Pei: Nothing manufactured its first earbuds with a blacklisted Chinese factory
“We went to the worst factory. Like the factory, if they didn't take us on as a client, they would go out of business immediately. In China, because they were on the blacklist of a lot of other people for quality issues.”
Fox: Earbuds has partnered with Spotify and Apple Music
“So we've partnered with Spotify and Apple Music, and so instead of just listening to music, we allow you to broadcast it, where other people can tune in live and listen along with you in complete, synchronized, real-time.”
Fox: Earbuds has roughly 5,000 MAUs during soft launch
“It varies, but plus or -5000.”
Fox: Competitors Vertigo and Eavesdrop have flopped and floundered
“You know, there's Vertigo tried to do it. It flopped out. It's had, it's exchanged founders several times. There's another one called Eavesdrop. Eavesdrop's kind of floundered.”
Fox: The winner in social music will be platform-agnostic
“The winner of the social space will be agnostic. Whether you get your music from your coworker, your girlfriend, Or even your favorite athlete or celebrity, they might not have the same music service as you. They might have Apple Music, you have Spotify, and s…”
Hyatt: Winning social music platform's moat is celebrity star power
“The winner of the space will have a moat, and the moat is really simple. Who got the stars on and using it?”
Fox: NFL Stars Baker Mayfield and Patrick Mahomes Are Earbuds Investors
“Baker Mayfield invested in our last round. Patrick Mahomes is coming in this round.”
Fox: Earbuds Raised $630K Friends & Family and $1.5M in Previous Rounds
“I raised 630,000 from friends and family, and then last year we raised 1.5.”
Phil Nadel offers $500k in Earbuds at an $8M valuation cap
“I'll do a half a million at eight.”
Fox: Founders should demand investor value-add tradeoffs when asked to lower valuation
“I don't want to negotiate against myself, so when they ask me to lower the valuation, I ask them, well, how else can you help? And I think there's a trade-off there.”
Muccio: Investors stalled and Phil Nadel passed on Earbuds
“Charles, Michael, and Jillian, they still haven't actually given Jason any money. And Phil, well, he already told Jason he's out.”