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"How Opinary grew from a side-project to 70 million users" by Cornelius Frey, Co-Founder of Opinary

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"How Opinary grew from a side-project to 70 million users" by Cornelius Frey, Co-Founder of Opinary

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Opinary started from a deep frustration: the difficultly to gauge public opinions on current issues online. So Cornelius Frey and his co-founders built embedded tools for publishers to measure just that. It was a hit and they started making revenues from an early point. Today, Opinary is used by millions of users in the newsrooms of +60 publishers in Germany, UK, and the US. Starting in 2013 as a bootstrapped side-project, the startup just closed a €3M series A.

In this presentation, Cornelius explains how bootstrapping allowed him to build a project out of passion, giving him the freedom to make the mistakes & choices he did. He shares how you can achieve financial independence fast if you focus on the right things ;)

Opinary started from a deep frustration: the difficultly to gauge public opinions on current issues online. So Cornelius Frey and his co-founders built embedded tools for publishers to measure just that. It was a hit and they started making revenues from an early point. Today, Opinary is used by millions of users in the newsrooms of +60 publishers in Germany, UK, and the US. Starting in 2013 as a bootstrapped side-project, the startup just closed a €3M series A.

In this presentation, Cornelius explains how bootstrapping allowed him to build a project out of passion, giving him the freedom to make the mistakes & choices he did. He shares how you can achieve financial independence fast if you focus on the right things ;)

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"How Opinary grew from a side-project to 70 million users" by Cornelius Frey, Co-Founder of Opinary

  1. 1. M A K E O P I N I O N S M A T T E R .
  2. 2. The problem: 98% of online content consumption is completely PASSIVE (*and some still wonder why their users don‘t convert)
  3. 3. Solution: Interaction. 150x higher engagement.
  4. 4. TH E IMMED IA TE IMPA C T of TU R N IN G EN GA GEMEN T IN TO LOYA LTY raised on-site engagement to up to 32% increased time on site by 33% increased sharing rates by 110% W I T H U S , H U F F I N G T O N P O S T U K decreased bounce rate by 24%
  5. 5. • NLP: multi language syntax parser, POS tagger, entity extraction • Mixed Membership Topic Modeling • Detect and infer relevant content with unsupervised Machine Learning Models • Every poll is matched and injected into meaningful semantic content A U TOMA TED D ISTR IB U TION : proprietary learning algorithms for safe, powerful editorial fit at scale
  6. 6. T H E S T O R Y B E H I N D T H E S T O R Y
  7. 7. 2014 IDEA: ORIENT & EMPOWER
  8. 8. REALITY: OVERWHELMED 2014
  9. 9. IT‘S REAL! 2015
  10. 10. AND NOW WHAT?! 2015
  11. 11. LET‘S GO 2016
  12. 12. IT‘S HARDER THAN WE THOUG HT. 2016
  13. 13. WE‘RE MAKING STUFF HAPPEN! 2017 **60m**
  14. 14. Reach: 250m users 2018 goals With monetized, automated partners Revenue: 5m ARR With long-term brand partners Crack UK/US & insights What are your users really thinking, and why does that matter?
  15. 15. 1. Keep your job and cut expenses Observations on bootstrapping (if possible….)
  16. 16. 2. No need for a proven model and category! Observations on bootstrapping (but definitely find/prove a user/customer need)
  17. 17. 3. Build something small and ugly Observations on bootstrapping (and get it used)
  18. 18. 4. It‘s only an experiment if you kill half of it Observations on bootstrapping (overcome your own harsh judgement and pivot early & often)
  19. 19. 5. What will you pay me if i ….? Observations on bootstrapping …verify actual, not wishful intent and need
  20. 20. 6. We‘ve run out of badges of honour Observations on bootstrapping SORRY!
  21. 21. 7. Guard your time Observations on bootstrapping Are your clients there? Or the people you want to hire? No? Don‘t go

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