Every day, there’s another event-related cancellation owing to concern around the coronavirus. Just today Microsoft announced it will not have a presence at the Game Developers Conference in mid-March “out of an abundance of caution.” Facebook also said today that it is canceling its annual F8 conference scheduled for May over coronavirus-outbreak concerns.
The last is a particularly big deal. F8 is by far the largest event that Facebook hosts every year, so it’s little wonder that it plans to host part of the event online.
Likely, Facebook will use its own tech toward this end. But there is a new option for other companies that are right now second-guessing their own event plans, and that’s Run the World, a year-old, 18-person company that’s based in Mountain View, Ca., and has small teams both in China and Taiwan.
What it’s doing: smooshing together every functionality that a conference organizer might need in the time of a pandemic. Think video conferencing, ticketing, interactivity, and networking.
Who’s backing it: Andreessen Horowitz largely, though Run The World — which has raised $4.3 million in seed funding — also counts as investors GSR Ventures, Pear Ventures, 122 West Ventures, Unanimous Capital, and angel investors like Kevin Weil, the VP of product at the Facebook subsidiary Calibra; Patreon cofounder Sam Yam; and Jetblue Airways Chairman Joel Peterson.
Who started it: Xiaoyin Qu, who is the CEO and previously led products for both Facebook and Instagram (“basically anything to do with entertainment influencers and creators,” she said of part of her time at Facebook).
She dropped out Stanford’s MBA program after a year to start the company last year with Xuan Jiang, a former colleague who was a technical lead for Facebook events, ads, and stories. (Jiang does have a master’s degree — one in computer science from the Georgia Institute of Technology.).
We talked with Qu yesterday after learning about the company from Connie Chan, the general partner who led the deal for a16z.
Qu says the impetus for the startup ties to her mother, a doctor in China who focuses on meningitis and traveled to a conference in Chicago in late 2018 where she made a connection with a Dubai-based physician. It was a fruitful meeting, given the doctor was able to share with her some rare, valuable insight into his own work around meningitis.
While that might not seem so exceptional to those who travel regularly, it was striking to Qu. As she explains it, because her mother had to secure a visa, take off two weeks around the event, including for travel days, and spend a fortune on airfare and accommodations, it was the first major trip she’d taken in 35 years. Both mother and daughter wondered what other insights she might have gained otherwise.
As Qu half-joked, “It isn’t like at Stanford, where there are events held regularly that [local] doctors can even walk over to.”
Indeed, like a lot of founders who solve a pain point for themselves of someone they love, Qu wanted to create a platform where her mother could meet and have meaningful work connections with people regularly. The solution she struck on: digitized events.
Turns out, Qu’s timing is pretty good. Though numerous startups have launched live online events businesses in the past (many of them since shuttered), you can bet many more organizers are thinking about exactly the type of platform that Run the World is fine-tuning right now.
Though publicly launched just four months ago, it has already hosted numerous events and has a bunch upcoming. One of its customers is Wuhan2020, a large open source community with more than 3,000 developers who will be using the platform as part of a long-distance hackathon that hopes to produce tech solutions to those affected by the coronavirus in Wuhan.
Qu also mentions an elephant conservation reserve in Laos that was recently able to raise $30,000 from donors from 15 countries in two weeks through a conference they organized on the platform. The reserve had a constrained budget, but being able to bring together a distributed audience (beyond just wealthy donors) for nearly zero overhead (no venue, no catering), turned it into a major success for the organization.
As an example of a smaller event, a dating coach who specializes in working with engineers recently held a workshop where just 40 people showed up but she was able to make $1,300 from the event, says Qu.
Run the World keeps the cost structure simple, taking 25 percent of ticket sales in exchange for what it provides organizers, from the templates they can choose for their events, to the ability to sell tickets, to processing those payments (via Stripe), streaming the event, enabling social interactions throughout the event, and helping organizers follow up with attendees afterward.
Indeed, beyond enabling organizers to reach a wider audience at perhaps a more accessible price point, a big advantage conferred by online events is the potential for more effective networking, insists Qu. For example, rather than walk into a physical space where it’s sometimes hard to know who to talk with about what, Run the World asks every event attendee to create a quick video profile akin to an Instagram Story that can help inform other attendees about who is with them online. It also organizes related “cocktail parties” where it can match attendees for several minutes at a time.
Naturally, there are downsides to streamed live events as the world was reminded last year, when a gunman filmed the mass murder of 51 people in Christchurch, New Zealand on Facebook Live. One could also imagine that those video profiles could attract unwanted attention to some attendees who might rather just watch an event.
It’s certainly something about which Qu and Jiang are well aware. While the plan is to keep adding new features (including, potentially, to use LinkedIn to validate attendees’ identities), Qu notes that another way to ensure the quality of the events on the platform remains high — and that attendees feel safe — is to steer clear of most free events. “When organizers are recruiting their own people and curating a community” of people who they know or can ostensibly learn more about, it keeps things above the level, she suggests
As Run The World scales, she concedes, “we’ll need to figure out new ways.” Certainly, the lessons learned at Facebook and Instagram should help, she says, adding: “The ideal event to me isn’t one with 2 million people. I’d rather we hosted 2 million events with 50 people.”
"Startup" - Google News
February 28, 2020 at 04:24AM
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Andreessen Horowitz has backed Run The World, a startup with a timely offering: live online events - TechCrunch
"Startup" - Google News
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