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
notificationsabout
aboutprofile
profileinvitations
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