Everything Ismail Salhi said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Salhi: CDs remained the most gifted music format in 2016
“And 30%, the highest, the most gifted item today, in 2016, wait for it, is still the CD.”
Qleek founder claims they would have raised heavily during NFT boom
“Like, if we would have survived COVID, or if COVID didn't happen, the NFT thing would have happened, and then we would have raised so much money.”
Salhi: Millennials buy vinyl because digital music lacks tangibility
“Millennials are buying vinyls like crazy. Why? Because they never see and touch the content they have and they love.”
Salhi: Qleek's failure caused trauma, required new business to avoid VCs
“The trauma of clique made me think if I have to start a new business, it has to be completely or Very, very independent from VC funding, that we could try it, and if it fails, we'll know it quickly, but if it succeeds, it can fund itself without external, addi…”
Wildgrain capped customer acquisition cost at $60 to break even quickly
“It was 60 dollars. So you, we spend 60 dollars to acquire a customer, and then we don't spend more than that. Even if spending more than that would bring in a lot more customers, we don't, because we want to make sure that we break even in box two.”
Wildgrain reached monthly net profitability at the time of recording
“We are actually turning into profit this month.”
Salhi: Gifting digital content today requires buying CDs or gift cards
“Today, if you want to gift something to someone any content, A podcast that you like a playlist that you love, an artist that you really like. There's no way to do it. You should, you can only buy a CD, or you can buy a gift card.”
Salhi: Bose is leading Qleek's current funding round
“We did a lot of user research with Bose, who is an investor in the company.
Jillian Manus: Oh, are they?
Ismail Salhi: Yes.
Jillian Manus: They're fantastic.
Ismail Salhi: And they are leading this round.”
Salhi: Bose invested $350,000 in Qleek on a $4M valuation cap
“So they put three 50
On a four million cap, a 20% discount a year ago.”
Salhi: Amazon, Audible, and Tidal bought Qleek's NFC products
“We got Amazon. Audible was buying our stuff. We got title to buy our stuff.”
Bold Ventures invested $750,000 into Wildgrain
“Seven 50.”
Wildgrain retained 60% of members 12 months after its initial launch
“It was a year after we launched, so May, 2020, we had, like, 60% of the members still ordering boxes.”
Salhi: Qleek saw a 30% reorder rate on its first production run
“30% of our customers reordered the first time.”
Salhi: Qleek has completely sold out of its hardware players
“All I can say is we ran out of stock for the player, so we can't sell it anymore because we don't have any more units in stock.”
Salhi: Qleek failed because it lacked resources for proper marketing
“We had very enthusiastic customers. We just never marketed that product properly. Never. Because we never had the resources and the opportunity to do so.”
the Pitch 4