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Why Handshake's Business Model is so successful?

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Handshake’s Company Overview


Handshake is a leading platform in the field of education technology (EdTech), offering a comprehensive solution for students, universities, and employers to connect, discover opportunities, and build meaningful careers. Founded in [insert year], Handshake has revolutionized how students explore job and internship opportunities, providing a user-friendly interface that matches them with relevant employers and organizations. Handshake is a commerce marketplace that connects students and young alumni from the nation's top universities with employers. Handshake is the most significant early talent recruiting platform connecting employers, talent, and colleges in the United States. Handshake was founded in 2014 by three Michigan Technological University students - Garrett Lord, Ben Christensen, and Scott Ringwelski - who wanted to improve the outdated recruiting process at their university. The Handshake team is based in San Francisco and is backed by investors, including Kleiner Perkins Caufield & Byers, Lightspeed Venture Partners, and True Ventures. Business Model: Handshake operates on a multi-faceted business model tailored to the needs of students, universities, and employers within the EdTech ecosystem: Student Engagement: Handshake's platform prioritizes student engagement by offering personalized job recommendations, career resources, and networking opportunities. Students can create profiles highlighting their skills, experiences, and career interests, allowing them to connect with employers and explore diverse career paths. University Partnerships: Handshake partners with educational institutions, including colleges and universities, to provide students and alumni access to its platform. These partnerships allow universities to access valuable insights and data analytics to enhance career services, student outcomes, and alumni engagement. Employer Services: Handshake offers a suite of services for employers, including recruitment tools, employer branding opportunities, and access to a diverse talent pool. Employers can leverage Handshake's platform to connect with qualified candidates, streamline recruitment, and build relationships with top universities and colleges. Career Fairs and Events: Handshake facilitates virtual career fairs, networking events, and workshops to bridge the gap between students and employers. These events provide opportunities for students to interact with recruiters, learn about industry trends, and secure internships or full-time positions. Data Analytics and Insights: Handshake leverages data analytics to give universities and employers valuable insights into student engagement, recruitment trends, and job market dynamics. These insights help stakeholders make informed decisions, optimize recruitment strategies, and improve student outcomes. Revenue Model: Handshake generates revenue through various channels within its EdTech platform: Subscription Fees: Handshake charges subscription fees to universities and colleges to access its platform and services. These fees are based on the size of the institution and the level of customization and support required. Recruitment Services: Employers pay fees to access Handshake's recruitment tools, including job postings, virtual career fairs, and targeted outreach to students and alumni. These fees may vary based on the scope and duration of the recruitment campaign. Premium Features: Handshake offers premium features and add-on services for universities and employers seeking enhanced functionality and customization. These features may include advanced analytics, branding opportunities, and priority support, available for an additional fee. Advertising and Sponsorship: Handshake generates revenue through advertising and sponsorship opportunities, allowing employers to promote their brands and job opportunities to students and alumni. Universities may also partner with Handshake to sponsor events and initiatives targeted at student engagement. Data Licensing: Handshake may license anonymized and aggregated data to third-party organizations, including research institutions and industry associations, for insights into student career trends, recruitment patterns, and labor market dynamics. Handshake's business model and revenue streams are designed to create value for students, universities, and employers alike, fostering meaningful connections and opportunities within the EdTech ecosystem. By leveraging technology and data-driven insights, Handshake continues to innovate and empower the next generation of talent.

https://joinhandshake.com/

Country: California

Foundations date: 2014

Type: Decentralized

Sector: Consumer Services

Categories: Education


Handshake’s Customer Needs


Social impact:

Life changing: affiliation/belonging

Emotional: rewards me, fun/entertainment, attractiveness

Functional: saves time, simplifies, reduces risk, organizes, reduces effort, avoids hassles, reduces cost, quality, variety, sensory appeal, informs


Handshake’s Related Competitors



Handshake’s Business Operations


Data as a Service (DaaS):

Data as a Service (DaaS) is a relative of Software as a Service in computing (SaaS). As with other members of the as a service (aaS) family, DaaS is based on the idea that the product (in this instance, data) may be delivered to the user on-demand independent of the provider's geographic or organizational isolation from the customer. Additionally, with the advent[when?] of service-oriented architecture (SOA), the platform on which the data sits has become unimportant. This progression paved the way for the relatively recent new idea of DaaS to arise.

