Bakkt, Inc. · NYSE:BKKT
Bakkt — VPC Impact Acquisition Holdings — SPAC Merger (June 2021)
25 slides from Bakkt's SPAC merger presentation, Jun 10, 2021
Slide 1: 06.09.21
06.09.21 CONFIDENTIAL AND PROPRIETARY 1
Slide 2: Important Notice: Disclaimer
IMPORTANT NOTICE Disclaimer This confidential investor presentation (this “Presentation”) is being delivered for informational purposes only to assist interested parties in making their own evaluation with respect to the proposed business combination (the “Business Combination”) between VPC Impact A
Slide 3: Important Notice: Forward-Looking Statements
IMPORTANT NOTICE Forward-Looking Statements Certain statements in this Presentation may be considered forward-looking statements. Forward-looking statements generally relate to future events or VIH’s or Bakkt’s future products and financial or operating performance. For example, projections regardin
Slide 4: Important Notice: Use of Projections
IMPORTANT NOTICE Use of Projections The projections and estimates in this presentation are assumptions that are inherently subject to significant uncertainties and contingencies, many of which are beyond Bakkt and VIH’s control. Such projections and estimates are included for illustrative purposes o
Slide 5: We're connecting the digital economy
OVERVIEW THE SOLUTION We’re connecting the digital economy. Invest. $1.6+ trillion Convert. in digital assets that consumers Spend & Pay. can’t easily manage. Send. Redeem. SEE ALL IN ONE PLACE UNLOCK VALUE ACROSS ASSET TYPES USE IN EVERYDAY LIFE CONFIDENTIAL AND PROPRIETARY 5
Slide 6: Possibilities: Buy crypto
OVERVIEW POSSIBILITIES Buy crypto. 6
Slide 7: Possibilities: Convert into cash
OVERVIEW POSSIBILITIES 165,000 points Convert into cash. 7
Slide 8: Possibilities: Redeem airline miles
OVERVIEW POSSIBILITIES Redeem airline miles for . 8
Slide 9: Possibilities: Send friends
OVERVIEW POSSIBILITIES Send friends. 9
Slide 10: Possibilities: Access at scale
OVERVIEW POSSIBILITIES Access at scale. 10
Slide 11: We're unlocking value across the ecosystem
OVERVIEW VALUE PROPOSITION We’re unlocking value across the ecosystem. Unlock captive Drive loyalty Access digital consumer among asset markets spending power consumers and at scale businesses Backed by a secure, regulated platform CONFIDENTIAL AND PROPRIETARY 11
Slide 12: We serve three types of customers
OVERVIEW ECOSYSTEM We serve three types of customers. Institutions Consumers Businesses Merchant partners looking Require secure access Seeking access to to increase customer to digital asset locked value so they loyalty, expand markets at scale can manage, spend, relationships, and transact and sen
Slide 13: The key: our secure and scalable platform
OVERVIEW ECOSYSTEM The key: our secure and scalable platform. Consumers Businesses Institutions Digital Asset Marketplace Loyalty Redemption Alternative Payment Methods Bakkt Warehouse Partner Apps Bakkt Branded App and Ecosystems Bakkt platform INVEST CONVERT SPEND & PAY SEND REDEEM CONFIDENTIAL AN
Slide 14: The Serviceable Addressable Market is large and growing
OVERVIEW WHY NOW? The Serviceable Addressable Market1 is large and growing . . . (1) Serviceable Addressable Market. Dollar ($) amounts represent notional amounts, not aggregate revenue. (2) Allied Market Research. (3) 2020 estimate based on CoinMarketCap, Global crypto market cap as of December 14,
Slide 15: What makes us better
OVERVIEW COMPETITIVE EDGE What makes us better: Powerful Cost and ease Digital asset and growing of use of the native ecosystem Bakkt platform Secure and regulated platform Custody and trading backed by ICE CONFIDENTIAL AND PROPRIETARY 15
Slide 16: One platform, many experiences
OVERVIEW PLATFORM APPROACH One platform, many experiences. BAKKT EXPERIENCE PARTNER-LED EXPERIENCE Full suite of capabilities Fully embedded Partially embedded Capabilities embedded in Bakkt branded app in partner platform in partner platform on partner platform Bakkt platform INVEST CON SPEND & PAY
Slide 17: One platform, many value propositions
OVERVIEW HOW WE’LL GROW One platform, many value propositions. FOR INSTITUTIONS FOR CONSUMERS FOR BUSINESSES Secure crypto Unlock value of Lower cost of acceptance custody captive assets Increased conversion Regulated futures Digital asset and engagement & options aggregation and increased spending
Slide 18: Bigger ... and bolder
OVERVIEW HOW WE’LL GROW Bigger ... and bolder. CAPABILITIES SCALING THE PLATFORM Grow users WHAT’S NEXT Digital Asset Marketplace International Increase usage and adoption expansion NFTs More partnerships Loyalty Redemption Connected loyalty ecosystems Build new products and features Powering Centra
Slide 19: Adding new partners and deepening with existing
GO-TO-MARKET STRATEGY OPPORTUNITIES Adding new partners — and deepening with existing. FINANCIAL PLATFORMS TRAVEL & INSTITUTIONS & PAYMENTS ENTERTAINMENT RETAIL 200+ gift card Partnerships with merchants include leading financial Home Depot, Xbox, institutions including Subway, Uber and Bank of Amer
Slide 20: Diverse revenue streams
FINANCIALS PILLARS Diverse revenue streams. CONVERSION CRYPTOCURRENCY SUBSCRIPTION & FEES & SPREAD BUY & SELL PLATFORM FEES Partner Revenue Revenue spread integration and spread earned earned on platform fees on conversion cryptocurrency for leveraging activity trades Bakkt capabilities CONFIDENTIAL
Slide 21: Driving growth through a multitude of channels
FINANCIALS PROJECTED USER GROWTH Driving growth through a multitude of channels. LEVERAGING OUR PARTNER NETWORK . . . . . . WE ADD PARTNERS AND USERS 31M Expand Onboard offerings to partners to consumers & platform businesses Embed capabilities Grow users in their through partner ecosystems channels
Slide 22: Focused investment plan
FINANCIALS INVESTMENT PLAN Focused investment plan. Investment focused on No additional Cost structure data and investment advantage, analytics Significant anticipated to leverage ICE capabilities, Ability to flex relationship variable cost operating achieve engineering leverage positive cash and si
Slide 23: Closing key themes
CLOSING KEY THEMES Tapping into large unmet Bakkt platform as the enabler need across digital assets across consumers, businesses and institutions Digital asset native and Diverse revenue streams and secure by design as multiple pathways to growth advantages to build scale CONFIDENTIAL AND PROPRIETA
Slide 24: Thank You
Thank You 24
Slide 25: Appendix: Risk Factors Summary
APPENDIX: RISK FACTORS SUMMARY 1. Bakkt’s business model is newly developed, untested and continually evolving and may encounter additional risks and challenges as it grows and changes. 2. Bakkt’s platform is still under development and is largely untested. Any failure by Bakkt to successfully execu
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