Jason’s Shark Tank – Emotify
Shaan Siddiqui pitches Emotify
- Idea: Emotify, Tag content based on how they feel and create user media packages.
- Jason’s Recap: The Delicious / Stumbleupon of emotions, you have the core of an idea. BuzzFeed has a tool that is similar. It is in the feature phase, let me guess you are not sure exactly where this will go, can the feature turn into a product and then a business. What have you done before? 2nd startup, self funded, spent $25,000, worked on a year and a half too long and it failed but he has moved on. Jason would have to meet you he prefers crazy passionate entrepreneurs. How does this go from this being an interesting feature to a product? Will this become a destination site? Shaan didn’t answer with conviction, he said basically maybe. This concerned Jason because he thinks it would be a good destination site and wanted to see passion for the idea. What did your parent’s do? Father – Teacher, Mother – Manager of a local supply firm, You grew up middle class? Yes, what kind of car did your parents drive? Accord and Civic. Did you go to college? Yes, paid for college himself. How much money would you need and what would you spend it on? They are about 8 weeks from launching, they have a workable link. They need runway, for servers and a site redesign. They received some money from a local angel. Jason wants a java code to help him make his site better.
- Matt’s Recap: He like the idea of content across multiple websites and multiple mediums and possible curated content. What he didn’t hear was, how will this make money? Right now Shaan is expecting advertising but the business model isn’t fully developed.
- Tyler’s Insight: One of his favorite feature is the Tweetmeme button, it allows you to Retweet right away. Within 6 months he is reaching Digg like numbers, it gives instant feedback. Will this be a similar simple feature?
- End Result: Jason is intrigued and Shaan is onto something, he can’t say yes or no on the spot but you fit his profile, you are cheap by nature.
