Racket

Racket is a social audio platform designed for creating and sharing short audio clips of up to nine minutes. Founded in 2021 by serial entrepreneurs Sima Sistani and Mike Mignano, the company aimed to provide a space for quick, authentic audio conversations, contrasting with longer-form podcasting platforms. Both founders brought extensive experience from the tech and media industries; Sistani was an executive at Houseparty and Epic Games, while Mignano co-founded Anchor and served as the head of podcasting at Spotify after its acquisition. Their vision for Racket was to make audio creation as simple as sending a text message, targeting creators who wanted a low-effort way to produce content.

The platform allowed users to record their voice, invite guests for conversations, and then share the resulting 'racket' on the platform and other social media sites. Racket positioned itself as a tool for more spontaneous and less polished audio content, a niche it hoped would attract a wide user base. The business model was centered on building a community of creators and listeners, with potential monetization through advertising or premium features in the future. It served a market interested in creator tools and new social media formats.

However, after its initial launch and securing a pre-seed funding round, Racket announced it would be shutting down on July 29, 2022. The founders communicated that despite their efforts, they could not find a sustainable path forward for the business.

Keywords: social audio, short-form audio, audio creation, creator platform, audio content, social media, voice recording, podcasting alternative, community building, mobile app