CT_Deck_Jun2016
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This document is a pitch deck for CodersTrust, an online education platform that provides learning and job opportunities for lower-skilled freelance workers. It summarizes CodersTrust's model of using personalized online learning paths and 24/7 support to help individuals like Ella in Bangladesh upgrade their skills and increase their earnings. CodersTrust collects data on student performance and tracks earnings to minimize costs and drop-out rates over time. The goal is to scale the model through data-driven decisions and financing from investors, impact funds, and student commissions to provide global access to education and employment.
CT_Deck_Jun2016
- 1. PITCH DECK JUN 2016 Student Finance for the Online Labor Force of Tomorrow
- 2. Meet Ella She is a Data Entry level freelancer from Bangladesh working for $2/hr on freelance portals like Upwork and Freelancer
- 3. Ella is one of millions of Data Entry level freelancers that struggle in a highly competitve and low paying market Average Hourly Rate Average number of applicants $10/hrs $15/hrs $20/hrs $25/hrs $30/hrs $5/hrs $1/hrs 0 20 applicants 40 applicants 60 applicants 80 applicants 100 applicants 10 applicants 5 applicants 0 Data Entry Job Landing Page Job Web App Job Mobile App Job
- 4. She is limited by being in the lowest tier of a booming online freelance market. 20132012 2014 2015 2016 2017 2018 2019 20202011 160M 9M Total jobs created on online labor markets Jobs within the IT & Programming category
- 5. When companies have job openings they cannot fill, it costs them money. OBAMA SEP 2015 “ But Ella is not part of the future of high earning employment. 600K 42K Open computing jobs currently in the US. Computer Science students that graduated in the US last year.
- 6. So, what did Ella do?
- 7. She decides to join to CodersTrust's Learn & Earn platform. https://coderstrust.com/app CodersTrust FeaturesHow it works Login Start free trial Connections Settings Sign out Learn Profile Classes Financials Support Ella Siddique Dhaka, Bangladesh 85 reviews Block 1: Build your first website using HTML 1 of 25 steps complete Introduction Get a brief introduction about this block and what you’ll be learning and why Play intro video Section 1 3 / 3 Introduction to HTML: Complete the following in the CodeCademy course HTML/CSS Section 2 3 / 3 Learn the basics of HTML: Complete the following in the CodeSchool course Front-end foundations Current learning block Completed learning blocks
- 8. Ella upgrades her skills with a personalized learning path. + World Class Content Integrated Learning Technical Skills + Soft Skills + Freelancing Skills Build your first website using HTML Style your about me page using CSS HTML Skill Assessment Professional Client Communication Business and Technical English U.S. English Basic Assessment Branding yourself on Upwork Upwork Readiness Test Convert Cover Letters To Interviews
- 9. And she gets 24/7 online support for her learning and earning. Conversation with Ella Hi there! I had questions in regards to my html5 project in block 2? 😓 Thank you! 😃 Hi there! How can we help you today?! 😀 Don’t worry! Let me connect you to one of our super Code Mentors. They’ll be able to help you out 😉 Hi Ella! My name is Taulant, one of the Code Mentors! How can I help you in your assignment? CodersTrust Team Ask us anything at anytime. Online support is available 24/7/365. Start a conversation…
- 10. And in return for her education, Ella only pays 10% of her future earnings to CodersTrust. Earnings from student are being tracked real-time through APIs CT Ela earns $100 on Upwork Ela receives $90 CodersTrust receives $10 Payoneer ensures fast and secure transfers in the cloud at a reduced cost. Payoneer is integrated with all freelancer portals in all emerging markets. All students are added to CodersTrust’s partner account allowing for a seamless and fast payment experience.
- 11. Just like Ella, imagine if every individual regardless of their age, gender or social background had the opportunity to financially empower themselves.
- 12. Well, with CodersTrust they finally do.
- 13. We fulfill the IT talent shortage by financing lower-skilled freelancers and providing them access to our Learn & Earn platform. 160M Total jobs created on online labor markets Jobs within the IT & Programming category Workforce within IT & Programming Lower skilled freelancers who make up close to 60% of the online workforce.
