Todays Job is for:
Kapwing is a maker tool. They enable people on the internet to easily make memes, edit videos and photos. TechCrunch described them as the Adobe of the Meme Generation.
Adobe has a $213B market cap. This speaks to how large the industry that Kapwing is going after is. There are a lot of other companies going after this market as well including, Figma, Canva, Descript, and more. Not all of these companies will be successful but the size of Canva ($4.7B) does speak to the opportunity for each of these companies to take market share from Adobe.
Kapwing's current financials are not easy to find but they were doing 100K ARR in May of 2018. Based on the tweet below they at least doubled by March of 2019.
If their organic traffic has any correlation with their revenue then they could be as much as $1M ARR today. I would assume potentially even more.
The big question I have in regard to Kapwing is how things are going with their enterprise plan development.
They have over 1 million users on the platform but like Slack, I assume the majority of their revenue long term is going to come from enterprise companies. It seems they are working this but I don’t know how it is going yet.
The founders of Kapwing are first-time entrepreneurs but I like a lot about them.
First, they are hustlers. Before Kapwing raised any money the founders were able to get the business to $100k ARR. This isn’t a lot of money but I like founders and products that aren’t afraid to charge. You won't see me talking about too many social media companies here. It's not my thing.
Second, they understand and value marketing. Kapwing is just getting started but they have over a million users. This is because the founders understand SEO and they have built viral marketing into their product. They seem very smart. Their biggest challenge is going to be going to the next level.
They have a good team around them to help them go to the next level. Kleiner Perkins and CRV are two of the most reputable VC firms in Silicon Valley. They have both invested in Kapwing. Also, Harry Stebbings and Village Global are two up and coming Angel Investors/ VC Firms in Silicon Valley. They have also both invested in Kapwing.
They are hiring in Design, Product, Engineering, and Operations
Below is the contact information for the team:
Linkedin: Julia Enthroven - CEO
Linkedin: Eric Lu - CTO