Launching FIELD 3
“Buy YENTA, buy YENTA!”
“We’re not going on Failed Business Track!”
It’s been a crazy week for the RC class, guinea pigs for Harvard Business School’s new FIELD program. Wednesday, April 11 was FIELD 3 Launch Day, when all 150 student start-ups needed to have a product or service ready to sell. After a morning of quick 10-minute presentations to investor sections, the financial market simulator opened for two hours of whirlwind trading.
Now that the dust has settled, The Harbus investigates the most successful businesses that are emerging from each section. What does it take for a stock price to hit $200? Read on to find out what excites the Class of 2013.
Ticker symbol: GAGE
Closing price: $277.3
ServiceGauge provides companies with a mechanism to receive open and honest feedback from customers. The group’s presentation deck was full of enough charts, graphs and stats to excite any consultant, but investors were undoubtedly also impressed by GAGE’s impressive customer acquisition rates.
Ticker symbol: GTZ
Closing price: $254.7
Team members from Bundle of Joy are surely feeling joyful with their stellar performance. The company currently offers two “bundles” of products for expectant mothers. Among other innovative features, the site will notify a gift giver if a recipient is already receiving a Bundle of Joy.
Ticker symbol: APT
Closing price: $265.1
RENTective connects out-of-town apartment seekers with locals looking to earn cash; customers can pay people to check out apartments for them that they can’t personally visit. By targeting the Class of 2014, the company has already been able to generate revenue, which inspired investor confidence.
Ticker symbol: KID
Closing price: $359.7
IvyKids has emerged as the poster child success story of FIELD 3. With an educational iPad app that bridges the virtual and physical worlds, the team has been able to secure funding outside of FIELD resources and an Advisory Board member from Disney. In fact, one of the team members will be transitioning from “FIELD student” to “real entrepreneur” to work on the project full time this summer.
Ticker symbol: INST
Closing price: $180.4
MySousChef is in good company as a FIELD business offering a delivery service to facilitate cooking at home. So why is this particular group performing so well? Hmm…
Ticker symbol: TRIV
Closing price: $220.3
Section F’s TrivPals app enables users to play mobile trivia games with friends; the current release is stocked with over 11,000 questions. The company is using a freemium model supplemented with additional revenue from in-app purchases.
Ticker symbol: KII
Closing price: $234.0
The Go Park Go app is a marketplace that connects drivers with commercial parking lots who have available spots. “Our technology enables the parking lot operators to communicate and change real-time pricing directly with customers, so it guarantees the best deals for our user base,” says Kiichi CFO Cass Gilmore (NG).
Ticker symbol: KONG
Closing price: $176..8
Everydaydinner.com offers customers two take-out options every evening. The site, currently active, has over 150 members who have placed over 100 order since launch. The sleek site send personalized emails with the daily menus and allotted drop-off points.
Ticker symbol: LOL
Closing price: $246.0
HerSaree.com lets its online customers rent sarees, a la Rent the Runway, and have them delivered for special occasions. The team has already purchased inventory from Jaipur, India, and booked $700 in revenue.
Ticker symbol: TAV
Closing price: $236.6
TAV Cashmere is a “socially responsible luxury goods company.” This group combines business with a social mission by offering high-quality products and giving back to schools in rural Mongolia, where the cashmere is produced.
For a full listing of all remaining FIELD 3 businesses, including website URLs, go to http://www.harbus.org/2012/field