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Presentation given by Matt at Sydstart 2012

Presentation given by Matt at Sydstart 2012

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  • 1. WelcomeTo theFutureMatt BarrieCEO & Chairman You are hereFreelancer.comemail: matt@freelancer.comtwitter: @freelancer
  • 2. We live in a remarkable period in history..a confluence of macro trends. You are here
  • 3. What does this all of this mean? “Software is Eating the World” – Marc Andreessen
  • 4. What does this all of this mean?Advertising Physical Software
  • 5. What does this all of this mean?Telecommunications Physical Software
  • 6. What does this all of this mean?Retail Physical Software
  • 7. What does this all of this mean?Books Physical Software
  • 8. What does this all of this mean?Scrapbooking Physical Software
  • 9. What does this all of this mean?Notepad & Pen Physical Software
  • 10. What does this all of this mean?Maps Physical Software
  • 11. What does this all of this mean?Search Physical Software
  • 12. What does this all of this mean?Music Physical Software
  • 13. What does this all of this mean?Fashion Physical Software
  • 14. What does this all of this mean?Point of Sale Physical Software
  • 15. What does this all of this mean?Money Physical Software
  • 16. What does this all of this mean?Retail Estate Physical Software
  • 17. What does this all of this mean?Recruitment Physical Software
  • 18. What does this all of this mean?Hang with Friends Physical Software
  • 19. What does this all of this mean?Photography Physical Software
  • 20. What does this all of this mean?Video Physical Software
  • 21. What does this all of this mean?Travel Physical Software
  • 22. What does this all of this mean?Reviews Physical Software
  • 23. What does this all of this mean?News Physical Software
  • 24. What does this all of this mean?Education Physical Software
  • 25. What does this all of this mean?Coupons Physical Software
  • 26. What does this all of this mean?Flea markets & Garage Sales Physical Software
  • 27. What does this all of this mean?Healthcare Physical Software
  • 28. What does this all of this mean?Drug Dealing Physical Software
  • 29. What does this all of this mean?“The Reimagination of Everything” - Mary Meeker
  • 30. The other70%of the world’spopulation areabout to jointhe Internet.
  • 31. It’s 2011. World Population 7,030,000,000 Number on the Internet 2,267,233,742 (32.3%)Source: Internet World Stats & United Nation
  • 32. 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
  • 33. 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%
  • 34. 81% of Users of top sites outside USA
  • 35. Twice as many Chinese than Americans
  • 36. The other 5 billionare on an average wage of $10 or less per day
  • 37. The first thing they aredoing is looking to raise their economic status.
  • 38. And it’s never been easier to learn a trade.
  • 39. Free Stanford Course in AI. Over 170,000enrolled, 8x thetotal number of students at Stanford.
  • 40. Simultaneouslyevery industry is now digitised.
  • 41. The World is Flat.
  • 42. The World is Flat.
  • 43. The World is Flat.
  • 44. What does all this mean?What does this all mean? Goods Services Today Tomorrow
  • 45. We are the global labor exchange Empowering Entrepreneurs. Globally.
  • 46. Freelancer.comFreelancer Globally ➔ World’s largest outsourcing marketplace ➔ Started May 2009 ➔ ~ 4,200,000 users from >234 countries/regions ➔ ~ 2,400,000 posted projects to date ➔ ~ $150,000,000 spent through site to date, $50m turnover in 2012 roughly equivalent to saving western businesses $500m in costs.. ➔ In top 300 websites globally (Alexa)
  • 47. Key Statistics • 180 employees across Sydney, London, Manila, Buenos Aires
  • 48. Acquisitions to Date • Scriptlance.com (Canada) • GetAFreelancer (Sweden) • EUFreelance.com (Europe) • Lime Exchange (USA) • Freelancer Booking Center (Germany) • Freelancer.co.uk (United Kingdom) • Freelancer HK (China SAR) • Freelancer Australia (Australia) • Webmaster Talk (USA)
  • 49. We are in the earlystages of replicating a country in software.
