Real Simple Edu
A venture about apps for education:
Posted in: Pitch Pool
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David Vogt
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ETEC 522 – September 2012
Ventures in Learning Technology
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joeltremblay on Week 11: Voice joeltremblay on A3 Elevator and Venture manny on Photo App Elevator and Venture… adi on My last participation :-( adi on My last participation :-(
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adi 3:04 pm on September 18, 2012 Permalink | Log in to Reply
No, I would not invest in this venture. According to David Shore
Perfecting Your Pitch, a good pitch should indicate (1) what the problem is; (2) what the product does to solve it; (3) who it’s going to solve the problem for, and (4) why people will buy it. This pitch only addresses number 3, but all the rest is not clear. David Shore also advises against slides with too much text, or text that the actual person is reading, it distracts and makes it difficult to follow. For these reasons, this pitch was not at all clear, and I would not invest in it.
Peggy Lawson 5:12 am on September 19, 2012 Permalink | Log in to Reply
I agree adelpaso, but I felt the strongest point was 4 as he did briefly mention that they had some history of success and would thus make money for his buyers, although he did broadly indicate the potential customers. There was very little indication of what the product actually was or did – “educational app” is pretty broad! I would definitely not invest based on this pitch.
manny 11:18 pm on September 21, 2012 Permalink | Log in to Reply
No, I would not invest in this venture based on the information that was given and the lack of confidence through which it was delivered. Upon the introduction, it was very confusing as to what the product was. Am I investing in an educational app development company which designs different apps for use in schools, colleges and businesses or is it a single app that caters to all three. Furthermore, the educational app marketplace is very competitive, what innovative advantage does this company have over others that could maintain its sustainability. The presentation detracts from the message and a demo of the app would have been more suitable. The presenters tone lacks excitement and confidence which may parallel the product in question. Having a 150,000 paying customers is a great start but I don’t see the potential growth and sustainability along with an exit strategy. Based on this presentation, I would not be willing to part with my money. The product may have huge potential, but it wasn’t conveyed in this lackluster presentation.
jenbarker 10:52 am on September 22, 2012 Permalink | Log in to Reply
Manny, you make some great points. I relate this back to my experience as an educator. When we plan lessons we are told that great lessons include a hook at the beginning that instill excitement in our children and hook them in, ultimately engaging them. I found this pitch boring. When I think of all the outstanding apps in education, they excite me and this pitch could have capitalized on the enthusiasm that already exists in this market.
manny 7:38 pm on September 22, 2012 Permalink | Log in to Reply
Hi Jen, I couldn’t agree with you more! I think that the elevator pitch itself needs to capture the audiences attention in the first couple of seconds or you have lost them completely. A hook is imperative in this scenario as you only have about a minute to pitch your venture. From an EVA/Investors standpoint, they may go through a dozen or so of these pitches a day and quite frankly, this one did not stand out at all and is easily forgettable.
kstackhouse 11:48 am on September 23, 2012 Permalink | Log in to Reply
I agree with you Manny. It is is difficult to imagine that the company would be hard pressed to cater to all three levels of education. Also, as you mention his presentation was not engaging enough to really grab on to the attention of an EVA. They would probably stop listening pretty quickly. Unfortunately that seems to be the way the business works. It is like a resume, you might have tons of experience but if you have not polished the resume HR people might not even look at it closely enough to find out.
jenniferschubertubc 4:01 am on September 22, 2012 Permalink | Log in to Reply
It is unclear whether or not this is the CEO talking about his product. The speaker in this pitch is quite an underwhelming presenter. He speaks in an extremely even tone, without a bit of excitement or confidence evident. From this pitch, it is unclear if the CEO has amassed the team and resources needed for success.
The world of the app is continually growing. Custom courses are evolving and being marketed to teach would be developers the skills to take their products from idea to production at a steady rate (at least from what I’ve seen in the US and in London). One thing I find disconcerting about this pitch is just how unspecific it is. It talks about the apps in a very general fashion, but they, nor their capabilities, features, etc., are ever shown. With new and improved apps being released every day, competition is on the rise; therefore I do not find the idea particularly original.
As I mentioned in my review of the Smugmug pitch, I believe that the market size for this product would be a factor that would need constant re-evaluation. With the accessibility of smartphone apps in many different fields, including education, the market size will undoubtedly grow, but will this product be able to keep up with the competition? Also, current numbers as well as projections would need to be reviewed before a sound judgment about success in revenue could be gauged.
I did not hear mention of anything specific to their product that would make it any different than what may already exist out on the market currently. The presenter only mentioned what sort of people buy the apps and the funding that they currently have.
The presentation did include a slide on business success, showing that the project is Angel Funded, cash-flow positive, has 150,000+ paid customers, and has 3 revenue sources (owned and operated, co-branding, and licensing). I still see the overall pitch as being too vague to consider serious investment. Couple that with the monotone presentation, and, as they say on Shark Tank, “I am out.” I would NOT choose to invest in Real Simple Edu (based on this pitch).
Patrick Pichette 1:00 pm on September 22, 2012 Permalink | Log in to Reply
No I would not invest in this venture based on the pitch alone. Once again, I would require additional information in order to understand the product being offered. At this point, I feel the only real knowledge I have is that they offer apps that can be used on multiple devices. How this is leveraged to solve a particular problem is not really attacked so I can’t commit funds without additional details.
bryan 2:36 pm on September 23, 2012 Permalink | Log in to Reply
No, I would not invest in this venture. The CEO doesn’t even really introduce himself or offer any of his credentials, expertise, or experience they would make the confident in his competence running a venture that I would invest my personal money in. What competitive edge or niche market Is simple EDU trying to target? The CEO tells us he has 150,000 customers but doesn’t tell us if their one time customers or repeat patrons of his company. The CEO doesn’t offer any focused specifics on what the marketing plan is as a company or what their venture plan is. This market pitch fails to offer short-term, medium-term, or long-term projections or goals with regards to profit, cash flow, or market capitalization.
What sort of return could and investor expect and how long is the predicted timeframe to acquire this return? At this point there are way too many questions than there are answers that I would not be prepared to invest. This pitch lacks a clear message or even a semblance of why someone would give them their hard-earned money.
jameschen 5:26 pm on September 23, 2012 Permalink | Log in to Reply
No, I would not invest in this venture. The pitch does not identify what the product actually is, what the market gap/problem the product addresses, and the solution it provides. No references about the team, competition, the ask and the return are made. The presenter, however, does provide some detail about the differentiation and marketing aspects of the venture but nothing solid enough to explain what the investor would be investing in.