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POSH 🎟

you’re invited

setting the scene

  • you’re planning the ultimate party, so you rent out a venue and draft an invite
  • you text the invite to 100+ people, and all you get is a few maybe’s πŸ˜”
    • was it the lack of customization? maybe people want to see the invite list before committing? πŸ€”
  • to get a few extra attendees, you are left with no choice but to start a rumor that Drake is performing 🀦🏼
  • this week’s company provides the all-in-one platform to help hosts plan and promote their events

in a sentence

POSH is an online events platform that provides tools for hosts to curate events and guests to discover new experiences

  • tools: create a custom homepage, sell tickets, process payments, manage a guest list, book a venue, hire event staff, and send out SMS blasts
  • events: weddings, company events, or even frat parties
  • discover: find new events and see the Instagrams handles of other attendees

bulleted version: POSH is like a no-code website builder for events, providing a clean splash page and easy-to-use back end management tools🌐

the basics

sponsored by 

  • founders know that building an app is no easy task, but Techstars-backed startup, Apsy, is innovating how apps are built through their AI platform
  • Apsy has quickly acquired their first 40 customers, generated $0.5M in revenue in their first year, and will be rolling out a new platform that walks users through building an app via verbal conversation
  • Apsy is raising their $2M seed round (with more than half already complete) and running a crowdfunding campaign as well; this is a company worth paying attention to

due diligence

what we like

  • πŸ“ˆ an eventful market: the concert and events market size is expected to grow to $400b by 2027
    • with an engaging and comprehensive solution to event planning, POSH has potential to win market share
  • πŸ™Œ all inclusive: the platform is for anyone trying to plan or attend an event
    • plus, a future gig economy will involve curators, venues, artists, and event staff on the platform
  • πŸ—£ social: features like the Kickback program, where attendees earn money by bringing friends, and Instagram integrations allow POSH to facilitates attendee relationships and creates loyal customers

potential risks

  • πŸ’² one-sided revenue: POSH currently only monetizes on the attendee side
    • while making the platform free for curators gets users onto the platform, POSH may be missing out on additional revenue
  • 🎯 target user? POSH targets all types of event curators, but simpler events may not need the comprehensive planning toolkit, and high-profile venues likely advertise and plan in-house
  • πŸ•΅πŸ½β€β™€οΈ privacy: giving attendees access to the Instagram handles of other guests may bring up privacy concerns

founder profiles

comps

why POSH: POSH has punched its ticket into the big leagues, already having serviced huge events and sold 500,000 tickets; this company certainly belongs on our VIP list πŸŽ‰

so…what do you think?

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