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Knowable launches its ‘not a podcast’ $100 audio classes
Books on tape were the lifeblood of self-help. But e-learning startups like Khan Academy and Coursera demanded our eyes, not just our ears. Then came podcasts that make knowledge accessible, yet rarely focus on you retaining and applying what they teach.
Today, a new startup called Knowable is launching to provide gaze-free audio education at $100 per eight-hour course on topics like how to launch a startup or how to sleep better. The idea is that by layering chapter summaries and eventually interactive activities atop premium, long-form, ad-free lessons, it can become the trusted name in learning anywhere. With always-in Bluetooth earbuds and smart speakers becoming ubiquitous, we can imbibe content in smaller chunks in new environments. Knowable wants to fill that time with self-improvement.
The big question is whether Knowable can differentiate its content from free alternatives and build a moat against copycats through savvy voice-responsive learning exercises so you don’t forget everything.
To evolve beyond the podcast, Knowable has raised a $3.75 million seed round led by Andreessen Horowitz’s partner Connie Chan, and joined by Upfront, First Round and Initialized. “The market is ready for a company like Knowable. Their timing is right and their team possesses the rare combination of product expertise and creative media experience necessary to win. That’s why I’m not just hosting Knowable’s first course, Launch a Startup, we’re also one of the earliest investors in the company,” says Initialized’s Alexis Ohanian.
There’s certainly a market opportunity, as 32% of Americans listen to podcasts monthly, up from 26% in 2018, with 74% of those citing the desire to learn. Half of Americans have listened to an audio book. The e-learning market is $190 billion today, but projected to grow to $300 billion as bloated and expensive higher education succumbs to cheaper and more focused options.
But to score consistent revenue, Knowable must build up its library and execute on plans to offer a subscription service with access to updates on prior lessons. A major challenge will be bundling classes on the right topics that don’t exhaust users so they keep listening and paying.
Building a school from sound
“My first-generation immigrant parents came here without college degrees. Great teachers let me move up the socioeconomic ladder pretty quickly,” says Knowable co-founder Warren Shaeffer. “The genesis of the idea came from our shared interest in education and the value of great teachers.”
Shaeffer and his co-founder Alex Benzer have already been through the struggles of startup life together. After meeting at MuckerLab in LA and splitting from their respective co-founders, in 2007 they created SocialEngine, a community website builder that sold to Room 214. Next they built up a video platform for independent creators called Vidme that raised $9 million but never became sustainable before selling to Giphy in 2018.
The pair had glimpsed how great content could rope in an audience, but felt like the true potential of the podcast hadn’t been explored. Why did they have to be produced on the cheap, distributed on generic platforms and supported by ads? Knowable emerged as a way to create luxury audio, delivered through a purpose-built app and paid for with direct sales or subscriptions. Instead of recording unscripted discussions as episodes, they mapped out course curriculum and filled them with structured advice from experts.
I’m a few hours into the Ohanian-hosted Launch a Startup. It’s certainly a lot more efficient than trying to learn the basics just through storytelling from podcasts like Reid Hoffman’s Masters of Scale or NPR’s How I Built This. One chapter breaks down the top ways startups die and the traits you’ll need to persevere. From optimism and resilience operating in unstructured environments to a refusal to make excuses why you can’t succeed, Ohanian cooly recaps the learnings at the end of the chapter. Open the app and you’ll get a written summary plus suggested blog posts and books for diving deeper. An accompanying 95-page PDF workbook collects all the key learnings for rapid review later.
The topic is huge, though, and Knowable is at its best when it’s distilling knowledge into neatly packaged lists and frameworks. The course’s weakest moments are when it feels most like a podcast, with somewhat meandering conversations with random founders discussing how they dealt with problems. Meanwhile, it currently lacks some basic tools like in-app notetaking and sharing, or as wide a range of playback speeds and rewind options as you’ll get on Audible. “We don’t think of ourselves as a podcast company,” Shaeffer says, but that’s still who he’s competing against.
— Alexis Ohanian Sr.
(@alexisohanian) May 28, 2019
What’s also missing is any true interactivity. The downside of audio learning is that if you’re not paying full attention, it’s easy to zone out. Knowable needs to develop voice and touch-controlled exercises to help users apply and retain the lessons. There are plans to launch learning communities where students can confer about the classes, akin to Y Combinator’s “Bookface” forum.
