For all those who have taught and learn foreign languages and are dissatisfied with the fact that without practice the language is forgotten, Polyged website and applications allow to get accessible permanent international practice of communication in an individual and club format. We have a platform, our own communication, moderated clubs, Uber for mentors, and a marketplace of language and relevant services with a friendly theme.
Current Status
Validation of the idea of one-to-one communicative practices - 40,000 registered users from 25 countries, CAC<$1.
Confirmation of the hypothesis of conversation clubs on the platform, development of software for the network of clubs, revenue was $20,000.
Preaccelerator Strata Ventures, USA
Accelerator FisTech.Start, RF
Now we have 53000 registered users from 125 countries. And now we are ready to launch.
We offer the most efficient and accessible tool and a new way to communicate for millions of people around the planet.
Market
Our market - Language learning market online.
PAM - $6.3 billion; TAM - $3 billion (Individuals) - * «ONLINE LANGUAGE LEARNING MARKET By Product (SaaS, Apps, Tutoring), Language (English, German, Japanese, Korean, Mandarin Chinese), User (Consumer, Government, K-12, Corporate), and Geography Forecast to 2027" - Meticulous Market Research Pvt. Ltd., July 2020
Customer segment - individuals. First - the most active - students.
Problem or Opportunity
We have gone beyond the usual and formal in the educational space. We offer the most efficient and accessible tool and a new way to communicate for millions of people around the planet.
We need money for promotion in many countries in one time.
Solution (product or service)
We need investments $500,000 to grow exponentially. This amount can help us to attract about 400,000 users for 6 months and to be cash-flow positive.
Competitors
there are no offers on the market for the practice of communication, everything I offer is only training. There. where one-on-one communication with native speakers is declared, in fact everything turns into dating.
More detail:
Tandem and Hellotalk - only one-to-one and dating
Lingoda and Prepy - payments tutoring
Duolingo - traning without convesational with live interlocutors.
Advantages or differentiators
Our advantages are language clubs and moderation, own LMS and all types of connections in the platform. We have tutors but offer to safe language after learning!
Finance
Business model : subscription, SAAS
Subscription - clubs, additional content - price - $10.
%% for individual tutors - 10%
%% for group courses LMS - 20%
Cost structure - marketing (50%), IT and R&D (30%), other (20%)
Business model
Business model : subscription, SAAS
Promotion channels -
Russian universities and their foreign partner universities,
A network of ambassadors from Central Asia - students,
Targeted advertising on social networks,
Intermediaries with international connections,
Formation of local networks - sales and market managers,
Participation in related events.
Money will be spent on
This amount is enough to attract 400 thousand clients and the project's self-sufficiency in 6 months.
Marketing - 50%
IT - 20%
R&D - 20%
Others - 10%
Offer for investor
Investment proposal
Project estimate $ 5 million
A 10% package is offered for $ 500 thousand.
The minimum check is $ 100 thousand.