250.000 €Post - Money
May 10, 2015
It is a literary community for readers and writers. Sttorybox is halfway between microblogging networks (Twitter), where space for writing is too limited and other means of writing as blogs, where the requirements become too large for the needs of many writers: knowledge is needed technicians to maintain it, it takes a lot of effort to get traffic, etc.
Sttorybox is for writing what Instagram supposed for photography: to make it close and natural to the user, promoting the social component. The Sttorybox community aims to be a virtual showcase for any type of writer, both amateur and professional, adapting the writing to a new online narrative model.
HOW DOES IT
Sttorybox focuses primarily on user interaction. Writers upload their own stories by parts (Sttorybox boxes). To continue writing they need to get likes from other writers, so they share their stories in other media and social networks to get it, and interact with other users of the platform.
COMPETITIVE ADVANTAGES DO YOU HAVE?
• Our users are very active. We reward and encourage interactions between them, so Sttorybox is a living, rich and self-creating community. This causes the average session time to exceed 8 minutes (twice the average online writing site).
• Our model is replicable and scalable in any other country and language.
• We are a platform completely focused and adapted to the reading and writing. We have specific tools to boost them.
• We are a new model. Our users see us as a new change in the forgotten terrain of writing. This makes any lover of reading or writing encouraged to try and share it.
WHAT IS THE BUSINESS MODEL?
The knowledge of the literary tastes of our users would allow us a strong enough segmentation to be able to do:
• Recommendation to buy books according to your tastes or the people you follow.
• Sponsored cases: Non-intrusive advertising (inside boxes of the platform) of writers, books, etc.
• Measurement of trends and audience. To know what are the trends of the literary scene at the moment (services for publishers and the like).
• Segmented advertising (age, sex, literary tastes, location, device, etc.).
• Online literary workshops: scalable, with teachers and online content within a platform.
HAS ANYONE INVESTED IN
We got our first round of funding in January 2015, worth € 7,500, rising from 350 users (October 2014) to 4,000 users in April 2015.
In our second round of financing we are looking for € 15,000 divided into 2 sections of € 7,500 each. The first (June 2015), with a valuation of the company of € 220,000, aims to reach the 8,000 users before October 1 and start billing in September 2015 with the creation of an online writing workshop. The second (October 2015), with a valuation of the company of 280,000 € and conditioned to reach the milestones mentioned above, aims to reach 12,000 users by the end of the year, as well as revenue from targeted advertising.
INTERESTING FACTS ABOUT
• Between 18-34 years
• 68% girls and 32% boys
• 8: 22 minutes on average per session (twice as many as other competitors)
• 75% of Spain and 25% of Latin America
• 70% rate of return
• 20% of users have written at least one story
• 25% of users have commented on at least one story
• 75% of users voted on at least one story
GLOBAL DATA ACHIEVED
+37,000 sessions in the last month
+30,000 likes to stories
+7,000 comments in stories
+5,000 texts created
500-700 unique users per day
• 63% are readers (50% at least once a week and 13% occasional)
• It invoices + 3.000M annually in the sale of books (physical and digital)
• 22% of the titles are already available in digital format
• + 500,000 digital book reading devices sold
• 45% of users have made an online purchase
IS THERE A
SIMILAR WEBSITE THAT HAS BEEN SUCCESSFUL?
Wattpad (http://www.wattpad.com), with 35M of visits per month and 2M of writers. Mainly in the USA. He has received more than $ 70M of investment in several rounds. Its presence in Europe is scarce and in Spain practically null.
Javier Vargas Caro / CEO
• Extensive experience in startups and in web development
• Main developer in Ahorro.net (reaching 300k in financing)
• Senior Developer at Buy it
• http: //en.linkedin.com/in/javiervargascaro
Víctor Gabriel Peguero García / COO
• Degree in Audiovisual Communication
• Degree in Advertising and PR
• Student of Law and Political Science
• 4 years EXP. on mk online and e-commerce