Cliff DennettHead Of Business Development

CliffD@innovationbham.com

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