Description: Under the staggering debt of post-secondary loans, Rob Ebrahimi saw an opportunity to create a repayment recommendation tool that could help solve debt issues across America. In a sector where scammers and dishonest debt-management services can take advantage of uneducated consumers, ReadyForZero is empowering users to take control of their debt in a simple and transparent way.
Date: April 16 2012
Rod Ebrahimi watched his girlfriend finish graduate school with a hefty amount of debt. The two created a spreadsheet to help plot how to tackle repaying her student loans and the other debts they had accrued. As they worked, it occurred to Ebrahimi that this was a widespread problem that technology could solve–the perfect opportunity for a Silicon Valley startup.
His own personal finance hurdle was the catalyst for ReadyForZero.com, a San Francisco-based company that helps consumers manage debt. At the time of his light-bulb moment, Ebrahimi had been accepted to Y Combinator, a Mountain View, Calif., incubator that helped launch social news site reddit and document-sharing service Scribd. Ebrahimi and Ignacio Thayer, a former senior software engineer at Google, decided to ditch their idea for a news-aggregating service and instead use their time at the incubator to develop the debt-relief concept. Read Rest of Story
Questions for discussion:
1. How does this less intrusive technology gain the trust of its users?
2. What affect do you think trust has on user engagement?