|Name: Lillian Liao
NYU affiliation: Steinhardt
NYU status: Undergraduate
|Did you enter last year?: Yes
Do you have any teammates?: No
How many, including yourself?:
High Concept Statement
An education-focused version of Face which the end-users are Chinese high school/college students. Another end will be international individual educators and institutes.
After the social network platform “Renren” has died, there is no other app that successfully connects the high school/college students in China. Meanwhile, to meet the great needs of the high-quality educational resources in China, these app intend to solve the problems of poor connection and lack of premium education sources.
The Chinese are willing to spend tons of money on education and connections (evidence from the rising revenue from apps like Kwai, Douyin, and private educational agents). They will want a legit platform to communicate, bring their college social circle online, and find more sources on education (internatioinal wise). Our current competitor is a app called ” Panopath,” which is founded by a Cornell Student.
Because there is no a social app that currently provides a legit platform for effective educational communications and which the targeted users are all the Chinese college student, I envision that both the end-users will prefer my product.
There are lots of ways to design the revenue model. Since more end-users, more valuable the platform is, I will not charge the students with any registration fees. There are two potential revenue streams. Since part of the function is educational exchange and sources share, like what Amazon and eBay do, I can charge the commission per exchange or share on the educational individual/institution. Like what LinkedIn does, I can design a package for the educational institution, selling the student data for business use. On the social side (college community for example), like what QQ and WeChat do, I can design services that charge little amount for better communication entertainment.
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