Introduce your startup and give a short description of what you are doing.
ClassOnLive is a live e-learning marketplace where anyone can create or join live classes: personalized one to one classes, group classes, webinars or streaming of educational events. There are also video classes where participants watching the same video can communicate in real time with other participants and video forums for up to 4 people. Classes can be paid or free, public or private.
Who are the founders, how did you meet, what are your different roles in the startup.
Sergio Puertas (CEO & CTO) is Spanish and a software engineer with more than 12 years experience developing software for companies such as Hewlett Packard, Indra or Atos. He developed ClassOnLive´s videoconference system based on webRTC.
Elia Barahona (COO) BA & MBA, previous business owner and university professor, has worked in companies such as 20th Century Fox and InterContinental Hotel Group, with more than 12 years experience in managing people.
Both met 10 years ago and have previously made a project beforehand.
How was the idea for your startup born?
Both founders are lifelong learners, and we were constantly frustrated with not having anyone to help us or share the experience/knowledge when learning online. This is how ClassOnLive was born. We wanted to create an e-learning community based on real time interaction.
What is the main problem in education that you aim to solve.
The loneliness the student feels when studying online. Some like to study alone at our own pace, however, some of us like to share our knowledge with others and gain theirs enriching the learning experience.
With the streaming we also want in person educational events to reach a global audience, have the online participants to be able to comment or ask questions to the instructor, so anyone that enters the web will have the option to be able to communicate with others in real time while learning.
Who are your competitors? What sets you apart from them?
We are the only website based on real time interactions for the Spanish speaking market. Some websites offer real time interaction (BigMarker or WizIQ), although, they provide mostly webinars and video marketplaces that complement with real time interaction. We, on the other hand, offer the instructor all the options to create a class (live or video) where everybody can participate in real time.
In which markets / regions are you active. What markets / regions are next.
Right now, we are concentrating on Spain & Latin America. Later this year we will be translating the website to English.
Who is your target audience.
Instructors that want engagement and full participation from their students. Lifelong learners that want to share their learning process with others.
How do you engage with your target audience. How do you convert them into users of your product.
We ask them to try out the website. Once they do, we have recurring instructors and students that love the experience.
What is your business model. How much does your product / service cost.
We operate a freemium model based on additional individual services that instructors can either pay one by one or with a subscription. For paid courses we charge 15% for each student that purchases the course.
If you raised funding, how much did you raise. Who are your investors. If not, are you planning to raise funding.
We plan to raise funding later this year, 150.000€ as seed round.
Are there milestones you are especially proud of and would like to share.
The website is in the market since Sept/14 and since we have made some major changes. Since March/15, we have gained 2000 users, enrolled 600 students and published 200 courses in the last 3 months.
What are the next steps in growing your startup.
We want to adapt the virtual rooms to mobile/tablets and translate the website to English.