STEP - Platform dedicated to eliminating the inefficiencies of online passive recruiting THE EVOLUTION OF RECRUITING ANALOG - Newspapers - Help wanted ads ONLINE JOB BOARDS - Monster, Indeed - Online job placement NETWORKS - LinkedIn - Access to passive candidates
THE NEXT STEP On Step, employers will never miss the right candidate… And professionals will never miss the right opportunity again
RECRUITING ON LINKEDIN Low response rates PROFESSIONALS FEEL SPAMMED BY EMPLOYERS WASTE TIME Vague opportunities Finding the right talent Irrelevant Jobs INEFFICIEN T Lack of privacy Crafting communications Incomplete profiles
THE MARKET 38 MILLION MAKE OVER $60K SALARY 1.3 MILLION HAVE OVER $1M REVENUE $31 B US $15 B ADDRESSABLE 6 MILLION US COMPANIES 120 MILLION US PROFESSIONALS
THE MARKET LINKEDIN TALENT SOLUTIONS REVENUE ($MILLIONS) Over $1 billion in LinkedIn Talent revenue alone
CREATE PROFILE Identity is anonymous HOW STEP WORKS ACCEPT TO UNLOCK Full profile revealed for 4 months SEARCH FOR FREE Results ranked by relevance INVITE TO UNLOCK $4 to send an invite PROFESSIONALS EMPLOYERS Contact flow between professionals and employers
PROBLEM #1: EMPLOYERS WASTE TIME SOLUTION: THE STEP PROFILE PROBLEM #1: EMPLOYERS WASTE TIME SOLUTION: THE STEP PROFILE
UNPRECEDENTED SEARCH FILTERS Define the skill set, responsibilities and work style of your ideal professional
Step returns search results based on relevancy and professional caliber RELEVANT SEARCH RESULTS Professionals’ preferences stated upfront, before unlocking
UNLOCKED PROFILES Detailed profiles driven by structured data
UNLOCKED PROFILES In-depth info for each work experience
UNLOCKED PROFILES A professional’s career growth, visualized
UNLOCKED PROFILES Assessing culture fit from work style and core values
UNLOCKED PROFILES Extent of expertise for each skill and responsibility
PROBLEM #2: PROFESSIONALS FEEL SPAMMED SOLUTION: THE CONTROL CENTER PROBLEM #2: PROFESSIONALS FEEL SPAMMED SOLUTION: THE CONTROL CENTER
ROBUST RULES ENGINE I want to receive push notifications about profile invitations Send all invites to meOnly send invites when they meet the following: Send me invites only from these companies: Send me invites only with a minimum compensation of: Send me invites only from these industries: Send me invites only from companies of this size: Send me invites only from these stages: Send me invites only for these job roles: Professionals have full control over the types of job invites they receive
PROFESSIONAL ANONYMITY Professionals’ identities protected until they reveal themselves
CAREER INSIGHTS WHO’S SEARCHED YOU Step delivers back to professionals all the aggregated transaction data
EXECUTION STRATEGY -3– 1 CLOSED BETA OPEN TOP 20% OF PROS ALL EMPLOYERS ALL PROFESSIONALS – 2 WHAT STEP WILL DO Recruit top talent for free Offer free VIP services Direct sales Traditional brand and variable marketing MONTHS LAUNCH PREMIUM EMPLOYERS Focus on top tier companies and professionals leading up to launch
MARKET COVERAGE Expand and dominate one micro market at a time STARTUPS REPEAT WITH IT COMPANIES REPEAT WITH ACCT & FIN COMPANIES ALL OTHER INDUSTRIES BEYOND STARTUPS
MICRO MARKET CASH FLOW NYC SF OTHER CITIES IRR in 000’s IRRYEAR 1YEAR 2YEAR 3YEAR 4YEAR 5 NYC TECH22% $(852) $139$388 $461 $508 CITY AT SCALE 1 66% $(876) $366 $864 $964 $1,033 STARTUPSBEYOND STARTUPS Scale IRR surpasses 66% as we hit scale and gain efficiencies 1 Cash flows normalized to aggregated NYC
INVESTMENT SCHEDULE TIME FRAME INVESTMENT Present through Q $2.5M Q to end of 2018 $25M STAGE 1 STAGE 2 Q through Q $5M STAGE 3 LAUNCHES NYC startups (Tech & Marketing) Rest of US startups US IT companies Rest of NYC startups SF startups (Tech & Marketing) SUCCESS CRITERIA 12K pro’s 1.2K employers 550K pro’s 25K employers 47K pro’s 5K employers
THE STEP TEAM LAX CHANDRA CO-FOUNDER, CEO President, WizKids MITCH KUSHINSKY CO-FOUNDER, COO Head of Product, Quidsi JENNIFER CHU HEAD OF MARKETING VP of Brand Strategy, Usell KEY ADVISORS Marc Lore – Co-Founder of Quidsi, Founder of Jet.com Vinit Bharara – Co-Founder of Quidsi, Founder of Café.com HR Advisory Board - 3 prominent members in HR, Hiring and Development WEI YAN INTERIM CTO CTO, Quidsi
OUR ASK Seed round of $2.5M $325K raised Convertible note 20% discount 7% interest rate $6M cap
THANK YOU LAX CHANDRA | MITCH KUSHINSKY |