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1
Global Employment Marketplace – introduction & update 16 August 2016
Search Party Group Ltd (ACN: 139 977 772)
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2 Search Party Business Overview – August 2016
Disclaimer
This Presentation is not a prospectus nor an offer for securities in any jurisdiction nor a securities recommendation. The information in this Presentation is an overview and does not contain all information necessary for investment decisions. In making investment decisions in connection with any acquisition of securities, investors should rely on their own examination of the assets and consult their own legal, business and/or financial advisors. The information contained in this presentationhas been prepared in good faith by Search Party Group Ltd, however no representation or warranty expressed or implied is made as to the accuracy, correctness, completeness or adequacy of any statements, estimates, opinions or other information contained in the Presentation.
To the maximum extent permitted by law, Search Party Group Ltd, its directors, employees and agents disclaim all or any loss or damage which may be suffered by any person through the use or reliance on anything contained in or omitted in this Presentation. Certain information in this Presentation refers to the intentions of Search Party Group Ltd, but these are not intended to be forecasts, forward looking statements or statements about future matters for the purpose of the Corporations Act or any other applicable law. The occurrence of events in the future are subject to risks, uncertainties and other factorsthat may cause Search Party Group Ltd’s actual results, performance or achievements to differ from those referred to in this Presentation. Accordingly, Search Party Group Ltd, its directors, officers, employees and agents do not give any assurance orguarantee that the occurrence of the events referred to in the Presentation will actually occur as contemplated.F
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Business Introduction
Search Party is a global recruitment marketplace designed to make hiring great people quick, easy, and affordable for businesses of all sizes.
Search Party connects employers, recruiters and their candidates in a single online platform.
Hiring through Search Party is significantly faster, easier, and cheaper than traditional recruitment methods.
Search Party provides cutting edge technology and a new business model for recruiters to evolve and grow profitably using their candidate network. We earn 20% of the recruitment fee when someone gets hired.
The purpose of this presentation is to outline what we do, how we do it, and how the business has performed in the last 6 months.
Search Party Business Overview – August 2016
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Major shareholders (ordinary shares)
Substantial stakeholders
AIMLI Pty Ltd (Associated with Josh Rogers) 18%
TFLT Pty Ltd (Associated with Chairman) 12%
Ben Hutt (CEO) 6%
Corporate Snapshot
$0.10 at prospectus price
387 m
A$ 38.7m
A$ 5.9m (+$1.3m R&D expected)
A$ 0.5m (indicative value)
Share price
# ordinary shares
Market cap
Cash as at 30 June 2016
Surplus investments
SP1
17 August 2016
30 June 2016
ASX code
Expected Listing date
Year end
Top 20 shareholders at listing 67%
Directors, management 25%
Search Party Business Overview – August 2016
Ordinary and fully paid shares 387m
Options $1.08 exercise price, July 2022 91,918
Options $0.25 exercise price, Dec 2016 6,500,000
Options $0.15 exercise price, Aug 2018 30,000,000
ESOP Options $0.10 exercise price 4,994,195
- vest 1/3 Aug ‘17, then monthly for two years
ESOP Performance rights, nil exercise, 1/6 vesting for 15,313,088
- Share price triggers @ $0.333, $0.408 and $0.666
- Mthly net revenue @ $0.5m, $1.0m and $1.5m
Capital structure
Locations and staffSydney 25 Head Office, Product, Engineering
Melbourne 4 Sales
Perth 1 NED
United Kingdom 8 Sales
Canada 5 Sales
USA 1 CCO
India 3 QA
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Ben HuttCEO & Managing Director
• Execution Focused International management consultant with 15 years global experience including 5 years at Macquarie Group
Jason ShepherdCFO
• Finance practitioner with 22 years in small cap tech, M&A, corporate/project finance, structured finance and capital markets
Leadership Team
Search Party Business Overview
Magda WalczakCCO
• ROI-focused tech marketer with 14 years global experience in both B2B and B2C including Google, PayPal and Atlassian
Stuart GatenbyCo-Founder & CTO
• Over 15 years web and start up experience in highly complex technical environments
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Trevor LoewensohnChairman
• Managing Director Alceon• Previously UBS, JP Morgan
Non Executive Directors
Search Party Business Overview
Paul BirdDirector
• Founder & CEO EP2 Payments• Founder & Director Homestar Finance• Previously PBL Media
Charles ThomasDirector
• Chairman and/or Non-exec director for several listed Australian businesses (SOC, AVZ)F
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Global recruitment currently $300bn*
Recruitment Industry$300bn*
Potential $1 trillion+
Only $9bn* of industry value online (only 3%!)
