We are building a global marketplace for universities and students, which:
(1) solves revenue problem for universities by helping them recruit international students
(2) opens doors for international students by helping them connect with foreign universities
Company highlights in just over six months:
• $300K annual run rate
• Unit cost per lead ($6) is one-tenth of the competitors ($60)
• 53 university clients in US & Australia (growing to 100+ university in 2014)
Direct spend on recruitment is $10B per year. There are 2,000 universities from the US, UK, Canada, Australia & New Zealand recruiting international students, primarily from South Asia, China, and South-east Asia.
Challenged by decreasing budgets and declining domestic enrollments, US Universities are increasingly focusing on recruiting more full-fee paying international students as a source of additional revenue.
500 Startups is a Silicon Valley based seed fund & accelerator founded by PayPal, Google, YouTube, and Yahoo alums. We have invested in a number of e-commerce and fashion companies, and have co-invested with numerous top venture capital firms.