Making it through school can be difficult if you don’t have any help. In the past, students looking for homework help would have to stay after class or sign up for study groups. But technology now offers new opportunities. That’s where Studypool comes in.
The business, which was started in a college dorm, helps students find tutors who can answer their homework questions quickly. Read more about the company and its founders in this week’s Small Business Spotlight.
What the Business Does
Provides students with homework help.
Interested students can sign up for an account on the site and then post questions they need help with, along with a budget and deadline. Then the site’s tutors can bid on each question they’d like to help with. Student can choose a verified tutor based on their profile, reputation and reviews. Tutors then explain the question and help the students better understand their assignments. Students with simple questions of under 250 characters or one image can even receive help for free.
Providing answers quickly.
For students with upcoming deadlines, getting questions answered quickly can be paramount. So Studypool makes timeliness a top priority. According to CEO Richard Werbe, students can receive answers in about eight minutes on the site, which is 50 minutes faster than competing sites.
How the Business Got Started
In a dorm room.
Founders Werbe and Jimmy Zhong knew that they wanted to start a business. So, while they were in college at Emory University, they got the idea to start a website to connect students with fast homework help.
Getting initial seed funding.
“It has given us the chance to grow at a faster rate, hire more developers and help more students get their homework questions answered.”
Dropping out of school.
Luckily, Studypool has taken off. But if it hadn’t worked, the decision to drop out of school could have delayed or ruined other career options.
How They’d Spend an Extra $100,000
Hiring more full-time developers.
With more developers, Werbe says they could continue to improve the Studypool product.
Work as a close-knit team.
All of the Studypool team members are good friends. So they often do things together outside of work, such as going to dinner or sporting events. And Werbe says that makes the business even stronger:
“The closer you are with your team, the better you work together.”
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Find out more about the Small Biz Spotlight program.
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