- 14. This talent shortage coupled with the boom in freelancing enables a large market of struggling freelancers and IT graduates for CodersTrust TAM $7.1B 2021 SAM $2.3B SOM $133M 5.7% TAM $2.5B SAM $914M SOM $818K 0.5% 2016 TAM = Total Available Market SAM = Serviceable Available Market SOM = Serviceable Obtainable Market
- 15. This market is being targeted through various low cost acquisition strategies. Newspapers, TV & bloggers Brand Equity Press coverage in trusted media outlets, in countries such as Bangladesh, has proved to be an effective and cost efficient student acquisition strategy . These outlets have also been imperative in gaining public trust and shifting paradigms in various markets, really feeding our brand equity for the past three years. PR / Media Outlets Local Partners We expand our reach by forming partnerships with local entrepreneurs, cyber cafes, universities and IT training companies, and provide them the opportunity to bring our Learn & Earn platform to their own communities. Franchise / Agency Revenue Share Local partners receive a share of all revenues and commissions generated from their acquired students. Job Posting & Facebook We have daily job posts on over 10 freelancing and job portals. In addition, we target the same segment through targeted FB Ad campaigns that also leverage our 200K FB community. Activation Team Once these campaigns drive traffic to our website, our 24/7 energetic Student Affairs team converts them into students during the 14 day trial. Growth Hacking
- 16. What makes us confident that we have the right solution?
- 17. WE TRIED. WE FAILED. WE LEARNED.
- 18. And with that experience, we’ve hit major milestones up until today. 20K Applicants 1,014 Students 24% Drop-Out Ratio JUN 2016 Launch of online platform APR 2016 1st Online Batch of students MAR 2016 Launch in India JUN 2016 Launch in Bhutan with Govt. SEP 2015 Rockefeller Project Kenya JAN 2015 Loan product launched with Bank Asia AUG 2014 Launch with first 20 students JAN 2014 CodersTrust Bangladesh Established APR 2016 Reached 1,000 students APR 2016 Partnerships Payoneer, CodeSchool & Udemy MAR 2016 10 Centre expansion BRAC DEC 2015 Worldbank Project Kosovo JUN 2015 UNDP Project OCT 2014 1st Learn & Earn Centre JUN 2014 JV with Grameen Bangladesh $90 Student Income /mo avg. after 4 months $300 Student Income /mo avg. after 9 months
- 19. Our best practices from the last 3 years have all been consolidated into our Learn & Earn platform. We’re ready to scale and capture massive amounts of data. 24+ Different Countries /sign up $2 Student Acq. Cost Tracked daily 4,000+ Data sets collected 80+ Daily Sign ups Metrics since launch of our Learn & Earn platform on June 17th, 2016
- 20. Digital footprints and other data sets are being collected & tracked for Big Data purposes. Freelance Profiles Upwork e-Learning Profiles Codecademy Social Profiles Google Telco data e-Learning Profiles CodeSchool / Pluralsight Social Profiles Twitter Social Profiles Facebook Freelance Profiles Freelancer e-Learning Profiles Udemy Banking data Freelance Profiles Fiverr CodersTrust
- 21. Big Data allows us to make smart data driven decisions benefiting the whole ecosystem. Selection Criteria Credit Scoring Activity KPIs Learn Improv. Financial Products Job Matching Earn Improv. Online Ops
- 22. In the next 6-12 months, we'll have enough data to identify Good, Average, and Bad performing students. 12 mo. $ Accumulated Student Value 0 Similar Data Patterns - Min. 20 hrs/week tracked - English score 60% - HTML/CSS score 35% - Logical Score 70% Similar Data Patterns - Max. 3 hrs/week tracked - English score 30% - HTML/CSS score 35% - Logical Score 20%
- 23. Collecting massive data sets will allow us to minimise drop out, reduce unit costs and increase student earnings and hence fund the education of low-skilled freelancers at scale 12 mo. 24 mo. 36 mo. 48 mo. $ Accumulated Student Value 0 Unit Costs 1,000 Students $50 / month Drop: 65% over 3Y CT Earning: $2K Unit Costs 10,000 Students $25 / month Drop: 56% over 3Y CT Earning: $2.2K Unit Costs 100,000 Students $13 / month Drop: 41% over 3Y CT Earning: $2.4K
- 24. As the unit costs decrease, more and more innovative methods of financing can fund the scale up. $ Accumulated Student Value 0 Equity Investors Debt FinancingImpact Investors Student Commissions
- 25. Bridge Investment - Q3 2016 Investment usage in 3 main areas Product Dev. Student Acq.Online Ops Team $150K Min. Investment 12 mo. Runway 2,500 # of Enrolled Students $800K Bridge Investment
- 26. Frequently Asked Questions when looking at our company 1/3 How are you coping with a classroom mindset in developing countries? Put simply: by targeting the right people. After receiving over 20 000 applications in the past two years, we’ve learned that almost all struggling freelancers have access to internet and a computer, and also they are very open to do their learning and earning online. That’s why it’s much easier for them to adapt to our personalized online learn and earn path. Initially we were anticipating more resistance on this aspect, but now our experience tells us otherwise. Also, when you look at the facts alone, an online student receives more than 20 times more support and attention from mentors as opposed to when they are in a classroom. State of the art technology - in both e-learning and e-communication tools - has allowed us to be be the closest we’ve ever been with our students around the clock. Who is paying when the student drops out? Cost per month decreasing on scale. Break even earlier.
