A founder pitches Be Present, an app using gamification and social competition to reduce screen time, to investor Sahil. The startup projects $50,000 in revenue this year and plans to monetize through freemium subscriptions and brand sponsorships. Sahil passes, saying he wants more growth potential.
This founder is trying to convince this world-class investor to take a follow-up meeting and invest $100,000 in his business. You have 60 seconds. You ready to do it?
Let's do it.
What's the name of your business?
Be Present. What is your business in one sentence? We are Duolingo for reducing your screen time. What is the problem that you're solving? Phone addiction. This is a problem that impacts billions of people, and I think it's the defining problem of my generation.
What is your specific solution to the problem?
Our key insight is to solve this problem, you need to use the same psychological techniques that social media companies use to keep us addicted. So our mobile app syncs with user screen time data and incorporates features that are proven to impact behavior change, like gamification, social competition, and even real-life rewards to motivate you to block distracting apps and limit your screen time.
How do you make money?
Uh, freemium subscriptions as well as brand sponsorships for rewards within the app.
How much will you do in revenue this year?
We would do about $50K.
Sahil, it is time. Is this a go or a no-go for you?
This is a no-go, unfortunately.
I just think as a VC, I'm looking for a little bit more sin in my business. He's looking for more sin in his business.
