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Econ 499 paper1 - Oleg Yanchinskiy October 2 2011 Econ 499...

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Oleg Yanchinskiy October 2, 2011 Econ 499 The internship I have selected is with a company called Precison Point ( precisionpnt.com ). The company was founded in November 2010, and incorporated as a C-Corp in the state of Delaware. I am one of the founders of this company, and so this can’t really be called a traditional internship. However, through t his experience I have gained more knowledge and expertise than I ever could from a traditional internship. The first several months of the company were spent formulating a short and long term business plan and obtaining developers to work on website development. On the business end, I spent the first several months developing strategic partnerships with other business which we would use to stream our content. Before I go into further detail about my personal responsibilities I need to describe our company and the industry. The idea behind Precision Point was developed in an attempt to manage outside web content in real time. We work in the outside web, which is the web outside of our homes. Recently there have been an increased amount of screens popping up in various locations such as airports, malls, clinics, clubs, gas stations, gyms etc. These screens stream content to people out in the real world while they are on the go. The problem for business arises when they want to advertise in a selected area, but the screens are controlled by different individuals/networks. Essentially what we do is aggregate all these screens making it easy to manage a localized advertising campaign from one platform. We set up partnerships with networks and screen owners and offer to sell advertising for them and share profits. Although at the moment we are targeting small
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business owners such as restaurants, bars, mechanics, etc, we believe that once we integrate with more screens, our product will be beneficial to everyone.
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