Entrepreneurs’ ventures is an early-stage enterprise capital firm in partnership with Entrepreneur Media that goals to support passionate and revolutionary founders from day one. In this series, we profile the amazing entrepreneurs Entrepreneur Ventures works with to share their insights on building and growing a successful business.
Michael Peled is the co-founder and CEO of the company groinan immersive English learning platform that teaches language through music. “People choose songs they like and then select words from the lyrics for instant translation and expand their vocabulary faster and easier,” Peled explained in a phone interview with Entrepreneur.
SingIt is currently used by 500,000 students in 12 countries and its annual recurring revenue recently exceeded $1 million. “With our new consumer channels specifically focused on the U.S. Latino population and over 5,000 paying customers, we are poised to disrupt the market,” says Peled. Read on to learn more about the revolutionary teaching tool and the driving force behind the 23-year-old technology founder’s passion for learning.
Give us a quotation for your organization’s elevator.
SingIt is transforming English education by integrating AI-powered technology with a library of over 5 million songs. We provide personalized learning experiences tailored to each student’s needs, turning the most addictive apps into powerful language mastery tools.
What gave you the idea?
My father learned English in the Seventies by listening to songs by John Lennon and Bob Dylan. This made me realize that music may be an amazing language learning tool, especially for dyslexic people like me. I needed to work eight times harder in school to realize the same results as my peers. This determination, combined with having entrepreneurial parents who at all times believed in me, pushed me forward. I strongly imagine that having just one person to motivate and support you’ll be able to make all the difference.
How did you begin?
I developed SingIt as my final project in the gifted program at the Weizmann Institute. It has grown into an app now used by 500,000 students around the world and has been approved by Ministries of Education around the world.
What training did you have before developing Singit?
At the age of 17, I used to be mining Ethereum on the lab computers at my school, but that is not where my business success got here from. My passion for technology and curiosity about making a living began when I used to be 9 years old. Although I’m not materialistic and consider myself quite frugal, I have at all times been drawn to entrepreneurship. At the age of 16, I used to be earning over 100,000. dollars a 12 months by photographing events where others were partying. Growing up in a family of investment bankers also opened the door to key relationships, including a mentor who introduced me to the world of underwriting.
Ultimately, my success got here from being continuously curious, continuously making the most of opportunities, and having a strong desire to learn from others. Since then, I have focused on making a lasting impact, not only financial gain. SingIt’s mission is to democratize education and make learning accessible to everyone.
What do you hope to realize with SingIt?
I would like SingIt to turn out to be a cornerstone of education, enabling hundreds of thousands of youngsters to learn English in a fun, engaging and accessible way. My goal is for English to turn out to be the second language around the world. In many countries, fluency in English can increase wages as much as fourfold and open up recent opportunities, especially in poorer regions, connecting them to the global economy.
What is your best advice for entrepreneurs encouraging investors?
Durability is the key. Be relentless in pursuing your vision and make sure your product solves a real problem. For example, when acquiring music licenses for SingIt, I didn’t stop until I had convinced the biggest players in the industry.
Do you have a personal mantra that helps you stay motivated?
Get able to beat everyone in the room, including your hardest competitors. True success requires constant effort, determination and unwavering perseverance. Every obstacle is an opportunity to rise above it. Remember: “If you want it, it’s not a dream.” Lead with passion, push your limits and show the world what is possible if you do not surrender.