Bligoo is a Chilean based social blog platform. Previously I've offered them some public criticism and advice (both links in spanish).
Today they unveiled (link in spanish) their new business plan developed by MBA students at UCLA. You can find the whole presentation online (video, audio and slides).
Basically they plan to get $1.5 million in funding before October 2008 to grow from the 50,000 current users to more than 1 million in 2010, while they grow their revenues from $432,000 to $2,556,000 at the same time (mostly by advertising). Their projected valuation is $12.7 million in 2010 based on value per-user.
The main advice from the MBA students to Bligoo was to focus on a niche, and they found the most fitting for them is "social activism" (education, Greenpeace, legal reforms, "green" blogs, etc).
What I found interesting of this business plan is the following: I looked for the MBA class professor resume (Robert Spich), and there I found this interesting bit about him:
"...Dr. Spich continued his professional formation with field experience in economic development projects and technical assistance for the Peace Corps in Chile and the Agency for International Development in Washington D.C..."
So the guy that guided this business plan not only has lived in Chile, he has also shown great interest in social activism. Did he give the best advice for Bligoo, or was he slanted towards this conclusion?
Note (as a reader asked me about the confidentiality status of this information): The referenced business plan was published by Bligoo's CEO in his blog linked in the second paragraph.
Wednesday, January 16, 2008
a social blog platform business plan
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4 comments:
Dear Felipe,
The answer to you question is "maybe". But the key issue is the publication of the Business Plan.
I consider irresponsible, naive and even stupid to unveil a BP that is in its early stages of implementation.
best regards,
your friendly neighbor, TP
Hi tipi,
Although you chose to remain anonymous I would like to tell other readers that you are a successfully funded entrepreneur.
I'm not sure publishing the BP was a bad idea, I like being able to participate in the process (at least as an observer).
It will be interesting following Bligoo's next steps.
Fh
Felipe,
I think "successfully funded entrepreneur" becomes a successful expression, when you achieve a successful Exit!
And of course I am very interested into watch Bligoo's evolution... but after the "BP's revelation", my bet does not go for them.
regards,
TiPi
Felipe,
Great to reconnect with you. You said:
So the guy that guided this business plan not only has lived in Chile, he has also shown great interest in social activism. Did he give the best advice for Bligoo, or was he slanted towards this conclusion?
My answer is that we are always biased in our points of view. All of us are from certain backgrounds- that of course has certain blindnesses, but also gives us the opportunity to see certain opportunities. I would be very concerned if this same person had suggested an area that he knew nothing about- and I would say that his information was suspect... business plans that just hold analytical models based on data ("the market is this big") and does not know something about the reality of the market is limited at best.... and often time very foolish. I think that the fact that this guy suggested an area that he knows about says that there is a real opportunity to target... and it is possible for Bligoo to achieve real traction in this space.
Secondly- I would like to respond to one of the other commenter's comments. I see Paolo Colonello's decision to unveil his plan in the early stages as an extreme strength. I have been building startup companies since 1989, starting my first in 1994. Gone are the days of confidential plans. Execution of an idea is more important these days than having an unique idea. Opening the Bligoo plan up for scrutiny gives Bligoo and Paolo's team many, many more advocates from his community that Bligoo will be used by. Operating in the open is powerful. Individuals and companies that can not operate in the open, especially for a social media company like Bligoo, will fail- not because they are unable to execute- but because they are irrelevant due to not having a strong community around them.
I am very excited that Bligoo is going... I just wish that it was going when I was in Chile! Congrats to Paolo and his team.
Saludos desde Austin,
Kevin
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