However, Shaeffer says that “we’re on a mission to make education more accessible and quizzes might be an impediment to that,” which leaves questions about what the learning activities will look like, even though they’re crucial to users coughing up $100 per class. It’s easy to imagine Spotify/Anchor, Gimlet Media or other major podcast players developing their own interactive features and classes if Knowable doesn’t get there first.
Snackable audio education
The startup’s bid for virality is the ability to give a friend a code to take the class with you. Knowable is also hoping big-name experts and quality driven by a team cobbled together from NPR, The Washington Post, William Morris Endeavor, Masterclass and Vice will set it apart. They’ve got a lot of work ahead to grow beyond the six courses currently available on topics like climate change activism and real estate, especially because there’s a 100% money-back guarantee if classes fall short.
For the moment, Knowable feels a bit late with its homework. It has the potential and demand to reinvent audio learning but currently sounds too similar to what’s already everywhere. I was hoping for a Bandersnatch for education that made a broadcast experience feel more like a game.
But the opportunity will only continue to grow as we spend more of our lives in earshot of AirPods and Echoes. With a broad enough library and clever editing, one day you might tell Knowable “teach me something about venture capital in eight minutes” as you walk to the coffee shop. That’s going to have a much better impact on your life than just scrolling through another feed.
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Pandora puts its personalization powers to work in a revamped app
Pandora is doubling down on personalization and revamping its app in order to better compete with rivals like Spotify and Apple Music. Today, the company is introducing a new mobile experience that includes a dedicated “For You” tab where a continually updated feed of content is presented to users, including both music and podcast recommendations (and more). This content is personalized to the individual, based on factors like the day of the week, the time of day and Pandora’s predictions about your mood, among other things.
The new personalized feed will also help the company to better showcase more of its exclusive content — like its music-and-podcast combos, called “Pandora Stories,” for example. Or the dozens of SiriusXM talk shows that became Pandora podcasts following its acquisition.
“Our listeners have told us that they love the utility of Pandora — it’s drop-dead easy, it works, it knows me, it’s really simple,” explains Pandora’s Chief Product Officer Chris Phillips. “But what they haven’t been able to understand and have easy enough access to is all the content and programming that we have available on Pandora — the new content, new programming and the unique content that you can’t get other places,” he says.
The For You tab aims to change that by turning Pandora’s personalization capabilities onto its broader catalog and exclusives, then crafting a scrollable feed with dozens of ways to listen.
Here, you’ll be able to tap into Pandora Modes, for example, which is a new way to listen to Pandora Stations. The feature was previously available on the web, and has now come to mobile for the first time with today’s launch.
Pandora Modes let you toggle between ways to customize your stations. You can opt for modes that will tweak the station to play things like the most popular songs (“crowd faves”), the deep cuts, new releases, artist-only tracks and more. You also can opt for a “discovery” mode to have Pandora introduce you to new artists you may like, as related to the station in question.
Another section in the For You tab lets you browse by categories, including genre, new music, podcasts, moods, playlists, decades and trending.
The “Moods & Activities” section, meanwhile, will present collections of music based on current trends — for example, one of the available “moods” is “fall,” and another could be “rainy day,” matched up with the day’s weather. You also can dig into this section for moods to match your activity, like workout, gaming, studying, family time and more.
As you scroll down the For You page, you’ll come across your podcast recommendations and personalized playlists. And Pandora can create some 80 different versions of the latter, which include playlists by moods, activities, genres and more, all powered by its Music Genome.
Plus, the combined Pandora and SiriusXM editorial team of around 25 creates hundreds of human-curated playlists, too.
In total, there are some 35 different modules in Pandora’s new For You feed, some of which are shown to every user while others appear dynamically based on time of day and day of week. Its suggestions will also be tailored to your own likes and interests, thanks to your own listening behavior and explicit signals, like thumbs up and thumbs down.
That means your For You tab will be unique to you, and you can later be targeted with specific promotions — like the content to emerge from that deal between SiriusXM/Pandora and Drake, for example, if relevant to your interests. (Hey, it’s better than that time when Spotify put Drake’s face on every playlist.)
