building digital success: i need a ba
TRANSCRIPT
500m
5m
5m x 2 games at £1.20 each
=£13m
500m
1.25m players
£1.3m funding
5-star reviews Facebook
Recommended
“Future Creator”
The Journey: Charities on social
Over 600,000 people …!
The Journey: Music on social
The Journey: Music on social
The Journey: Music on social
The Journey: Music on social
The Journey: Music on social
The Journey: Music on mobile
200,000 Facebook fans
x 1 post =
1,000 installs
x 0.89p (ARPU) =
£890
The Journey: Music on mobile
29m Facebook fans
x 1 post =
1.45m installs
x 0.89p (ARPU) =
£1.29m
The Journey: Music on mobile & social & work for hire
The Journey: Music on mobile & social & work for hire
The final 8 months
• Staff sacrifices• Support from creditors• IBC helping with survival• Personal impact• Investor support …
• The final round …
The Journey: The big launch
The Journey: Music on mobile & social & work for hire
29m Facebook fans
x 1 post =
1.45m installs
x 0.89p (ARPU) =
£1.29m
So what happened…?
1. The underlying social media landscape shifted2. The app market became saturated3. CPA soared4. Freemium became the norm5. No money left for other tests6. Debt/Revenue/Opportunity mix unpalatable
7. Liquidation
Next time …
1. Get to MVP faster (bootstrapped)2. Start with a great techie3. Don’t underpay4. Build for a flexible business model5. Do one simple thing, really really well