- 27. Frequently Asked Questions when looking at our company 2/3 How can you ensure that the drop out will not be too high? We can’t. We are saying let the drop out rate be 50% in the first three months. We have managed to minimize our initial costs in a way that enables us to solely focus on collecting as much data as possible. And that makes it easy for us to identify the quality of the students. Once we have established a bulletproof student selection process that is backed by months of data, then we’ve automatically solved the drop out issue from the inside out. Why is the student not financing the initial learning period? Because that completely defeats the purpose of why we exist. We are here to destroy all barriers that exist for anyone in having access to world class education and finance is naturally the biggest barrier of all! The 10% model ensures three things: 1) we stay true to our core pinciples, 2) the scalability of our model on a global level and 3) it direclty aligns our incentives with those of the students. So they more they win, we win.
- 28. How can you ensure the student is paying the 10%? 3/3 There are two answers to this answer. Firstly, the 10% model is communicated as a "10% gifting model" to all students. If a student proves to us that they are determined and hard working enough in the trial period, then we'll finance their education. And as part of the repayment, we give them the chance to gift 10% of their future earnings to provide the same opportunity for someone else in their community. So we've seen again and again that any student with a bit of human decency loves this model and feels empowered to keep contributing in the long run. This model makes our mission about them and not us and that's where the magic happens. But secondly, if you are sceptical on the latter point, by the time a student starts earning consistently (2-3 months into the Learn & Earn platform), we build so much rapport and provide so much unprecedented value for them through our three online support teams (Talent Affairs, Code Mentors, Career Advisors), that they would justify the 10% as a fee for all the support. If they don't pay, the 24/7 support and platform will be taken away from them. Simple as that.
- 29. Experienced team of 55 people from 22 different nationalities Ferdinand Kjærulff CEO and Co-founder linkedin.com/in/ferdinandkjaerulff Giovanni Toschi CBDO linkedin.com/in/giovannitoschi Josiah Mangiameli Head of Product https://www.linkedin.com/in/ josiah-mangiameli-55781131 Jan-Cayo Fiebig COO and Co-founder linkedin.com/in/jancayofiebig Mehran Najafi CMO linkedin.com/in/najafimehran Mendim Mestani CTO linkedin.com/in/mendim-mestani-bb6b4996 15 x Code Mentors 7 x Career Advisors 6 x Student Affairs 8 x Developers 8 x Growth Hackers 5 x Finance / Legal / Admin3 x Content Builders
- 30. High Profile Investors and Advisors Morten Lund Founded or co-invested in more than 100 high-tech start ups in the last 15 years, including Skype. Amar Duggal Previous founder and CEO at Pyxis Solutions, LLC Viling Ventures The investment arm of Japanese educational business company Viling Holdings. Godrej Family The Godrej family manages and largely owns the Godrej Group, a conglomerate spanning various sectors. Anirban Das Gupta Founder and CEO at Nexim, Bangladesh. Stig Abildsø Successful Danish entrepreneur, owner of THORNICO A/S. SXE VENTURES SXE VENTURES is a Hong Kong based seed and early stage venture fund. Kotaro Yamagishi Co-founded GREE in December 2004, and serves as the Company's director. Lone Fønss Schrøder Co-Founder of PGU Norfalck, Senior Advisor at Credit Suisse and Chairman in Sweden of Volvo PV AB. Segnel Ventures Venture capital firm based in Singapore, supporting entrepreneurs within South Asian / South East Asian region. Jaarvis Focus on building innovative tech-enabled solutions, whether they be marketplaces or products.