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Making Money $10million for FOODSPOTTING
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Nemencine Away
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$10million for FOODSPOTTING
I just saw this for the first time today while watching a show called "young entrepreneurs".

Yes, some asian chick that likes food managed to get a bunch of 10 people to write apps that let random people share photos of food that they are eating/like. She then turned around and sold the app for $10million in raw cash.

Apparently, the deal was done in february 2013.

She started 4 or 3.5 years ago. You are reading that correctly. She sold it earlier this year for $10million in cash. Yes, you are reading that correctly too: $10million in raw cash.

(RVF is 5 years old. What were you doing 4 or 5 years ago? why arent you or I, a millionaire yet? What is our excuse?)





She is not even a chef! So many people are chefs and not one of them came up with this idea!

I send this video to a friend of mine that has a kick arse blog on microbrewing. With a simple line: what the bloody fuck are you waiting for?

Yes, i also send it to some of my female friends that are into shoes/fashion....with a similar message:when are you going to do the same for ladies shoes and become a multimillionaire?

You can apply this idea/concept to a bunch of stuff. (or you can whine about fat western chicks that like food/iphone/selfies too much.)

Let me finish with:



.
.
GO GET THEM!
.

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A year from now you will wish you had started today.....May fortune favours the bold.
08-26-2013 01:33 AM
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RE: $10million for FOODSPOTTING


08-26-2013 02:03 AM
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WestIndianArchie Offline
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Post: #3
RE: $10million for FOODSPOTTING
I been saying that we need to profit from the hamster.

WIA
08-26-2013 05:32 AM
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Nemencine Away
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Post: #4
RE: $10million for FOODSPOTTING
YMG and WIA.

Hahaha. basically, sarah blakely became a billionaire by inventing a product that makes women hamsterize their fatness away! That is it in a nutshell. Let us keep it real.

Alexa from foodspotting merely combine the female need to take selfies + food into a $10million cash payday. Over-sharing + food eating. that was her game plan.

Yes, WIA...we have forums fill with experts on the female hamsters and none of them have find a single fracking way to make a red, bloody cent exploiting females for there hamsters!

Since action speaks louder than words, the only rough guideline i can come up with right now:

Step #1.
I guess the first place to start is to brainstorm a list of female hamsterizations. The more pernicious the better. Create a list of female hamsters.

Step #2:
Make a 2nd list of social habits that feeds the hamster.

Step #3:
Make a 3rd list of current technologies or technological habits that will amplify the hamster(s) to level 10. If the technology or product doesnt exist, imagine it. (that was how sarah blakely came up with spandex)

step #4:
combine the content of the three lists. Mix-match. Permutations. or even better yet, think of a product that will make it worse, and worst! use your devious expert mind on the female hamster to answer the question: what will put this hamster on steroids?

Basically, game plan is: hamster + social habits + [b]product-that-makes-hamster-worse. = cha ching! Money maker! If the product/technology doesnt exist, invent it.(sarah blakely did!)[/b]

step #5.
Go field test and try to make some money.

May the darkside rewards you.
.

.
A year from now you will wish you had started today.....May fortune favours the bold.
08-26-2013 07:54 AM
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Stark Naked Offline
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Post: #5
RE: $10million for FOODSPOTTING
Sadly, I'm afraid the bubble is about to burst when it comes to social media companies. Not that people will stop using social media, but websites and apps of this nature are selling for exorbitant amounts of money, but not a lot of growth potential. There are only so many phone owners who can download a certain app - enough to keep a small operation in business, but certainly not showing the ridiculous growth profit-wise corporate stockholders expect. Social media is (and has been) extremely popular, so of course big name corporations are jumping on the bandwagon, buying up apps and websites without thinking of what they're going to do with them.

Step 1: Collect underpants.
Step 2: ???
Step 3: Profit.

Just follow any large corporation on Twitter or Facebook - nobody in the corporate world knows how to use them beyond awful, impersonal advertising, and everyone just comments and tweets negative things about them. Couple that with the inevitable retooling of a site that doesn't need it - FOX buying out Myspace, anyone? - and users will begin to flock to the next new thing. Soon Corporate America will be wise to the fact that they can't make huge profits off of apps and social media, and it'll be the 2000 dot-com fiasco all over again.
(This post was last modified: 08-26-2013 10:12 AM by Stark Naked.)
08-26-2013 09:31 AM
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Post: #6
RE: $10million for FOODSPOTTING
It seems its only apps and shit for the american market that get bought up. The bubble will burst, but why not try to cash in?

