Pangaroo is a P2P Q&A platform for university students. Students here can post their academic questions, offer some rewards, and get answers from experts (teachers or other students) in instant messages. Answerers will be rated by askers on their reputation and get rewards offered by askers.
University students always get questions when self-studying in their major fields, but have to spend too much time on searching answers on Google or waiting for replies on Q&A forums such as Quora. In most instances, they want to get academic knowledge and experiences from someone directly. This problem surprisingly exists for so long time and hasn’t been resolved effectively.
Pangaroo, as a peer-to-peer Q&A platform, aims on solving this problem by connecting students who have questions with those who are able to answer these questions person-to-person, in instant messages. A student can post a question, and the user who choose to answer this question will connect to him/her and have a discussion in private message. After solving the question, the answerer will be rated by the asker. This rating system will maintain a high quality Q&A ecosystem for Pangaroo.
A specific customer segment we target to is university students, and at very initial stage, is all undergraduate students and graduate students in Canberra.
Customer 01 - Students who have questions to solve in their daily study.
Self-studying in major field is a process to continuously post and answer questions. However, this process has always been a painful one, for it takes students too much time on screening information on Google. Waiting for replies on Quora is another awful user experience for students when they try to discuss academic topic thoroughly with answerers. In our campus survey, more than 70% students tend to have discussion and get answers or experiences from a person directly, with 80% among them are even willing to pay for those who solve their problems.
Pangaroo aims on satisfying their needs by connecting them directly to experts (teachers or other students) in the same field, getting them deep discussion with experts in instant messages online and providing them the most efficient way to solve their specific questions in major fields.
Customer 02 - Students who have the ability to answer questions.
Moreover, nearly 90% students are willing to help others in the same major field. And those who have the ability to solve others’ questions are usually students with high grades or with experiences on taking a course. This customer segment are sophisticated in their major field but they also concern about their future. They want to get better job after graduation so that they are eager to turn their knowledge and experiences to competitiveness in their future employment.
For these customers, Pangaroo provides a rating system for them to show their ability and competitiveness to some major companies. Students need to solve askers’ questions well and get good rating from askers. And their ratings will be shown to companies as their employment references.
Customer 03 - Companies which need to match potential employees precisely.
Companies are facing difficulties on finding suitable employment. To match suitable and professional employees, companies have to spend money and time on advertising and interviewing.
With rating system in Pangaroo, we are able to recommend the most suitable and excellent potential employees to those companies precisely and efficiently.
We are competing with Q&A forums and online tutoring products, but our product is very different from them. With the peer-to-peer mode and the rating system, Pangaroo has four main competitiveness: efficient, in-depth, rating earning and free to use, which makes improvement beyond those products.
In Pangaroo, askers communicate with answerers in instant messages online. It’s a more efficient and fluent user experience than Q&A forums such as Quora and Stack Overflow. Within a connection every time, both side of users can get messages continuously and instantly from each other, with no need to refresh the webpage again and again and expect replies appear. Thus, users can focus more on discussing questions and getting answers in a more efficient way.
With peer-to-peer mode, users can also get knowledge or experiences on in-depth topic. Since it’s more efficient to communicate on Pangaroo, students can have thorough discussion with the answerer on in-depth topics. Moreover, students who have questions about a specific course can just get experiences from those who have taken this course before. This convenience cannot be provided by Quora or Google.
What’s more, to get more ratings for getting competitiveness and sense of achievement, students will try their best to answer others’ questions, which keeps the Q&A community in a high quality and also in an active user engagement.
As to online tutoring products such as Chegg, users need to pay $15/month to use it. Pangaroo however is more friendly to users. With registering and using for free, Pangaroo welcomes all students or non-students come in and offer their value to the community. Users may offer rewards to answerers if they want, but do not need to pay any fees to use it.
Up to now, student segment has become a big potential market in the world. This broad market will bring us at least 30,000 students in Canberra, around 1.3 million of students in Australia, and 210 million in global, with increase in the number every year. Our goal is to engage as many students as we can, to offer them a platform to help each other, communicate knowledge, exchange their minds and demonstrate their values.
In the very first stage (2018 - 2019), we focus our user segment on students in IT field and business field in Canberra. We are developing our minimal viable product (website based). Once we get seed money, we will develop our beta version product and applications (Android and IOS), cooperate with more companies (around 10 companies) and get more users (about 5,000 students) in ANU or UC as fast as we can. In the next step (2019 - 2021), we will expand our user segment to 20,000 students in areas around ACT in broader major fields such as engineering, law and science. In the future, we will expand our business to the whole Australia or more countries in the world, building up a complete business ecosystem for Pangaroo.