Despite the personalization, the feed will still include some insights powered by the larger Pandora population, so you can see what’s popular and trending more broadly across the service.
In time, Pandora plans to roll out even more modules to build out the experience further.
“100 billion thumbs are what’s powering all this,” adds Phillips, speaking of Pandora’s recent milestone, which measured the number of thumbs up and down clicks from users. Until now, he says, Pandora “hadn’t really brought together the community…and the power of our personalization, but not just for stations — for all the playlists, albums, songs and artists,” Phillips continues. “And then the idea that we lay on top of all of this…the idea of what time of day it is, and what might be interesting based on what we predict your mood is right now,” he says.
The “For You” tab and other features are arriving today on Pandora for iOS and Android.
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Spotify now lets you add podcasts to playlists
Spotify this morning announced a new feature that will allow users to add their podcasts to playlists. With the addition, users can create their own custom playlists of their favorite podcasts, or even those that combine music and audio — similar to Spotify’s own newly launched “Your Daily Drive.”
With “Your Daily Drive,” Spotify put its personalization engine to work to combine both music and news from select sources. But with the ability to now build your own podcast-filled playlists, you won’t have to rely on Spotify’s curation as much.
Instead, you can build your own podcast playlists by tapping the three-dot menu to the right of the podcast episode and then “Add to playlist.” You either can choose to add it a playlist you’ve already created, or you can build a new one from scratch. You can continue to add more content to this playlist, including music, if you prefer.
The company says this functionality is something users have regularly requested since the integration of podcasts to its streaming music service. However, it’s not necessarily the easiest way to tune into the latest episodes of your favorite programs, as it involves manual curation.
Many podcasts release new episodes every week or so — and don’t want to get stuck constantly building playlists for those. Instead, the feature makes more sense for curating a set of podcasts around a theme, or preparing yourself to binge your way through a few programs on a long commute or road trip, for example.
Spotify says today there are more than 3 billion user-generated music playlists on its service, so it believes that its users will embrace this new curation ability, as well.
Once a podcast playlist has been created, it can be shared with friends or the public, just like music playlists can be. This could make for an interesting marketing tool for podcasters, who could put together playlists of their best episodes or those with high-profile guest stars, for example, as a way to introduce newcomers to their shows. But it also could serve as a way for friends to recommend their favorite shows to others, by putting together a list of their all-time favorite episodes.
For those interested in tracking news and entertainment, they could build playlists of podcast episodes from different sources all focused on the same topic. For instance, a playlist offering everyone’s reviews of the new iPhone.
Over the past year or so, Spotify has heavily invested in the podcast market, including through acquisitions like Gimlet, Parcast and Anchor — as well as in its programming, like the deal with Barack and Michelle Obama’s production company, Higher Ground, for instance, and a quickly growing number of exclusives, windowed-exclusives and originals. It also hired former Condé Nast president of entertainment Dawn Ostroff to lead its content efforts.
Today, Spotify says it has “hundreds of thousands” of podcasts available to stream on its platform.
The new podcast playlist-building feature is mobile-only for now. On desktop, you can only stream the playlists you made, but can’t build them yet, Spotify says.
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Peloton, WeWork, Vox, Bodega, Kapwing and oh boy are we tired
Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines.
As with yesterday, Kate and Alex were both on-site at TechCrunch’s San Francisco headquarters to chat over the latest. Unlike yesterday, however, Equity brought along a guest: Sean Dempsey from Merus Capital. (Merus writes seed and Series A checks, with a focus on enterprise companies.)
And thus the three dove into the news. Early-stage first, to shake things up.
Early-stage
Kate wrote a story this week about a startup you might have forgotten about but who’s name probably rings a bell. Bodega! The company now goes by Stockwell, actually, and they’ve raised a whopping total of $45 million in VC funding. But what’s in a name after all? We debate.
Next we turned to an interesting company called Kapwing. What’s that you ask? “It’s a laymen’s Adobe Creative Suite built for what people actually do on the internet: make memes and remix media,” says TechCrunch’s Josh Constine. We’re intrigued.
