CODERSTRUST UPDATE MAY 2016
Dear investors, advisors, colleagues, students, and friends,
Here is another quarterly update on CodersTrust. Since our last update we have succeeded in scaling CodersTrust to cover more than 8 countries (Buthan, Malaysia, India, Kosovo, Poland, Somaliland, and Kenya) serving more than 1.000 students. Our market entry in every country has been backed by a major financial/government institutions (World Bank, Rockefeller, Government of Buthan/Malysia, etc) as a pilot project to establish a local operation before scaling number of students locally. We now have a global operational network of mentors and entrepreneurial managers ready to scale.
- KEY PERFORMANCE INDICATORS
You’ll find the overall company funnel in the conversion matrix below:
Here is a brief overview of the composition of students in terms of 1) Funding model, 2) Fully online/Blended classroom and 3) Country:
Here is an overview of the earning statistics. We’re still working on refining the accuracy of the data by connecting more freelance portals to register data automatically, but the numbers below provides a good indication of the overall key performance metrics for the student earning.
Below you’ll find the students drop-out ratio which is high in the beginning, but it drops dramatically over time.
2. STUDENT OPERATION
We have been working on a new customized “Learn & Earn” path for the last three month to standardize, optimize and improve our student offering based on our experience from Dhaka and lesson learned from starting up new batches.
The new “Earn & Learn” path enables us to make CodersTrust 100% online as the starting point with local affiliate centers as a complement to our online offering.
You can read more about the CodersTrust online platform in this blog post
3. PLATFORM DEVELOPMENT
We have established a 6 person strong development team in Kosovo to launch the new and streamlined online platform ready for fully online learning with an even stronger focus on student data and tracking. Based on this new and improved platform, we’ll be able to centralize student operation with small local mentor teams in each country. Check out the design and userflow here. Furthermore, we’ll be able to launch a new and improved loan product.
Pictures says more than a thousands of words about our local operations.
With the outlook of scaling our local operations and the financial backing of our local partners, we’re currently looking to raise our Series A to finalize the issuing of our impact bonds, automate the full loan cycle, standardize our “Learn&Earn path”, and scale the number of students.
You are naturally welcome to write me or Cayo, if you have any suggestions/ideas to potential institutional investors that would be interested in either our series A or our upcoming impact bonds.
Check out the following blog post for more updates:
- CodersTrust Online Learning Platform
- Meet a pioneering student from CodersTrust
- Meet our students from Kosovo
- From the slum of Dhaka to rockstar freelancers
- The power of TRUST
Stay tuned for more updates from CodersTrust.