We're going to begin with two pitches from our summer founder's alumni. The first summer founder is Sam gets with his start up called Stemmer, Sam. Which come on up. Thank you. Vince Stem is the easiest way for amateur musicians to make their songs sound professional, like what you hear on the radio. This is a big deal because 100,000 songs are published on to Spotify every day. And all this growth that's happening is because music has been democratized with technology, meaning everybody can make music and everybody is making music like our customer. Tony, Tony has a deep desire to become a professional artist. So he'll record a song at home in his bedroom. But Tony notices that his song doesn't sound very professional And he finds out that there's a process called mixing where he needs to add effects and filters to each layer of his song to make it sound pro effects like auto tune or echoes. There's a problem. Tony, oops. Tony struggles to mix his song, but Tony's desire to become a professional artist is so deep that he's going to do what he can to overcome this problem. He'll spend years learning how to mix. Maybe going to college for it like I did for a year. But mixing is so hard that that doesn't work. So he hires an independent contractor to mix his song. But that audio engineer he finds on line one production software, Tony uses another one. These softwares don't mesh and it's a big frustration. Thankfully, Tony finds Stemmer, the easiest way to mix his song stem is so easy for Tony because no matter what music project software he uses, he can just drag and drop it right onto our website because Stemmer works with every music production software. After that, our AI bot pre processes and organizes his song so that our human audio engineers can finish mixing his song and he gets it back in 48 H. He's happy are 100 other customers. This chart starts when Stemmer first went viral on Tiktok in December. And revenue has been growing, although it dipped in July, And I talked to some colleagues in the creative industry, it seemed like it dipped for everybody, likely due to summer vacations. But besides our revenue traction, the market sees our potential. Stemmer was a semi finalist at an international music tech competition in Los Angeles. I'm very grateful. Horn sees our potential and has funded tens of thousands of dollars to Stemmer, and the Internet loves us. We go viral regularly on Tiktok and Instagram. This next 12 months, my goal is to generate $100,000 in revenue, which is what my team can currently handle as we grow and optimize this business. The goal, we could serve 30 million in revenue a year, which is just a small part of this total market. Which if you take all the songs made every day times our lowest price point, it's $4,000,000,000 and that tams going to quadruple in two years. This is a real market with real companies trying to solve Tony's problem. These first two start ups on the left are fully automated. I mixing softwares, Stemmer used to be a fully automated AI based mixing system, but I found that our artists wanted a human to finish customizing their song and handle the very minute details. So that's why we pivoted this start up engine ears towards the end is a marketplace, one of many that connects artists to audio engineers. But Stemmer is the easiest way for artists to sound professional because we're compatible with every music software straightforward business model. Our prices started at $100 per song. I tested out running subscriptions, but we actually make more money charging per song. Half of the revenue goes to the audio engineers who mix the song, which I plan to reduce by further automating our operations. I've formally studied every type of engineering there is, including audio engineering. And I started the music production club at U D. Our engineer is incredible. His name is Lore and he works with plenty of A list, celebrity artists. He likes working with Stemmer because he doesn't have to deal with the artist, just give him work to do and he does it. We deal with the artist. Although Stemmer is growing and there's a lot of potential, I need some marketing help. It seems like we get a good, healthy amount of traffic on the average day. A lot of people opt into the e mail list, but the sales aren't there. Only 0.5% of all website visitors convert to a purchase. So I'm looking for somebody to come to my table after this who likes marketing, especially digital marketing. And maybe discuss these numbers with me and help me, for everybody else, come to my table and take a listen to how can transform a song.

2023 Summer Founders Sam Goetz

From Andrew Brett August 30, 2023

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Sam Goetz pitches his company, Stemmer, during the 2023 Summer Founders Demoday on August 17, 2023.

The Summer Founders program is a 12-week program designed for students with early stage startups to work on their ventures and receive a stipend, mentorship and education sessions.

Tags: udelhornventure development center

Department Name: Horn Entrepreneurship
Date Established: August 30, 2023
Appears In: Horn Entrepreneurship Events

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