Stage: Napkin (idea)
Number of employees: 1-5
Investors: Richard Wolpert, Jeff Solomon, Chris Olson, Paul Bricault
Nearly every parent in the world has faced the same problem: what to do with all that artwork kids create. It may seem like a trivial issue, but the initial, overwhelming response to Artkive would tell you otherwise.
With Artkive, you'll never again feel guilty about throwing stuff away. Artkive is the easiest and fastest way to take, tag, and chronologically store your child's art and school work - then turn it into a hard cover book with little more than the touch of a button. Think Grandma wants to see that artwork? We make that easy too...
Here's a short video about a mom who gets caught throwing away artwork:
Artkive has multiple opportunities to generate revenue:
1) App sales - the app is currently selling for $2.99 in the app store. We'll likely put it back to free for a limited time at some point, but the app performs well every week
2) Book sales - the cornerstone of the app is the ability to quickly and easily turn your artkive into a bound hardcover book.
3) Other product sales - We'll soon be adding a variety of other products that can be ordered with your child's art. These make great gifts and through our "Share Circle", there will be opportunities for Grandparents and other friends/relatives to order directly as well.
4) Promotions - we have a large and fast growing network of highly engaged moms. Brands who are interested in reaching these moms can partner with us to create innovative campaigns.
5) Licensing - Our brand identity immediately resonates with people and we have already been approached by people interested in licensing the Artkive name for offline products
Results since launch (first 4 months)
- More than 100k installs
- 500,000 art images uploaded
- Chosen as a 'Favorite Find of 2012' by Daily Candy
- Chosen as an 'App of the Week' and a 'Pick of the Year' by Cool Mom Tech
- Featured on The Today Show, Fox Morning News stations across the country, TechCrunch, Wired, Real Simple, and nearly 100 mommy blogs
- Sample post from a blogger: Artkive:Your New Favorite App of All Time
Our first mover advantage has allowed us to become the clear market leader in this space. Adding to this advantage is the fact that there are high switching costs. Once you've got your artwork uploaded and have potentially thrown it away, it's unlikely you're going anywhere else. We have a strong brand name that immediately resonates for people. Finally, we make it incredibly simple to turn all your images into a book - taking less than 2 minutes.
Plans for 2013
- Release Android version in Q1 due to outpouring of demand
- Refine book purchasing user experience in app
- Integrate additional sharing features to incease virality of app
- Launch web portal for users to further manage their accounts with increased eCommerce opportunities
- Launch our School Give Back Program (Q1) which allows schools to earn 10% of any revenue generated by families in their school.