We empower black professionals around the world to connect with each other and global corporations.
Business overview
| Location | London, United Kingdom |
|---|---|
| Social media | |
| Website | byp-network.com |
| Sectors | Content & Information Mixed Digital/Non-Digital Mixed B2B/B2C |
| Company number | 10440856 |
| Incorporation date | 21 Oct 2016 |
Business highlights
- Over 40k members across 65 countries, and 60+ corporate partners
- Featured in Forbes, Business Insider, BBC, Roc Nation, Guardian
- £300k + revenue since launch in a TAM of £200bn recruitment
- Accepted on to the London Stock Exchange Elite Program
Idea
Introduction
We were created in Autumn 2016 after a culmination of black lives matter movement and Kike’s (founder of BYP Network) personal experiences. Alongside this, the UK was struggling with the highest rates of knife crime epidemic, the lack of black people in companies let alone senior positions and an inability to find positive role models outside of the entertainment industry.
From this BYP Network was created to ‘change the black narrative’ by bringing the black professional global community together to solve our own problems through economic empowerment and connectivity.
Monetisation strategy
Our revenue model focuses predominantly on corporate partnerships and premium memberships.
Corporations:
We charge a monthly fee of £1k - £5k for 6 months or 12 months contracts. These packages consist of pick and mix from job postings, webinars, content, and candidate shortlisting.
The monthly subscription allows us to focus on monthly recurring revenue, whereas our previous model generated £300k+ but in one-off payments. We have signed over five companies on this recent model including BNY Mellon, Morgan Stanley, Cisco, and Checkout.
Memberships:
We currently operate a freemium model on our app. This means users can download the app for free, join groups, browse & add events, and post their business.
We will be offering a £5 premium member and £10 premium business member fee that allows users to 1. Browse other users 2. Amplify their posts and 3. Post opportunities. We will also look to add extra benefits and play around with pricing.
We estimate that roughly 2% of free members will be paid (based on our own experiments). In the future, we will also include full recruitment services and advertising.