Hi Tom, thanks for your question. Revenue is driven by in-app purchases of pitch time based on a 1-minute, 2-minute, or 3-minute pitch at a cost of $2.99, $5.99, and $9.99 respectively. The entrepreneur chooses the duration based on the amount of time they need to make their pitch. The community of users rates pitches based on a 5-star rating system. Each week we pool the funds generated by the app and fund the person with the highest rated pitch up to $15k to jump start their idea or existing product.
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@matt_hefferon Wow, didn't expect that but great response! I will have to check this out. Are you excited for Shark Tank on Friday?
@tomlynam You know, just in case Kevin was on here posing as a "Tom". Mr. Wonderful likes to hear hard numbers. Thanks again for posting, and yes, stoked for ST!
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@matt_hefferon This is a great idea! how many weekly payout have you had so far? what were the payouts?
@yasarcorp We are really excited about growing the user base so entrepreneurs who pitch will receive the kind of feedback and product validation that will assist them in making decisions early on.
Thanks for checking out Pitch deck! We just launched the app and hope you guys really like it. We like to think of the product as Snapchat meets Shark Tank :)
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@matt_hefferon What are your sales? How do I make MONEY?!
@danthevc Thanks for pitching! If you have any questions or feedback please let me know. You can also check out our FAQ page on our website here: 😖 We really appreciate your help in growing the Pitchdeck community as it benefits everyone involved!
Hey very cool ideas. Is there a plan to expand the 15k as the pool expands? It might also be cool to delineate "competitions" into different product categories as the volume grows.
@maxatgetmii Hi Max, the idea is to grow the community of users to where there are enough weekly pitches to fund the full $15k each and every week. In a given week where the app generates less than the $15k mark, Pitchdeck will fund the highest rated pitch with 90% of the revenue and use the remaining 10% to keep the app running. I like your idea about the product categories, as it would be nice to be able to jump around in different "genres". Currently, the users can select from a list of industries to follow, which filters what category of pitches show up in your video feed.
Thanks for the support/feedback!
@eli_s_kami good question. The money that Pitchdeck funds on a weekly basis comes from pitch revenue and is given to the highest rated pitch with no strings attached. Obviously this differs from an investment where we would ask for a percentage of equity. We want to give entrepreneurs a place to not only gain quality feedback and product validation but also receive funding to help get their ideas off the ground. Thanks for your questions and we hope you'll share Pitchdeck with your network to help build a deep and diverse community of users!
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@matt_hefferon Thanks for the 411. Great concept & I'll definitely spread the love.
Hi @matt_hefferon, great app and I love the concept! Here is couple suggestions and bugs I've encountered so far:
1. I think you should add Facebook login
2. When I press on info icon on the video, I can't scroll this info, because swipe gesture is on UIScrollView to go to trending section
3. Nice to have: make a volume bar as Snapchat, Instagram, Headswitch has, small white sections on top of screen, so it doesn't distract from the video.
4. Nice to have: ask for the user to be sure to sign out, and not just sign out
5. Let users log in with either username or email (and I actually cannot log in back, now. App says that such username is not registered, but I received email for that username)
I feel like this app has a great potential! Good luck with it!
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