social enterprise conference 2012 matt barrie
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Matt BarrieCEO & ChairmanFreelancer.comemail:
[email protected]: @freelancer
TheNext Big Thing
You are here
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70% The other
of the world’s
population are
about to join
the Internet.
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Source: Internet World Stats & United Nation
It’s 2011.
World Population
6,970,000,000
Number on the Internet
2,080,000,000 (30.0%)
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North America266 million users77.4% penetration
North America266 million users77.4% penetration
Europe475 million users58.4% penetration
Europe475 million users58.4% penetration
Latin America204m (of 592)34.5% penetration
Latin America204m (of 592)34.5% penetration
Africa110m (of 1014m)10.9% penetration
Africa110m (of 1014m)10.9% penetration
Asia825m (of 3834m)21.5% penetration
Asia825m (of 3834m)21.5% penetration
Worldwide Internet Penetration 2011
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146%
179%
352%
445%
621%
1033%
1825%
2357%
0% 500% 1000% 1500% 2000% 2500%
North America
Oceania / Australia
Europe
World, Avg
Asia
Latin America / Caribbean
Middle East
Africa
The other 5,000,000,000 people are coming)
The other 5,000,000,000 people are coming)
Worldwide Internet Growth 2000-2010
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81% of Users of top sites outside USA
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More Chinese in 3y than the whole of USA
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The other 5 billion
are on an average wage
of $10 or less per day
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The first thing they are
doing is looking to raise
their economic status.
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And it’s never been easier
to learn a trade.
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Free Stanford
Course in AI.
Over 170,000
enrolled, 8x the
total number of
students at
Stanford.
Free Stanford
Course in AI.
Over 170,000
enrolled, 8x the
total number of
students at
Stanford.
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Simultaneously
every industry is now
digitised.
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The World is Flat.
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The World is Flat.
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The World is Flat.
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Today Tomorrow
Goods Services
What does all this mean?
What does this all mean?
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The World is Flat.
The World is Flat
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We are the global labor exchange
Empowering Entrepreneurs. Globally.
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In the west, we provide the
productivity tool to assist
those with a spark of an
idea turn it into reality.
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In emerging economies, we
empower entrepreneurs to
start service organisations.
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➔ We provide the labour force that will enable the western world to power into a digital economy.
➔ We deliver jobs to emerging economies, in technical areas, that are desperately needed, at fantastic rates of pay.
➔ And we can do so delivering serendipity to both parties due to the huge wage gap.
Freelancer.com
What we do
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➔ Started in 2004
➔ World’s largest outsourcing marketplace
➔ ~ 3,500,000 users from >234 countries/regions
➔ ~ 1,600,000 posted projects to date
➔ ~ $130,000,000 spent through site to date,
roughly equivalent to saving western businesses $500m to $1b in costs.. in $200 projects..
➔ In top 300 websites globally (Alexa)
Freelancer.com
Freelancer Globally
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Top 300 websites worldwide.
Up from 5,000 two years ago.
Top 300 websites worldwide.
Up from 5,000 two years ago.
Peaked in
top 200!
Peaked in
top 200!
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Below:Amazon.comApple.comMSN.comBing.comBBCEtc..
Freelancer.com is huge
in the developing
world.
Now ranks 21st in
Bangladesh
(155m population)
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The Online Economy
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Freelancer.com
“If I just have the spark of an idea now, I can get a designer in Taiwan to design it. I can get a factory in China to produce a prototype. I can get a factory in Vietnam to mass manufacture it. I can use Amazon.com to handle fulfilment. I can use freelancer.com to find someone to do my logo and manage my backroom. And I can do all this at incredibly low prices. The one thing that is not a commodity and never will be is that spark of an idea.”
“America’s Dream Team”(Tom Friedman)New York Times Editorial 2010
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➔ As simple as eBay
➔ Post a Project (FREE!)
➔ Review bids (60-80 on average), ask for samples
➔ Pick one or more Freelancers
➔ Set up Milestone Payments
➔ Only release funds when the work completes are you are 100% happy!
Freelancer.com
How it works
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Can see performance, skill sets.
Instant hire!
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Can see complete history
of work, payments,
feedback & rating
Certifications
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Small Business Owner
Want better
packaging
Need a
Website
Need some new
brochures
Need to find a
manufacturer
for new productNeed to
redesign my
showroom
Sell more!
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Things I bet you didn’t
know you could outsource
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280 choices for $290!
280 choices for $290!
Design a LogoDesign a Logo
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iPhone App
.. for Manga
iPhone App
.. for Manga
18 Bids18 BidsUS $1300US $1300
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36 Bids36 BidsUS $268US $268
Design a fully
functional Dune
Buggy I can drive at
30km / hour
Design a fully
functional Dune
Buggy I can drive at
30km / hour
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US $270US $270
Wifi powered lawn
sprinkler that
accepts changes
from & reports to
Twitter / Android /
iPhone / Web
Wifi powered lawn
sprinkler that
accepts changes
from & reports to
Twitter / Android /
iPhone / Web
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US $270US $270
Marketer for an
iPhone application
in Korea!
