Go1 is an e-learning company that provides workplace training to over a million people globally through its aggregated online service. Founded in 2009 by Vu Tran and Andrew Barnes, Go1 pivoted its business model in 2015 to focus solely on workplace learning.
Pivoting the Business Model
In 2015, Go1 refocused its efforts on workplace learning and underwent the Y Combinator incubator program, known for nurturing successful startups like Dropbox and Airbnb. The company’s new business model involves operating a marketplace that connects training organizations with businesses.
Go1 acts as a major training provider without creating its own courses, similar to how Airbnb is a leading accommodation provider without managing hotel rooms. This model enables Go1 to offer a broad and high-quality range of corporate training options that traditional providers cannot match.
Early Stage Growth Strategies
To support its pivot, Go1 undertook several strategic actions:
- Selling Existing Businesses: Go1 sold several successful businesses in web design, special services, and tech, including the learning product Aduro. This allowed the company to concentrate fully on developing its new workplace learning product.
- Securing Investment: The company attracted significant financial backing from investors such as Steve Baxter, SEEK, Oxford University, and Y Combinator. This funding provided the resources necessary for scaling the business.
- Geographic Expansion: Go1 expanded its presence both domestically and internationally, establishing offices in Kuala Lumpur, Ho Chi Minh City, and Singapore. This geographic expansion helped the company reach a broader customer base.
These strategies, combined with a unique marketplace model, enabled Go1 to achieve rapid growth in its early stages.