Very small proportion of Recruitment is transacted online.
Massive opportunity to grow the industry by reducing the cost and improving the customer outcomes for everyone (what marketplaces do!)
Staffing Industry AnalystsForbes
***
UK, Australia & Canada $100bn**
McKinsey, The social economy: Unlocking value & productivity through social technologies (2015)
***
Search Party Business Overview – August 2016
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Our current focus is mid-level white collar roles
Search Party works across all role types.
Our focus is the largest portion of the workforce globally.
Currently mostly filled via job boards (slow and painful).
With Recruiter fees at approx. 10% of base salary we are getting real traction.
Search Party Business Overview – August 2016
Skilled/white collar White collarmanagement
Executive(head hunting)
Unskilled labour
Search Party
Focus Industries include: IT & media, sales & marketing, accountancy & finance, and
healthcare.
$ $$$
FOCUS In Scope
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Hiring happens quickly and easily
Shortlist
Employers shortlist recruiter represented candidates online and set recruitment fees
Screen
Candidates arepre-screened and suggested by connected recruiters
Interview
Employers interview and hire the best
Pay
Search Party manages all payments and earns 20% of the recruitment fee
Search Party Business Overview – August 2016
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Candidates
Employers
RecruitersCandidatesRecruitersEmployers
254,507153
480
Canada
CandidatesRecruitersEmployers
1,007,7273191511
Australia
CandidatesRecruitersEmployers
6,944,916461
2,237
UK
Planned launch Q2/3 FY17
US
Search Party Business Overview – August 2016
More than 16 million CVs = 8.5m unique professional candidates globallyF
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• JobAdvisor is a platform that helps employers tell their story in an open, transparent and honest way.
• Collecting feedback from employees creates ‘social proof’ which employers leverage to improve their ability to hire through all recruitment channels.
• Will be launched in the UK Aug/Sep ‘16 with thousands of UK businesses.
Search Party Business Overview – August 2016 11
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Job SeekerGet recruiter representation & find a new job
RecruiterSource candidates for clients
Job SeekerLearn about companies they want to work for
EmployerShowcase their culture to attract the right people
EmployerUse multiple recruiters to fill roles with best people
RecruiterFree, highly qualified business opportunities
Job Seekers
Employers Recruiters
Search Party Business Overview – August 2016
Search Party ecosystem transforms hiring Employers, Recruiters & Job Seekers F
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Overview against market KPIs
Metric Q1 CY‘16 Q2 CY’16 Qtr on QtrGrowth
CQGR* Current Focus
New employer users 1,307 1,315 - +31% Low
New recruiter companies 216 187 -13% +24% Low
CVs Updated / Uploaded n/a 1m n/a n/a Low
Total unique roles with a fee agreed 564 836 +48% +45% High
Value of unique roles with fee agreed $2.05m $2.53m +23% +29% High
Interviews confirmed 536 664 +24% +47% High
Placements confirmed 73 101 +38% +50% High
Gross Payment Volume (recruitment fees billed)** $215k $314k +45% +37% High
Efficiency – placements per 100 “shortlists” 1.05 2.87 +173% n/a High
*CQGR = compound quarterly growth rate since Q4 2014**Search Party earns ~20% of this GPV as transaction fee revenue
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Core drivers of growth next 12 months
Product Innovation
• Platform enhancements & payment automation
• Deep learning, chat-bots, natural language search & other R&D activities
• Mobile
• Candidate build-out
JobAdvisor
• Launch UK August 2016
• Expand seeding strategy to include other geographies early 2017
Plug-ins
• Develop key partners in related verticals
• Implement API Marketplace framework
New Geographies
• Develop capital and operational partners to support expansion to USA, HK, Singapore, Ireland
Our focus is on growing volume and efficiency, which will be achieved by a portfolio of activities
Search Party Business Overview – August 2016
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Detailed Metrics
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Employer UsersQuarterly Sign-ups
• Marketing focus on quality, not quantity, demand gen spend flat and constrained.
