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Speek - Starting Up Like Biggie Smalls - Rutgers Business School

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The deck from the talk I gave on January 13, 2014 at the Rutgers Business School Scarlet Startups event.

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Speek - Starting Up Like Biggie Smalls - Rutgers Business School

  1. 1. Hi, my name is Danny Boice I am the Co-Founder & CTO of Speek I am from Washington, DC I love rap music I hate conference calls
  2. 2. Conference Calls Suck Speek makes Conference Calls Fast & Easy We make money using the Freemium model (more about this later after Biggie Smalls)
  3. 3. Speek has raised $5 Million We have hosted over 300,000 callers For over 10,000,000 minutes We are growing around 50% monthly Speek is 1 1/2 years old
  4. 4. Biggie is going to tell you how we started up now.
  5. 5. "It was all a dream.."
  6. 6. "Call the crib, same number, same hood, and it’s all good."
  7. 7. "We used to fuss when the landlord dissed us."
  8. 8. "Mo Money Mo Problems"
  9. 9. "F—ck it, I didn’t wanna go to heaven anyway."
  10. 10. "Got introduced to the game, got an ounce, and f— ckin’ blew up."
  11. 11. "I’m living everyday like a hustle. Another drug to juggle, another day another struggle."
  12. 12. "Blowin' up like you thought I would"
  13. 13. Any Questions Thus Far?
  14. 14. The Business of Speek
  15. 15. Freemium
  16. 16. Definition of Freemium: A business model by which a proprietary product or service is provided free of charge, but money (premium) is charged for advanced features, functionality, or virtual goods.
  17. 17. It's kinda like selling crack.
  18. 18. Why Freemium? • • • • • • No friction - get user "hooked" Free registration for all - the more the merrier Maximize virality - even your active free users generate more users just by using Speek Speek is disrupting a space where the incumbents are free The math works Confidence in conversion to premium
  19. 19. Freemium is NOT a 30 day free trial
  20. 20. Speek Freemium • • o o o o o o o Free Your own speek link (speek.com/danny) Conference calls w/ up to 5 callers Premium More than 5 callers on a call File sharing Commenting Call recording Co-branding (YourCompany.speek.com)
  21. 21. Some Interesting Metrics • • • • We convert 20% of our home page visitors to register AdWords-originating users are half as "sticky" as organic / viral conversions We convert 5% of our active free users to paid 20% of first time / non-registered callers who join a speek call register immediately after that call o These users rarely churn
  22. 22. The Smile Graph
  23. 23. Any Questions?

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