"How Opinary grew from a side-project to 70 million users" by Cornelius Frey, Co-Founder of Opinary
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Opinary started from a deep frustration: the difficultly to gauge public opinions on current issues online. So Cornelius Frey and his co-founders built embedded tools for publishers to measure just that. It was a hit and they started making revenues from an early point. Today, Opinary is used by millions of users in the newsrooms of +60 publishers in Germany, UK, and the US. Starting in 2013 as a bootstrapped side-project, the startup just closed a €3M series A. In this presentation, Cornelius explains how bootstrapping allowed him to build a project out of passion, giving him the freedom to make the mistakes & choices he did. He shares how you can achieve financial independence fast if you focus on the right things ;)
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"How Opinary grew from a side-project to 70 million users" by Cornelius Frey, Co-Founder of Opinary
- 1. M A K E O P I N I O N S M A T T E R .
- 2. The problem: 98% of online content consumption is completely PASSIVE (*and some still wonder why their users don‘t convert)
- 3. Solution: Interaction. 150x higher engagement.
- 4. TH E IMMED IA TE IMPA C T of TU R N IN G EN GA GEMEN T IN TO LOYA LTY raised on-site engagement to up to 32% increased time on site by 33% increased sharing rates by 110% W I T H U S , H U F F I N G T O N P O S T U K decreased bounce rate by 24%
- 6. • NLP: multi language syntax parser, POS tagger, entity extraction • Mixed Membership Topic Modeling • Detect and infer relevant content with unsupervised Machine Learning Models • Every poll is matched and injected into meaningful semantic content A U TOMA TED D ISTR IB U TION : proprietary learning algorithms for safe, powerful editorial fit at scale
- 7. T H E S T O R Y B E H I N D T H E S T O R Y
- 8. 2014 IDEA: ORIENT & EMPOWER
- 10. IT‘S REAL! 2015
- 12. LET‘S GO 2016
- 13. IT‘S HARDER THAN WE THOUG HT. 2016
- 14. WE‘RE MAKING STUFF HAPPEN! 2017 **60m**
- 15. Reach: 250m users 2018 goals With monetized, automated partners Revenue: 5m ARR With long-term brand partners Crack UK/US & insights What are your users really thinking, and why does that matter?
- 16. 1. Keep your job and cut expenses Observations on bootstrapping (if possible….)
- 17. 2. No need for a proven model and category! Observations on bootstrapping (but definitely find/prove a user/customer need)
- 18. 3. Build something small and ugly Observations on bootstrapping (and get it used)
- 19. 4. It‘s only an experiment if you kill half of it Observations on bootstrapping (overcome your own harsh judgement and pivot early & often)
- 20. 5. What will you pay me if i ….? Observations on bootstrapping …verify actual, not wishful intent and need
- 21. 6. We‘ve run out of badges of honour Observations on bootstrapping SORRY!
- 22. 7. Guard your time Observations on bootstrapping Are your clients there? Or the people you want to hire? No? Don‘t go