Lessons Learned from Listening to Our Investees

What’s going well

  • Omidyar Network had a net promoter score (NPS) of 60.6[1], higher than the social investor benchmark of 58.5[2]. Overall, 70% of respondents identified as promoters who would actively recommend Omidyar Network. Nonprofits were stronger promoters with an NPS of 65 than for-profits with a NPS of 43.
  • Investees appreciated the high quality of service they receive from Omidyar Network staff. Respondents appreciated Omidyar Network’s quality of service, and almost 80% of respondents reported that they had received support in addition to funding such as informal advice, human capital support, and board service. More than half of respondents found the level of interaction by our staff to be just right, and most found these interactions to be useful.
  • “Trust” and “Respect” were seen as the hallmarks of the relationships between Omidyar Network and our investees. Omidyar Network is perceived as having high trust relationships with our investees. This trust was characterized by frank discussions and open dialogue, which was seen as being responsive to investees’ concerns.

What could be better

  • Respondents found the time required to close investments to be the most challenging aspect of the investment process. A number of respondents cited reported that a lack of clarity and communication on the decision-making and contracting processes contributed to this issue.
  • Our reporting requirements were not seen as useful in managing investees’ work. Fifty-five percent of respondents rated our reporting requirements as not helpful in managing their own work. We acknowledge that there is an opportunity for us to better align our reporting requirements with our investees’ priorities.
  • Lack of feedback and support for learning. We heard that a number of investees had not received any feedback from our staff members. However, for those to whom we did provide feedback, the majority (68%) found it useful and “just right.” Investees also said that they would like more support with learning and with adapting their strategies and actions based on their learnings.
  1. Provide better communication: Investees asked us to improve our communication in a variety of areas. For example, they asked that we work to set expectations about timelines and requirements for funding, future funding decisions, and better explanations of our internal re-organizations.
  2. Free up staff to allow deeper engagement: Engaging with Omidyar Network staff is valued, but we heard from many that staff were “overworked” and did not always have sufficient time to devote to their needs.
  3. Provide more networking opportunities: The networking support we provide to investees is viewed as helpful, and several interviewees said they would like more opportunities to network with other entrepreneurs in the field (including connections to other portfolio companies). Additionally, many would like us to make introductions to other potential funders and promote their work to other funders.
  4. Take action on the survey: A third of respondents were unsure or thought it was unlikely that we would make improvements based on the survey and urged us to respond to feedback. We hope that our actions will demonstrate otherwise over time.

Feedback as an opportunity to learn, reflect, and improve

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Omidyar Network is a social change venture that reimagines critical systems, and the ideas that govern them, to build more inclusive and equitable societies.

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Omidyar Network

Omidyar Network

Omidyar Network is a social change venture that reimagines critical systems, and the ideas that govern them, to build more inclusive and equitable societies.

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