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08-26-2013 10:23 AM
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RE: $10million for FOODSPOTTING
08-26-2013 10:46 AM
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Post: #8
RE: $10million for FOODSPOTTING
I'll caveat this by saying I haven't tried the app, but it actually sounds really useful have an aggregate source of reviews on specific dishes at restaurants.
08-26-2013 01:50 PM
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Post: #9
RE: $10million for FOODSPOTTING
I really don't understand these social media apps, but anyone who can find a way to monetize female attention whoring will certainly make a lot of money.

"For I reckon that the sufferings of this present time are not worthy to be compared with the glory which shall be revealed in us.” - Romans 8:18
08-26-2013 02:00 PM
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SVK Offline
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Post: #10
RE: $10million for FOODSPOTTING
Yeah, employing the hamster has produced more than few huge success stories recently:

Pinterest - over 97% female. More than 70 mil users. Not sure about money, but with that userbase it's gotta be worth at least a bil looking at recent similar sales. Huge potential for profit marketing actual products women will buy.

Instagram: king of selfies. About 65 to 35 female/male ratio. Sold to Facebook for a cool 1 bil

Tumblr: More or less even gender ratio, but great for attention whoring and general hamsterization. Sold to Yahoo for even cooler 1.1 bil

My new favorite - Candy Crush Saga - fecebook and mobile game. Extremely fiendish freemium model designed to extract as much money as possible. Tight facebook integartion. Rakes in $663,000 a DAY. Graphic design clearly geared towards women. Suspect at least 7:3 F/M ratio, but bet in actual dollar spent value it's women who spend lot more than men. Nicely done, but nothing a small team couldn't develop in a month or two.

http://www.huffingtonpost.com/2013/07/08...61658.html


But these are the success stories. There are many other social websites, apps, games, startups, etc. that are still good but have almost no userbase and are losing money or barely break even. Still, there is room for excellent opportunities here. But you need a great NEW idea (or at least very good improvement on existing ones), impeccable execution, excellent marketing and a good dose of luck...
08-26-2013 04:21 PM
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Post: #11
RE: $10million for FOODSPOTTING
Any app that involves women and get attention for themselves is a potential killer app.

Two ideas I just thought of in 5 minutes:

My Awesome Baby App (potential name Babyn.Me) - An app that allows mothers to share photos of their babies and themselves along with parenting tips, coupons for baby things, local events for mothers etc.

Wardrobe Share App (potential name Fashion.St) - An app where women upload photos of themselves wearing clothes and other users rate them and earn points. The person with the most points each week is made famous in the App. Points can also earn them prizes. Maybe a way to suggest an outfit based on keywords. App could be a deal aggregator for clothing stores and deals.
(This post was last modified: 08-27-2013 01:09 AM by username.)
08-27-2013 01:08 AM
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RE: $10million for FOODSPOTTING
-

A lot of you guys are being semi ironic but if we keep posting ideas then one of these will turn someone into a millionaire if he executes upon it.

-
08-27-2013 01:17 AM
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Post: #13
RE: $10million for FOODSPOTTING
Not only do I rustle cattle, but I also rustle ideas.

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08-27-2013 01:21 AM
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Post: #14
RE: $10million for FOODSPOTTING
@stark naked, @ void @ scorpion @aliblahba

bubble or not. bursting or not. this is the economic nature of the world we live in...either it is dotcom or housing or solar/china or green energy tech or gold or bitcoin or QE3 or fresh, young slampieces. The name of the game is in-and-out before expiration date. Bulls make money, bears make money, and pigs get slaughtered.
you can go zerohedge with all the doom and gloom prediction or you can ride the gravy train and jump off before it collapses.


@nmooreland @ svk

thanks for the breakdown. especially the detailed commentary by svk. again, the pattern seems to be:

hamster + social habits + product(that feeds the hamster) = ka ching!

