1. How long do you expect Streamloots to last? Is it a safe to bet on this company? How many funding rounds has it received?
Startups are risky by nature, but as they evolve, the risk decreases. We have already received three funding rounds:
● A pre-seed round to create traction.
● A second seed round of 1 million. At this point we had already obtained enough traction and we were looking for the product-market fit.
● Now that we have achieved it and the risk has decreased, we have received a round of 5.6 million to escalate the company.
With this new situation, we are no longer a startup, but a scale-up.
Bessemer has been our biggest investor, and this gives us more credibility in the market.
The CEO of Shopify, the CEO of Yelp, and the CEO of viagogo have also accompanied us in this round and adventure.
They are all CEOs from enormous companies who have observed that the risk was low and have therefore placed their trust on us.
With the funds that we have received, we have secured 2.5 more years of the company’s life span, but our target is to make a new round happen in two years’ time.
2. What does Streamloots expect to achieve in the next three years?
Our dream is to make it possible for creators to become their own company, reaching their clients directly with the content they create.
To achieve this, we face several challenges:
Monetization: Streamloots is currently helping creators monetize their audience.
Increase the ownership of the audience: At present, creators generally have no ownership over their audience, regardless of the platform they use. The interaction with their viewers is limited to the scarce communication means that are integrated in such platforms.
Become a corporation: We want content creators to have paid holidays, access to medical insurance, etc.
These are the three challenges that we face to help creators become their own company, and we are currently focusing on allowing creators to have ownership over the consumers.
3. Is it possible to grow within the company?
If you are searching for a company where you can grow and develop your professional career, Streamloots is what you need.
Thanks to the venture capital funds supporting us, this is the best possible moment to grow within the company.
Starting a job in a startup can help you impulse your career quickly and find an enormous amount of new opportunities.
We are preparing the team to reach the next phase, both by expanding it and promoting internal growth.
The objective is to allow our employees to grow horizontally and vertically, so that they can acquire more responsibility in their position, coordinate teams and shift into new roles.
To do this, we have created a system that helps us promote internal growth at various levels where, through set targets and motivation, employees can obtain a wage increase and departmental growth.
We also have an internal training system, which includes training courses with top companies from each area, and an open budget set aside to facilitate reading material for our workers.
4. As a business, which are the following steps that Streamloots is planning to take?
We still have a lot to do. Over the last two years, our product-market fit has been enough to determine that our market is big and that people like our product. From here onwards, we must keep moving forward and growing. We have received this last funding round for this purpose.
We have around 50,000 registered streamers, whereas only in the English community of Twitch there are more than 5 million. The time has come to expand Streamloots.
And here we are only talking about streamers. But remember that our mission is to help any type of content creator. In summary, it is a great moment to start working at Streamloots and grow at the company’s tremendous pace.
5. Do developers understand the product and the user?
The most important thing for us is that every developer is aware of the impact their work will have on our users’ lives.
We share all the information related to the research we do on our users, data analysis, support issues; and we have a monthly budget assigned to each employee so that they can try the product and interact with the streamers.
Our development team is divided in two subteams: one of them oversees the streamers, and the other manages the viewers. Their role is to analyze and get to know the experiences of both types of users to ensure that they all have the best experience possible when using the platform.
6. Do you have the same business culture when working remotely as when you were in the office?
We are working on our remote business culture —improving and learning from every internal process of the company.
At the moment we are all working very synchronously, and we have many meetings. Our target is to eliminate these meetings little by little so that everyone can work asynchronously.
There are obviously advantages to working remotely: not having to travel to work, having your family closer, having no dress code (even though this was never an issue, we can now work in our pajamas xD).
Nevertheless, it does have its disadvantages. The creative processes that used to originate spontaneously in the hallways cannot be compared with the brainstorming that we now organize in video calls. Additionally, the team spirit that we used to create before when we met up outside work is somehow lost. However, we will try to promote this again once the situation allows it.
In the future, we will try to keep the remote culture, but we will meet up periodically with all the members each quarter, and we will offer them the chance to work in our offices in our key locations: Valencia and San Francisco.
7. How are decisions made?
In the long run, founders are responsible for clarifying the targets of the business. Together with the management team, they introduce them in the OKRs, and each team decides how to contribute to these targets and how to achieve them.
For example, in the Marketing department, the CMO works to define a strategy that allows the team to achieve the targets that have been set. Then, both collectively and individually, the members of the team make decisions about the final execution. The latter part of the process will mark the difference between achieving these targets or not.
8. What work philosophy does Streamloots follow?
We use OKRs to focus on our targets for each month and quarter. From then on, teams work autonomously. Along with their manager, they decide what to do to achieve these targets or to get as close as possible to them.
Every individual is responsible for their work and almost autonomous. We have weekly meetings that help us coordinate ourselves, and tools to help us communicate and manage projects in a comfortable way, to provide people with context and so that they always know what they have to do.
9. What is Streamloots’ business model like?
Streamloots allows content creators to monetize their audience. Every time someone in their community makes a purchase through Streamloots, we receive a commission.
At a more practical level, we use chests and cards as our monetizing method. Communities buy interactions with their favorite streamer through the chests, and we take a commission from each purchase.
10. Is it true that people are willing to pay for watching someone play?
It is of utmost importance to understand that the level of difficulty that entertaining an audience can imply. Streamers spend many hours working on the best way of entertaining their community. They must look cheerful on the screen even if they do not feel like it, and they always must be the best version of themselves in front of hundreds of strangers to achieve success.
This entails a humungous effort, and many of their viewers spend multiple hours entertained thanks to them. That is why they thank them by supporting them economically.
On the other hand, the biggest streamers are considered as true superstars by their audience. Some of them are as famous as actors or football players. Hence, the excitement the viewers feel when they know that they can interact directly with their idols, up to the point where they might receive a customized video or get mentioned during a stream, is astronomical in comparison to just taking a picture with someone famous or receiving their autograph.