The coronavirus pandemic means that remote working and teaching have suddenly become the norm.
Social distancing is birthing a new type of “coronavirus-proof” company; and these companies are surging in the current climate, including Perfectly Spoken – an online English Teaching platform.
Perfectly Spoken’s platform is already built and is working superbly. Hence, they were already experiencing superb levels of growth even before the outbreak.
Yet remarkably, since the coronavirus outbreak occurred in the UK, despite producing almost no advertising – Perfectly Spoken has experienced an even greater surge in growth.
Since February 20th:
- The average number of daily lessons completed has more than doubled from 1400 to over 3000.
- The number of active users has doubled from 1400 to 2800.
- The average number of daily new users has grown from 650 to over 1400.
- The number of daily new subscribers have skyrocketed by 600%.
- Churn rate (% of customers which stop subscribing) has decreased from 17% to 15%.
- Overall, their user base has grown from 325,000 across the world to 350,000.
Therefore, in financial terms since February 20th:
- Monthly recurring revenue has risen from $10k to $12.3k.
- Loan-to-value has risen to $80.90 to $87.40.
Moreover, Perfectly Spoken has further enhanced its appeal by re-designing and simplifying its ‘Home Page’, and creating a special COVID-19 landing page entitled “Here to help” – where they outline the additional free resources the platform has created, to drive users to their site and services.
Perfectly Spoken’s additional free resources include:
- Extra Facebook Live sessions
- New: regular webinars (almost daily)
- Unlimited access to their free courses (previously limited to 10 hours per month)
- Access to the NewsFlash course for the remainder of this month – powered by Reuters.
Lean and agile, Perfectly Spoken has further initiatives in the pipeline, which will drive even more traffic to their site and services, some of which will be made exclusively available for subscribers.
This surge in traffic and usage is outstanding news for Perfectly Spoken, a company which is showing resilience and resourcefulness in the current climate.
With £60k of this small £100k round already pledged, the company is close to finalising its seed funding and will continue to deliver its innovative service to the millions of people globally, looking to learn English.
To learn more, please click here.