Late-stage and beyond
This week Peloton priced and went public. The firm’s $29 per-share IPO price was top of its proposed range ($26 to $29). The public markets, however, decided that the unicorn had reached too high.
So, shares of the high-end exercise company dropped, wrapping the day down about 11%. A good IPO first day this was not, though the company did manage to raise more capital than it might have with more conservative pricing. (Peloton has a yucky multi-class share structure that we touched on as well; it seems that all the big companies these days are opposed to regular governance.)
Next we turned to the Vox-NYMag merger. It’s a bit out of our territory but it’s a digital media deal, so we were interested. After all, the two of us have spent our entire careers in digital media and we have a vested interest in these companies surviving.
WeWork (Redux)
We honestly tried to get all the WeWork out of our system yesterday. We wanted to include zero WeWork content on this episode. But WeWork keeps doing things, so here we are.
Keeping things as brief as we can, WeWork is going to divest some companies that it bought (more on what we thought it was up to, here) including its jet, and the firm is looking to take on more capital. Unsurprisingly.
All that and we’re done for this week. Chat you all at Disrupt!
Equity drops every Friday at 6:00 am PT, so subscribe to us on Apple Podcasts, Overcast, Spotify, Pocket Casts, Downcast and all the casts.
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Podcast app Pocket Casts is now available for free, with an optional $0.99 subscription
Anyone who wants to download the podcast app Pocket Casts can now do so for free.
Previously, you had to pay a one-time fee of $3.99 to access the Android or iOS apps, but CEO Owen Grover said this approach seemed increasingly at odds with Pocket Casts’ goals, and with the vision of the public radio organizations (NPR, WNYC Studios and WBEZ Chicago) that acquired it last year.
“We understood pretty clearly that we were limiting our reach and limiting the number of users that could enjoy the quality and power of the app and the platform,” Grover said. “It felt penny wise and pound foolish to continue to collect a few dollars at the top … We have the benefit of these owners who are supporting us in a way that allows us to grow our audience, habituate new listeners and deliver a pretty terrific user experience.”
So moving forward, he said the core features of the Pocket Casts app — including audio effects and cross-platform sync — will be available for free.
At the same time, Pocket Casts is launching a monthly subscription called Pocket Casts Plus, where he said “power users and super users” can pay 99 cents a month or $10 a year for access to the desktop apps, cloud storage of their own audio and video files and exclusive app icons and themes.
Shifting from a one-time fee to a subscription model might seem like a move to make more money, but Grover said the company is really just charging a fee to cover the costs of the Plus features, particularly cloud storage.
“In the short term, we will make less money. It’s not about that,” he said. “It’s not about maximizing app revenue for us, it’s about maximizing the unique quality of the partnership [with] our wonderful public media partners.”
That doesn’t mean Pocket Casts isn’t interested in making money. In fact, Grover said the team will have “more to share about how we think about sensible, sane, scalable business models moving forward.” (He also assured me that the model won’t focus on advertising.)
He painted this change as part of a broader strategy after last year’s acquisition, which was followed by upgrades to Pocket Casts’ back end and front end.
“This is really the third pillar — now we’re off to the races,” Grover said.
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WeWork and Uber are proof valuations are meaningless
Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines.
This week Kate and Alex were back to cover a lot of late-stage news, which they rounded up with some early-stage notes toward the end. As a reminder, come check out the show at Disrupt SF if you are in town, we’ll be out amongst startups, chatting all things startups and money.
Up top, we dug into WeWork and the latest from the company’s continuing IPO saga. The question regarding the co-working company’s public offering has changed to whether the IPO will happen this year, not just at what price the firm can entice enough investment to actually get public.
Alex has written about the company’s cash appetite a few times now, which raise the question of how long the company can survive without some sort of large, external investment. If SoftBank is willing to commit more capital is an open question.
Moving along to Uber, the firm underwent layoffs again this week. More than 400 people, or 8% of the operations, were cut as the company attempts to streamline operations, cut costs and, well, take baby steps toward profitability.
Turning to the early-stage part of the world, there’s a new early-stage-focused venture fund out there, Work Life Ventures, which intends to put small checks into promising SaaS companies. The firm is led by SaaS School founder Brianne Kimmel, a well-known angel investor in the enterprise space. So far she’s backed three companies out of the fund, including recent Y Combinator standout Tandem.
