speek - starting up like biggie smalls - rutgers business school

24

Upload: danny-boice

Post on 08-May-2015

500 views

Category:

Technology


4 download

DESCRIPTION

The deck from the talk I gave on January 13, 2014 at the Rutgers Business School Scarlet Startups event.

TRANSCRIPT

Page 1: Speek - Starting Up Like Biggie Smalls - Rutgers Business School
Page 2: Speek - Starting Up Like Biggie Smalls - Rutgers Business School

Hi, my name is Danny Boice

I am the Co-Founder & CTO of Speek

I am from Washington, DC

I love rap music

I hate conference calls

Page 3: Speek - Starting Up Like Biggie Smalls - Rutgers Business School

Conference Calls Suck

Speek makes Conference Calls Fast & Easy

We make money using the Freemium model (more about this later after Biggie Smalls)

Page 4: Speek - Starting Up Like Biggie Smalls - Rutgers Business School

Speek has raised $5 Million

We have hosted over 300,000 callers

For over 10,000,000 minutes

We are growing around 50% monthly

Speek is 1 1/2 years old

Page 5: Speek - Starting Up Like Biggie Smalls - Rutgers Business School

Biggie is going to tell you how we started up now.

Page 6: Speek - Starting Up Like Biggie Smalls - Rutgers Business School

"It was all a dream.."

Page 7: Speek - Starting Up Like Biggie Smalls - Rutgers Business School

"Call the crib, same number, same hood, and it’s all

good."

Page 8: Speek - Starting Up Like Biggie Smalls - Rutgers Business School

"We used to fuss when the landlord dissed us."

Page 9: Speek - Starting Up Like Biggie Smalls - Rutgers Business School

"Mo Money Mo Problems"

Page 10: Speek - Starting Up Like Biggie Smalls - Rutgers Business School

"F—ck it, I didn’t wanna go to heaven anyway."

Page 11: Speek - Starting Up Like Biggie Smalls - Rutgers Business School

"Got introduced to the game, got an ounce, and f—

ckin’ blew up."

Page 12: Speek - Starting Up Like Biggie Smalls - Rutgers Business School

"I’m living everyday like a hustle. Another drug to

juggle, another day another struggle."

Page 13: Speek - Starting Up Like Biggie Smalls - Rutgers Business School

"Blowin' up like you thought I would"

Page 14: Speek - Starting Up Like Biggie Smalls - Rutgers Business School

Any Questions Thus Far?

Page 15: Speek - Starting Up Like Biggie Smalls - Rutgers Business School

The Business of Speek

Page 16: Speek - Starting Up Like Biggie Smalls - Rutgers Business School

Freemium

Page 17: Speek - Starting Up Like Biggie Smalls - Rutgers Business School

Definition of Freemium:

A business model by which a proprietary product or service is provided free of

charge, but money (premium) is charged for advanced features, functionality, or virtual goods.

Page 18: Speek - Starting Up Like Biggie Smalls - Rutgers Business School

It's kinda like selling crack.

Page 19: Speek - Starting Up Like Biggie Smalls - Rutgers Business School

Why Freemium?

• No friction - get user "hooked" • Free registration for all - the more the merrier• Maximize virality - even your active free

users generate more users just by using Speek

• Speek is disrupting a space where the incumbents are free

• The math works• Confidence in conversion to premium

Page 20: Speek - Starting Up Like Biggie Smalls - Rutgers Business School

Freemium is NOT a 30 day free trial

Page 21: Speek - Starting Up Like Biggie Smalls - Rutgers Business School

Speek Freemium

• Freeo Your own speek link (speek.com/danny)o Conference calls w/ up to 5 callers

• Premiumo More than 5 callers on a callo File sharingo Commentingo Call recordingo Co-branding (YourCompany.speek.com)

Page 22: Speek - Starting Up Like Biggie Smalls - Rutgers Business School

Some Interesting Metrics

• We convert 20% of our home page visitors to register

• AdWords-originating users are half as "sticky" as organic / viral conversions

• We convert 5% of our active free users to paid

• 20% of first time / non-registered callers who join a speek call register immediately after that call

o These users rarely churn

Page 23: Speek - Starting Up Like Biggie Smalls - Rutgers Business School

The Smile Graph

Page 24: Speek - Starting Up Like Biggie Smalls - Rutgers Business School

Any Questions?