The Naked Truth 2009 Slides: Show Me The Money
Taking place tonight in Seattle is The Naked Truth 2009, a Redfin-hosted conference to give entrepreneurs advice. Michael is there participating as an expert to discuss industry trends. This year’s topic is revenue models for consumer Internet startups. The four presenting startups, Redfin, UrbanSpoon, Picnik and Animoto have some interesting information to share via their slides, which we’re posting below, pointing out a few of the highlights.
For those who want to follow along live, you can find the video of the event here.
First up, restaurant recommendation service UrbanSpoon, which was recently bought by IAC. Some highlights of their slide:
- Of their visitors on the web, 74% come from Google.
- Of their visitors through mobile devices, 99% come through the iPhone (they have one of the more popular apps).
- They’re seeing more than double the revenue off of those mobile users versus web users.
- When they were featured in an iPhone commercial, they saw 300% growth.
Next up, online imaging editing service, Picnik (which has a partnership with Yahoo to edit Flickr pictures).
- 80% of their revenues come from paid subscriptions, the other 20% from advertising.
- About half of their subscribers do so on the first visit to the site, 75% of those do within 4 visits.
- “Partnerships are not nirvana” — obviously a shot at Yahoo.
Video slideshow maker Animoto (which recently raised a new round of funding):
- They have 700 paid users per 100,000 users, but are already cash-flow positive with that.
- They say their hybrid model (freemium + virtual goods) is working
And finally, online real estate company, Redfin: