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Course provider platform WeTeachMe provides lesson in growth – Follow the Founder
Since launching just over a year ago, learning courses marketplace start-up WeTeachMe has already attracted over 10,000 courses to list on its platform.
And co-founder Kym Huynh says the business is on track to list 50,000 by the end of this year with plans to also launch a mobile app around July or August.
WeTeachMe came second in StartupSmart’s recent So You Think You Can Start-up pitching competition and we’ll be following its progress for the rest of the year as part of our Follow the Founders series.
WeTeachMe helps course providers to grow revenue, save time and reduce costs by automating administration and booking processes.
Huynh told StartupSmart one particular course provider, one that teaches cupcake making, has brought down the time it takes to do administration from 14 hours a week to 15 minutes a week since using the platform.
Another, a pottery school, had been losing money and was about to close but is now one of the biggest earners on the platform.
“We’ve had companies break through the $100,000 barrier through their courses already,” Huynh says.
WeTeachMe earns revenue by charging course providers monthly subscription fees and charges a booking fee for tickets bought through the platform.
Huynh says the team behind WeTeachMe, Cheng Zhu, Demi Markogiannaki, Martin Kemka and himself, came together through a Launch 48 start-up event.
He says he and best friend Markogiannaki had been trying to work out how they could spend time together after finishing university instead of moving into the corporate world and thought of starting a business.
They took part in Launch 48 and formed a team with Kemka and Zhu.
A team of four is unusual for a start-up, with Huynh saying the typical number of founders was two or three.
“The more people you involve in decision-making, the more complexity,” he says.
Huynh says they combated that by “really getting to know each other”, comparing it to dating.
But it’s worked out and he says people comment on how well they work together and are able to quickly execute on their plans.
He adds that if there is any conflict they deal with it by being very direct with each other.
“We think if there’s something someone is upset about, communicate it straight away and resolve it straight away.
“We think communication is the cornerstone of every team. Everything we do is focused around communication.”