kevin bryan coduru

Number of customers:

Total: 29

Remote Interviewing Solutions

Kevin Lo Bryan Jadot

What we thought

• Hypothesis

o Engineers wanted a tool that would integrate

elements of a typical remote interview (video chat,

collaborative coding, code execution / testing)

• How we tested it

o Talked to 29 customers: many engineers, many

recruiters, 1 HR employee, 1 VC

Value Propositions

Problem

Wants to conduct

interview remotely but

needs to use several

mediums

Solution

Integrated product for

conducting interviews

remotely.

Key Features

1) Collaborative editor

with code formatting.

2) Record interviews

3) Execute and test

code.

4) Video chat

Customer Segments

Individuals

Hiring managers and

engineers conducting

interviews in software

engineering fields.

Companies

Initially growth stage

companies, but later

first tier, large software

companies.

Job they want us to do

Ability to effectively and

quickly interview

candidates, so they can

return to their jobs.

Key Activities

1) Customer

service

2) Sales

Key Resources

1) Servers (AWS)

2) IP of our code

execution server

Customer Relations

Encourage hiring

engineers to use the

free version. Spreads

virally through

company. Company

has to pay for the

additional interviews.

Key Partners

1) Amazon

2) Dice, Indeed,

Workopolis

Cost Structure

1) Servers

2) Designers

3) Technical support engineers

4) Account managers

Revenue Streams

1) Freemium

2) Monthly subscription

3) Yearly subscription

4) Per interview

Business Model Canvas

Channels

1) Website

Original design

Monday night - What we learned

• Small marketo TAM only $5-10M.

o Target market only $1.25-2.5M

• Engineers who conducted interviews were

interested in our product, but we weren't sure if

they thought the company was willing to payo Liked code execution but didn't feel like it was crucial

o Other features weren't as important

o Mostly, this process is useful for quickly screening out fakers

• A better idea of the recruiting and interviewing

processo From the perspective of engineers, recruiters and human

resources employees.

Market Analysis

• TAM: About 1-2 million software interviews per year

based on data from US Bureau Labor of Statistics.

o Charging $5 per interview, we will make $5-10 million per year.

• SAM: About half of these interviews are conducted

remotely and can run on our platform

o Many companies just hire locally

o $2.5-5 million per year

• Target Market: Growth stage (size: 20-2,000)

companies actively hiring

o $1.25-2.5 million per year

Value Propositions

Problem

Interviewers aren't

getting as much

information out of

remote interviews as

they want to.

1) Interviews take up

engineering time

2) Tough to assess a

candidate accurately in

a short amount of time

Solution


conducting remote

interviews quickly and

providing predictive

analytics of employee

performance based on

questions asked and

evaluations

Customer Segments

Individuals

Hiring managers and

Engineers conducting


engineering fields.

Recruiters and CTOs

looking to get more

analytics about good

programming

questions

Initially from growth

stage companies, but

later first tier, large

software companies.

Job they want us to do

Ability to effectively

and quickly interview

candidates, so they

can return to their

jobs.

Key Activities

1) Customer

service

2) Sales

Key Resources

1) Servers (AWS)

2) IP of our code

execution server

Customer

Relations

Encourage hiring

engineers to use

the free version.

Spreads virally

through company.

Company has to

pay for the

additional

interviews.

Key Partners

1) Amazon

2) Dice, Indeed,

Workopolis

Cost Structure

1) Servers

2) Designers


4) Account managers

Revenue Streams

1) Freemium



4) Per interview


Channels

1) Website

2) Talk directly to

engineers and

recruiters

Tuesday Night - What we learned

• Got more data about engineer concerns during

interviews

o Tool used to conduct interviews is not an area that

can be improved

o Concerns about false positives (bad hires are a

headache)

o Engineers don't want an automated solution either

because they can't see thought processes

o Additional legal issues

• Finished mapping the recruiting pipeline.

• Came up with the idea of an analytics platform

that could deduce correlations between

interview performance and job performance

Recruiting pipelineAt Facebook. Director of HR or

recruiting has a large budget for

these sorts of tools. Still working

on taxonomy of customers...

Value Propositions

Problem

Tough to assess a



Solution

Analytics platform that

correlates job

performance with

specific interview

procedures and

questions.


conducting remote

interviews quickly and

providing predictive

analytics of employee

performance based on

questions asked and

evaluations

Customer Segments

Individuals

Engineers conducting


engineering fields.

Recruiters and

engineering exec's

looking to get more

analytics about

interview effectiveness




software companies.

Requested job



candidates, so they

can return to their

jobs.

Key Activities

1) Customer

service

2) Sales

Key Resources

1) Servers (AWS)

2) IP of our code

execution server

Customer

Relations

Encourage hiring

engineers to use

the free version.

Spreads virally

through the

company. Forced

to pay.

