1.
JAN 2013
LAUNCH DAY!

2.
ANDROID

3.
NEW YEARS 2014

4.
SALES
$0
$25,000
$50,000
$75,000
$100,000
2013 2014

5.
YOU CAN’T “FINISH" TECHNOLOGY

6.
$3 > $1

7.
ENTER CO-FOUNDER!
COO SCHONECK SHOAF

8.
“I DON’T WANT TO
LIVE IN NEW YORK
ANYMORE”

9.
$5 > $3

10.
ENTER CTO!
SAMI SAMHURI

11.
NEW YEARS 2016

12.
SALES
$0
$125,000
$250,000
$375,000
$500,000
2013 2014 2015 2016

13.
NEW YEARS
2017

14.
SALES
$0
$250,000
$500,000
$750,000
$1,000,000
2013 2014 2015 2016 2017

15.
NEW YEARS 2018

16.
SALES
$0
$500,000
$1,000,000
$1,500,000
$2,000,000
2013 2014 2015 2016 2017 2018

17.
FEBRUARY 1ST
2018
Something we did not expect...
we hit #1 again... why?

18.
“THERE IS NO SHORTAGE OF WAYS TO DOCUMENT OUR
LIVES ONLINE, BUT FEW INSPIRE PERSONAL REFLECTION”
SO VISCERALLY.”

19.
PARENTS

20.
FINALLY TIME FOR
VC FUNDING?

21.
“BUT YOU’RE PROFITABLE!”
“YOU’RE LIVING THE DREAM!”
“DON’T TAKE VC MONEY!”

22.
“95 percent of VCs
aren’t profitable,”

23.
“A VC fund needs a 3x
return to achieve a
“venture rate of return”
and be considered a good
investment”

24.
“Ninety-five percent of VCs aren’t
profitable,” he said. It took me a
while to understand what this
really means.
I’ll clarify: Ninety-five percent of
VCs aren’t actually returning
enough money to justify the risk,
fees and illiquidity their investors
(LPs) are taking on by investing in
their funds.

25.
THE VC BUSINESS MODEL…

26.
BUT LIKE…
WHAT IF WE DON’T WANT TO SELL
OUR COMPANY?
WHAT IF WE DON’T WANT TO IPO?
But like… we also like totally reserve the right to change our minds…
*
*
*

27.
SOME COMPANIES
NEED TIME,
NOT MONEY
>

28.
IF WE HAD BUILT A
SHOE COMPANY…

29.
A DESIRE TO BUILD
SOMETHING LONG-LASTING
AND MEANINGFUL.

30.
OUR 2018 GOALS
- Rebuild the app vertical
- Build Pro features
- Make the app Free

31.
MARC ANDREESSEN:
“ORIGINAL SIN OF THE INTERNET IS
HAVING ADVERTISING AS THE CORE
BUSINESS MODELAugust 31st, 2019 - A16Z Podcast

32.
“The subscription model is a booming field. In
recent years, this market has grown by more than
100% a year, increasing from $57 million in sales
in 2011 to $2.6 billion in 2016, according to one
expert.”

33.
ALIGNED INCENTIVES
What’s best for our customers, not advertisers.

34.
Charge
$4.99 on the App Store.
One of the top paid
photo/video apps.
OLD N O W
Free app w/ optional Pro
subscription tier at $29.99 a year.
SWITCHING TO A
SUBSCRIPTION MODEL

35.
SO HOW DID IT GO?

36.
57,000+ SUBSCRIBERS SO FAR

37.
PROJECTED 2019 SALES
$0
$550,000
$1,100,000
$1,650,000
$2,200,000
2013 2014 2015 2016 2017 2018 2019

38.
BUT NOW IT’S RECURRING REVENUE!!!!

39.
DOWNLOADS
PA I D V S F R E E

40.
NEW YEARS 2019

41.
NEW YEARS 2019

42.
NEW YEARS 2019

43.
ONE TIME REVENUE 👉 RECURRING REVENUE

44.
NOOOWWWW
DO WE RAISE VC!?

45.
OKAY TIME TO RAISE
For real this time.

46.
BUT… DOES IT HAVE TO
BE VENTURE CAPITAL?

47.
AVERAGE RETURN FOR AN
ANGEL INVESTOR

48.
ENTER INDIE.VC

49.
INDIE.VCIn a nutshell: a convertible note with a few key variables to be
negotiated between the investor and the founder
Investment amount
Equity Option
Repurchase Start Date
% of Gross revenue
shared to repurchase
shares
“a team can repurchase up to 90% of
the original equity option back at any
point prior to a qualified financing
through monthly revenue share
payments, a lump or some combination
of both until they reach a 3x cap.”

50.
If we start scaling quickly, and we decide to
raise another round… the investors convert
to equity just like any other convertible note.

51.
BEYOND INDIE.VC

52.
VC ALTERNATIVES
Lighter Capital
Podfund
RevUp
Riverside Acceleration Capital
Scaleworks
United Capital Source
Time Capital
Assembled Brands
Purpose Ventures
Village Capital
Sheeo
XXcelerate Fund
and more I'm sure!
Indie.vc
Earnest Capital
Tinyseed
Ustwo Adventure
ClearBanc
Alternative Capital
Bigfoot Capital
Corl
Decathlon Capital
Feenix Venture Partners
Founders First Capital Partners
Novel Growth Partners
GSD Capital

53.
Indie.vc
Earnest Capital
UsTwo
SureSwift
FUNDS A N G E L S
WE RAISED 1.25 MILLION!
Joel Gascoigne (Buffer)
Hunter Walk (Homebrew)
Aaron Rasmussen (Masterclass)
and many more…

54.
RETREATS!

55.
TEXT

56.
TEXT

57.
TEXT

58.
TEXT

59.
TEXT

60.
COUPLE OF THINGS WE WISHED WE KNEW
WHEN WE STARTED A REMOTE COMPANY

61.
useFYI.com

62.
useFYI.com

63.
useFYI.com

64.
useFYI.com

65.
ORDINARY MOMENTS
TIME
VALUE
IMAGE COURTESY OF SHUTTERSTOCK

66.
Isn't it funny how day by day
nothing changes, but when you
look back everything is different.
- C.S. Lewis