What they do: Eden provides on-demand IT service for consumers and businesses. The company offers on-demand tech pros that will come to you, based on a specified time and location, and solve your tech problems.
Why it’s a big deal: It’s 2015, everyone depends on multiple devices at home and work, while business services are increasingly moving to cloud servers — limiting the need for on-premise IT professionals.
$30 billion is spent every year in the U.S. on technical help. But actually having someone show up to fix issues at home or work is a pain. Competitors like GeekSquad set a four hour time window for at-home appointments and often can’t fix the issue. With Eden, customers simply explain the problem and specify the exact time and location to be helped.
$1 million run rate after 8 weeks.
35% gross margin.
There are 180,000 tech pros in the country looking for work.
Eden, a San Francisco company that began service last month, hopes to disrupt the Geek Squad — or at least replace the geeks with wizards. It aims to bring to tech support what Uber brought to the taxi industry, what Instacart brought to groceries and what TaskRabbit brought to odd jobs. The startup dispatches an on-demand independent contractor — a “tech wizard” — to homes and small businesses within a couple of hours, or at a specific time.
It’s not the first time tech help has made house calls. Geek Squad began in 1994, and now the service, owned by Best Buy, sends techies to any home in the country to repair devices for rates starting at $150. Locally, there’s also the Andreessen Horowitz-backed Enjoy, which lets people buy products, then sends someone to set them up at home. Their tech support and delivery is included in the cost of a device, and for $99 an hour, Enjoy will repair a product bought previously. Eden’s service, for computers, home entertainment and other devices, costs $69 an hour and is currently available only in the Bay Area. Eden workers also fix cracked smartphone screens.
So far, Eden — which is participating in Y Combinator, a Silicon Valley startup accelerator — has more than 20 on-demand workers, who are paid at least $30 an hour, said Joe Du Bey, a co-founder and the company’s chief executive officer.
The company offers on-demand tech pros that will come to you, based on a specified time and location, and solve your tech problems. This ranges from fixing a cracked iPhone screen, mounting a TV or setting up a home theater, installing IOT devices (such as the Nest or the August Lock), solving WiFi issues, troubleshooting computer issues, and much more.
Cofounder and CEO Joe Du Bey explained that there are an estimated 180,000 tech pros in the country who are either working out of a small tech shop or for the incumbent, Geek Squad.
Combining the larger SMB market with the consumer market, the industry is valued at about $30 billion annually.
But the process of accessing that market and having a good experience is a pain point for most consumers.
The company offers on-demand tech pros that will come to you, based on a specified time and location, and solve your tech problems. This ranges from fixing a cracked iPhone screen, mounting a TV or setting up a home theater, installing IOT devices (such as the Nest or the August Lock), solving WiFi issues, troubleshooting computer issues, and much more."
All Eden Tech Pros are verified experts who have gone through a 6-point background check, and if you're not happy with their service, you get your money back.
Eden is taking on Geek Squad, Best Buy's tech support service that makes over $2 billion of annual revenue, despite getting an average score of 2 stars out of 5 on Yelp! According to TechCrunch, "Combining the larger SMB market with the consumer market, the industry is valued at about $30 billion annually."
At the start of the event, there was a public showcase that allowed for teams to demonstrate and present their ventures. This was followed by a fireside chat with Greg Schott M.B.A ’91, the CEO of Mulesoft. Mulesoft is valued at nearly one billion dollars, and its mission is to connect the world’s applications, data and devices.
Schott offered advice to aspiring entrepreneurs.
“I think it’s important to fail fast,” Schott said. “You see it all the time when people have amazing ideas, they sound so great until they hit the market. There is a fine balancing act between failing fast and persevering. Knowing when to quit and move on is important part.”
The event was concluded by an awards ceremony, with prizes awarded to the top three teams from business ventures and social ventures, category prizes and crowd favorite prizes.
The prizes were sponsored by a variety of technological companies such as Microsoft, Accenture, Oracle, Samsung and Dropbox.
The first place prize of $25,000 to the best business venture was awarded to Audacy, whose goal is to provide continuous communication to commercial spacecraft operators as a service. The $15,000 runner-up award was given to Aperture, and the $10,000 second runner-up was given to Xstream.
The Orange Fund invests in up to 20 top startups in Y Combinator's summer 2015 batch.
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