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Published byEmil McCarthy Modified over 9 years ago
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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
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THE NEXT STEP On Step, employers will never miss the right candidate… And professionals will never miss the right opportunity again
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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
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THE MARKET 38 MILLION MAKE OVER $60K SALARY 1.3 MILLION HAVE OVER $1M REVENUE $31 B US $15 B ADDRESSABLE 6 MILLION US COMPANIES 120 MILLION US PROFESSIONALS
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THE MARKET LINKEDIN TALENT SOLUTIONS REVENUE ($MILLIONS) Over $1 billion in LinkedIn Talent revenue alone
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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
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PROBLEM #1: EMPLOYERS WASTE TIME SOLUTION: THE STEP PROFILE PROBLEM #1: EMPLOYERS WASTE TIME SOLUTION: THE STEP PROFILE
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UNPRECEDENTED SEARCH FILTERS Define the skill set, responsibilities and work style of your ideal professional
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Step returns search results based on relevancy and professional caliber RELEVANT SEARCH RESULTS Professionals’ preferences stated upfront, before unlocking
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UNLOCKED PROFILES Detailed profiles driven by structured data
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UNLOCKED PROFILES In-depth info for each work experience
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UNLOCKED PROFILES A professional’s career growth, visualized
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UNLOCKED PROFILES Assessing culture fit from work style and core values
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UNLOCKED PROFILES Extent of expertise for each skill and responsibility
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PROBLEM #2: PROFESSIONALS FEEL SPAMMED SOLUTION: THE CONTROL CENTER PROBLEM #2: PROFESSIONALS FEEL SPAMMED SOLUTION: THE CONTROL CENTER
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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
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PROFESSIONAL ANONYMITY Professionals’ identities protected until they reveal themselves
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CAREER INSIGHTS WHO’S SEARCHED YOU Step delivers back to professionals all the aggregated transaction data
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EXECUTION STRATEGY -3– 1 CLOSED BETA OPEN 123456 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
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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
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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
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INVESTMENT SCHEDULE TIME FRAME INVESTMENT Present through Q1 2016 $2.5M Q4 2017 to end of 2018 $25M STAGE 1 STAGE 2 Q2 2016 through Q3 2017 $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
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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
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OUR ASK Seed round of $2.5M $325K raised Convertible note 20% discount 7% interest rate $6M cap
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THANK YOU LAX CHANDRA | Lax@step.com MITCH KUSHINSKY | Mitch@step.com
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