Pangaroo is a platform for students to get guidance directly from those who can answer their questions in the same major field in instant private messages. This can save them a lot of time on searching answers on Google or waiting for answers on forums when self-studying. On the other hand, we use rating system to motivate more students join in and answer others’ questions in Pangaroo.
As our campus survey shows, 73% students think they need to find someone directly to answer their academic questions, and 90% students are willing to offer their help to others in their major. It’s a broad market, and we satisfy both customer segments’ needs by matching them together. We are developing our alpha version website and contacting with some companies for their support. We hope to get more advices about market, venture plan and pitch from our mentor.
We have developed our alpha version website, and will develop our application on Android and IOS in the next few months. Customer 01 will use our website or application to post their questions, communicate in instant messages, and rate for askers. Customer 02 will see a list of questions in their interface. They can select one of them to match and send message to. In chat window, users can send texts, pictures and codes. They also can video chat with each other. As to Customer 03, we will offer to-business scenarios to recommend the most suitable potential employees to them.
We are going to spread our brand by advertising on search engines or social networks. Users may hear us on Facebook, Google, WeChat, etc. And to get feedback from users, we have built up our Facebook group and get about 30 fans. Here users will let us hear their voices and help us refine our product.
Our team is composed by six young and creative guys. We have high learning ability and strong execution, and we are trying our best to create value for people. Because we are students, we know better on how student market is. What’s more, we have three developers and we are releasing our website soon. We also have get support from some companies in Canberra, such as Canberra Blockchain Centre, Ufoodie and Emmersion, and also companies in China such as UniCloud Tech. They have shown their interests to our venture and they are willing to collaborate with us and offer their resources to us.
To make our venture a reality, we need to collaborate with more major companies so that we can make Pangaroo to be more attractive. And because we are going to use blockchain to ensure the reliability of our rating system, we expect to get more technical supports on blockchain and more developers to achieve that. More users answer questions, more students will come in and post questions, which will be a virtuous circle to our user ecosystem.
So welcome to join us! If you want to collaborate with us, don’t hesitate to contact us in email: email@example.com. Our team leader is a passionate guy and he will have coffee with you.
Product development and marketing will be the main costs of our business model. We need to rent servers, develop application on both Android and IOS, and release it onto app stores. We also need to advertise on social networks or other platforms to get more students know us. Here is our funding sought list according to current market price:
1. Product development
Because we have our own developers to build website and apps, we have saved huge amount of development costs for our venture. However, we still need to get more developers and solve some technical or designing problems. That will cost us about $6,000 to design our UI and build applications, quoted by Intellectsoft.
2. Marketing promotion
We will boost posts on Facebook to students in ACT as initial marketing for 100 days, which costs around $500. We will also advertise on Facebook and Google, which may cost $100 - $500 per campaign.
3. Operation and maintenance
Server rental = $0.2 / hour = $144 / month, for 12 months with two servers of Amazon Web Service, it totally costs $3,456.
App store publication = $135 / year on Apple App Store, and $35 on Google Play, which totally costs $170.
Thus, with other registration fees and agency service fees to register for trademark and company, our funding sought will be about $11,000 in total.
Up to now, we have got technical support from Canberra Blockchain Centre. They will also offer us their experts in IT field as initial answerers in Pangaroo to help students. With collaborating with Ufoodie and Emmersion in Canberra, we will get experts in marketing from them. In return, we will allow them to advertise on Pangaroo for free in a year. What’s more, we have just collaborated with UniCloud Tech as our customer. They have the need to get precise recommend on graduated students as their potential employment and they’d love to use our rating system as reference.
We have also built up connections with ANU teachers in CSIT, CBE and mathematics. They have shown their interests to our product and they are willing to answer students’ questions in Pangaroo since this can help themselves in turn to get students’ feedback on study progress. If students can also be our partnership, then we have get nearly 40 passionate students who are interested in using Pangaroo to solve their questions. We built up a Pangaroo community for them on Facebook to hear their voices and get feedback.
Our customers are students who have academic questions to ask, students who are able to answer questions and companies who want to get precise match with suitable potential employment. Students don’t need to pay for registering or using Pangaroo. Instead, they will offer rewards in real money voluntarily to those who solved their questions if they want. Though the amount of rewards is set by user themselves, it’s supposed to be $5 - $20 according to our campus survey on hundreds of uni students. Pangaroo will charge 10% of every reward payment as our profit.
What’s more, students can also pay for getting better service in Pangaroo. At present, there is only one payment selection: $9.99 / month to show questions to more potential answerers. As to recommend information to companies, according to present market price, we will charge $5 per person recommend fee from them. In the future, we will also build up our advertisement system for those companies who want to advertise on our platform, with setting the advertising price by present market price as well.