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Third Revolution OAP

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  • 1. Third RevolutionOpportunity Analysis Project05/20/12
  • 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. 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. 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. 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. Increase in quarterly billingsduring 2010Freelancer, Elance, PeoplePerHour and oDesk
  • 7. Our survey of 51 peoplefound
  • 8. Our survey of 51 peoplefound
  • 9. Our survey of 51 peoplefound
  • 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. 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. Compelling ValueProposition
  • 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. 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. 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. 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. 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. Thank you

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