Prediction Not checkable as stated
Wochit could break $30 million in revenue in 2018
“When I say not so far away, it could be this year.”
Insight
Ginzberg: SMB video tools must sacrifice brand customization for simplicity
“When you target SMBs, you need to provide them with a tool that is that simple so that they can actually use it. Which means by that simple means that your ability to build something which is literally on your brand is close to zero. So it's mostly based on te…”
Insight
Ginzberg: Simple pricing accelerates customer expansion by reducing decision friction
“There's something about the simplicity of our model that is, is very unique, you know, because eventually, you know simple pricing model goes a long way. And when you try to add accesses and criterias and other stuff, it makes things more complex and makes you…”
Disclosure
Wochit enterprise contracts range from $50,000 to nearly $1 million
“And usually our clients commit to a certain volume of production, so it could be that they pay on an annual basis anywhere from 50 grand, but it can go up to close to a million.”
Assertion Supported
Wochit has raised $29M in total venture capital
“We've raised we had a few rounds ever since. We've raised a total of 29.”
Assertion Not checkable as stated
Wochit's ARR is currently north of $10 million
“North of 10.”
Disclosure
Gannett is one of Wochit's largest enterprise clients
“One of our biggest clients is Gannett you know, the owner of USA Today and probably a 140 other properties across the U.S.,”
Disclosure
Media clients ProSieben and SPH later became investors in Wochit
“No, they never invested, although, by the way, other clients of ours did invest, such as ProSieben or SPH and others, which are clients of ours, and they've invested later on.”
Assertion Not checkable as stated
Wochit is growing revenue at around 100% year-over-year
“Around a hundred.”
Assertion Not checkable as stated
Wochit maintains net negative revenue churn via client expansions
“I can also, I only tell you that we have what it was called the negative churn. Which means eventually we grow like it's we, not only do we keep our clients, we have expansions.”
Assertion Not checkable as stated
Wochit expands horizontally across enterprise brands and internal teams
“In most cases, they expand vertically horizontally. So let's say no different teams started to use the platform. So you find yourself in, in, in a situation where either they have multiple brands you know, it's a big enterprise. It has multiple brands. One bra…”
Assertion Not checkable as stated
Wochit generates more enterprise leads than it can currently handle
“So honestly, and very luckily today, as I said, we have more leads than we can take.”
Assertion Supported
Ginzberg: Wochit partners with Getty, AFP, Reuters, and AP for raw footage
“So we, you know, teamed up with the likes of Kitty and AFP and Reuters and AP and then, and so many others to have basically solved two problems.”
Assertion Not checkable as stated
Ginzberg: Wochit turns stories into videos within about 10 minutes
“You put all these togethers, automation, creative control content into one platform that basically enables you to turn a story into a video within about 10 minutes.”
Disclosure
Ginzberg: Wochit sells top-down primarily to large enterprise clients
“Yeah, I would say top down, mostly with the big with the big guys.”
Assertion Supported
Wochit raised a $1M seed round from outside investors
“It wasn't for me and my co-founder, it wasn't the first company, so we had some of our own cash, so we put some of our own cash, but did get, you know, a first million from a seed investor.”
Assertion Supported
Wochit employs approximately 60 people
“We're a group of about 60.”
Assertion Not checkable as stated
Wochit serves hundreds of enterprise clients
“Hundreds, and it's all enterprise clients.”
Disclosure
Wochit avoids long-tail creators to focus exclusively on enterprise clients
“It's mostly enterprise, I say. Every once in a while, there's something like that, but we do not put a lot of focus on, on the community of so to speak, the longer tail. It's mostly enterprise.”
Disclosure
Wochit spends very little on paid media advertising
“So we don't spend, truly, we don't spend a lot on, on media. Very, very little.”
