr based on four events/yr)

Business model

Direct
Admin license $4,560/yr or $400/mo
Attendee seat $6/attendee/day
Environment customization $120/hr

Through Value Added Reseller
Admin: " " 90% margin on above
Attendee seat: " "
Environment customization: 30% margin on above

Money will be spent on

Building sales team
Increasing marketing efforts

Offer for investor

Raising 300000

Team or Management

Risks

Built on Unreal. Reliance on Unreal could force a development path.

Incubation/Acceleration programs accomplishment

NA

Won the competition and other awards

Currently semifinalist in the SAC20 pitch competition. Ongoing work towards the finalist position.

Photos

Photo 1 - Virtual event platform for Fortune 500
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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
Photos
Product Video