https://padlet.com/ostleo04/9m78txcynmhevgxw Introduction to the company Zocdoc en-us 2022-02-23 16:10:54 UTC 2022-02-27 16:09:56 UTC hello@padlet.com https://res.cloudinary.com/crunchbase-production/image/upload/v1455737750/sn4mdumxfbixt0j1tvvz.png ostleo04 https://padlet.com/ostleo04/9m78txcynmhevgxw/wish/2062900679 Oliver Kharraz, Cyrus Massoumi and Nick Ganju had an idea to create the booking process easier for booking doctor’s appointments than calling and remembering several appointment dates every year. Thus, they came together to make the idea of an online doctor-to-patient scheduling service.]]> 2022-02-23 16:12:23 UTC https://padlet.com/ostleo04/9m78txcynmhevgxw/wish/2062900679 ostleo04 https://padlet.com/ostleo04/9m78txcynmhevgxw/wish/2063934327 Zocdoc was doubted by TechCrunch’s audience and investors, ranking poorly at the competition.]]> 2022-02-24 05:17:14 UTC https://padlet.com/ostleo04/9m78txcynmhevgxw/wish/2063934327 ostleo04 https://padlet.com/ostleo04/9m78txcynmhevgxw/wish/2063948898 Marc Benioff, Jeff Bezos, and Vinod Khosla (all successful billionaires today) contributed to this fundraising effort into Zocdoc.]]> 2022-02-24 05:32:44 UTC https://padlet.com/ostleo04/9m78txcynmhevgxw/wish/2063948898 ostleo04 https://padlet.com/ostleo04/9m78txcynmhevgxw/wish/2063954455 Competed in a competition by Forbes called Boost your Business meant to showcase small upcoming businesses and ranked first place.]]> 2022-02-24 05:38:11 UTC https://padlet.com/ostleo04/9m78txcynmhevgxw/wish/2063954455 ostleo04 https://padlet.com/ostleo04/9m78txcynmhevgxw/wish/2063962614 Oliver took the role as CEO due to a disagreement about how Zocdoc should continue in the future.]]> 2022-02-24 05:46:20 UTC https://padlet.com/ostleo04/9m78txcynmhevgxw/wish/2063962614 ostleo04 https://padlet.com/ostleo04/9m78txcynmhevgxw/wish/2063970961 Zocdoc rolled out a smaller fee for doctors but implemented a fee for every new booking. There was a smaller barrier to entry for doctors to join the service with the lower fees.]]> 2022-02-24 05:55:17 UTC https://padlet.com/ostleo04/9m78txcynmhevgxw/wish/2063970961 ostleo04 https://padlet.com/ostleo04/9m78txcynmhevgxw/wish/2063973062 Zocdoc’s revenues and bookings plummeted initially.]]> 2022-02-24 05:57:03 UTC https://padlet.com/ostleo04/9m78txcynmhevgxw/wish/2063973062 ostleo04 https://padlet.com/ostleo04/9m78txcynmhevgxw/wish/2063975995 Zocdoc was able to add online bookings between doctors and patients due to the Covid lockdown very quickly. Because they were able to adapt to Covid so quickly, Zocdoc has become very successful while many other companies have struggled during Covid.]]> 2022-02-24 05:59:26 UTC https://padlet.com/ostleo04/9m78txcynmhevgxw/wish/2063975995 ostleo04 https://padlet.com/ostleo04/9m78txcynmhevgxw/wish/2066445159 Due to additional investments from firms like Goldman Sachs. Zocdoc achieved the phenomenal $1.8 billion valuation. Despite this accomplishment, though, Zocdoc was not quite making economic profits and was still reliant on investors.]]> 2022-02-25 14:31:41 UTC https://padlet.com/ostleo04/9m78txcynmhevgxw/wish/2066445159 ostleo04 https://padlet.com/ostleo04/9m78txcynmhevgxw/wish/2066463885 Today, Zocdoc successfully books over 6 million patients per day and can digitally schedule over 1,800 different types of medical procedures across 50 specialties. Most of the bookings are same day or next day, and Zocdoc has a great community of doctors booking through the platform. ]]> 2022-02-25 14:43:04 UTC https://padlet.com/ostleo04/9m78txcynmhevgxw/wish/2066463885 ostleo04 https://padlet.com/ostleo04/9m78txcynmhevgxw/wish/2066600430 CEO Oliver Kharraz and his team had to use creativity and entrepreneurship to transform Zocdoc during the Covid 19 pandemic from an online scheduling platform to an online meeting platform, where doctors can meet with patients virtually.]]> 2022-02-25 16:03:23 UTC https://padlet.com/ostleo04/9m78txcynmhevgxw/wish/2066600430 ostleo04 https://padlet.com/ostleo04/9m78txcynmhevgxw/wish/2066603297 Zocdoc started out in NYC, and was completely reliant on the NYC market. They found a group of doctors in the city, and started expanding into the various neighborhoods of the city. After expanding outward into other regions of the US, Zocdoc learned that different areas wanted different things from their platform.]]> 2022-02-25 16:05:10 UTC https://padlet.com/ostleo04/9m78txcynmhevgxw/wish/2066603297 ostleo04 https://padlet.com/ostleo04/9m78txcynmhevgxw/wish/2066606030 In its first 5-10 years, Zocdoc was very reliant upon capital from investors like Goldman Sachs, Marc Benioff, and Jeff Bezos. This capital allowed them to expand their business and change their business model into a fee based pricing rather than subscription based.]]> 2022-02-25 16:06:55 UTC https://padlet.com/ostleo04/9m78txcynmhevgxw/wish/2066606030 ostleo04 https://padlet.com/ostleo04/9m78txcynmhevgxw/wish/2066612524 When Socdoc started, it only had 3 employees (Oliver, Cyrus, and Nick) for a while. But now they have a team of 753 employees ensuring Zocdoc continues to grow and succeed in today’s ever changing market. Zocdoc especially needed a devoted team of employees to put in maximum effort to change Zocdoc in March 2020 to be a telehealth platform by May of 2020. Their creative and capable labor force pulled off Oliver’s business idea during the pandemic.]]> 2022-02-25 16:10:50 UTC https://padlet.com/ostleo04/9m78txcynmhevgxw/wish/2066612524