Craigslist Foundation Kiva PresentationPresentation Transcript
‘ Succeeding’ as an Emerging Social Entrepreneur Craigslist Foundation Bootcamp Premal Shah President Kiva www.kiva.org "Revolutionising how donors and lenders in the US are connecting with small entrepreneurs in developing countries”
Kiva 101 Internet Lender Online marketplace Local Partner (MFI) Entrepreneur Money Information
+345,000 social investors have lent + $45 million in first 3 years.
Other Key Stats
Growth: $1M loans every 10 days.
Risk: +97% repayment rate.
Recycle Rate: 65% repayment rate.
NGO Network: 105 NGOs in 45 countries. Growing 3 a month.
Traffic: 700,000 visitors last month
Organization: 35 employees / +400 volunteers
Efficiency: Platform raises $8 in loans for every $1 donated.
5 yr goal = $1 Billion
Kiva applies 3 “Web 2.0” principles to philanthropy
Create an “ Addictive ” Donor Experience
Be “ Radically Transparent ”
“ Crowdsource ” against constraints
Create an “Addictive” User Experience
“ Addictive” = Easy + Fun
How Kiva tries to make it “Easy” Designed for everyday people, not affluent experts See your impact in human terms Low cost to entry Quick and easy checkout
How Kiva tries to make it “Fun” Rich user generated content, changing fast... Loans are fully funded in hours Transactions happen every 18 seconds… Real time un-edited updates… Randomized “1 minute of fame “ + Lending Teams…
For some, Kiva is becoming very addictive!
Be ‘Radically Transparent’ Transparency Authenticity Trust
Kiva and Radical Transparency Paying for Kiva’s overhead is an explicit choice
Kiva and Radical Transparency Data inaccuracy and defaults are made explicit
“ Crowdsource” against constraints Big constraint? + No resources? = Crowdsource
Kiva and “Crowdsourcing” Kiva Fellows Program How do we train MFIs, gather progress updates and verify data accuracy hyper-fast?
Kiva and “Crowdsourcing” Kiva Translator Program How do we immediately translate entrepreneur profiles from native language to English?
Kiva and “Crowdsourcing” We have little money, but great partners!