I.

Value Proposition:
HappyGo is an instantaneous tourist guide service at quick speed that allows tourists and domestic customers to
engage in hassle-free and pre/post-planned travel.

To Riders:
1. On-demand Guides: Customers can avail a tourist guide as close to as the time-of-flight check-in and have their
guide on the spot and even avail services on-the-stop of requirement.

2. Custom Guides: The “exact tour” that the user needs (pick-up, drop-off and tourist guidance without transit on
either ends)

3. Affordability: Typically, lower prices than a comparable tourist guide booking, an estimated fare is provided prior
to the hire.

4. Ease and Convenience removing friction from all interactions to the extent possible, such as:

• Fast pick-ups (within 3-7 minutes or already present) and tracking the guide arriving
• Choice in terms of guide type (Historical, Culinary, Business etc.)
• No requirement of third-party apps for communicating or disclosing the route and destination to the guide
• Avail both cash and cashless transactions

5. Rating system that allows for feedback

6. Robust Safety Precautions that allow users to wirelessly transmit and receive information:

Face Unlock Security – Customers would be able to instantly double/triple tap their power button or use face unlock
to indicate an emergency

Voice Recognition Booking – Converse your requirement using the Sandy voice assistant and allow Sandy to get you
the best deals and book your guide for you!

Safety: The Guided gets to see the guide’s name, previous feedback, car license plate number, photo, rating before
meeting the guide, name and photo of the shared trip prior and real-time tracking of the guide and ride

To Guides:
1. Income Generation and low idle time due to large amount of active guides

2. Flexible and predictable work hours as well as self-determined shift durations

3. Tracking one’s earnings (in real-time) and ability generate immediate earnings and ability to get paid out
frequently

4. 24/7 support: ability to contact HappyGo anytime, e.g., in the case of issues with a guide as well as providing a
rider rating

5. Are their own boss – Work as per their requirement

6. The guide app that helps with navigation, alerts, planning, earnings, etc.
7. Ease of joining: requirements to join can be met by most guides (mainly: identification, background check, city
knowledge, language and skills check, vehicle inspection, 4-door car etc.)

8. No upfront investment in joining (pre-existing car or ability to source through a vehicle marketplace for those who
want to ride but have no car

9. Ability to earn above average in peak demand (the guide app shows surge areas) – often weekend days

10. Driver rewards program: progressive rewards based on work hours, etc

11. Ability to get customers (passengers) at no cost to the driver

12. Insurance coverage through HappyGo during the trip (guides still need to show they are insured at other times)

II. Customer Segments:

1. Rider Segmentation:

Geographic:

Home location, tourist destinations, popular city destinations, frequently visited locations, isolated locations,
Metropolitan cities

Urban/Rural

Demographic:

Age Range: 12-60

Gender: All

Life Stage: Bachelor, Engaged & Newly Wed, Empty & Full Nest, Solitary

Generation: Gen Z, Gen Y & Gen X

Race & Culture: All

Occupation: Student, Employee, Architects, Researchers, Retirees, Handicapped, Bloggers etc.

Behavioural:

Loyalty: Hard/Soft Loyal

Benefits Sought: Cost Efficiency, Experience, Joy, Convenience, Ease

Personality: Easy going, ambitious, curious, adventurous

User Status: Non-user, potential user, first-time user and regular user

Psychographic:

Social Class: Struggler, mainstreamer, explorer, reformer, aspirer, succeeder, resigned, achiever, believers,
experiencers, strivers etc.

Guide Segmentation:

Demographic: 18-50

Gender: All

Life Stage: Bachelor, Engaged & Newly Wed, Empty & Full Nest, Solitary

Generation: Gen Z, Gen Y & Late Gen X

Race & Culture: All

Occupation: Tourist Guide, Blogger, Student, Driver, Bachelor Graduate

Behavioural: Preferred working hours and patterns

Geographical: Local/Native City

Pro Level: Trained Beginner, Intermediate & Expert Guides

Offering: Single Guide, Customized Guide, Whole day Guide, Pre-plan Guide, Package Guide etc.

III. Channels:

1. Word of mouth is often said to be a strong driver, it may follow the typical innovation adoption curve starting
with early adopters

2. Free media coverage based on the novelty factor. Whenever we enter a new country or city, we can be sure of
tons of free coverage. And even negative coverage seems to not be stopping users from joining.

3. Campaigns: free vouchers when we enter a new city (e.g., handed out at public transport stations or simply
through discounts in the App)

4. Social media and virality - YouTube; Twitter; Facebook; LinkedIn; Pinterest

5. Digital ad campaigns through Google Ads and social media

6. App stores (iOS, Android) – through high ratings, ads and being feature.

7. Digital Advertisements: Adverts playing on television and on streaming services

IV. Customer Relationships:

Relationship with guided:

Manage safety risks

Manage bad behaviours (on both sides drivers and passenger) and improve rules continuously

Deal with customer issues in an appropriate manner and timeliness (see “Channels” for more details)

Transparent pricing, e.g., criticism on surge pricing by riders and decreasing hourly income by drivers

Transparency around privacy (a number of repeat coverage over the years on insufficient data privacy, reports
of security breach cover-ups)

Portray the desired company image through social and other media

Relationship with Guides:

The platform’s ability to generate income with tips available

Acceptable working conditions and hours

Relationship with Cities:

Correlate travel mediums within the city – Airports, Train Stations, Bus Stops, Commuters etc.

