Social Enterprise Conference 2012 Matt BarriePresentation Transcript
TheNextBigThingMatt BarrieCEO & Chairman You are hereFreelancer.comemail: email@example.com: @freelancer
The other70%of the world’spopulation areabout to jointhe Internet.
It’s 2011. World Population 6,970,000,000 Number on the Internet 2,080,000,000 (30.0%)Source: Internet World Stats & United Nation
Worldwide Internet Penetration 2011 North America Europe 266 million users 475 million users 77.4% penetration 58.4% penetration Asia 825m (of 3834m) 21.5% penetration Africa 110m (of 1014m) Latin America 10.9% penetration 204m (of 592) 34.5% penetration
Worldwide Internet Growth 2000-2010 Africa 2357% Middle East 1825% Latin America / Caribbean 1033% Asia 621% World, Avg 445% The other 5,000,000,000 Europe 352% people are coming Oceania / Australia 179% North America 146% 0% 500% 1000% 1500% 2000% 2500%
81% of Users of top sites outside USA
More Chinese in 3y than the whole of USA
The other 5 billionare on an average wage of $10 or less per day
The first thing they aredoing is looking to raise their economic status.
And it’s never been easier to learn a trade.
Free Stanford Course in AI. Over 170,000enrolled, 8x thetotal number of students at Stanford.
Simultaneouslyevery industry is now digitised.
The World is Flat.
The World is Flat.
The World is Flat.
What does all this mean?What does this all mean? Goods Services Today Tomorrow
The World is Flat.The World is Flat
We are the global labor exchange Empowering Entrepreneurs. Globally.
In the west, we provide the productivity tool to assist those with a spark of an idea turn it into reality.
In emerging economies, weempower entrepreneurs tostart service organisations.
Freelancer.comWhat we do ➔ We provide the labour force that will enable the western world to power into a digital economy. ➔ We deliver jobs to emerging economies, in technical areas, that are desperately needed, at fantastic rates of pay. ➔ And we can do so delivering serendipity to both parties due to the huge wage gap.
Freelancer.comFreelancer Globally ➔ Started in 2004 ➔ World’s largest outsourcing marketplace ➔ ~ 3,500,000 users from >234 countries/regions ➔ ~ 1,600,000 posted projects to date ➔ ~ $130,000,000 spent through site to date, roughly equivalent to saving western businesses $500m to $1b in costs.. in $200 projects.. ➔ In top 300 websites globally (Alexa)
Peaked in top 200!Top 300 websites worldwide.Up from 5,000 two years ago.
Freelancer.com is hugein the developingworld.Now ranks 21st inBangladesh(155m population) Below: Amazon.com Apple.com MSN.com Bing.com BBC Etc..
The Online Economy
Freelancer.com “If I just have the spark of an idea now, I can get a designer in Taiwan to design it. I can get a factory in China to produce a prototype. I can get a factory in Vietnam to mass manufacture it. I can use Amazon.com to handle fulfilment. I can use freelancer.com to find someone to do my logo and manage my backroom. And I can do all this at incredibly low prices. The one thing that is not a commodity and never will be is that spark of an idea.” “America’s Dream Team” (Tom Friedman) New York Times Editorial 2010
Freelancer.comHow it works ➔ As simple as eBay ➔ Post a Project (FREE!) ➔ Review bids (60-80 on average), ask for samples ➔ Pick one or more Freelancers ➔ Set up Milestone Payments ➔ Only release funds when the work completes are you are 100% happy!
Instant hire! Can see performance, skill sets.
Can see complete history of work, payments, feedback & ratingCertifications
Small Business Owner Need aWant better Website packaging Need some new brochures Sell more! Need to find a manufacturer for new product Need to redesign my showroom
Things I bet you didn’tknow you could outsource
280 choices for $290!Design a Logo
iPhone App .. for MangaUS $1300 18 Bids
Design a fully functional Dune Buggy I can drive at 30km / hourUS $268 36 Bids
US $270 Wifi powered lawn sprinkler that accepts changes from & reports to Twitter / Android / iPhone / Web
US $270 Marketer for an iPhone application in Korea!
Architectural drafting of a carwash and cafeUS $176 39 Bids
Mathematical modelling for chemical engineeringUS $251 13 Bids
Underpantsmanufacturer for kidswith autism
Compose a rap song to help Chinese students learn EnglishUS $157 3 Bids
US R&D firm needing help with hydrogen engine designUS $484 14 Bids
Who is bidding? Pakista Pakista UK degree, 2yr n n exp. German Uni student y India Indian company Banglades Banglades Chemical engineer h h
2660 Suggestions !Lets have some fun..
441 EntriesWhat happens when wepump $25,000 into this?
What does this all of this mean? It’s never been easier toassemble an army to help you.
What does this all of this mean?It’s never been a better time to start a company.
What does this all of this mean? Every business today is an Internet business.
What does this all of this mean?All this stuff is free.
Virtualised computer.. Only this computer is a hotel reservation system! • PBX • Hotel Reservations • Wifi • Minibar • MoviesFree!
What does this all of this mean?All this stuff is cheap.
What does this all of this mean?All this stuff is cheap. Even if none of this stuff makes sense to you, freelancers can put it together for you.. cheap!
What does this all of this mean?You can start a company off a credit card
What does this all of this mean?A new class of Venture Capital has arisen
What does this all of this mean?Digg.com • Outsourced original software for $60 • $6000 to get site all up and running • $1200 for domain and 12 months hosting Offer from Google for $200 million 4 years later
What does this all of this mean?PCTools / Spyware Doctor • Outsourced original software for $1000 • Bootstrapped to profitability • Raised financing only at very late stage Sold to Symantec for $300 million 6 years later.
What does this all of this mean?RetailMeNot.com • Built with $30 in one weekend • Bootstrapped to $30m in revenues Sold to WhaleShark for $90 million 5 years later.
What does this all of this mean?Omnisio • Initially funded $20,000 by Y Combinator • No further financing Sold to YouTube for $15 million 4 months later.
Internet Scale • 350m users in 6 years • 800m users in 8 years • 100m users in 45 days?!?
Internet Scale Growth 2% of.. The Internet. Alexa rank #16 in the US
Internet Scale Revenue • Founded in July 2007 • Financed in July 2008 • Makes silly flash games • 2011 revenue $1.2 billion • Founded Nov 2008 • 2011 revenue $1.6 billion • Spams you deals of the day • WSJ “made $1 billion in sales faster than any other business, ever”
Years to reach $1 billion in revenue
What does this all of this mean? The capital efficiency and growth rates of Internet business models are unprecedented.. in history.
What does this all of this mean? How would your business change if you had access tovirtually unlimited labor at next to no cost?
What does this all of this mean? So what are you waiting for?
What does this all of this mean?Thank you“Freelancer.com is the best thing ever happened in my life.. thanks to this website I am able to pay my school fees in time and not only that, I am paying school fees for my little sibling in primary school. Africa is a third world country (many are below poverty line). I can say my life has changed totally” – Duncan Mwirigi, Kenya “I can tell you loud that you saved my life: I was unemployed 5 years ago, too old to get a good job but too young to retire ... You could return a smile to my old/young face” - Lautaro Lacurcia, Uruguay
Tips on Getting the Best Results ➔ Open your mind. You can outsource anything! ➔ The better you specify the project, the better the outcome you will have. ➔ Don’t always go for the cheapest. Make sure they can do the job first. ➔ Ask for previous work, a portfolio or to do a paid/unpaid trial on some sample items. ➔ Pick people with a high reputation & good feedback. ➔ Don’t pay upfront. Use Milestone Payments.