One-to-One Teaching Platform Savvy Launches, Tapping a $105 Billion Market
A new startup launching today, Savvy, allows students and teachers to schedule appointments and join live video chats through an online platform.
The San Francisco-based startup aims to tap into a smart education-technology market that was worth $105 billion in 2015 and is expected to balloon to $447 billion by 2020, according to a report from market research firm Markets and Markets.
Savvy gives teachers in all manner of disciplines -- ranging from voice training for individuals who have recently undergone transgender surgery, managing your career as a dancer, somatic body movement to becoming a private investigator -- a way to advertise their skillset, book appointments either via live video chat or in person and accept payment.
Savvy makes a 15 percent commission on whatever a teacher charges.
"Today, there isn’t enough of the right education to go around. Traditional schools can’t keep up with demand, and often don’t teach folks the right knowledge at the right time," said Hamish Chandra, co-founder at Savvy, in a statement announcing the launch. "The biggest advantage with Savvy that learners can tap into a wide variety of experts from the convenience of their homes."
To be sure, there are other online education portals. For example, Udemy is an online education resource with more than 10 million students and 40,000 courses.
The difference is that Savvy connects teachers and students one on one. That allows for individually tailored instruction.
“For example, my co-founder is an immigrant with kids in Germany starting a company in California. When it was time for him to think about his finances, there were plenty financial planning videos and courses out there, but none that could help him figure out his specific situation,” says Chandra in a post with users on the discovery platform Product Hunt. “By giving him access to one-on-one teachers, he can talk about his specific questions and get answers he can actually apply to his life. As an extra bonus, he could also find a teacher who's been in his situation (i.e. starting a company while thinking about kids' college funds).”
To see more about how Savvy works for teachers and students, watch the YouTube video embedded below.
Catherine Clifford is senior entrepreneurship writer at CNBC. She was formerly a senior writer at Entrepreneur.com, the small business reporter at CNNMoney and an assistant in the New York bureau for CNN. Clifford attended Columbia University where she earned a bachelor's degree. She lives in Brooklyn, N.Y. You can follow her on Twitter at @CatClifford.