Building a Venture Scale Two-sided Marketplace for College Prep to 8-Figure Revenue: Empowerly CEO Hanmei Wu (Part 7)

Sramana Mitra: That’s much trickier. What I see that’s really unique and very interesting in your business is the fact that you have taken a category—this college counseling or preparing high school students for college—which tends to be very transactional. You know, people pay on an hourly basis, and little bits and pieces, dribs and

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Building a Venture Scale Two-sided Marketplace for College Prep to 8-Figure Revenue: Empowerly CEO Hanmei Wu (Part 6)

Sramana Mitra: What you’re saying is that the lifetime value of the customers is very high. People sign up for an extended period of time to develop themselves and their resumes.

Building a Venture Scale Two-sided Marketplace for College Prep to 8-Figure Revenue: Empowerly CEO Hanmei Wu (Part 5)

Sramana Mitra: So, talk to me about the various business models. Is it the regular one – the college counseling one where you are hiring mentors or college counselors by the hour, and they’re being paired with the families that are seeking guidance?

Building a Venture Scale Two-sided Marketplace for College Prep to 8-Figure Revenue: Empowerly CEO Hanmei Wu (Part 4)

Sramana Mitra: It sounds like it’s a two-sided managed marketplace. What’s the business model? How much are you paying the counselors? How does this work out?

Building a Venture Scale Two-sided Marketplace for College Prep to 8-Figure Revenue: Empowerly CEO Hanmei Wu (Part 3)

Sramana Mitra: That’s interesting because you had already validated that there was a market for what you were offering. One of the things that I don’t like about demo days at all is that a company just goes into an accelerator with no validation, and within three months has to go in front of investors

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Building a Venture Scale Two-sided Marketplace for College Prep to 8-Figure Revenue: Empowerly CEO Hanmei Wu (Part 2)

Sramana Mitra: And what did you end up doing to address that itch? Hanmei Wu: Well, it wasn’t very planned out, to be honest. I was still quite young, only a few years out of college. I was just kind of doing it on my own at first, maybe just charging an hourly amount. I

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Building a Venture Scale Two-sided Marketplace for College Prep to 8-Figure Revenue: Empowerly CEO Hanmei Wu (Part 1)

EdTech is notoriously difficult to build at venture scale. Hanmei is doing it.