Marketer for an
iPhone application
in Korea!
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39 Bids39 BidsUS $176US $176
Architectural
drafting of a
carwash and cafe
Architectural
drafting of a
carwash and cafe
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13 Bids13 BidsUS $251US $251
Mathematical
modelling for
chemical engineering
Mathematical
modelling for
chemical engineering
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Underpants
manufacturer for kids
with autism
Underpants
manufacturer for kids
with autism
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Compose a rap song
to help Chinese
students learn
English
Compose a rap song
to help Chinese
students learn
English
3 Bids3 BidsUS $157US $157
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US R&D firm needing
help with hydrogen
engine design
US R&D firm needing
help with hydrogen
engine design
14 Bids14 BidsUS $484US $484
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Pakista
n
Pakista
n
Banglades
h
Banglades
h
Pakista
n
Pakista
n
German
y
German
y
IndiaIndia
Banglades
h
Banglades
h
UK degree, 2yr
exp.
UK degree, 2yr
exp.
Uni studentUni student
Indian companyIndian company
Chemical engineerChemical engineer
Who is bidding?
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2660 Suggestions
!
2660 Suggestions
!
Lets have some fun..Lets have some fun..
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What happens when we pump $25,000 into this?
What happens when we pump $25,000 into this?
441 Entries441 Entries
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What does this all of this mean?
It’s never been easier to
assemble an army to help you.
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What does this all of this mean?
It’s never been a better time to
start a company.
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What does this all of this mean?
Every business today is an
Internet business.
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What does this all of this mean?
All this stuff is free.
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Virtualised computer..
Only this computer is a
hotel reservation system!
• PBX
• Hotel Reservations
• Wifi
• Minibar
• Movies
Virtualised computer..
Only this computer is a
hotel reservation system!
• PBX
• Hotel Reservations
• Wifi
• Minibar
• Movies
Free!Free!
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What does this all of this mean?
All this stuff is cheap.
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What does this all of this mean?
All this stuff is cheap.
Even if none of this stuff
makes sense to you,
freelancers can put it
together for you.. cheap!
Even if none of this stuff
makes sense to you,
freelancers can put it
together for you.. cheap!
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What does this all of this mean?
You can start a company off a credit card
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What does this all of this mean?
A new class of Venture Capital has arisen
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What does this all of this mean?
Digg.com
• Outsourced original software for $60• $6000 to get site all up and running• $1200 for domain and 12 months hosting
Offer from Google for $200 million 4 years later
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What does this all of this mean?
PCTools / Spyware Doctor
• Outsourced original software for $1000• Bootstrapped to profitability• Raised financing only at very late stage
Sold to Symantec for $300 million 6 years later.
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What does this all of this mean?
RetailMeNot.com
• Built with $30 in one weekend• Bootstrapped to $30m in revenues
Sold to WhaleShark for $90 million 5 years later.
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What does this all of this mean?
Omnisio
• Initially funded $20,000 by Y Combinator• No further financing
Sold to YouTube for $15 million 4 months later.
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• 350m users in 6 years
• 800m users in 8 years
• 100m users in 45 days?!?
Internet Scale
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Internet Scale Growth
2% of.. The Internet.
Alexa rank #16 in the
US
2% of.. The Internet.
Alexa rank #16 in the
US
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• Founded in July 2007• Financed in July 2008• Makes silly flash games
• 2011 revenue $1.2 billion
• Founded Nov 2008• 2011 revenue $1.6 billion• Spams you deals of the day
• WSJ “made $1 billion in sales faster than any other business, ever”
Internet Scale Revenue
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Years to reach $1 billion in revenue
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What does this all of this mean?
The capital efficiency and
growth rates of Internet
business models are
unprecedented.. in history.
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What does this all of this mean?
How would your business
change if you had access to
virtually unlimited labor at next
to no cost?
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What does this all of this mean?
So what are you waiting for?
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What does this all of this mean?
“Freelancer.com is the best thing ever happened in my life.. thanks to this website I am able to pay my school fees in time and not only that, I am paying school fees for my little sibling in primary school. Africa is a third world country (many are below poverty line). I can say my life has
changed totally” – Duncan Mwirigi, Kenya
“I can tell you loud that you saved my life: I was unemployed 5 years ago, too old to get a good job but too young to retire ... You could return a smile to my old/young
face” - Lautaro Lacurcia, Uruguay
Thank you
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Tips on Getting the Best Results
➔ Open your mind. You can outsource anything!
➔ The better you specify the project, the better the outcome you will have.
➔ Don’t always go for the cheapest. Make sure they can do the job first.
➔ Ask for previous work, a portfolio or to do a paid/unpaid trial on some sample items.
➔ Pick people with a high reputation & good feedback.
➔ Don’t pay upfront. Use Milestone Payments.