Of course, it is better to try and fail and learn a bunch of stuff in the process than to never try at all.


@username @ YMG

I just have to smile at the two of you. good work. nicely done. again, the formula seems to be:

hamster + social habits + product(that feeds the hamster) = potential money maker.

Ironic, semi-ironic or not. This is the ridiculous nature of the times we live in. As an experiment, i did a quick google search for "happiness apps"...while most are free....after a couple of minutes later i found some that sell for $1.99 and had a couple thousands download already...just an app with stupid words and pictures to tell women how great and awesome they are. can you fracking believe that shite? Empty calories.

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08-27-2013 04:05 AM
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Nemencine Away
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Post: #15
RE: $10million for FOODSPOTTING
@USERNAME @ YMG.

okay, i accept the challenge. Here is my best shot for now:

Girls Night Out App(potential name G-SPOT.me). - An app that allows Girls to know which random bars around them is letting girls in without cover or with reduced cover charges(and by how much and for how long into the night). Also, which bars/clubs has drinks at reduced prize for the ladies during the night....promotional tie-ins for clubs/bars...If a girl shows the bar/club promotional code on the App and bring 5 friends or more, they get even cheaper alcohol...further increasing foot traffic into bars/clubs...etc.

Here is another one:

Sexy and Fierce App(SAZZY.me)- An app that allows girls to upload time-lapsed photos of themselves applying their makeup. The girls with the best "transformation" wins. The girls will be rated. The best "transformation" wins discount from cosmetic departments. Of course, promotionals by cosmetics department, etc. Website will link to youtube videos...

Even better: is to have random girls upload pictures of themseves WITHOUT MAKEUP...and have the internet aggregrate virtually apply and re-do their faces with makeup. Girls can work in teams or alone. I can see how girls will think this is a fun game to play. They will do a style transformation for the girl from makeup to hair styling...and the finished handiwork will be rated...1st, 2nd, 3rd place will win prizes. Both the "artist" and the "model". Feeding into that tv show about transforming girls appearances. There will be cosmetic departments promotions and tie-in of course.


THIS CONCLUDES ROUND ONE of "profiting from the hamster"....the floor is yours, i want to see what next you will come up with.


(08-27-2013 01:08 AM)username Wrote:  Any app that involves women and get attention for themselves is a potential killer app.

Two ideas I just thought of in 5 minutes:

My Awesome Baby App (potential name Babyn.Me) - An app that allows mothers to share photos of their babies and themselves along with parenting tips, coupons for baby things, local events for mothers etc.

Wardrobe Share App (potential name Fashion.St) - An app where women upload photos of themselves wearing clothes and other users rate them and earn points. The person with the most points each week is made famous in the App. Points can also earn them prizes. Maybe a way to suggest an outfit based on keywords. App could be a deal aggregator for clothing stores and deals.

.
A year from now you will wish you had started today.....May fortune favours the bold.
08-27-2013 05:14 AM
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samsamsam Offline
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Post: #16
RE: $10million for FOODSPOTTING
Nemencine, great ideas would be careful posting them here. Someone might steal them! How much do you think those apps would cost to make and set up?

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08-30-2013 02:30 PM
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Dr. Howard Away
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Post: #17
RE: $10million for FOODSPOTTING
(08-30-2013 02:30 PM)samsamsam Wrote:  Nemencine, great ideas would be careful posting them here. Someone might steal them! How much do you think those apps would cost to make and set up?

I know someone that is spending 30 grand for one.

Why do the heathen rage and the people imagine a vain thing? Psalm 2:1 KJV
09-03-2013 07:20 AM
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Architekt Offline
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Post: #18
RE: $10million for FOODSPOTTING
(09-03-2013 07:20 AM)wiscanada Wrote:  30 grand for one.

What could conceivably cost that much to develop and run on a phone?
09-03-2013 07:30 AM
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Dr. Howard Away
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RE: $10million for FOODSPOTTING
There is money to be made but the women's business is frustrating as shit. Double to triple what you would spend in a normal business in design and marketing. Its also worthwhile to recruit a successful 'woman owned business consultant' who is completely aware of the counter intuitive nature of the business, but be prepared to pay twice what you think normal business advice would be worth.

