Homework Experts Marketplace
Marketplace
A platform where students can hire subject experts for homework help
Published on
July 2, 2024
$62,000
Asking Price
Main Metrics
$40,000
ARR
300
Customers
2021
Launched
$50,000
Asking Price
Already Sold
Main Metrics
$40,000
ARR
300
Customers
2021
Launched
Overview
<p>I started this project as a side hustle in my first year of college. I did the homework of and tutored my friends. They then referred their friends, and their friends referred more friends.</p><p>I just graduated, and so far, we’ve brought in $150k in gross revenues, accomplished 6,000+ assignments with a B+ grade, and our annual revenue is at $40k growing 2x YoY. Gross profit margins at this service are at 50%.</p><p>On the side, we built AI part - an AI answer engine for SEAn college students. We added college-specific features like intext citations for every answer and a ‘humanize’ button to beat anti-AI detectors. In 4 months, it grew to 600 MAUs. We are now in the process of training it with our proprietary data (about 30,000 pages worth of lesson plans, notes, syllabi, etc.) taken from the top 4 universities of the Philippines. By September, we will monetize this through a freemium version. </p><p>I bootstrapped this product, and have constantly been reinvesting net income to grow the business. We now have a strong team of 10 people and 300 on-demand subject experts. </p><br/>
✅ $40,000 in Annual Revenue
✅ 300 customers
✅ Business model: Commission
✅ Built with Ruby on Rails, ChatGPT, Python
$40,000
Annual Revenue
300
Number of Customers
Expenses
$8,000 for Task Managers and COO;\n$2,000 for Admin;\n$2,000 other costs;\n$20,000 for COGs (Payment to subject experts).
Business Model
For the homework help section, users pay per use. Our app takes 50% and our tutors take 50%. For AI part, we will launch a freemium model on September.
Target Audience
Highschool, undergraduate and graduate students in SEA.
Asking Price Reasoning
Global EdTech startup multiples is 5x annual gross revenue.
Reason for Selling
I feel that the startup can grow more with a better operator. I also want to focus on another opportunity.
Growth Opportunity
In South East Asia, the SOM is at $11b, SAM at $32b, and the TAM at $110b. We plan to ride this growth through 4 GTM Strategies. 1) Great Content & Meta Ads 2) Expand our Profs to Pick Tool 3) School and Organization Partnerships 4) Marketing Interns.
30 days free support from seller
Competitors
Customwritings.com, Tutorbin, CourseHero, SnapAsk.
Tech Stack
Python, ChatGPT, Ruby On Rails.
Traffic Metrics
Revenue Metrics
How it works
$62,000
Asking Price
Already Sold
Main Metrics
$40,000
ARR
300
Customers
2021
Launched