Preply CEO details bootstrapping the $1.2 billion learning platform

Kirill Bigai, cofounder and CEO of the $1.2 billion online education marketplace Preply, has detailed the early financial struggles involved in launching the company. Founded in 2012 in Kyiv, Ukraine, alongside cofounder Dmytro Voloshyn, the platform initially operated with minimal capital.

After early pre-seed funding was exhausted, the founders were forced to bootstrap the business. To manage living expenses, both Bigai and Voloshyn maintained side jobs while dedicating 60 hours a week to Preply. Bigai worked as an implementation consultant, while Voloshyn pursued a PhD and worked as a software developer. For the first year, the founders received no salary, eventually reaching a $100 monthly payment six months later before gradually increasing their income over two years.