I've worked with 3 such businesses. 2 are doing well and 1 flopped. Cashing in on the hamster is possible if you take the same mindset as a woman who wanted to sell video games without a political agenda and realize that you aren't a credible expert or face for your audience.

Why do the heathen rage and the people imagine a vain thing? Psalm 2:1 KJV
09-03-2013 07:31 AM
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Nemencine Away
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Post: #20
RE: $10million for FOODSPOTTING
I just stumbled upon this buried thread by "snowflake" today: It is the story of Julien Chabbott running over a police officer's foot with his ferrarri 458. The lad created "line snob" app and hits the market in 2010...two years afterwards, 2012, he is driving a brand new ferrarri 458 and fucking stephanie pratt.

In two, bloody fucking years. TWO! I re-iterate that: TWO!! (what will you be doing in two years? where will you be in two years?)

His stupid idea? the LINE SNOB.

The lad in question looks like a skinnier, faggotty version of ROOSH clone:

[Image: Julien-Chabbott-Rose-Bar-Gramercy-Park-Hotel-NY.png]


His car? brand new ferrarri 458:

[Image: drive-a-ferrari-458-italia.jpg]

His bitch? stephanie pratt. IRT will be jealous! hehehe.

[Image: stephanie-pratt-profile.jpg]

another picture: 2/10 WNB. hahahahaha!

[Image: Stephanie+Prat+E+Television+20th+Birthda...NRG1Al.jpg]

(08-30-2013 02:30 PM)samsamsam Wrote:  Nemencine, great ideas would be careful posting them here. Someone might steal them! How much do you think those apps would cost to make and set up?


(08-26-2013 04:21 PM)SVK Wrote:  Yeah, employing the hamster has produced more than few huge success stories recently:

Pinterest - over 97% female. More than 70 mil users. Not sure about money, but with that userbase it's gotta be worth at least a bil looking at recent similar sales. Huge potential for profit marketing actual products women will buy.

Instagram: king of selfies. About 65 to 35 female/male ratio. Sold to Facebook for a cool 1 bil

Tumblr: More or less even gender ratio, but great for attention whoring and general hamsterization. Sold to Yahoo for even cooler 1.1 bil

My new favorite - Candy Crush Saga - fecebook and mobile game. Extremely fiendish freemium model designed to extract as much money as possible. Tight facebook integartion. Rakes in $663,000 a DAY. Graphic design clearly geared towards women. Suspect at least 7:3 F/M ratio, but bet in actual dollar spent value it's women who spend lot more than men. Nicely done, but nothing a small team couldn't develop in a month or two.

http://www.huffingtonpost.com/2013/07/08...61658.html


But these are the success stories. There are many other social websites, apps, games, startups, etc. that are still good but have almost no userbase and are losing money or barely break even. Still, there is room for excellent opportunities here. But you need a great NEW idea (or at least very good improvement on existing ones), impeccable execution, excellent marketing and a good dose of luck...


(09-03-2013 07:31 AM)wiscanada Wrote:  There is money to be made but the women's business is frustrating as shit. Double to triple what you would spend in a normal business in design and marketing. Its also worthwhile to recruit a successful 'woman owned business consultant' who is completely aware of the counter intuitive nature of the business, but be prepared to pay twice what you think normal business advice would be worth.

I've worked with 3 such businesses. 2 are doing well and 1 flopped. Cashing in on the hamster is possible if you take the same mindset as a woman who wanted to sell video games without a political agenda and realize that you aren't a credible expert or face for your audience.

.
A year from now you will wish you had started today.....May fortune favours the bold.
(This post was last modified: 09-17-2013 11:32 PM by Nemencine.)
09-17-2013 11:30 PM
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Post: #21
RE: $10million for FOODSPOTTING
Nemencine,

Question for all your app ideas, whether it's this one or the meal plan idea... How do you get people to know about it and use it? Tougher than making the app is the process in going from 0 users to 1000. No chick wants to attention whore if nobody is looking at her.
09-21-2013 06:48 AM
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Post: #22
RE: $10million for FOODSPOTTING
(09-03-2013 07:30 AM)Architekt Wrote:  
(09-03-2013 07:20 AM)wiscanada Wrote:  30 grand for one.

