We cover lots of startups in this journal and a lot of the startup that we cover are not making any money. In fact, many of them are not generating any serious revenue. We cover them primarily because they represent cutting edge technology in a particular subsegment or a subsection of an industry. We are primarily concerned on how technology can be used to create economies of scale, cut costs and most importantly, bridge communication divides. These all have a positive impact on any organizations’ bottom line.
What makes this post’s subject Lesson.ly quite intriguing is that it is a startup that uses technology that has been around for a while. If you wanted to take an online quiz, you can. There’s so many websites that have fairly sophisticated online quiz capabilities. If you want to take an online test, there’s a lot of testing resources for that with varying degrees of complexity and rich feature sets. What makes Lesson.ly interesting is that it takes these different strands, comes out with its own spin and offers a cloud based approach to it. This might make you roll your eyes because in your mind, taking an online quiz is based on a cloud? What are you talking about?
Well, it’s all about packaging and it’s also about targeting. Lesson. Li focuses on corporate training— very lucrative space to be in. Companies incur a lot of costs when people are badly trained. Even if there’s not much training involved and you just need to orient a person, it costs money to put a living and breathing human being in front of them to break them in. This is why using services like Lesson. ly allows companies to get new hires or prospective hires up to speed regarding the company so they can streamline their cost and this is precisely why cloud based targeted services make a lot of sense. Lesson.ly is definitely validated in this respect because of its nice revenue growth. It’s clocking some nice sales and considering the fact that it’s highly targeted, we would expect that this pattern will continue into the future.