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Pibox Music

Mix review and remote collaboration for audio production

Ukraine, Kyiv city
Market: Internet and IT
Stage of the project: Operating business

Date of last change: 16.01.2018
Min investment
$  50.000
1
Total required
$ 150.000
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Idea

We're making service that helps music producers and engineers organize their work with clients and other participants of audio production (musicians, producers etc.). We're giving them a place where they gather all the feedback about the mix. Producers also keep all the versions in a studio quality and all the communications with different clients in one place. We're selling them subscription which includes cloud and members quota, so they get the all-in-one solution to start working in one place.

Current Status

- Revenue from subscriptions: $3500
- Registered users: 800
- Conversion trial to paid: 4.6%
- MRR: $370
- САС: ~ $66
- LTV: $335

Market

According to SoundCloud they have 39 million users who bought the Pro or Pro Unlimited plan. In other words, they are not listeners, namely musicians and producers, in one way or another. Accordingly, we can say that the number of our potential users is ~ 39 million. Since our plan is bought on average for 5-7 people group, in this case, potentially paying users of Pibox Music are 6.5 million people.

Problem or Opportunity

More often producers are using basic communication and storage apps (gmail, messenger, dropbox). In Pibox our communication and workflow build around audio, so users can leave detailed comments on a wave, listen to tracks in studio quality, keep revisions etc., also we have the extended cloud features (e.g. handle massive projects) and live chat communication. There are also Splice, Blend.io services, but they are not about communication, they handle DAW-to-DAW collaboration (like GitHubs for music projects).

Solution (product or service)

We're making the all-in-one solution for organizing audio production workflow. Pibox handles all communications, versioning and file storage.
Basic features:
1. Time-stamped audio wave comments
2. File revisions
3. 520 kbps stereo streaming and calls
4. Cloud for extra large studio files
5. Project-based workflow

Competitors

More often producers are using basic communication and storage apps (gmail, messenger, dropbox). In Pibox our communication and workflow build around audio, so users can leave detailed comments on a wave, listen to tracks in studio quality, keep revisions etc., also we have the extended cloud features (e.g. handle massive projects) and live chat communication. There are also Splice, Blend.io services, but they are not about communication, they handle DAW-to-DAW collaboration (like GitHubs for music projects).

Advantages or differentiators

Most everyday used (not direct competitors):

1. Messenger.com (and other live chats) - We have the live chat feature, but also we have time-based wave commenting, file revisions, project-structured workflow, 520 stereo streaming and calls fro pro audio etc.

2. Gmail.com (and other email clients) - For communication, we have the live chat feature, but also we have time-based wave comments, file revisions, project-structured workflow, 520 stereo streaming and calls fro pro audio etc.

3. Dropbox.com (and other cloud storages) - We have cloud storage for sharing and storing extra large files (190 Gb per file), live chat feature, time-based wave comments, file revisions, project-structured workflow, 520 stereo streaming and calls fro pro audio etc.

In Pibox all these features are built for professional audio files and keep all the studio quality.

Also, there are solutions for DAW-to-DAW collaboration (similar to Github for coders), but they are not organizing communication. If they are "Githubs", we more like InVision or MarvelApp for audio.

1. Splice.com - it's more like "GitHub" for music projects (now focused on selling samples)
2. Blend.io - like Splice, solution for storing music projects
3. Kompoz.com - online collaboration focused on finding external collaborators who can participate in the production and then control the split of rights.

Business model

We're selling subscription which includes cloud and members quota.
Plans example:
Pro plan, $24/mo, 12 members, 50 GB cloud

Money will be spent on

- Marketing 65%
- Team 30%
- Infrastruture 5%

Offer for investor

We can use convertible loan or equity model.

Team or Management

Risks

As we're first communication solution for audio production sphere after we become noticable on wordwide arena, we have to raise more investments to be able to continue fast growth and remain industry leaders.

Incubation/Acceleration programs accomplishment

Yes, a year ago we graduated from Kyivstar (Vimpelcom/Veon) accelerator http://radartech.com.ua/. This acceleration focused us on our audio collaboration pivot.

Won the competition and other awards

We won several startup contests. For example Seed Forum London.

Invention/Patent

We've registered our trademark.

Photos

Photo 1 - Pibox Music
Photo 2 - Pibox Music
Photo 3 - Pibox Music

Website address

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video
Website address