What could conceivably cost that much to develop and run on a phone?

Hiring someone like mobomo.com to do a lot of the coding could get expensive. And for every app idea somebody thinks of, chances are someone else is already pushing it in the app store. The question is how can you make yours better, or at least more likely to sell better?
(This post was last modified: 08-26-2014 12:53 PM by Jack198.)
08-26-2014 12:07 PM
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Nemencine Away
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Post: #23
RE: $10million for FOODSPOTTING
^^^

Jack198,

I see that you bumped this thread from last year.... Back then (august, 2013,) some RVF posters were talking about the impending bubble burst of social media... a year hence... now we are in august 2014, the social media is still alive and kicking strong. Hahaha.

Today, in the everything else section of RVF, Tuthmosis created a thread mocking and ridiculing 5 nerdy chemists date rape drug detection. That's fun, i guess. I understand the sentiments in this climate of bogus false rape crap. Still, in my mind all i see is this pattern:

hamster + social habits + technology(that amplifies the hamster) = money maker.

The hamster here = false rape victimization complex.

social habits = drinking, clubbing, etc.

technology = date rape drug detection.

Like i mentioned last year on this very thread--exactly a year ago in fact (26th, august, 2013),-- this pattern is what made sarah blakely a billionaire. This is the same pattern with apps like "foodspotting" or "candycrush" or "twitter" or any such crap with their ridiculous valuations.

(08-26-2013 07:54 AM)Nemencine Wrote:  .....Hahaha. basically, sarah blakely became a billionaire by inventing a product that makes women hamsterize their fatness away! That is it in a nutshell....

Step #1.
The first place to start is to brainstorm a list of female hamsterizations. The more pernicious the better. Create a list of female hamsters.

Step #2:
Make a 2nd list of social habits that feeds the hamster.

Step #3:
Make a 3rd list of current technologies or technological habits that will amplify the hamster(s) to level 10.....

step #4:
combine the content of the three lists. Mix-match. Permutations. use your devious expert mind on the female hamster to answer the question: what will put this hamster on steroids?

Basically, game plan is: hamster + social habits + product-that-makes-hamster-worse. = cha ching! Money maker!....

step #5.
Go field test and try to make some money.

May the darkside rewards you.
.

I remember doing a little google research on "happiness apps", ...basically an app that tell women "inspiration stupid shite" to make them feel better; there was one with thousands of download even though all it does is tell woman how awesome they are.

(08-27-2013 04:05 AM)Nemencine Wrote:  ....
Ironic, semi-ironic or not. This is the ridiculous nature of the times we live in. As an experiment, i did a quick google search for "happiness apps"...while most are free....after a couple of minutes later i found some that sell for $1.99 and had a couple thousands download already...just an app with stupid words and pictures to tell women how great and awesome they are. can you fracking believe that shite? Empty calories.


Hey, if the decline is coming as some say... as a true capitalist, while not make a quid or buck off it? Don't blame the player, blame the game.

regards,

Nemencine

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08-26-2014 09:48 PM
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Post: #24
RE: $10million for FOODSPOTTING
Yeah but the question is how much the founders really got out of this deal.

According to the comments on the article the founders had $3.75mm in funding. Another commenter writers:

"Founders didn't make anything. To them it was clearly not about the money but stability and keeping the app alive with the right partner. They will all receive 6 figure salaries, bonuses and perhaps some open table stock options. Ten million mostly went to VC's who returned their multiple at 2x under one year. Not a bad return considering the time frame."

http://techcrunch.com/2013/01/29/foodspo...ble-video/

I have no idea if that is true or not, but it's something to consider. It really depends on the conditions when one takes VC money.
(This post was last modified: 08-27-2014 02:31 AM by Ice.)
08-27-2014 02:30 AM
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Post: #25
RE: $10million for FOODSPOTTING
Very likely. A 2x return is far from a home run in the venture backed startup world and the investors likely got the majority of that.

If you want to get rich, look outside the venture backed world. Way too much smart money in the game. Not only are the odds of success stacked against a startup, the odds of making a significant return as a founder are even smaller in the case of an exit.
08-27-2014 11:09 AM
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