High level concept:
Random video chat
Job to be done:
Assumption: Meet new people
Reality: The thrill of having a wild (most often sexual) conversation
Prelaunch assumption: Influencers (Instagram) + word of mouth.
Reality: App store optimization.
Analysis: In retrospect, our lack of strategy around how we were going to grow the app was absurd – we were more or less just hoping people would tell their friends about the app without having any built-in mechanisms that would help enable sharing. However, despite our weak strategy and execution around distribution, we got lucky and wound up with relatively good app store optimization. The app has consistently been in the top three search results for “random video chat” which has led to a consistent flow of 300-700 new users a day.
Post launch: Sell coins that you could use to specify which gender you’d like to chat with
Analysis: I am going off memory, but I believe about 3-4% of users would make a purchase with an average selling price of $8, meaning we were able to make some money. I think we could have done many things that could have increased both of those numbers but ultimately, we knew the only sustainable way to increase revenue would be to work towards having an equal number of males and females on the app (it was 85% male, 15% female). We were unable to do this and that was the main reason we ultimately decided to sell the app.
Pivoting to a gay male dating app would not have been a terrible idea.
Building the app was pretty straightforward, however, we did anticipate increased technical difficulty if we reached a greater scale.
I think random video chat is a well-established niche where fun products can be made. That being said, I believe that growing the product beyond random video chat will be incredibly challenging. If anyone can do this my bet is on Holla/Monkey.