First investment — Together Price
Having been interested in early-stage investing and startups for a while, I have been plagued by missing crowdfunding opportunities like Nabobil (Norwegian marketplace that connects people that needs a car with people that owns a vehicle), Revolut, Monzo and Curve. After browsing and researching companies for a while on Crowdcube the past months, I’m happy to share that I could finally do the closing step of investing in my first crowdfunding project, Together Price.
Together Price’s pitch made it clear to me from the start that they are addressing a real problem that I can relate to. The idea is simple, yet brilliantly executed by fully embracing the sharing economy and addressing the subscription fatigue by offering shareable digital subscription plans, a platform for finding and connecting with reliable sharing mates and easily managing the sharing process. After all, taken from the first sentence in their Crowdcube pitch: “We all love to watch TV shows, play video games and explore new digital services but it’s hard to maintain access to all the content we love.”
Researching a bit further whether this problem extends beyond my perception I found that while the statistics that surround subscription fatigue vary, the hypothesis of Together Price is backed by research from GWI stating that consumers gradually is moving away from traditional TV services to services that are more flexible and has more choices. Further on, in their global research, they found that 69% of U.S. and UK internet users paid for a traditional TV subscription in Q1 2016 compared to 62% in Q1 2019, and around 80 % of internet users in the U.S. and UK paying for at least one subscription per month. Further on, Deloitte’s 13th edition of its annual Digital Media Trends survey showed that close to half (47%) of US consumers are put off by the ever-growing number of subscription services to choose f. That tells us that more options do not equal increased customer satisfaction. Consumers are increasingly frustrated about the administrative and sheer cost of managing multiple services despite an appetite for content, tools, and goods (GlobalWebIndex).
This research well as the B2C business model backed by European investors prompted my interest in Together Price and their way of addressing that problem. Further on the team has a strong software development background with complementary skills with experiences and accomplishments from tech companies like Airbnb and Forbes.
After exceeding their funding goal of €200k just 48 hours after the equity crowdfunding launch and already having affiliate agreements with 10+ tier 1 providers I’m excited to play a tiny part of this company and continue to follow their accelerated growth.
Resources and pitch:
https://www.crowdcube.com/companies/together-price/pitches/qrRE5q
