OPIN

 

Name: Richard Chang NYU affiliation: Stern NYU status: Alumni

Did you enter last year?: No Do you have any teammates?: Yes How many, including yourself?: 2

 

Concept Name

OPIN

 

High Concept Statement

Discover your favorite food and in need services based on in-network crowd sourced reviews

 

Status Quo

Online reviews are not going anywhere soon, they yield power and influence your decision tree.  A lot of people will trust a review on, say Yelp, before they even ask their friends and family for opinion

 

Competition

We live in a world where reviews and opinions matter.  It becomes a platform for businesses to connect with customers, and help focus on providing good service.  However, not all reviews are reliable; one’s negative experience can draw malicious reviews. And that bad review could potentially skew your opinion about the service provider. Yelp, Google and Angie’s list are the major players, but there are niche spaces to explore

 

Solution

We feel friends and family should help us guide our choices.  Furthermore, a clearly defined review on a specific item can drive better decisions.  We are introducing a concept to review by item/service received. And review will be shared amongst in-network friends and family

 

Revenue Model

The mobile app will be the central platform for review posting and service searching.  It will be a location-based app with geographical and interest notifications. The app will have a friendly interface and back end infrastructure to 1) crowd-source local specific product/service offerings, reviews, and ratings, 2) algorithms to search and stack reviews based on existing social network relationship (Facebook, Yelp, Instagram, YouTube, etc) and/or unknown sources with similar geo and/or ethnicity background.  The primary source of revenue will be selling ads and sponsored listings to small businesses

 

Which platform would you like to launch your app on?

iPhone

 

Which category best describes your app?

Lifestyle