Digital:

A digital strategy is a strategic management and a business reaction or solution to a digital issue, which is often best handled as part of a broader company plan. A digital strategy is frequently defined by the application of new technologies to existing business activities and a focus on enabling new digital skills for their company (such as those formed by the Information Age and frequently as a result of advances in digital technologies such as computers, data, telecommunication services, and the World wide web, to name a few).

Ecosystem:

A business ecosystem is a collection of related entities ? suppliers, distributors, customers, rivals, and government agencies ? collaborating and providing a particular product or service. The concept is that each entity in the ecosystem influences and is impacted by the others, resulting in an ever-changing connection. Therefore, each entity must be adaptive and flexible to live, much like a biological ecosystem. These connections are often backed by a shared technical platform and are based on the flow of information, resources, and artifacts in the software ecosystem.

Featured listings:

A highlighted listing is more important and noticeable than a regular listing, providing maximum exposure for your workplace to consumers searching in your region. In addition, customers are attracted to these premium listings because they include more pictures of your home ? and its excellent location.

Lead web:

Online lead generation is the technique of gathering or gaining a user's information ? often in return for an item, service, or information ? and then reselling that information to businesses interested in advertising to or selling to those gathering leads.

Licensing:

A formal agreement in which the owner of the copyright, know-how, patent, service mark, trademark, or other intellectual property grants a licensee the right to use, manufacture, and sell copies of the original. These agreements often restrict the licensee's scope or area of operation, define whether the license is exclusive or non-exclusive, and stipulate whether the licensee will pay royalties or another kind of compensation in return. While licensing agreements are often used to commercialize the technology, franchisees also utilize them to encourage the sale of products and services.

Network builders:

This pattern is used to connecting individuals. It offers essential services for free but charges for extra services. The network effect is a paradox that occurs when more people utilize a product or service, the more valuable it becomes.

New job trends:

The workforce as a whole is gravitating toward remote, dispersed teams comprised of freelancers and independent contractors. Workplace customization extends beyond IT and gadgets; workflow, behavior, and expectations are modeled after real-world applications. These are novel methods of job search.

On-demand economy:

The on-demand economy is described as economic activity generated by digital marketplaces that meet customer demand for products and services via quick access and accessible supply. The supply chain is managed via a highly efficient, intuitive digital mesh built on top of current infrastructure networks. The on-demand economy is transforming commercial behavior in cities worldwide. The number of businesses, the categories covered, and the industry's growth rate are all increasing. Businesses in this new economy are the culmination of years of technological progress and customer behavior change.

Open-source:

Compared to more centralized development methods, such as those usually employed by commercial software firms, the open-source model is more decentralized. Scientists see the open-source approach as an example of collaborative openness. Peer production is a fundamental concept of open-source software development, with deliverables such as source code, blueprints, and documentation made freely accessible to the public. The open-source software movement started as a reaction to the constraints imposed by proprietary programming. Since then, its ideas have extended to other areas, resulting in what is known as open cooperation. Typically, money is generated via services that complement the product, such as advising and maintenance.

Self-service:

A retail business model in which consumers self-serve the goods they want to buy. Self-service business concepts include self-service food buffets, self-service petrol stations, and self-service markets. Self-service is available through phone, online, and email to automate customer support interactions. Self-service Software and self-service applications (for example, online banking apps, shopping portals, and self-service check-in at airports) are becoming more prevalent.

Social stakeholder:

Social responsibility will only be accurate if many managers embrace moral leadership rather than immoral leadership, organizational management, and business ethics that engage morals and values in corporate governance. In a nutshell, it addresses the concept of who or what really matters.

Subscription:

Subscription business models are built on the concept of providing a product or service in exchange for recurring subscription income on a monthly or annual basis. As a result, they place a higher premium on client retention than on customer acquisition. Subscription business models, in essence, concentrate on revenue generation in such a manner that a single client makes repeated payments for extended access to a product or service. Cable television, internet providers, software suppliers, websites (e.g., blogs), business solutions providers, and financial services companies utilize this approach, as do conventional newspapers, periodicals, and academic publications.

Two-sided market:

Two-sided marketplaces, also called two-sided networks, are commercial platforms featuring two different user groups that mutually profit from the web. A multi-sided platform is an organization that generates value mainly via the facilitation of direct contacts between two (or more) distinct kinds of connected consumers (MSP). A two-sided market enables interactions between many interdependent consumer groups. The platform's value grows as more groups or individual members of each group use it. For example, eBay is a marketplace that links buyers and sellers. Google connects advertising and searchers. Social media platforms such as Twitter and Facebook are also bidirectional, linking consumers and marketers.

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