We finished off the episode with… cereal. A company called Magic Spoon (their website is here, as promised) raised $5.5 million this week for its D2C breakfast business. Our take is that the price point is a bit too high for comfort in its current iteration. It’ll be interesting to see if the startup can lower its prices now that it has new capital.
We’ll be back in a week! Chat soon, and please stop telling us to become angel investors!
Equity drops every Friday at 6:00 am PT, so subscribe to us on Apple Podcasts, Overcast, Spotify, Pocket Casts, Downcast and all the casts.
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Could Peloton be the next Apple?
Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines.
This week we were back in the SF studio, with Kate and Alex on hand to chat venture, business, startups, and IPOs with Iris Choi. Choi is a partner at Floodgate, and one of the very few folks who have ever been invited back on the show.
Despite Floodgate being an early-stage firm, Choi was more than willing to dig into the week’s later-stage topics, starting with the Peloton IPO filing. Kate was stoked about the offering (her piece here, Alex’s notes here). Peloton, a fitness, media, hardware (and more) company, is a lot different than your run-of-the-mill enterprise SaaS exits.
Next Alex ran the team through a list of impending IPOs that we care about. There are a number of venture-backed companies looking to go public before the stock market falls apart. More on each when they price.
After the S-1 march, we turned to personnel news, namely that Instacart’s CFO is leaving the firm after about four years with the company. Ravi Gupta is joining Sequoia Capital. We’ll tell you why.
Next, we touched on two rounds. First, a Kleiner deal into Consider, an app that brings power-tooling to email. And then we chatted about Inkitt, another Kleiner deal. Why the pair of early-stage rounds? Because Alex recently went to Kleiner to chat with its new partner team about where they’ll deploy capital in the future.
And that took us comfortably over our time. A big thanks to Choi for joining us, again, and you for sticking with the show. More next week!
Equity drops every Friday at 6:00 am PT, so subscribe to us on Apple Podcasts, Overcast, Spotify, Pocket Casts, Downcast and all the casts.
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The myth of ‘stage agnostic’ investing
Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines.
This week we were helmed by Kate Clark, Alex Wilhelm and yet another extra special guest. Unusual Ventures co-founder and partner John Vrionis joined us to talk soil investing (yes, it’s a thing), seed investing, growth investing and all the somewhat meaningless funding stages.
Vrionis was a longtime investor at Lightspeed Venture Partners and has made big bets on a number of companies, including AppDynamics, Heptio and MuleSoft.
It was a great episode that kicked off with some conversation around DoorDash, the food delivery company that continues to make headlines week after week. We’d like to stop talking about the company, but it intrudes regularly into our notes.
This time DoorDash bought a few companies, purchases that appear set to allow the firm to boost its investment and research into self-driving delivery robots. (Kate saw one in the wild recently!)
Next we went deep into the subject of seed. John, of course, has been a seed investor for years and has lots to say on the topic. Mostly, we discussed Kate’s latest piece on mega-funds making an increasing number of deals at the earliest stage. John doesn’t think “stage-agnostic” investing makes any sense. You need experts at each stage making bets on a specific type of company. In his words, “a heart surgeon wouldn’t deliver your baby, right.”
Then we moved on to one of our favorite subjects, namely direct listings, the IPO market and if money is too often left on the table. The question takes on extra import when we see results like Dynatrace’s IPO, which rose around 50% its first day. It seems likely that we’ll see other companies pursue the sort of direct listings that Spotify and Slack managed.
That segued us brilliantly into our final topic: Airbnb and its financial health. The firm, we reckon, is a good candidate for a direct listing itself. We talked over its numbers, and if we were to sum up our perspectives, we’d say that Airbnb is about as impressive as we expected.
All that and we had fun, as usual.
Equity drops every Friday at 6:00 am PT, so subscribe to us on Apple Podcasts, Overcast, Spotify, Pocket Casts, Downcast and all the casts.
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Axios’ Dan Primack on ‘the most polarizing startup that exists’
Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines.
