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Leigh: It's not about breedists or breedism, right. But are people paying 20 dollars a month to use this already? Michael: How many other niche companies are there that are doing the dog thing? There were a few that tried to do just dog photos that failed. At that point, we will be able to turn on those different revenue streams if we want to, which we absolutely can. I love the fact that you have additional revenue channels beyond just charging users.
Leigh: You can dig, really dig or pass on the profiles you see. Now I've got the best chihuahua on the planet, but I wouldn't, if I was single, I wouldn't want to be dating someone with a great Dane. Michael: I'm not sure my little girl would like it. We are looking at this as an opportunity for the dog industry to get in front of some of the most dedicated and emotional dog lovers and dog owners out there on the app and at our dog friendly events we throw across the country. Michael: But eventually you have to get to a paid version. So the 0,000 will help our team get paid for the first time, and focus on getting to that 100,000 monthly active user mark. So the first one was sort of a generalist dating app, and then the second one was very niche, which I won't name here.
I’m Charles Hudson Charles started Precursor Ventures, where he’s invested million in over 100 startups to date. A few years ago, my sister was dating a guy who tried to be a dog person for her. Because even if they don't meet that vision, if they get one third there or halfway there, it's often a great, great success for all. Phil: Long.[laughter]Michael: Now you're getting it. Phil: How much runway does a million and a half give you?
But you can look at Match’s and Badoo’s own surveys saying that men are much more likely to get liked if they have a photo of a dog in their photo.
Walk us through the journey of our money on this deal. But I still, even when I'm doing angel investments, I want there to be like the 100x return potential.
Where we are right now is building the foundation to be exciting for all of those. Michael: So how do you scale this to be a bigger business? I mean, you’re raising a small, small amount of money. How many users do we need here to be really interesting? Leigh: 100,000 monthly active users will get us to that point of the interest for the bigger, the Badoos of the world. Badoo, when they asked us this question, they said, how are you going to get us to the million downloads? Michael: Do you have any lead venture capitalist for your round right now?
And there’s more than 70% of dog owners sleep with their dog in their bed now.
And so there's a lot that I really like about this.
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