speek - starting up like biggie smalls - rutgers business school
DESCRIPTION
The deck from the talk I gave on January 13, 2014 at the Rutgers Business School Scarlet Startups event.TRANSCRIPT
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
Conference Calls Suck
Speek makes Conference Calls Fast & Easy
We make money using the Freemium model (more about this later after Biggie Smalls)
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
Biggie is going to tell you how we started up now.
"It was all a dream.."
"Call the crib, same number, same hood, and it’s all
good."
"We used to fuss when the landlord dissed us."
"Mo Money Mo Problems"
"F—ck it, I didn’t wanna go to heaven anyway."
"Got introduced to the game, got an ounce, and f—
ckin’ blew up."
"I’m living everyday like a hustle. Another drug to
juggle, another day another struggle."
"Blowin' up like you thought I would"
Any Questions Thus Far?
The Business of Speek
Freemium
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.
It's kinda like selling crack.
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
Freemium is NOT a 30 day free trial
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)
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
The Smile Graph
Any Questions?