VidApp Round 1

Investment Details

Investment Target
$500,000 - $550,000 NZD
Pre-Money Valuation
$1,750,000 NZD
Investors
17
Time Remaining
Closed

Investment Status
101%
$557,655.50 NZD
101% of maximum target

VidApp is an early stage company that is on a growth trajectory. It’s safe to say they are on their way to becoming a world leading company.  The VidApp platform allows video producers to connect and sell to the world through their own customised video apps.  

Similar to the likes of Squarespace or Shopify that allows anyone to build their own business website or online store, VidApp enables people to create apps to sell and distribute video content easily with no technical knowledge required.

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VidApp is a platform for anyone to create and manage their own individual apps, that are specifically designed to sell video content (think coaches, fitness or yoga instructors). We have proven traction with global customers and a major partnership with a one of the world’s leading online video platforms – Pivotshare.

Who we are

We’re an experienced, well-balanced team who are committed to building a world leading company. 

Customer Problem

Our customers all sell video through websites, but 60% of all online videos are now watched on a smartphone or tablet. Apps are the only way to securely distribute video content on mobile with the functionality and user experience audiences are demanding, however current options for creating apps are overwhelming or too expensive for the mass market. 

Product/Services

VidApp is an easy-to-use platform for anyone to create and manage their own individual ‘vid-apps’ (apps specifically designed to sell video content). The unique combination of our Content Management System and Video App Builder enables anyone to create, manage, and publish their own apps to major connected devices, all in a matter of minutes.

Target Market

Our target market is the millions of experts and personalities who sell video content and video based courses online. We estimate a current addressable market of $180m p.a., and forecast that to grow to $580m p.a. by 2022. While our core customers are currently in the sports and fitness genres, our platform supports content from learning sign language to African films.

Customers

Currently we have 80 video creators on the platform, who have sold $400,000 worth of video through their own individual apps. Our recent partnership with Pivotshare gives us exclusive access to 10,000 video creators who currently sell video content online.

Sales/Marketing Strategy

Our sales and marketing strategy is made up of 3 core channels:

1) Partnerships and integrations - We partner and integrate with existing webplatforms.

2) Outbound email - We have developed an outbound email strategy which is proven and scalable

3) Social + Referral - We plan to implement strong social and referral strategies which are extremely relevant to our target market.

Business Model

There are 2 components to our revenue:

1) An upfront publishing or service fee for any apps produced through our platform 

2) A share of any revenue generated by any apps on our platform 

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Overview as at September 2017

Website
www.vidapp.com
Industry
Software
Founded
2015
Employees
5
Funding Stage
Start Up
Burn Rate
$11,000 per month
Deal Type
Equity
Contact
Dave Hancock
Board / Management

Dave Hancock - CEO and Co-founder - 10+ years in technology, primarily at IBM.  5+ years working in online video startups.  Bachelor of Electrical and Computer Engineering from Canterbury and MBA from Cambridge.

Hannah Curd - CTO and Co-founder - 10+ years in technology, primarily in iOS and data.BSc (Maths, Operations Research and Applied Statistics) from Victoria.

Tom Furlong - Director

Rory Hancock - CMO/CSO - 7+ years in sales and business development.  Salesman of the Year at Lion Nathan.  BCom (Finance and International Business) from Otago.

Advisors

Simon Vannini

Simpson and Grierson - Legal