slides class 14718
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conferencia Open English ChileTRANSCRIPT
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Part I: Open English One Example of La7n American Entrepreneurship
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The Open English Story The leading online English school in Latin America
• Andres Moreno; Founder and CEO of OpenEnglish
• Co-‐founder of Op9mal English, company that provided La9n American execu9ves of Fortune 500 with one-‐on-‐one English-‐language training
• Founded in 2006 • Ini9ally targe9ng Spanish
and Portuguese speakers in LatAm
• +50,000 students • Raised +$55M to date
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Online English Learning Students can improve their English any9me, anywhere
Live Instruc7on Live sessions with na9ve English speakers start every hour
Personalized A>en7on Each student has their own Study Advisor for counsel and mo9va9on
Mul7media Learning Students can experience the language through hundreds of hours of mul9media content
Our Value Proposition The best way to reach fluency in English; anytime, anywhere.
Our core 12-month program includes:
* Average contract value before churn
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Regional Operations Over 1500 team members across the region
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Miami
Caracas Panama Bogota
Sao Paulo
Buenos Aires
Effec7ve Acquisi7on Strategy
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Company Awards and Buzz! Pan-regional Press Coverage
Winner of the 2011 Educa9on SoSware
Review
Winner of the 2011 Interna9onal E-‐Learning Award Academic Division
Winner of the 2011 E-‐Learning Age – Online Educa9onal
Company
Winner of the 2011 David Riley Award for Innova9on in Business English and
ESP
Winner of the 2010 Interac9ve Media Awards
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Part II: Our Region The resurgence of tech start-‐ups in La7n America
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LatAm Leads Broadband Growth LatAm will have highest CAGR in the world in terms of fixed
broadband connections between 2009 and 2015
0.00% 2.00% 4.00% 6.00% 8.00% 10.00% 12.00% 14.00% 16.00% 18.00%
La7n America
Developed Regions*
*Central and Eastern Europe, developed Asia–Pacific, North America and Western Europe
Fixed broadb
and: worldwide forecast 2010–2015
Analysis Mason
15.4%
3.9%
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Time Spen
t Online
Total H
ours per Visitor F
ebruary 2010
LatAm Leads in Online Engagement The region is culturally ready for a massive surge in broadband
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% Reach Email % Reach Social Networks
LatAm Leads in Online Engagement
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Venture Capital Firms are Taking Interest…
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Acquired by Groupon (Brazil)
Acquired by Playdom (Argen7na)
IPO 2007 (Argen7na)
Acquired by Naspers $342M (Brazil)
Acquired by Santander $529M (Arg)
2010-‐11, Handful of Exits 2007-‐09, Success Stories
Acquired by Groupon (Chile)
Where are the exits?
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Although LatAm Entrepreneurs Face Many Challenges…
• Limited access to low cost loans or angel networks
• Limited opportuni7es to collaborate with others about lessons learned
• Low quality broadband dampers business models requiring high-‐bandwidth, (i.e. video streaming)
• E-‐commerce s9ll in its infancy, many consumers s9ll uncomfortable with purchasing online; limited payment infrastructure
• Costly and unreliable regional shipping infrastructure
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The Opportunity is Yours for the Taking! • La9n American markets are not yet saturated with established
market leaders, making it easier for new companies to gain market share
• Availability of low cost resources trained in large scale implementa9on due to par9cipa9on in near-‐shore IT consul9ng
• Historically lower staff a>ri7on rates due to cultural loyal9es to organiza9ons
• Heavy penetra7on of social media has a mul9plica9ve effect for web-‐based ini9a9ves.
• LatAm entreprenuers are well posi9oned to understand local consumer needs and build brands that resonate with them
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Q&A