Introduce your startup and give a short description of what you are doing.
LiveMentor is an online tutoring marketplace. We make it super easy to connect in an online lesson space with a great mentor. Parents and students can research and compare tutor bios, rates, credentials, customer reviews, background checks and immediately connect with the perfect match.
Who are the founders, how did you meet, what are your different roles in the startup.
We are 3 founders : Alexandre Dana (CEO), Charles Lefebvre du Prey (COO) and Grégoire Clermont (CTO).
How was the idea for your startup born?
We were tutors and needed a way to help students from everywhere
What is the main problem in education that you aim to solve.
The three of us have more than 3000 hours of tutoring experience, both offline and online, from the past 3 years. From our personal experience, we noticed huge inefficiencies on both sides.
Parents & students
Parents spend thousands of dollars a year on tutors, but they’re forced to rely on word-of-mouth recommendations, or messy Craiglist listings. And in the classic in-home tutoring model, which is cost prohibitive for most families because tutoring agencies take a 50-80% cut, geography limits availability of great tutors and you can’t help students at the moment they need help (they rarely plan ahead to know when they will need help and need on-demand tutoring which is only possible via online tutoring).
They hate tutoring agencies, their insane fee (between 50% and 80%) and the way they treat you as a commodity. They want to set their own hourly rate and be independent tutors. But as an independent tutor :
- How do you help students not located in your area ?
- How do you get paid ?
- How do you market yourselves to find more leads ?
- How to you build your tutor credibility ?
- How do you manage your tutoring business ?
Beside those inefficiences, we also deeply believe that people need one-on-one interaction. Tutoring will be 100% online because Internet makes it possible to distribute a great tutor to a wider audience.
Who are your competitors? What sets you apart from them?
In Europe, not a lot of people ! In the US, Wyzant (offline tutoring) and Verbling (language tutoring only)
In which markets / regions are you active. What markets / regions are next.
France and a lot of French speaking countries. UK is next.
Who is your target audience.
Students from 13 to 20
What is your business model. How much does your product / service cost.
We take a fee on each lesson, from 20% to 10%, it varies according to the mentor experience
If you raised funding, how much did you raise. Who are your investors. If not, are you planning to raise funding.
We are in the process to raise 1M