 Thank you. So really quickly, Blue Blue is a language education platform which enables natural language acquisition for consumption of content at user's level that is interesting and relevant to that user with no grammar. Just putting it out there because this will be relevant to our fuckups and how it happened. And it's funny that I'm here today telling how we fuck up before I will go to the WSA jury tomorrow and all the attendees to try to show how good we are. So I hope that you just take the lessons that we learned and nothing else. So the first fuckup dates back to 2013, then Blue Blue was really just a very tiny initial beta version. We won our first startup event and we got featured in TechCrunch unexpectedly. And what do you think that happens to a company then they get featured on TechCrunch? Global traffic starts flowing. And as a tiny startup, are you prepared for that? Are your servers prepared for that? So guess what message you send to the world when they crash? Luckily this happened to us very early in the day and we managed to learn this lesson and knock the wood. Our servers haven't crashed ever since yet. The second fuckup and this is a major one actually is partly related to this unexpected but really desired recognition. So in Tech World we hear all the time that if you build a truly amazing product, it will take care of users by itself. Nobody tells them though that you have to make sure that there is a certain size of that initial user base or that even that initial size might not be sustainable forever. So with all this recognition in Baltic states across the startup scene, we started a lot of organic traffic flowing in. We got so proud of ourselves that we build this product that takes care of the users that we forgot to look at the statistics. Wrong. Never ever do that because the global, the organic traffic might not be sustainable to the extent that you can start focusing on completely different things. And actually regardless how breakthrough or innovative or revolutionary your product idea is, you have to remember that there are certain market fundamentals that potentially won't change. So let me give you an example. Then Uber has a revolutionized taxi industry. They didn't really change how much people need to get from point A to point B or then Airbnb revolutionized travel industry. They didn't really change how much people go on holidays. Whereas us we thought that if we build this amazing platform everybody will start learning languages and everybody will do that forever. So instead of trying to change the user behavior, your amazing brilliant idea, we learned that we actually had to focus on our product and let the user behavior follow rather than do it the other way around. And in addition to all of this, so teaching languages about any grammar and trying to get everybody learning languages, we also stood up against all the conventional language courses. Because we don't teach grammar and find ourselves different in that way, we said no to even terms like language learning. We said language acquisition is what we will go with. Also we said that we will not do any kind of courses. It's all different because that's what we are different. But in reality what happened was that when you speak to your customers or potential customers in a language that they don't understand you and you're trying to convince them to learn the languages so that everybody understands them, doesn't really work. So we wanted to be so unconventional that we found ourselves actually starting to make profits when we finally packed our learning method into a course and we started using language learning as synonymous to language acquisition. So again just be careful of the language that you're using in front of your customers. The all that idea of the product will take care of the users. We obviously left the marketing and use acquisition for itself. So we rolled up our sleeves, got the best tools out, hired two more developers, two more designers and got to work. Zero marketing people, zero UX people. And we started building and rebuilding and rebuilding Blu-Blu and rebuilding it again just to make it so awesome that everybody can use it and everybody is amazed by it. And I keep on mentioning marketing people because, and don't get me wrong, but from what I found is that developers think differently than the general audience that we are aiming our products to. So sometimes some solutions and some best practices are not necessarily best practices for the general audience. So unfortunately we spend 95% of our relatively small investment building and rebuilding Blu-Blu with no intervenience of marketing people who had have told that actually guys you're doing this wrong. There should be this button there or this button there. But at some point we started realizing that okay the organic growth is not happening as expected. So we started doing marketing. Claudio is the co-founder of Blu-Blu and he started doing what he knows best. He started doing PR in Lithuania, that's Lithuanian, which is if you're aiming for global recognition probably not the biggest market and not the best market to start with by doing PR. So what happened was Claudio spent a lot of effort and a lot of good energy trying to start getting recognized globally through Lithuania, which didn't really work out either. So guess what? Money did run out. Yes, the kind of the biggest fuck up if you see your balance sheet and you kind of notice that the income is not really covering your operational costs and there is no investor who's ready to throw in money into your business. Probably at some point this will happen and at that point we started looking in marketing and lucky for us Blu-Blu is truly amazing platform which managed to generate organic traffic and organic initial funding for our current marketing campaigns which are kind of changing you know taking what we've learned and applying it to grow in the future. And the last fuck up is B2B deal that we managed to secure the Barclays in Lithuania, amazing. However the platform wasn't really ready for what we promised and instead of going back to Barclays and asking them guys what would you like to see how can we do it better for you, we hid and continued to build Blu-Blu. So really quickly a lot of fuck up stories to learn and you can ask me any questions or maybe late at the conference I can expand on the details of each of them if you're interested. Any questions? Yes so basically the question was now that we switched from focusing almost hundred percent to product development budget-wise to marketing-wise what's a percentage of income right from the organic versus the paid, the users, the percentage of users coming from organic traffic versus the paid traffic. Very good question and currently we're seeing that our paid customers 70% of our organic traffic roughly. So yes basically with Barclays we went in because we knew some people and we sat down and we said you know we will give you this tool that will monitor your employees performance, how much they are learning, we will give you all these statistics and we will you know report to you and if your employees are not doing something with the platform we will go to them kind of try to encourage them and email them and talk to them and bring to the platform. Basically our statistics part of the thing because we do have statistics right now and it's working thanks God but it wasn't there yet. So essentially we were building it while you know the users were already using it and we had to report back. Plus the reports were not working the way Barclays wanted it to do to report so basically they wanted to see only their employees and we had like a general leaderboard where Barclays employees would sit within other users as well and the kind of you know getting people to motivating people to learn again we didn't really have resource to actually do it so yes these things Okay so the question was when we decided to focus on marketing the limited resources and to kind of focus globally rather than actually just in Lithuania so basically we looked at the data which is again very important looking at data can give you a lot of answers but because we had a lot of organic traffic flowing into blue blue for like over two years we just really looked at the countries that are driving most of the traffic and where the most of the paying customers are coming from and we started to focusing that little budget on those markets with yeah which is actually partly true because the biggest market for us is US however you know running campaigns in US are very expensive so instead we kind of went with Germany Italy and Spain which are the further markets in terms of active youth number of active and paying users Yes basically that's part of my tomorrow's presentation but I can give you a quick intro so basically it is it is proven by our own experience and also some professional research that grammar and language acquisition doesn't play a key role that it's enough to consume content that is registering and relevant to you that means that you know like if I ask you to now go to primary school and learn about I don't know flowers or other colors that might potentially not be interesting to you as an adult so instead we supply interesting content so on blue blue we create content we record we got needed people to record content which is interesting and which enables people to understand the context the content from the context so basically that's how and blue blue is a system where you click on as a user you click on words to indicate to the system what you know so blue blue learns what you know in order to provide following content at your level I can send it to you thank you