great jones street pitch deck - feb 2017
TRANSCRIPT
NETFLIX SPOTIFY GREAT JONES STREET
150M American buyers of fiction.$11B TOTAL ANNUAL US REVENUE
25M Chinese read fiction exclusively on mobile.83M Youth readers in India.
QUICK READ
Amazon Singles
Wattpad
HIGH QUALITY
Competition for Mobile lifestyle fiction reader is pretty slim.
Amazon Unlimited
MOBILE-FRIENDLY READING
LOW QUALITY
NOVEL
Great Jones Street
2017Novels are called novels because they're new.
HUMANS LOVE SHORT FICTION
1450
The Bible War & Peace 1,001 Nights
The Bible = Anthology 1,001 Nights = Collection War & Peace = Serial
GJS
FINANCIAL PROJECTIONS
0
2000
4000
6000
8000
Y1 Y2 Y3 Y4
8
6
4
2
0
Revenues
Expenses
$ in Millions
USER RETENTION
Growth: 20% Mo/Mo. Retention 40%: New User after 1 Month. Retention 30%: New User after 2 Months.Retention 25%: New User after 3 Months.
V
1 out of 4 Users who download the app are using it 3 months later. Word of mouth, viral-only. No paid clicks, no store optimization. PR begins in January.
V
Us
Ken - 1 exit. M&A guy for J2 for 8 years.
Kelly - 2 exits. Sold to Adobe, match.com
2 founders, 4 FTE’s, 18 in our Slack
AMOUNT STILL OPEN
$500K
$250K
Raised
Open
Investment Opportunity$750K Pre-seed convertible note $2M Cap 20% discount 18-month maturation
Same as founders ($100K each)
USE OF FUNDS
Stories
Product
Marketing 38%
46%
16%
FUNDING THE FIRST 3 MILLION READERSTest the market, enhance the experience, scale the business.
EXPLORATIONReaders Readers Readers60,000 1M 3M
2015 2016 2017 2018 2019 2020 2021
Pre-seed Investment $750K / Marketing
Seed Round ~$1.5M Marketing & Product Dev
Series A ~$5M Scale
- Customer validation phase - Confirm CAC assumptions - Acquire fresh content directly - And via partnerships
- Book Clubs - Community conversations - Writer to Reader engagement
- Scale marketing - Test monetization - Hone the app experience - Bid for high profile content - Data mine for user preferences - Publisher channel for alt titles
