Friday, November 7, 2008

The Pitch

Hard Data Factory seeks funding for event listing biz

By Mass High Tech Staff

Hard Data Factory Inc.
Headquarters: Somerville
Employees: 3
Founded: 2006
Web: www.harddatafactory.com
E-mail: johnny@harddatafactory.com
Phone: 617-616-5754
The Pitch: The company is seeking venture capital for nationwide growth.

PITCHING THE TECHNOLOGY
Hard Data Factory supplies event listings, including theater shows and concerts, to media firms with a large web presence, such as CNN, Yahoo, and WeGoPlaces. Hard Data Factory’s product is intended to help media companies monetize their event calendars through ticket sales. The company says it has raised $500,000 to build its technology, which is intended to generate event listings more efficiently than competing products. The founder, Johnny Monsarrat, served for three years as vice president of business development and marketing at Modulo Systems, a developer of software for newspapers — a target market for Hard Data Factory. The company was previously called Activity Central Inc.

PITCHING THE PEOPLE
Who is on the management team? Johnny Monsarrat, CEO, founder and former CEO and CTO of Turbine Inc., formerly of the MIT Computer Science and Artificial Intelligence Lab and the MIT Media Lab; Rickland Powell, executive vice president, formerly of Turbine and Sandstorm Enterprises Inc.; and Andrew Menard, acting CTO, formerly of Turbine and Rampart Studios.

Have executives been involved in a cashout prior to this venture?  Monsarrat cashed out of Turbine and used the money to start Hard Data Factory.

Who is on the board of advisers? Michael Ashley Schulman, director, Hollencrest Capital Management; and Eugene Charniak, computer science professor, Brown University.

PITCHING THE BUSINESS
How much investment is being sought? Hard Data Factory is seeking $1 million to build out a nationwide event-listings service with a back-end.

What partnerships, collaborations or affiliations are already in place? None.

List any federal or state grants, contracts or awards received: None.

What’s the market size being pursued? The company says it forecasts revenue of $18 million in 2013.

Who are the likely competitors, direct or indirect? Hard Data Factory lists Zvents Inc. and Eventful Inc. as competitors. Locally, MarksGuide website www.marksguide.com offers a similar events listing service.

Is the company profitable? Yes.