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Craigslist Foundation   Kiva Presentation
 

Craigslist Foundation Kiva Presentation

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Craigslist Foundation   Kiva Presentation Craigslist Foundation Kiva Presentation Presentation 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!
    • Discounted pricing
    • MySpace fundraising widget
    • ATM/Debit Card solution for Int’l
    Non-profit channel
    • Free Google Checkout
    • Free Adwords
    • Non-profit channel
    • Build your own page and recruit friends
    • Free / discounted technology
    Free licenses
  • “ Actionable” Takeaways # Web 2.0 Principle Actionable Takeaway 1 “ Addictive” donor experience
    • Make it “Easy”:
      • Show me photos of atomic units
      • Allow / encourage $1 contributions
    • Make it “Fun”:
      • Photo upload is the 80/20
      • User testimonials
      • Build community + competitions
    2 “ Radical Transparency”
    • Start a blog
    • Admit imperfection every step of the way
    • Let people contribute w/o paying for you
    3 “ Crowdsource” against constraints
    • Hard time getting traction in the beginning?
    • Ink is cheap: Build a huge advisory board
    • Evite: permission based marketing tool
    • Rally college students and recent grads