THE EVOLUTION OF RECRUITING ANALOG - Newspapers - Help wanted ads ONLINE JOB BOARDS - Monster, Indeed - Online job placement NETWORKS - LinkedIn - Access to passive candidates STEP - Platform dedicated to eliminating the inefficiencies of online passive recruiting THE NEXT STEP On Step, employers will never miss the right candidate… And professionals will never miss the right opportunity again RECRUITING ON LINKEDIN EMPLOYERS WASTE TIME PROFESSIONALS FEEL SPAMMED BY Finding the right talent Irrelevant Jobs Incomplete profiles Vague opportunities Crafting communications Lack of privacy Low response rates THE MARKET 6 MILLION 120 MILLION $31 B US COMPANIES US PROFESSIONALS US 1.3 MILLION 38 MILLION $15 B HAVE OVER $1M REVENUE MAKE OVER $60K SALARY ADDRESSABLE THE MARKET LINKEDIN TALENT SOLUTIONS REVENUE ($MILLIONS) Over $1 billion in LinkedIn Talent revenue alone HOW STEP WORKS Contact flow between professionals and employers PROFESSIONALS EMPLOYERS CREATE PROFILE SEARCH FOR FREE Identity is anonymous Results ranked by relevance ACCEPT TO UNLOCK INVITE TO UNLOCK Full profile revealed for 4 months $4 to send an invite PROBLEM #1: EMPLOYERS WASTE TIME SOLUTION: THE STEP PROFILE UNPRECEDENTED SEARCH FILTERS Define the skill set, responsibilities and work style of your ideal professional RELEVANT SEARCH RESULTS Step returns search results based on relevancy and professional caliber Professionals’ preferences stated upfront, before unlocking UNLOCKED PROFILES Detailed profiles driven by structured data UNLOCKED PROFILES In-depth info for each work experience UNLOCKED PROFILES A professional’s career growth, visualized UNLOCKED PROFILES Assessing culture fit from work style and core values UNLOCKED PROFILES Extent of expertise for each skill and responsibility PROBLEM #2: PROFESSIONALS FEEL SPAMMED SOLUTION: THE CONTROL CENTER ROBUST RULES ENGINE I want receive push notiļ¬cationsabout aboutprofile proļ¬leinvitations invitatios I want to to receive push notifications Send all invites to me Only send invites when they meet the following: Send me invites only from these companies: Send me invites only with a minimum compensation of: Send me invites only from these industries: Send me invites only from companies of this size: Professionals have full control over the types of job invites they receive Send me invites only from these stages: Send me invites only for these job roles: PROFESSIONAL ANONYMITY Professionals’ identities protected until they reveal themselves CAREER INSIGHTS Step delivers back to professionals all the aggregated transaction data WHO’S SEARCHED YOU EXECUTION STRATEGY Focus on top tier companies and professionals leading up to launch WHAT STEP WILL DO Recruit top talent for free PREMIUM EMPLOYERS Offer free VIP services TOP 20% OF PROS Direct sales ALL EMPLOYERS Traditional brand and variable marketing ALL PROFESSIONALS -3 –2 –1 CLOSED BETA 1 OPEN LAUNCH 2 3 4 5 6 MONTHS MARKET COVERAGE Expand and dominate one micro market at a time STARTUPS REPEAT WITH IT COMPANIES BEYOND STARTUPS REPEAT WITH ACCT & FIN COMPANIES ALL OTHER INDUSTRIES MICRO MARKET CASH FLOW IRR surpasses 66% as we hit scale and gain efficiencies STARTUPS BEYOND STARTUPS Scale IRR NYC 1 Cash flows normalized to aggregated NYC OTHER CITIES SF in 000’s IRR YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5 NYC TECH 22% $(852) $139 $388 $461 $508 CITY AT SCALE1 66% $(876) $366 $864 $964 $1,033 INVESTMENT SCHEDULE TIME FRAME INVESTMENT LAUNCHES SUCCESS CRITERIA STAGE 1 STAGE 2 STAGE 3 Present through Q1 2016 Q2 2016 through Q3 2017 Q4 2017 to end of 2018 $2.5M $5M $25M NYC startups (Tech & Marketing) Rest of NYC startups SF startups (Tech & Marketing) Rest of US startups US IT companies 12K pro’s 1.2K employers 47K pro’s 5K employers 550K pro’s 25K employers THE STEP TEAM LAX CHANDRA MITCH KUSHINSKY WEI YAN JENNIFER CHU CO-FOUNDER, CEO CO-FOUNDER, COO INTERIM CTO HEAD OF MARKETING President, WizKids Head of Product, Quidsi CTO, Quidsi VP of Brand Strategy, Usell KEY ADVISORS Marc Lore – Co-Founder of Quidsi, Founder of Jet.com Vinit Bharara – Co-Founder of Quidsi, Founder of Café.com HR Advisory Board - 3 prominent members in HR, Hiring and Development OUR ASK • Seed round of $2.5M • $325K raised • Convertible note • 20% discount • 7% interest rate • $6M cap THANK YOU LAX CHANDRA | Lax@step.com MITCH KUSHINSKY | Mitch@step.com