Wittig: Hornet raised an $8M Series A on top of $1M in angel funding
Christoph Wittig · EP 606: Hornet Raises $8M to Become Gay Content Hub, 17M Users, 3M MAU with CEO Christof Wittig · Mar 22, 2017 · at 9:02
Christoph Wittig, CEO of Hornet, breaks down the platform's historical funding rounds.
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“So we raised another our series A effectively of eight million dollars. We announced that in November and that's on top of the original one million dollar in angel money, which we raised back in 2011 and 12”
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More from Christoph Wittig
Wittig: Hornet has the largest gay media newsroom in the US
“In fact, Hornet has the largest gay media newsroom in the United States now, headed up by Stephen Horbitt, the former chief editor of Frontiers Magazine here in LA, who is now heading up our content team.”
Hornet Reached #2 Gay App Globally With Zero Marketing Spend
“We are now number two worldwide, which means we're number one in many key markets, such as France Brazil, Mexico, Turkey, Russia, even Taiwan, Thailand, everywhere. And we have up to Q three this year, never spent a cent on marketing.”
Wittig: Hornet generates two-thirds of revenue from subscriptions, one-third from ads
“Subscription is about two thirds and advertising is one third today”
Wittig: Hornet operated at break-even from 2013 to late 2016
“When Hornet was under the leadership of Sean we focused on breaking even, which we did from 2013 till basically last quarter.”
Wittig: Hornet has 3M MAUs and 1M to 1.5M DAUs
“A total of three million monthly actives and about one to one and a half million daily active, again, depending on the day of the week.”
Wittig: Hornet's published ad pricing is $15 CPM
“So our published prices are 15 dollars CPM, so they are quite you know, significantly more targeting or allow people to target better, hence, you know, more premium pricing, and that can be even more premium if you add additional targeting options we provide, …”