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Readlax
Speed Reading Tools
Ukraine, Kyiv city
Market: Education, training, Services
Stage of the project: Prototype or product is ready
Date of last change: 21.06.2019
Ukraine, Kyiv city
Market: Education, training, Services
Stage of the project: Prototype or product is ready
Date of last change: 21.06.2019
Min investment
$ 30.000
$ 30.000
Idea
Build Reading Platform to reading online and train speed reading skill. Train reading speed and Get Knowledge Faster
Current Status
- Chrome Extension (Beta Prototype) +
- Website with Exercises (in progress) +/-
- Mobile App with Exercises (not started) -
- Acrobat Reader Add-on (not started) -
- Website with Exercises (in progress) +/-
- Mobile App with Exercises (not started) -
- Acrobat Reader Add-on (not started) -
Market
- Google books users
- Scribd users
- Kindle users
- Students
- Self-Educated persons !!!
- Scribd users
- Kindle users
- Students
- Self-Educated persons !!!
Problem or Opportunity
Get Knowledge Faster
Solution (product or service)
- Train Focus when read (Google Books, Scribd,…)
- Block Subvocalization
- Train Phrase Recognition (Decoding)
- Train Comprehension
- Train Retention (Memory)
- Block Subvocalization
- Train Phrase Recognition (Decoding)
- Train Comprehension
- Train Retention (Memory)
Competitors
- Spreeder CX Desktop App
- Spritz website and Chrome Ext
- Legentas website (online training)
- Iris App (Mobile: iOS, Android)
- Spritz website and Chrome Ext
- Legentas website (online training)
- Iris App (Mobile: iOS, Android)
Advantages or differentiators
We are building complex solution with concrete goal - give people knowledge faster
Finance
- We have $20 k own money
- Looking for connections to grow Product
- Looking for $150 k for 2018
- Looking for $1 M for 2019
- Looking for connections to grow Product
- Looking for $150 k for 2018
- Looking for $1 M for 2019
Business model
- Freemium model with 2% conversion from Free to Paid plans
- 2-3 $/month Subscription plan with 2 week trial
- 100k Subscriptions ~ $2.5 M per year
- 2-3 $/month Subscription plan with 2 week trial
- 100k Subscriptions ~ $2.5 M per year
Money will be spent on
hireing more developers and marketing
Offer for investor
150 000$ for 6-7 %
Risks
The biggest risk that people don't believe that get speed reading skill is real
Incubation/Acceleration programs accomplishment
No
Won the competition and other awards
We get the invitation to Startup Istanbul and the project become TOP 100 startup to take apart there. Hacker News from Y Incubator write post about the project Chrome Extension on their facebook page
Photos
Product Video
Website address
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