Transcript of the January update:
Welcome, investors and shareholders to the January 2017 Gooroo Ventures investor update. I hope you all had a great break over the festive period.
In this update:
- I'm going to cover some commentary on our Quarterly Report
- I'm going to talk about a USA expansion and what that means
- I'm going to cover the momentum that we've been able to create in the business and what that means, and
- Finally, I want to introduce you to one of our key management team.
Commentary on the Quarterly Report
Let's start with the Quarterly Report. As mentioned in the prospectus and in all the updates up until now, our focus in this last quarter has been about investing and preparing ourselves for commercialisation. What does commercialisation mean? It means driving adoption and revenue.
The investment in the last quarter was all about building our product team, building our sales capability and processes and putting in place all the necessary steps to make the USA launch a success.
Where do we find ourselves now? Well, we've just launched into the USA and we're focused on driving revenue and adoption of our platform this quarter.
I'd now like to cover the recent market update we made regarding a USA launch. There are three points I want you to take away:
- We've exited beta and we are now ready to take on revenue and subscriptions.We've deployed an inside sales team into the USA market. What that means is that they are making contact with hiring organisations that we know need talent, and
- What's particularly exciting is that that team has already - within just 48 hours – brought on over 160 new customers that have a need and that will be engaging with Gooroo to drive revenue and sales and jobs and connections. This is particularly exciting for this current quarter moving forward.
Now I'd like to share with you how this relates to the broader momentum in the business.
As you know, Gooroo connects hiring organisations with talent - those that need expertise with those that have the expertise. Let me show you the momentum.
We've got talent and we've got the hirers that need them.
On the talent side, in January 2015 we had 1,000 members. Take that through to January 2016, and we had 2,000 members. Now in January 2017, we have 17,000 members registered and verified.
On the hirer side in October we launched our pilot program. So in October 2016 we had 10 hirers. In November 2016 we then opened up our beta program where we added another 120 hirers into that program to make 130 hirers. In January 2017 we've just exited beta and we've launched into the US, and in just two days (48 hours) we've added another 162 hiring organisations onto the platform.
So what this does is it sets us up for a really strong quarter.
As we drive hirers into the platform, they invite talent - as explained in last month's update - they invite talent to consider their opportunity. It's when talent accept that invite Gooroo makes money.
We know that this is a good experience because talent no longer have to search for opportunities and hirers no longer have to wait for applications to flow in.
Introducing Gooroo’s COO
So there are the points that I wanted to cover off with you today, but before we go, I'd like to introduce you to one of Gooroo's key management team members, Jose Herrera Perea, our Chief Operating Officer.
Jose Herrera Perea: “I'm really excited about the opportunity to build a global marketplace that helps tech people to find the right job in the right company.”
Thank you. We'll see you next month.
Please note that this transcript has been edited slightly for readability.
ASX announcements mentioned in this update:
Investor & media enquiries
Mr Peter Nesveda
Corporate Affairs & International Investor Relations, Intuitive Pty Ltd
Tel: +61 3 9504 8420, Mob: +61 (0) 412 357 375
Email: [email protected]