Start-up Executive Summary - Essay Example

Start-up Executive Summary Executive Summary (Cubie Inc) Elevator Pitch Cubie is a private SME(Small Medium Enterprise) firm based in Taiwan since 2011. The company was established by the co-founders Cjin Cheng and Yenwen Feng, whose vision is to provide a door way solution for effective mobile communication (Chen, 2012). The company under its mission works in the areas of mobile access application and communication through which the future plans of the company are to connect the users with social media websites like Twitter, Facebook, or My space.

In the company’s recent progress, Cubie has been able to hit millions of applicants found on the chat extreme to provide its viable IT apps on the mobile phone index. This is how the company has been able to locate its place in the market segment and now set with a good distinction to promote its business campaign in the region (Chen, 2012). Overview Cubie is a recent mobile application company, founded in Taiwan in the year 2011. The total number of employees is around 10, working in its different departments of finance, design and service.

Cubie was Co-Founded by Cjin Cheng, who is the former Co-founder of Gamelet Inc (Mac, 2012). Her experience in the field of mobile apps helped the recently launched Cubie Messenger to get over million download in just a month. It is a video chat and share drawings messenger, which allows users to connect to their friends and send any drawing while chatting. The revenue generated by the messenger in the first year is around $1.1M, which is estimated to rise in the coming years (SG links, 2012).

Industry Size/Structure Cubie is a small enterprise based on an emerging SME structure. It is present with a decent size of employees to proceed, recruiting around 10 specialists at a time, with a starting capital of 1.1 million to invest in its regional market segment (Mac, 2012). The company being a potential organization and a follower of entrepreneur traits (principles) holds a market size of 10 million users on internet, where the central area of progress is mobile application and service.

In the year 2012, the company has been among the 33 companies outlined by 500 startups program. The program is a seed funded project, which supports companies like Cubie on investment and business expansion concerns (Mac, 2012). According to James Hill, the Chief International Messenger Cubie, the company is with periodic size expansion, especially after joining 500 Startups program. On account of the program, Cubie has received an amount of $ 1.1 million to lead its further business in the Southern American and Spanish districts (Mac, 2012).

Opportunity Cubie under co-founders’ vision has been significant to connect to its million users populace (Mac, 2012). The effort is to bring optimum solution for uplifting mobile phone communication. This was one challenge but came out as an opportunity, as Cubie became progressive in understanding the real problem (pain) of the users, which was compatibility and effectiveness of the mobile phone application (Cheung, 2012). In mobile phones mostly like I phones or android phones, users often face the problem of phone hang or less/no supportability of the app software, with the phone it is built in with (Mac, 2012).

This was the area of the pain (the problem) which Cubie intuitively addressed up and brought Cubie messenger as a direct handy solution for the users, facing the same type of problem in their respective phones (Mac, 2012). Cubie Messenger has been one of the successful projects of the company, which got launched at the start of the year 2012 to grow its revenue and market indexes in the Spanish and South American region (Cheung, 2012). The project is close to the 10 x rule, as it brought a competition in the market and a technical challenge for the competitors falling in the same market region.

Cubie Messenger being a compatible phone app increased durability and timeliness in the phones communication, while adding the value and attractiveness (characteristics of opportunities) for the engaged users in return (Mac, 2012). Product/Solution Cubie focuses on modifying the traditional way of chatting, and believes that much can be done to make mobile chats more fun and fascinating. The issue is that people are getting bored more frequently with the mobile applications and chat messengers, where there is always a need of change to keep people motivated (Cheung, 2012).

The Cubie messenger is inclusive with new stuff in its messenger, especially to release the boredom for youngsters and teenage group. They can draw whatever they like and share it with their friends on chat (Tumblr, 2012). This feature has helped the people to express themselves, not just by words but with drawings, pictures and videos. Hence there is an opening for people adopting this new style of chat, and leaving the old one (Tumblr, 2012). The Product/Solution of Cubie follows the Scalability principle as the product is a onetime effort which can provide the company with long term benefits.

