Introduction - Today millions of people use web-based trading platforms such as eBay and Amazon as well as classified advertising sites such as Craig?s list and Kijiji to buy and sell a wide range of goods. Social networks such as Myspace, Facebook and Bebo are changing the human fabric of the Internet by enabling people to cluster together within communities of trust.

Opportuntity - It is the directors' belief that ecommerce has not yet been combined with the huge potential of social networks. In addition, our research has established that a need exists amongst ebay users for a product that enables them to more easily list items for sale and manage multiple listings across different trading platforms. The company is therefore developing a complementary product it calls snocat (mysnocat.com) that makes trading online easier whilst enabling its users to interact with other like-minded individuals.

Method - Snocat will use advanced pattern recognition technology to offer people who trade online a simple one-click buying and selling tool. In addition, users will be able to monitor progress of auctions, fixed price transactions and classified ads across multiple platforms from a single location. Snocat will also use artificial intelligence to learn about a user's requirements. It will make recommendations and find products that it believes subscribers will be interested in.

Features - The social component will allow users to find like-minded people to share items they have purchased or wish to purchase. They will also be able to buy and sell, swap and donate as well as offer advice, exchange helpful tips and arrange offline events. Snocat will be compatible with all of the most popular ecommerce platforms.  

Revenue model - The company will charge a modest fee to access the application and will also offer an ad-supported free version. At a later stage the company will enable snocat users to upload their items to the snocat trading platform where they will be charged a retrospective listing fee and commission.

Target Market  - primarily the product is aimed at the 22m (10%) of existing eBay subscribers who are passionate collectors that wish to improve their user experience. We plan to reach our target group via key word ads, widgets and strategic alliances.

Executive Team - Simon Montford (co-founder of icollector.com / eBay Premier), Dr Rob Richards (Stanford Phd graduate in AI), Dr Mark Collins and Dr Tom McCallum (Edinburgh Phd graduates in AI) and Christopher Weston (owned the world's third largest auction house). 

Exit - Corporate strategy is to become an invaluable online trading tool for millions of people around the world that will almost certainly become an acquisition target within the next 2-3years.