Question 1

How do you plan to make money in the long run- Is it ads or say Google purchases your company?

Accepted Answer

So once we have a substantial user base, the goal is to implement an audio-advertising model that lets advertisers actually target their audio ads against keywords and relevant search terms to get the best ROI, while sharing that money with creators. If someone did decide to buy the company then we would entertain that option, but the monetization plan is rooted in advertising long term.

Question 2

The idea is great, but what prevents someone to ”steel” your business idea and hit the major market before audea? Is there related IP, like algoritms etc. Or is the plan just to get there first (I get audea is already there, but not very big yet)

Accepted Answer

Hey Jussi, Good question. So in the context of these platforms, it's less about having IP or patents (anyone can build the same product) and more about execution. The algorithms on most social platforms are the same and require massive amounts of data in order for them to be effective, the bet on companies like this in the early stage is that they can grow users and as a result of growth in users, they have the ability to then build out the network necessary to sustain their competitive advan...

Question 3

Hi Amit - I just watched your 8-minute video and was attentive through the whole thing which I normally shut off on others in 30-60 seconds if they don't sell me the product or service. I see that you are a top public speaker so that makes sense why I listened to you: I have s...

Accepted Answer

Hey Michael - great questions. Will answer them below: 1. Audea ended up being the strongest name for us and our users loved it, so even though there are other companies with the name, because they do completely different things, we felt fine going along with it. Since we are audea.io and eventually when our SEO starts to get stronger, we'll be able to rank for top search results. Most users just really loved the concept of audio-idea and how that allowed the app to be perceived. 2. Links to ...

Question 4

Hi Amit - Aside from you and your CTO, who else is currently on your team supporting this? Do you have CFO, COO, product designers, front end and backend support, etc? Are you working with overseas teams contracting out the work? Please detail your staffing.

Accepted Answer

Hey Michael, Just me and my CTO. We aren't at the stage yet where we need as many positions as you outlined - as we scale, then yes, but for now it's a two man time. My CTO handles all the front end/backend support and I handle all the operations, marketing, finances (pre-revenue so finances are not complicated at this moment). We also have two videographers on staff that we have contracted that help us with marketing.

Question 5

Hello. I'm Ryan Choucha and I live in Quebec. How can I invest because wefunder in not accessible in Quebec because I was really looking forward to invest in this great idea? I heard that it could work through some process but wonder how. If you could really help me how I can ...

Accepted Answer

Unfortunately Quebec and a few other provinces in Canada have banned crowdfunding sites so you won’t be able to. Sorry about that :(

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