  • 50. Population – 4,130,000 and growing Covering 234 countries, regions and territories
  • 51. Demographics- 20 regional & growing
  • 52. Languages – ~20 by the end of 2012
  • 53. Economy – 2,400,000 Projects so far
  • 54. Economy – Global –
  • 55. Turnover US$ million
  • 56. Workforce - Bangladesh –
  • 57. Workforce - Bangladesh –
  • 58. Workforce - Bangladesh –
  • 59. Workforce - Pakistan –
  • 60. Workforce - Nepal –
  • 61. Workforce - India –
  • 62. Workforce - Philippines –
  • 63. Banking System We are the sole provide of bank accounts to some freelancers in emerging economies
  • 64. Currencies – 13 and growing. FX. US Dollar New Zealand Dollar Australian Dollar British Pounds Hong Kong Dollar Singapore Dollar – – Philippines Peso Euro Canadian Dollar South African Rand Indian Rupee Jamaican Dollar Chilean Peso
  • 65. Traffic vs Competitors Olympics Neglects traffic to our 20 regional domains e.g. freelancer.co.uk
  • 66. Users vs Competitors (Aug 2012)
  • 67. Popularity vs Competitors
  • 68. Design a fully functional Dune Buggy I can drive at 30km / hourUS $268 36 Bids Outsourcing
  • 69. 280 choices for $290!Crowdsourcing
  • 70. Crowdfunding Broke the CSS!
  • 71. “We are becoming Hyper Connected” - Tom Friedman
  • 72. What does this all of this mean? Distribution is unprecedented.
  • 73. What does this all of this mean?Technology adoption is accelerating % of USHouseholds
  • 74. Not so long ago. ➔ In 1900, <10% of families owned a stove, or had access to electricity or phones ➔ In 1915, <10% owned a car ➔ In 1930, <10% owned a fridge or washer ➔ In 1945, <10% owned a dryer or air-conditioning ➔ In 1960, <10% owned a dishwasher or colour TV ➔ In 1975, <10% owned a microwave ➔ In 1990, <10% owned a cell phone or Internet ➔ Today.. more than 90% own all the above.
  • 75. Customers are buying faster
  • 76. What does this all of this mean?Computing mutates as it goes pervasive Desktops, Laptops Mobile Phones, Tablets
  • 77. .. and faster
  • 78. .. and faster!
  • 79. .. and faster!!
  • 80. .. and faster!!! 1000 900 800 700 600 500 400 Facebook (millions of 300 users) 200 100 0 Aug-05 Aug-07 Aug-09 Aug-11 Apr-06 Apr-08 Apr-10 Apr-12 Dec-04 Dec-06 Dec-08 Dec-10
  • 81. .. and faster!!!! 1,600,000 in 3 days 100,000,000 users in 45 days 900,000 in 3 days 30 DAYS
  • 82. What does this all of this mean? Parabolic growthcomes from harnessing distribution firehoses
  • 83. Facebook Firehose
  • 84. Apple Firehose
  • 85. Google Firehose
  • 86. Reddit Firehose
  • 87. Other Unconventional Firehoses
  • 88. Virality. Social. Reviews. Friends. Inviters.
  • 89. What does this all of this mean?Every business today is an Internet business.
  • 90. What does this all of this mean?All this stuff is free.
  • 91. Virtualised computer.. Only this computer is a hotel reservation system! • PBX • Hotel Reservations • Wifi • Minibar • MoviesFree!
  • 92. What does this all of this mean?All this stuff is cheap.
  • 93. 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!
  • 94. What does this all of this mean?You can start a company off a credit card
  • 95. What does this all of this mean?A new class of Venture Capital has arisen
  • 96. 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
  • 97. 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.
  • 98. 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.
  • 99. The DotCom boom is over. Not. 3500 3000 Today. 2500 2000 1500 First dotcom Actual Forecast (Fixed) boom ‘over’. 1000 500 First dotcom boom. 0 1990 2012 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2014 2016 2018 2020
  • 100. 5 Billion Internet Users by 2020 Mobile only Internet Users Internet Users
  • 101. Internet Scale • 350m users in 6 years • 950m users in 8 years • 100m users in 45 days?!?
  • 102. Internet Scale Growth 2% of.. The Internet. Alexa rank #16 in the US
  • 103. 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”
  • 104. Years to reach $1 billion in revenue 10 9 8 7 6 5 4 3 2 1 0 1976 1984 1986 1994 1994 1995 1997 1998 2007 2008 Year of Incorporation
  • 105. What does this all of this mean? The capital efficiency and growth rates of Internet business models are unprecedented.. in history.
  • 106. What does this all of this mean? But.. are we ready for growth like this?
  • 107. Of course, are they ready? Down 70% from IPO and 80% from peak
  • 108. What does this all of this mean? How would you cope being a CEO of a company..that took 1 year to get fundingdid $1B in revenue in 2.5 years went IPO in its 4th year?
  • 109. What does this all of this mean? Welcome to the technology industry.
  • 110. What does this all of this mean? So what are you waiting for?
  • 111. What does this all of this mean? The Future is Here.