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Craigslist Foundation Kiva Presentation


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Craigslist Foundation Kiva Presentation

  1. 1. ‘ Succeeding’ as an Emerging Social Entrepreneur Craigslist Foundation Bootcamp Premal Shah President Kiva "Revolutionising how donors and lenders in the US are connecting with small entrepreneurs in developing countries”
  2. 2. Kiva 101 Internet Lender Online marketplace Local Partner (MFI) Entrepreneur Money Information
  3. 3. +345,000 social investors have lent + $45 million in first 3 years. <ul><li>Other Key Stats </li></ul><ul><li>Growth: $1M loans every 10 days. </li></ul><ul><li>Risk: +97% repayment rate. </li></ul><ul><li>Recycle Rate: 65% repayment rate. </li></ul><ul><li>NGO Network: 105 NGOs in 45 countries. Growing 3 a month. </li></ul><ul><li>Traffic: 700,000 visitors last month </li></ul><ul><li>Organization: 35 employees / +400 volunteers </li></ul><ul><li>Efficiency: Platform raises $8 in loans for every $1 donated. </li></ul>5 yr goal = $1 Billion
  4. 4. Kiva applies 3 “Web 2.0” principles to philanthropy <ul><li>Create an “ Addictive ” Donor Experience </li></ul><ul><li>Be “ Radically Transparent ” </li></ul><ul><li>“ Crowdsource ” against constraints </li></ul>
  5. 5. Create an “Addictive” User Experience <ul><li>“ Addictive” = Easy + Fun </li></ul>
  6. 6. 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
  7. 7. 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…
  8. 8. For some, Kiva is becoming very addictive!
  9. 9. Be ‘Radically Transparent’ Transparency  Authenticity  Trust
  10. 10. Kiva and Radical Transparency Paying for Kiva’s overhead is an explicit choice
  11. 11. Kiva and Radical Transparency Data inaccuracy and defaults are made explicit
  12. 12. “ Crowdsource” against constraints Big constraint? + No resources? = Crowdsource
  13. 13. Kiva and “Crowdsourcing” Kiva Fellows Program How do we train MFIs, gather progress updates and verify data accuracy hyper-fast?
  14. 14. Kiva and “Crowdsourcing” Kiva Translator Program How do we immediately translate entrepreneur profiles from native language to English?
  15. 15. Kiva and “Crowdsourcing” We have little money, but great partners! <ul><li>Discounted pricing </li></ul><ul><li>MySpace fundraising widget </li></ul><ul><li>ATM/Debit Card solution for Int’l </li></ul>Non-profit channel <ul><li>Free Google Checkout </li></ul><ul><li>Free Adwords </li></ul><ul><li>Non-profit channel </li></ul><ul><li>Build your own page and recruit friends </li></ul><ul><li>Free / discounted technology </li></ul>Free licenses
  16. 16. “ Actionable” Takeaways # Web 2.0 Principle Actionable Takeaway 1 “ Addictive” donor experience <ul><li>Make it “Easy”: </li></ul><ul><ul><li>Show me photos of atomic units </li></ul></ul><ul><ul><li>Allow / encourage $1 contributions </li></ul></ul><ul><li>Make it “Fun”: </li></ul><ul><ul><li>Photo upload is the 80/20 </li></ul></ul><ul><ul><li>User testimonials </li></ul></ul><ul><ul><li>Build community + competitions </li></ul></ul>2 “ Radical Transparency” <ul><li>Start a blog </li></ul><ul><li>Admit imperfection every step of the way </li></ul><ul><li>Let people contribute w/o paying for you </li></ul>3 “ Crowdsource” against constraints <ul><li>Hard time getting traction in the beginning? </li></ul><ul><li>Ink is cheap: Build a huge advisory board </li></ul><ul><li>Evite: permission based marketing tool </li></ul><ul><li>Rally college students and recent grads </li></ul>