Third Revolution OAP


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Third Revolution OAP

  1. 1. Third RevolutionOpportunity Analysis Project05/20/12
  2. 2. OAP Objective● Test our value proposition with potential customers, freelancers and startup founders● Estimate the market size of online freelancing sector● Gain more information about target customers● Determine whether opportunity is worth pursuing
  3. 3. Third Revolution● Web-based platform (website, mobile app)● Incorporates features of Expedia, Match, and LinkedIn● Captures new market that currently has exploding growth● Five primary features: 1) Aggregator 2) Recommendation engine 3) Collaborator search 4) Team formation and development 5) Collaboration tools and resources
  4. 4. Freelancing Market: Large &Growing● Still in its infancy● Potential market size ○ Billions of dollars/yr in US+UK alone (WhichLance) ○ Projected to increase from $250 million in 2009 to $2 billion dollar by 2015 (Evalueserve) ○ Total spending in 2010 by top 10 sites: $360.14 million (Whichlance) ○ Payment volume in top 5 sites doubling each year (Andy Singleton)● We estimate total market = $1.1 billion & 80%/yr
  5. 5. Market size: Number ofcustomers● # of active service providers on top sites: 710K+ and growing● # of buyers per quarter on Elance alone: 115K+ and growing Number of hours worked through oDesk by month since 2003
  6. 6. Increase in quarterly billingsduring 2010Freelancer, Elance, PeoplePerHour and oDesk
  7. 7. Our survey of 51 peoplefound
  8. 8. Our survey of 51 peoplefound
  9. 9. Our survey of 51 peoplefound
  10. 10. Third Revolution fills criticalmarket needs● Market wants a site where one can locate partners / collaborators for startup ventures● Single site with aggregated freelancers● Ability to locate projects of interest● Intuitive platform will benefit those lacking in startup experience
  11. 11. Compelling ValuePropositionThe ability to connect people, form and communicateeffectively with a team, support collaboration, and fund yourbusiness venture, maintains momentum in your businessand allows you to move your ideas from conception tovalue generation. Third Revolution is a paradigm changingplatform. From small, one-time tasks to the building andrunning of large ventures, Third Revolution provides thetools and resources while removing the obstacles in orderto get things done and move opportunities to valuegenerating processes.
  12. 12. Compelling ValueProposition
  13. 13. Minimal Competition● No other similar platforms on the market that ○ Aggregate online freelancing sites ○ Emphasize startup team building● Not competing with aggregator sites ○ Mutual benefit through referrals ○ Many have affiliate programs already in place
  14. 14. Key Partners Proportion of quarterly billings of leaders in online freelancing market in Q1 of 2010● Elance and oDesk together accounted for ~75% of billings in Q1 of 2010
  15. 15. Business Model ● Free to register/browse jobs aggregated from 3rd party sites ● Referring an... ○ active employer (i.e. startup founders looking to hire): $6.64 - $100 per referral (+ residuals*) ○ active worker: $0.50 - $69.46 (+ residuals*) ○ ranges include oDesk, Elance, vWorker, Guru, Freelancer, Scriptlance, LivePerson affiliate programs ● Additional income through advertisements and enabling preferred placement job postings* extra money we make every time that employer/worker does business through that site again
  16. 16. Sales & Marketing● Majority of users from online marketing ○ Online advertising (Google Ads, Facebook ads ○ Social networking media, blogs● Additional prospects through offline marketing ○ print media, radio sponsorship (tech events, business seminars), etc.● Effective platform to maximize ease-of-use and customer retention
  17. 17. Management● Team Leader: ○ Andrew Dennis● Group leads: ○ Aliz Rao (UI / Frontend) ○ Olga Opojevici (Business) ○ Sotee Loey (Backend) ○ Don Voltz (Recommendation Engine / Aggregator)● Active team of 30 members ○ Ph.D.s, M.D.s, programmers, developers, marketers, scientists, and other professionals
  18. 18. Thank you