Here from Jennifer Tsay, founder of Shoott, a platform that helps you find affordable photographers vetted by your local community.
On this episode of Entrepreneur Elevator Pitch, tech entrepreneurs share their grand visions of digital platforms built to fill the needs of businesses and customers alike. But while their two-sided marketplace pitches might sound polished, do these companies have that one thing that all investors crave — profitability?
On this episode of Entrepreneur Elevator Pitch, tech entrepreneurs share their grand visions of digital platforms built to fill the needs of businesses and customers alike. But while their two-sided marketplace pitches might sound polished, do these companies have that one thing that all investors crave — profitability?
Category
🗞
NewsTranscript
00:00Welcome to the elevator.
00:03I'm Jennifer Tsai, the CEO and co-founder of the Professional Photography Marketplace
00:08Shoot With Two Ts.
00:09We all know that nobody wants to pay up front for a service they might not like.
00:13So we built the only platform that offers free personal photo shoots with a professional
00:17photographer where you only have to pay for the photos you want.
00:20We're a source of supplemental income for 700 plus photographers, and we have just achieved
00:24profitability on 8.7 million of sales.
00:27We are looking for 2 million for 10% of shoot common stock so we can continue helping people
00:32look and feel good.
00:35Jennifer, I'm in.
00:37That was great.
00:38You're done?
00:39I was going to slide the check under the elevator door.
00:41You know what the magic words was?
00:43Profitability.
00:44Yes.
00:45I don't know.
00:46Let's take it to a vote.
00:47Are you guys ready?
00:48I'm ready.
00:49I'm ready.
00:50Approved.
00:51I think when you're looking at the valuation that you're putting up, which is high, fine
00:55because you're profitable and you've got $8 million.
00:57But where you're at leaves me uncertainty because your growth does not match the valuation
01:01that you're asking for.
01:03So unfortunately, I'm going to have to pass.
01:05I think it's a great industry, the commercial side and have the corporate side.
01:10I think that they're two completely different industries.
01:12I think it's compelling, but not compelling enough for me to be able to invest.
01:17So with that, I'm just going to have to pass.
01:20I'm getting some funny signals.
01:23And one, of course, is going into the corporate stuff.
01:25I'm afraid, despite my great enthusiasm and appreciation for the business model, I have
01:31to pass.
01:35Sorry we couldn't do more for you.
01:37No problem.
01:38It was a pleasure.
01:41Good luck.