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28-Feb-2020 09:14

But either way, investors need to know how is she going to get more users on the app. Leigh: We have users in all 50 states, but we have done events in 14 cities, I believe. Phil: So you have a concentration of users, would you say, in those 14 cities? Our biggest concentration is New York, LA, and Dallas. I'm certainly interested at that lower valuation because I think the outcome is sooner than later. But I'd rather have a better multiple because I think you're going to get bought out at a very reasonable number, and I think it's going to be fantastic. And so if you come back to me in a few months and you have that definitive plan for becoming a billion dollar business, whether it’s verticalizing or turning yourself into a competitor for Wag, for instance, I think I’d be very interested in taking a second look. And there’s more than 70% of dog owners sleep with their dog in their bed now. And one of the ways to break through is to not just have your unique marketplace that you're going after, but unique business opportunities and revenue models. If only we could get on some sort of podcast and tell everyone everywhere that there's women all over Dig right now, right! Leigh: And so that's a big piece of what we're doing. That's exactly what this first part of this raise is going to. Sarah: Well I have the dubious distinction of marrying two people that I met on dating apps here and divorcing both of them. My mom is a full time cat, she works at a cat shelter, and is the person who places cats with people.

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We wanted to see what new ideas and businesses were out there. I’m Sarah Downey Sarah’s a partner at Accomplice where they’ve invested 0 million in over 200 startups so far, startups like Draftkings. I'm Leigh Isaacson, CEO and cofounder of Dig, the dog person's dating app. Michael: Would you sell right now to them if you had the chance? So both sides are looking to us as this opportunity to get in front of different types of people. Soraya: I get really excited by founders who have audacious visions. But I think you have good energy, you have good insights. And I think at scale, there’s a bunch of things on the business model side that will just work better when you have a larger audience that are tough to prove today. Leigh: Soraya, I want to do ten different niche dating apps and go - what did you say? We see this right now as the main thing we're focusing on because it's the largest market, they spend the most, they're right in that niche demographic that you really need. That's paying our team for the first time, trying to get to that million downloads, that's projecting out our spend on marketing side. 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?

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