Homework Experts Marketplace

Marketplace
A platform where students can hire subject experts for homework help
Published on
July 2, 2024
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.&nbsp;</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.&nbsp;</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

Main Metrics
$40,000
ARR
300
Customers
2021
Launched

$62,000

Asking Price
Already Sold
Founder Details
Dave
Read the story
Main Metrics
$40,000
ARR
300
Customers
2021
Launched