This week was a bit special. Instead of meeting up at the TechCrunch HQ to record the episode, Kate and Alex met up in muggy Boston at Drift’s office, where we linked up with Axios’s Dan Primack. And because we were feeling chatty, we went a bit long.
After checking in with Primack (he has a newsletter and a podcast), we first dealt with the latest from Tumblr. In short, Verizon Media is selling Tumblr to Automattic for a few dollars. How did Verizon wind up owning Tumblr? Ah. Well, Yahoo bought it. Later, after Verizon bought AOL, it bought Yahoo. Then it smushed them together and called it Oath. Then Verizon decided that it didn’t like that much and renamed the group Verizon Media. But Verizon doesn’t want to own media (besides TechCrunch, of course), so it sold Tumblr to Automattic, a venture-backed company best known for operating WordPress.
That’s a lot, I know. What matters is that Yahoo bought Tumblr for more than $1 billion. Verizon sold it for around $3 million. Now, Automattic has a few hundred new employees and a shot at juicing its user base before it goes public.
After that, we lamented that the WeWork S-1 had yet to appear. This was a tragedy, frankly. We had expected to spend half the show riffing on WeWork’s financials, alas…
So we turned to some normal material, like Ramp’s recent $7 million raise to take on Brex, and, SmartNews’s recent round, which gave it an eye-popping $1.1 billion valuation.
We ran a bit long because we were having fun, fitting in some conversation surrounding the notes from the SEC regarding the now-dead and then-fraudulent Rothenberg Ventures. More on that here if you want to get angry.
And finally, Vision Fund 2. It’s been a big source of interest for everyone on the show, and we expect whatever the second-act Vision Fund winds up becoming to be a big damn deal. The fund will invest in more than just consumer marketplaces; in fact, it’s eyeing more AI businesses and even biotech. That should be interesting.
All that and we have a lot more good stuff coming. Thanks for listening to the show, and we’ll be right back.
Equity drops every Friday at 6:00 am PT, so subscribe to us on Apple Podcasts, Overcast, Pocket Casts, Downcast and all the casts.
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Glow raises $2.3M to help podcasters make money
Glow is a new startup that says it wants to help podcasters build media business.
That’s something co-founder and CEO Amira Valliani said she tried to do herself. After a career that included working in the Obama White House and getting an MBA from Wharton, she launched a podcast covering local elections in Cambridge, Mass., and she said that after the initial six episodes, she struggled to find a sustainable business model.
Valliani (pictured above with her co-founder and chief product officer Brian Elieson) recalled thinking, “Well, I got this one grant and I’d love to do more, but I need to figure out a way to pay for it.” She realized that advertising didn’t make sense, but when a listener expressed interest in paying her directly, none of the existing platforms made it easy.
“I just couldn’t figure it out,” she said. “I felt an acute need, and I thought, ‘Are there other people out there who haven’t been able to figure out how to do it, because the lift is just too high?’ ”
That’s the need Glow tries to address with its first product — allowing podcasters to create paid subscriptions. To do that, podcasters create a subscription page on the Glow site, where they can accept payments and then allow listeners to access paywalled content from the podcast app of their choice.
Glow started testing the product with the startup-focused podcast Acquired, which is now bringing in $35,000 in subscription fees through Glow. More recently, it’s signed up the Techmeme Ride Home, Twenty Thousand Hertz, The Newsworthy and others.
When asked about the broader landscape of podcast startups (including several that support paid subscriptions), Valliani said there are three main problems that podcasters face: hosting, monetization and distribution.
Hosting, she said, is “largely a solved problem,” so Glow is starting out by trying to “solve for monetization through the direct relationship with listeners.” Eventually, it could move into distribution, though that doesn’t mean launching a Glow podcast app: “For us, we think distribution means helping podcasts grow their audience.”
The startup announced today that it has raised $2.3 million in seed funding. The round was led by Greycroft, with participation from Norwest Venture Partners, PSL Ventures, WndrCo and Revolution’s Rise of the Rest Seed Fund, as well as individual investors including Nas and Electronic Arts CTO Ken Moss.
“Our first hire after this funding round will be someone focused on podcast success,” Valliani said. “Of course, we’re going to build the product [but we’re] doubling down on this market; we better make sure that [podcasters] are prepared to launch programs that are as successful as possible.”
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