The product can be modified easily and added with more options and designs to make it look new and more attractive (Cheung, 2012). Technology The Cubie messenger is designed for the Android system, so it is compatible for all cell phones which are using the Android System like Iphone, Samsung etc. The technology used makes it a pretty light application that consumes less memory of cell phones in comparison to other apps of the same type, and can run smoothly even when the user is executing multiple programs simultaneously (Tumblr, 2012).

Cubie has evaluated several products in the past, to check the market demand. First, they came up with teenage games and then shifted their focus towards mobile instant messaging and chatting applications. Cubie has taken the route of agile development, where the primary product is intended to provide the basic features which make it look different and better than the other chat messengers in available. The recently launched chat-draw messenger is a Minimum Value Product, which the company aims to enhance and add the facilities of connection to facebook and twitter, after getting customer’s feedback and demand (Mac, 2012).

Company Cubie has always tried to satisfy its customers since it came to existence. The ideas and technology behind Cubie’s apps are always innovative and easy to adapt for the customers. While the other companies are trying to launch huge fancy products, Cubie aims to target the common need/actual need of all the users. And launch a product that is easily compatible and worth using (Tumblr, 2012). Cubie messenger has acquired around 4 million users in just no time, due to its customer-oriented apps, and it plans to be a part of every mobile and PC user in the coming months (Tumblr, 2012).

The new drawing styles and animated pictures and fonts would surely give the user a reason to laugh and enjoy the chat more than ever (Tumblr, 2012). Leadership For a company’s lead time success, it is necessary that it holds talented, skilful and expert business team and leadership (Chen, 2012). Cubie being a small SME enterprise has been able to move with such an objective as it raised 10 million users, right after the launch decision of its mobile games application. The application amazed the teenage group and came out well in the first quarter of the fiscal 2011.

This was the result of team’s technical excellence, which got showed up in the very first stage of the business period (Mac, 2012). The team of Cubie is a combination of decision makers and technical specialists, which eventually made the company a strong and successful one in the entire business period (Chen, 2012). The technical crew follows expertise in methods of A/B testing, SEO (search engine optimization), event analysis or metrics analysis while decision makers (Cjin Cheng and Yenwen Feng) have been specialists in marketing and business sections.

The decision of launching Cubie Messenger was a major example of Cubie’s quality leadership decisions, which brought ten million users right after the launch of such vibrant feature. About 3.5 million downloads were recorded after the launch which showed that the decision was a plot of customer driven strategy (customer development), which raised Cubie’s market index in the mid of 2012 (Mac, 2012). Reference List Chen, A. (2012, September 1). Taiwanese company selected for 500 Startups program.

Retrieved November 4, 2012, from www.focustaiwan.tw: http://focustaiwan.tw/ShowNews/WebNews_Detail.aspx?ID=201211010033&Type=aECO Cheung, S. (2012, October 10). Taiwanese IM Company Cubie Messenger Secures First Round. Retrieved November 5, 2012, from Dowjones.com: http://pevc.dowjones.com/article?an=DJFVW00020121010e8aaarii1&from=alert&pid=32&ReturnUrl=http%3a%2f%2fpevc.dowjones.com%3a80%2farticle%3fan%3dDJFVW00020121010e8aaarii1%26from%3dalert%26pid%3d32 Mac, S. (2012). + 3.5M users in 6 months by thinking market first, product second.

Retrieved November 4, 2012, from www.quibb.com: http://quibb.com/links/3-5m-users-in-6-months-by-thinking-market-first-product-second SG links. (2012, May 29). Cjin Cheng, co-founder of messaging app Cubie Messenger, shares about their one million app download milestone. Retrieved November 5, 2012, from sglinks.com: http://sglinks.com/pages/4506723-cjin-cheng-co-founder-messaging-app-cubie-messenger-shares Tumblr. (2012, October 31). Cubie Messenger joins the 500 Family. Retrieved November 5, 2012, from Cubie Messenger Blog.

Cubie Messenger. Chat can be so much fun.: http://cubieapp.tumblr.com/