How Bootstrapper Made $6m Last year Using New Self-Funding Method
Mar 28, 2024
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Discussing how Scholarship Owl hit $6m revenue, targeting college talent with AI algorithms. Exploring brand ambassador recruitment for Samsung, merging scholarships with advertising. Revenue structure optimized with premium tools and B2B partnerships. Scaling through strategic funding with FounderPath. Plans to utilize AI for student earnings and brand connections.
Scholarshipowl.com leverages AI for efficient student matching and targets non-educational B2B clients for branding and marketing.
The platform aims to scale B2B collaborations to reach $10 million in revenue while prioritizing efficient student targeting.
Deep dives
Scholarshipowl.com Connecting Brands to Gen Z Consumers
Scholarshipowl.com, led by David Abachnikov, connects consumer brands to Gen Z consumers, offering over two decades of tech experience, including roles at Google and Waze. With a focus on bootstrapping and remote team management, the platform leverages AI for efficient student matching. Over 150,000 students sign up monthly, encompassing high school and college-bound individuals.
Expanding from College to B2B Partnerships
While initially targeting schools for scholarships, Scholarshipowl.com now engages mainly with non-educational B2B clients like Samsung and BetterHelp. These brands employ scholarship campaigns for various objectives like brand promotion and marketing research. Pricing based on cost per application ranges from $20 to $30, contributing to student scholarships and promotional costs.
Growth Strategies and AI Implementation
As Scholarshipowl.com aims to reach $10 million in revenue, its focus lies in scaling B2B collaborations rather than increasing consumer charges. AI algorithms enhance user experience by streamlining scholarship applications and providing transparency. With over $1 million in scholarships awarded, the platform prioritizes efficient student targeting and simplifying the application process.
Companies like Samsung are sourcing college talent using Scholarship Owl. The firm hit $6m in 2023 revenue, bootstrapped. 150,000 college students join the platform monthly increasing the size and quality of the talent pool the company’s B2B customers can pay to access. Can he hit $10m this year?
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