Preplesson

Online marketplace of language learning
Startup name
Preplesson
Web address
https://www.preplesson.com
Founding date
January 2016
Incorporation
Yes
Total team member
3
Startup stage
Paying users
Category
Consumer
Sector
Education
Product usage or interact
Desktop, Mobile/Tablet (iOS), Mobile/Tablet (Android)
City
Istanbul, Turkey

Elevator pitch

Preplesson is an online marketplace of language learning. Teachers and students sign up and have one on one online language lessons via Skype. While language learning can be expensive and time-consuming, we make things easier by having teachers and students work and learn from the comfort of their homes.

Team

Mehmet Ali Akca

I graduated from Oxford Brookes University in 2003 and had been working at our family company as Exports Director until 2016. Beginning of 2016, I started my own company and founded Preplesson.com

Eyup Ozkurnaz

Have Worked on website design for 9 years.

Business

Business model

Target customer

Professionals in Europe that want to learn and improve their English

Customer acquisition strategy

Google adwords, Facebook ads, Email Marketing automation

Revenue model

When students book lessons with teachers, we receive the money and when the lesson is complete we make payments to teachers. We get 15% commission.

Market info

Market size

$ 40,000,000,000

Competitors

Competition

Our competitors have been on the market for 5 years and there is still room for expansion.

The market size of the global language services industry in 2016 reached 40.27 billion U.S. dollars and was forecasted to rise to 45 billion by 2020.

KPI's

  • 3,000 Gross Merchandise Value
  • 200 Customers
  • 3 Registration Acquisition Cost (in EUR)
  • 1,300 Registered users
  • 600 Lessons Booked
  • 20 Customer Acquisition Cost (in EUR)

Startup traction

Our goal in 2017 was to prove the concept. We achieved more!

We used a small advertising budget in order to evaluate the market (how many people need such service) and compare the customers' needs against our offering.

We managed to achieve a very low CAC for students and at the same time a very high conversion rate. With more than 600 lessons already booked, we have a very clear indication of the demand for lessons and how we can match that against qualified teachers.

Next steps for us are to keep acquiring customers at a similar pace, CAC and LTV. With our data, we plan to select a few markets that we will focus in order to test new marketing channels and try to achieve higher market penetration.

With additional funding, we will invest in:
- Social media: Interaction with existing users and potential new customers is a key factor to our success.
- SEO and content marketing for long-term results.
- Email Marketing automation: Drip campaigns to increase conversion rates.

Other information

WE have received 20000 USD for 20% equity at the start. We request 150000 USD for 20%.

Team
Publication date: 28 September 2017