Sell directly to

engineering execs

and head of HR

Key Partners

1) Amazon

2) Dice, Indeed,

Workopolis

3) ATS tools like

Jobvite

4) Evaluation

tools

Cost Structure

1) Servers

2) Designers


4) Account managers

Revenue Streams

1) Freemium Trial period



4) Per successful candidate interview


Channels

1) Website

2) Talk directly to

engineers and

recruiters and

HR

Wednesday Night - What we learned

• More confirmation on problems with

interviewing platform: alternative isn't bad

enough to warrant paying for our solution

• Learned a lot about agency recruiters

• Competitive analysiso Who are the key players and their feature sets?

Recruiting / screen process is a very competitive

market

o What are people doing that is similar to us?

Competitive Analysis

Sourcing resumes1. AIRS Oxygen

2. Applicant direct

3. ResumeRobots

4. Staffback

Taking resumes1. ApplicantStack

2. eTap Marketing

3. Staffback

Filtering resumes -

90% of Fortune 5001. WelcomeTech

2. SuccessFactors

3. eGrabber

4. Staffback

Screening candidates1. Take the Interview

2. Get Hired

3. Wowzer

4. enRecruit

5. Ovia

6. Active Interview

7. HireVue

8. Spark Hire

9. VisualCV

10. Interviewzen

11. Alpine Interviews

12. Staffback

13. Stypi

ATS1. Taleo

2. Jobvite

3. Staffback

4. TheResumator

5. ZoHo Recruit

6. Zartis.com

7. Smart Recruiters

8. Kenexa

9. Bullhorn

HRM1. Insperity

2. OrangeHRM

3. WayPointHR

4. eAppraisal

5. Appraisal Smart

6. ICIMS

Value Propositions

Problem

Tough to assess a



Solution


correlates job

performance with

specific interview

procedures and

questions.

Key Features

Ability to predict

Customer Segments

Individuals

Internal recruiters and

engineering exec's

looking to get more

analytics about





software companies.

Requested job



candidates

Key Activities

1) Customer

service

2) Sales

Key Resources

1) Servers (AWS)

Customer

Relations

Sell directly to

engineering execs

and head of HR.

Initially give away

for free to build

corpus of data.

Key Partners

1) Amazon

2) ATS tools like

Jobvite

3) Evaluation

tools

Cost Structure

1) Servers

2) Designers


4) Account managers

Revenue Streams

1) Trial period



4) Per successful candidate


Channels

1) Website

2) Talk directly to

recruiters and

HR

Thursday Night - What we learned

• More validation with analytics platform idea,

although a lot of people were dubious without

seeing actual results because of amount of data

required.

• Another pain point from recruitero Problem: prioritizing resumes would help with recruiters

meeting recruiting quota

o Solution: correlate terms in a resume with the candidate's

success in the interview process to create a tool that can

identify what sort of resumes indicate good performance.

• Recruiting team has a budget somewhere

between $1000 - $10,000 before going through

VP for approval (LinkedIn)

Value Propositions

Problem

Tough to assess a



Solution


correlates job

performance with

specific interview

procedures and

questions.

Key Features

Ability to predict

Customer Segments

Individuals

Internal recruiters and

exec's looking to get

more analytics about





software companies.

Requested job



candidates

Key Activities

1) Customer

service

2) Sales

Key Resources

1) Servers (AWS)

Customer

Relations

Sell directly to

engineering execs

and head of HR.

Initially give away

for free to build

corpus of data.

Keep it under about

$10,000

Key Partners

1) Amazon

2) ATS tools like

Jobvite

3) Evaluation

tools

Cost Structure

1) Servers

2) Designers


4) Account managers

Revenue Streams

1) Trial period



4) Per successful candidate


Channels

1) Website

2) Talk directly to

HR and

recruiting

3) We know a lot

of recruiters and

engineers

Value Proposition

• Recruiters are basically guessing about the

helpfulness of their questions. What

questions are best?

• Recruiters say they need better analytics –

that ATS software does a terrible job at

analytics

• Solution: we provide a platform that ties into

ATS software like Jobvite and HRS software

that collects evaluations to provide feedback

on the effectiveness of interviewing practices

Key Features

• Page for interviewer to conduct interview

and upload comments afterwardso Lists questions to ask and ratings

(in order to gauge the interviewee more

accurately)

o Rate interviewee afterwards in categories like:

Code elegance

Communication

Experience

o Can import data from Jobvite periodically

This would be a frictionless and automatic

process

Basic design

Key Features (cont.)

• Page for performance reviews

o Users can rate hired candidates 1-2 years later in

categories like:

Productivity

Good teamwork

Technical skill

Any other aspect that HR wants...

o Compile all these statistics about performance

o Can periodically import data from performance

tracking software: Taleo, etc.

Seamless and automatic

How it works

Iterative approach to assessing candidates

Sourcing Assessing Decision

Evaluation pipeline

Recruiting pipeline

Where we go from here

• Develop a better understanding of the

market for an analytics platformo Size and demand

• Do additional competitive analysis of this

idea

o Analytics tools are often buried in ATS software.

These tools take time to get ahold of since we're

currently going through sales channels.

• Flesh out the key feature set based on more

customer feedback.

Acknowledgments

• The awesome class

• Andy Sack

• Jon Feiber

• Ken Pickar

• Charles House

• Steve Blank

kevin bryan coduru

Education