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T HE F RENCH D IGITAL R EVOLUTION Marie EKELAND

JULY 11th, 2011. T HE F RENCH D IGITAL R EVOLUTION Marie EKELAND. D IGITAL E CONOMY , N °1 F RENCH G ROWTH S ECTOR. Highest growth contribution to GDP* +25% between 2009 and 2010 3.7% contribution to GDP in 2010 (€72bn) ► 5.5% estimate in 2015 E-commerce driving consumption

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T HE F RENCH D IGITAL R EVOLUTION Marie EKELAND

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  1. JULY 11th, 2011 THE FRENCHDIGITAL REVOLUTION Marie EKELAND

  2. DIGITALECONOMY, N°1 FRENCH GROWTH SECTOR • Highestgrowthcontribution to GDP* • +25%between 2009 and 2010 • 3.7% contribution to GDP in 2010 (€72bn) ► 5.5% estimate in 2015 • E-commerce drivingconsumption • €28.8bn in 2010 (+28% from 2009) • 27m online buyers (72% of internet users) • 7 to 12% of total consumptiondepending on category (books vs techno..) • n°1 French e-commerce website: 10m buyers H2 2010 2 • *Sources: McKinsey(03/2011), ACSEL/PWC(05/2010)

  3. N°17 INTERNET CONSUMERS CATCHING UP • Strongbroadbandpenetration* • 38.2m internet users (60% population) • 89.1% broadbandpenetration rate (tinycablepresence) • Growing social networks with leader premium • Facebook*: 22.7m members (36% population), n°8 country, +35%/year • Twitter*: 2.4m members (4% population), n°17 country, +110%/year • Smartphones driving internet mobile usage* • 15.5m internet mobile users (25% population), +30%/year • 59% visitsfrom iPhone, 22% Android (highestgrowth), 14% iPad 3 • *Sources: ComScore (12/2010), SocialBakers (03/2011), Mediamétrie (03/2011)

  4. BUT ECONOMY STUCK ON OLD SCHEME • Only 3 big R&D companiescreatedsince 1980* (vs 82 in the US) • No hightech champions • R&D spenders > 40 yearsold in average • Lack of R&D intensity* • 2.0% of GDP spent on R&D • (2.3% for OECD, 2.8% for US) • Decreasesince 1998 • Companies with 2009 R&D above 100m€ • By seniority (FR-ALL-US)* 4 • *Source: Nicolas Von Bulow (06/2011)

  5. CULTURAL LIMITSTO ECONOMIC DYNAMISM • Lack of strategic M&A culture • M&A usually to mergewithcompetitor • Key strategic acquisitions performedabroad • Illiquid IPO Market • Few tech values • Lowrisk culture: littleappetite for equityinvestments • Listing of highgrowthcompanies on US markets: 5

  6. STARTING TO MOVE • Since 2010, somekeyaccounts move forward • The start-up sceneis alive! • Entrepreneurs, entrepreneurs & entrepreneurs • Rise of an ecosystem • Fundingavailableat all development stages 6

  7. Deal flow propriétaire à 65% ENTREPRENEURS WELCOME • Here comes the young generation! • Serial entrepreneurs show the way

  8. Deal flow propriétaire à 65% AN ACTIVE ECOSYSTEM • Incubators, accelerators, PE boutiques building presence • Numerous tech events • Specialized medias & blogs

  9. Deal flow propriétaire à 65% THE FINANCING CHAIN • New super-angels & entrepreneurs funds, active in seed funding • Shrinking of French based VCs, except for individual tax funds • Greater presence of big European Funds • Favorable tax schemes & subsides for start-ups

  10. TECHNOLOGICAL TRENDS: IT’S THE DATA, STUPID! • Getting valuable data: A key challenge for audience monetization • Generalist medias & social networks: • Vertical or personalized medias: • Web curation or live-, micro-, blogging platforms: • Mobile applications: • Social gaming: 10

  11. TECHNOLOGICAL TRENDS: IT’S THE DATA, STUPID! • Crunching & computing data: taking the best of users data • Retargeting: • Signal identification: • Personalized recommendations: • Mobile & video ad-serving: • Sites analytics: • B2B data management: 11

  12. THE PERSONALIZED RETARGETING MODEL EACH PERSONALIZED BANNER CREATED ON-THE-FLY TO MAXIMIZE RELEVANCE 12

  13. AN AMAZING EFFECTIVENESS • Full campaign transparency – True ROI with CPC, no « view through » pricing • CPC can be automatically optimized per product category to meet conversion and ROAS goals • CTR and conversion rates 6x greater than RON or static retargeting 13

  14. DRIVING AMAZING GROWTH KEY MILESTONES • 2005Company founded by Jean-Baptiste Rudelle, serial entrepreneur • 2006 Investment of based on a personalized recommandation engine • 2007 Focus on personalized retargeting for advertisers, fundraising with leading European VC • 2008 Commercial launch, first French customers • 2009 French hyper-growth, European launch, JB Rudelle leaves for Palo-Alto • 2010 International expansion, first US customers & investment of • 2011 Worldwide leader, expansion to search KEY NUMBERS • > 7 billions impressions per month • 6x increasein CTR & conversion rates • 300 employees • 20 countries • > 1.000 clients in top retailers • Profitable since July 2009 • 70% of Top20 ComScorepublishers • inventoryaccess • > 1 billion queriesfrom Google RTB • answeredwithin 120ms per day 14 14

  15. VOICE BIOMETRICS IDENTIFYING VOICES REAL-TIME 15

  16. SPECIAL THANKS TO • Cédric GIORGI – Seesmic • Samantha JERUSALMY – ElaiaPartners • Hal LEVIN - TTI/Vanguard • Pamela POOLE –Blogger • Nicolas VON BULOW - Clipperton Finance 15

  17. APPENDIX 15

  18. ELAIA PARTNERSIN A NUTSHELL • A committed & complementary team brought together by two passions: Entrepreneurs & Digital Economy • A premier brand in venture capital,thanks to its • Best of breed performance: Elaia Ventures, sole European VC fund to figure in first quartile of the 2003 vintage (Preqin) • Digital expertise, sought by best entrepreneurs, • Strong involvement on value-adding actions, • Investment strategy, based on optimized money deployment & rigourous portfolio management, • LPs trust, who committed more than €80m since 2002.

  19. OPERATIONAL BACKGROUNDS WITH COMPLEMENTARY VISIONS Philippe Gire Partner Xavier Lazarus Partner Marie Ekeland Partner • Master in Computer Science & Economics • An IT manager experience in Fixed Income Front Office systems • Engineer diploma • A career in consulting in Information Technology • PhD in Mathematics • An e-learning start-up, sold to a publisher • A joint VC experience since 2001

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