Craigslist Foundation Kiva Presentation
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Transcript of Craigslist Foundation Kiva Presentation
- 1. Succeeding asan EmergingSocialEntrepreneur Craigslist Foundation Bootcamp Premal Shah President Kiva www.kiva.org "Revolutionising how donors and lenders in the US areconnecting with small entrepreneurs in developing countries
2. Kiva 101 Internet Lender Online marketplace Local Partner (MFI) Entrepreneur Money Information 3. +345,000 social investorshave lent + $45 millioninfirst 3 years.
- Other Key Stats
- Growth:$1M loans every 10 days.
- Risk:+97% repayment rate.
- Recycle Rate:65% repayment rate.
- NGO Network:105 NGOs in 45 countries.Growing 3 a month.
- Traffic: 700,000 visitors last month
- Organization:35 employees / +400 volunteers
- Efficiency:Platform raises $8 in loans for every $1 donated.
5 yr goal = $1 Billion 4. Kiva applies 3 Web 2.0 principles to philanthropy
- Create an Addictive Donor Experience
- Be Radically Transparent
- Crowdsource against constraints
5. Create an Addictive User Experience
- Addictive = Easy + Fun
6. How Kiva tries to make it Easy Designed for everyday people, not affluent experts See your impact in human terms Low cost to entry Quick and easy checkout 7. How Kiva tries to make it Fun Rich user generated content, changing fast... Loans are fully funded in hours Transactions happen every 18 seconds Real time un-edited updates Randomized1 minute of fame + Lending Teams 8. For some, Kiva is becoming very addictive! 9. Be Radically Transparent Transparency AuthenticityTrust 10. Kiva and Radical Transparency Paying for Kivas overhead is an explicit choice 11. Kiva and Radical Transparency Data inaccuracy and defaults are made explicit 12. Crowdsource against constraints Big constraint? + No resources? =Crowdsource 13. Kiva and Crowdsourcing Kiva Fellows Program How do we train MFIs, gather progress updates and verify data accuracy hyper-fast? 14. Kiva and Crowdsourcing Kiva Translator Program How do we immediately translate entrepreneur profiles from native language to English? 15. Kiva and Crowdsourcing We have little money, but great partners!
- Discounted pricing
- MySpace fundraising widget
- ATM/Debit Card solution for Intl
- Free Google Checkout
- Free Adwords
- Non-profit channel
- Build your own page and recruit friends
- Free / discounted technology
Free licenses 16. Actionable Takeaways # Web 2.0 Principle Actionable Takeaway 1 Addictive donor experience
- Make it Easy:
- Show me photos of atomic units
- Allow / encourage $1 contributions
- Make it Fun:
- Photo upload is the 80/20
- User testimonials
- Build community + competitions
2 Radical Transparency
- Start a blog
- Admit imperfection every step of the way
- Let people contribute w/o paying for you
3 Crowdsource against constraints
- Hard time getting traction in the beginning?
- Ink is cheap:Build a huge advisory board
- Evite: permission based marketing tool
- Rally college students and recent grads