• 1,315 Employer User Signups in Q2-2016
• 31% Compound Quarterly Growth Rate since Q4-2014
• 5,960 Employer Users from 4,758 Employer Companies in total since Q4-2014
Quarterly Update— 30 June 2016
0
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Q4-2014 Q1-2015 Q2-2015 Q3-2015 Q4-2015 Q1-2016 Q2-2016
#ofSignu
ps
UK Australia Canada Other Cumulative
Marketingtacticseffective,asqualityofsignupandconversiontorevenuemuchhigherinmostrecentquarterthanprevious
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Recruitment CompaniesQuarterly sign-ups
• No marketing to Recruiters
• 187 Recruiter Company Signups in Q2-2016
• 24% Compound Quarterly Growth Rate since Q4-2014
• 1279 Recruiter Users from 788 Recruiter Companies in total since Q4-2014 0
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Q4-2014 Q1-2015 Q2-2015 Q3-2015 Q4-2015 Q1-2016 Q2-2016
#ofSignu
ps
UK Australia Canada Other Cumulative
Quarterly Update— 30 June 2016
Weknowwhatwedoisfundamentallyattractivetorecruiters.Focusonincreasingengagementandactivityofcurrentrecruiters,notnewones.
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Roles with Agreed FeesQuarterly
• 836 Roles With Agreed Fees between recruiters and employers in Q2-2016
• 45% Compound Quarterly Growth Rate since Q4-2014
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Q4-2014 Q1-2015 Q2-2015 Q3-2015 Q4-2015 Q1-2016 Q2-2016
#ofRoles
UK Australia Canada Other Cumulative
Quarterly Update— 30 June 2016
Significantincreaseinquantityandvalueofrolesfromnewandrepeatcustomers.Demonstratesemployerandrecruiterengagement
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Value of unique fees agreed (Rec <> Emp)Quarterly
• Employers offering fees recruiters are happy to work
• $2,525,502 in unique fees agreed between employers and recruiters in Q2-2016 vs. $2,049,432 in Q1-2016 (23% growth)
• If 100% of these roles placed, our Gross Payment Volume would be $2.5m for the quarter.
• 29% Compound Quarterly Growth Rate since Q4-2014
Quarterly Update— 30 June 2016
~3XimprovementineffectivenessfromJan– Jun‘16showswe’reontherighttracktoconvertingrevenueopportunity
$-
$1,000,000
$2,000,000
$3,000,000
$4,000,000
$5,000,000
$6,000,000
$7,000,000
$8,000,000
$9,000,000
$10,000,000
$0
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
Q4-2014 Q1-2015 Q2-2015 Q3-2015 Q4-2015 Q1-2016 Q2-2016
UKFeesAccepted(AUD) AustralianFeesAccepted(AUD)
CanadianFeesAccepted(AUD) Cumulative
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Interviews ConfirmedQuarterly
• Interviews lead to hires and show good candidates being presented
• 664 Interviews Confirmed in Q2-2016 vs. 536 Interviews Confirmed in Q1-2016 (24% growth)
• 47% Compound Quarterly Growth Rate since Q4-2014
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Q4-2014 Q1-2015 Q2-2015 Q3-2015 Q4-2015 Q1-2016 Q2-2016
#ofIn
terviews
InterviewsConfirmedUK Australia Canada Other Cumulative
Quarterly Update— 30 June 2016
Conversionfrominterviewtoplacement1in4(andimproving)For
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PlacementsQuarterly
• 101 Placements in Q2-2016 vs. 73 Placements in Q1-2016 (38% growth)
• 50% Compound Quarterly Growth Rate since Q4-2014
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Q4-2014 Q1-2015 Q2-2015 Q3-2015 Q4-2015 Q1-2016 Q2-2016
#ofPlacements
UK Australia Canada Other Cumulative
Quarterly Update— 30 June 2016
Theengineisworking,customersengaged,nowit’saboutvolumeandvalueofthroughput
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Gross Payment Volume (GPV)Quarterly (AUD)
• This is the value of payments invoiced. We earn 20% of this as our fee.
• $314,419 GPV in Q2-2016 vs. $214,996 GPV in Q1-2016 (46% growth)
• 37% Compound Quarterly Growth Rate since Q3-2015
• Q1 dip due to initiatives focused on low touch transactional roles $-
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
Q3-2015 Q4-2015 Q1-2016 Q2-2016
UK Australia Canada
Quarterly Update— 30 June 2016
~AUD$1minrecruitmentfeesprocessed,growingsignificantlywithfocusonvolumeandvalueofroles
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