Openwebinars: Learning tech in Spanish.
Openwebinars is the “Netflix” to learn development in Spanish. It is a subscription service that from €29 per month allows you to take whatever course and as many times as you want from the currently 181 available courses. And if you are a company you can contract their services by paying an annual license for each employee from 490€.
Openwebinars is a copycat of Pluralsight, but with all courses in Spanish, Pluralsight is a huge company that after getting $200 million of funding, currently is listed at Nasdaq with a market cap of more than $2.5 billion. Openwebinars identified the Spanish market as a very relevant niche and it is pushing to become the leader in Spanish e-learning tech courses.
The pain here is clear, “the lack of tech talent”. The demand for developers is growing faster than the supply, many people want to improve their developers' skills, and companies have to develop their teams to be more competitive.
Openwebinars is a marketplace business model because they don’t create the content, the courses are created from freelance teachers that receive a revenue share from the platform. Openwebinars is responsible for selecting the best professionals for each course, and they are supported to optimize content and methodology. The platform already has more than 120 teachers.
The team is comprised of three complementary entrepreneurs Manuel Agudo, Jesús Lucas, and Víctor Humanes. The CEO, Manuel Agudo is a great entrepreneur that has a long experience in eLearning, as a customer, and he knows very well the needs of the clients, this is one of the reasons that he is fostering Openwebinars in a very capital-efficient way.
Openwebinars has to different clients, on one side are the developers and on the other side are the companies. The best clients for the company in terms of lifetime and average order value are businesses however they try to get the maximum number of individual clients because they are ambassadors in their companies. If in the company there are employees that already used Openwebinars, when they try to sell to those businesses, the conversion rate is much higher.
We met Openwebinars in a Seedrocket Campus in Madrid two years ago, and we co-invested with Seedrocket4founders, All Iron, and with different mentors from the seedrocket campus. The venture is growing very well and we are very proud of the progress.
