Streo
Where spontaneous conversations happen.
| Date | Investors | Amount | Round |
|---|---|---|---|
* | N/A | $730k | Seed |
| Total Funding | 000k | ||
| USD | 2022 | 2023 |
|---|---|---|
| Revenues | 0000 | 0000 |
| % growth | - | 40 % |
| EBITDA | 0000 | 0000 |
| Profit | 0000 | 0000 |
| EV | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 |
Source: Dealroom estimates
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Stereo positions itself in the social audio market as a platform for spontaneous, real-time conversations. Founded in 2020 by Arthur Nugumanov, a former member of the mobile product division at MagicLab, the company is backed by notable entrepreneur Andrey Andreev, the founder of Badoo and a founding partner at Bumble. Based in the United Kingdom, Stereo App Ltd launched its service to facilitate live, unfiltered discussions, aiming to connect users through voice and reduce the emphasis on physical appearance by using customizable animated avatars.
The platform enables users to start or join live audio broadcasts, described as real-time podcasts, on a wide range of topics from pop culture and sports to news and comedy. Users can participate as listeners or request to join the conversation on a virtual stage. In addition to long-form talks, the app features "Soundbites," which are short 15-second audio clips that allow users to post quick takes on various subjects. This dual format caters to both in-depth discussions and brief, engaging interactions. The service is available on both iOS and Android devices and, unlike some early competitors like Clubhouse, does not require an invitation to join.
The company's business model appears to be focused on creator monetization. Stereo introduced a Beta Creator Fund to pay users for their content, suggesting a strategy to build a strong creator base and encourage consistent engagement on the platform. Users could also receive donations from listeners who enjoyed their content. The platform has attracted influencers and celebrities, who use it to engage with their fanbase through live talks and Q&A sessions. Financially, the company is registered as a seed-stage startup and secured $731K in a funding round on October 12, 2022.
Keywords: social audio, live conversation, audio-based social network, real-time podcast, voice chat, creator monetization, creator fund, spontaneous talk, avatar social media, soundbites, live streaming audio, Andrey Andreev, Arthur Nugumanov, Clubhouse competitor, online discussion, community engagement, digital broadcasting, interactive audio, social entertainment, voice notes