Increasing Jobs within the city – Referring to an GOI report, 2011 that shows the powerful economic implications of
the guide medallion system

Relationship with the public:

• Valuable contributions post the Covid crisis, e.g., increase demand for travel agencies, support to local
restaurants, provide free guide & trip services for healthcare workers
• Many examples of community support
• Pointing out positive impact on the environment, e.g., reducing emissions through electric vehicles
• Making communities safer, e.g., through increasing recreational activities
• Manage the platform’s image across the media and other relevant channels

V. Revenue Streams

HappyGo will charge a 35% service fee on all rides. Our business model would not work if the guides were not
considerably cheaper than a regular freelancer/packaged trip such that even without the addition of the HappyGo
commission, it still remains noticeably cheaper than the comparable guide trip.

Utilising existing assets (depreciation / lease costs):

Most commonly, guides utilise their own, pre-existing cars and equipment

With this, HappyGo spends no capital costs on these assets, has no associated cost of capital (or WACC) and no
ongoing depreciation charges

For the guide, it is an opportunity to get some contribution towards what normally would be an asset parked for
95% of its time. And they still have the personal utility that they bought the car for.

Guides who may have bought a more expensive car or equipment for the purpose of guiding for HappyGo would
expect to have at least some coverage of the incremental capital costs (principal) and the cost of capital (interest).

Ultimately, HappyGo (and their customers) profit from higher utilisation of an existing asset in this case

HappyGo would be utilizing a transactional revenue and subscription-based revenue models.

VI. Key Resources:

• Network effects between the participants (guides and guided) are essential
• Active users, guides, restaurants/hotels
• Data assets: Captured user data and other data (external)
• Algorithms, technologies, analytic capabilities and more
• Skilled engineering & other staff, including local staff
• Brand: Make a statement with a high Interbrand index

Digital assets:

• The User App

• The Guide App
• The HappyEat App (for users)
• The HappyEats App for restaurants, HappyEats Manager App
• The HappyRest App (for users)
• The HappyRest App for hotels, HappyRest Manager App

The Website: HappyGo.com

VII. Key Partners:

1. Guides: The guides are on the supply side of HappyGo and they can join or leave at a moment’s notice. It is
essential to have a sufficient number of them to be able to provide the customer proposition (timely tours and pick-
up at low cost). They bring their own tourist kits, cars and safety kit into the value proposition for which HappyGo
does not have to outlay any capital costs. Without a critical mass of guides, the crucial indirect network effects do
not kick-in which is why HappyGo will accelerate our supply when we enter a new city. But even after the initial
onboarding of guides, there is the ongoing issue of their employment status, payments, entitlements, etc.
Additionally, there are a growing set of specialised guides:
 • Wheelchair capable cars/guides/drivers
• Food Connoisseurs
• Business Connoisseurs

2. Restaurants: Like drivers, restaurants are essential and can join or leave at a moment’s notice. They can multi-
home using one of the many competitor meal-delivery apps like Zomato, Swiggy, Dunzo and BigBasket. Therefore,
enticing users to visit local restaurants, enjoying themselves at the restaurant with friends and family will strengthen
the restaurant’s in-store sales.

3. Technology Partners: The first are tech partners offering leading-edge, proprietary technology that is essential to
the value proposition. The second includes technology that is relatively widely available and/or non-essential to the
uniqueness of the value proposition (even if leading-edge), this includes things like maps, GPS, payment, Cloud
services, the elements of the tech stack, etc.

4. Commercial partners: HappyGo would partner with a multitude of corporates and commercial partners. These
types of partnerships differ and have different purposes, ease pick-up/drop-off, creating new channels to local
markets, increasing loyalty and more.

5. R&D Partners: research partners, e.g., ATG on future technologies, such as autonomous vehicles; partners on
eVTOLs (electric vertical take-off and landing); as well as R&D partners on IT research areas, in particular, AI

6. Investors/venture capitalists brought the initial rounds of funding to the table. The funding helps us to develop
the functionality, apps, algorithms, our R&D, but is also used for customers acquisition costs and other expenses.

VIII. Key Activities:

There are three types of key activities: (a) operational excellence, e.g. safety; (b) continued expansion to new
countries and cities; and (c) improve existing value propositions and develop entirely new ones

Remove friction (search costs) from all interactions. This includes the many improvements around pick-up points,
e.g. location accuracy, spotlight and many other (non-technological) ways

Remove negative experiences (transaction costs), e.g., bad behaviours / safety needs on both sides (guided and
guide), e.g., through rating and other measures

Reduce safety risks which often come with the risk of negative coverage and can add to regulatory concerns

Improve the technical lead on the proprietary technologies

Improve the App as well as the involved processes based on user feedback

Keep participants engaged and stimulate ongoing participation. This can include external stimuli, such as
providing rewards, promotions, notifications, voice assistant etc.

Scale guides, drivers and customer side (in existing cities) to reduce idle times for guides, drivers and waiting times
for guided. This also includes keeping both sides in balance. One (unpopular) way of doing so is surge pricing

Expand and grow into more cities and countries (more on the growth strategies in the premium resources
Continue improving the value proposition, e.g., cheaper trips for regular customers while improving the wholesome
experience of each trip

Develop new products: HappyEats, HappyRest, etc.

Add complementary value propositions (e.g., Guide Insurance, new customer segments, Customer Incentives etc)

Develop, add to and refine the loyalty / rewards programs

Reduce churn on guide and guided side

Analyse the data to fine-tune everything

IX. Costs

1. Cost of Revenue – Insurance Expenses, Credit Card Processing Fees, hosting and co-located data center expenses,
mobile device and service expenses.

2. Sales and Marketing – Advertising Expenses, Consumer Acquisition and retention expenses – Discounts,
promotions, refunds and credits, referrals, overheads.

3. Research and Development – Development of the App, Establishing prototypes, Clothing and Brand designs,
Maintenance and ongoing improvements, Partner Program Development Expenses etc.

4. General & Admin – Stock-based compensation for executive management and admin employees