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People love with their ears: Podchaser podcast database raises $4 million

Wednesday, January 20, 2021

Startup Jedi

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The podcast industry is growing and evolving quite rapidly. Both the number of listeners and the amount of content consumed are growing weekly. At the same time, the numbers and growth rates of advertising revenue are not lagging behind. Recently, it was reported that Apple, one of the market leaders, is discussing the launch of a paid podcast subscription service, which will allow it to maintain its position in competition with Spotify and Amazon.

The increased interest in podcasts during the pandemic as well as the age difference of its target audience, cannot be ignored. According to the study, podcasts are one of Gen Z’s favorite entertainment.

American startup Podchaser raised $4 million of investments, the venture capital fund Greycroft was the lead investor of the round. The project is called the analogue of IMDB for podcasts: the platform consolidates information about podcasts, allows them to rate and share their assessment. The startup’s CEO Bradley Davis calls the project the “podcast geek community.” As he said, he was surprised to learn that no one had done this before. He found the co-founder, by the way, on Reddit, simply by asking who wants to start a company with him.

The audience of the project has grown 3 times over the past year, and the total number of podcasts on the platform is 8.5 million. The founders see their mission as helping people to understand and navigate the growing amount of content, and in the process to select the most interesting for themselves. According to a representative of a lead investor, the development of a startup will take the podcast industry to a new level.

20 Jan 2021

 

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