We spoke with Peter Goldstein, the CEO and Co-Founder of Lingoo, a peer-to-peer homestay platform connecting language learners, vetted hosts and teachers. Lingoo is currently crowdfunding to raise capital to expand their language learning platform.
What Is Your Business Model?
Learning another language has never been more important. And language learning by immersion is proven to be more authentic and effective than standard classroom methods.
With increasing proportions of businesses operating in global markets and multilingual candidates having huge advantages, young people need a second language to help get the careers they want.
Yet secondary schools have all but abandoned language trips due to security issues, admin bureaucracy and teacher availability. And the product offer from language schools is outdated and an expensive route for many language students.
As part of the drive towards the sharing economy, which is forecast to be worth £140 billion by 2025, we offer an alternative.
We are a bit like a cross between Airbnb and a dating site, but for language holidays!
Why Are You Different?
Unlike expensive and non personalised standard language school programs, Lingoo provides a flexible and inexpensive way to experience a language and cultural immersion holiday.
This is truly what sets us apart from all other language learning services. Our language learners have complete control over who they stay with, where, when and for how long.
Lingoo members match themselves and have the opportunity to get to know each other before they commit to a language exchange or homestay. Meaning our language learners can find an experience that works for their needs, and their budget.
And Plans For Growth?
Currently Lingoo has over 13,500 users, and since 2016 over 20,000 nights of language learning holidays have been booked through our platform, totalling 1M€ in transactions.
Lingoo is an an established brand and working business and our success to date has been reached with zero external investment. However it has been mainly limited to Western Europe.
There is a growing demand for language learning identified across the globe, particularly in China, India and the Americas. But in order reach these target markets we need to improve our web platform and widen our marketing campaigns.
The language market is ripe for change and we are in prime position to affect this.
By joining our crowdfunding campaign you can share in our success and invest in our young peoples’ futures.