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What’s Going on with PodTech – Some Basic Facts July 27, 2007

Posted by John in Technology.
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 I am waking up getting my kids ready for their camps so I don’t have time to write something up in detail to clarify some detail in Mike post on PodTech.  So here are some facts on PodTech (no spin):

1.  38 full time employees

2. rent approx 12,000 sf office space in Palo Alto

3. PodTech Studio in Palo Alto for video production and show development

4. record revenue growth every quarter 

5. 45 corporate clients and growing

6. fullly funded to hit projected cash flow positive (break even and profitable) with our current mix in business not including new products that we are developing

7. focus of the company:  1) editorial content, 2) develop media franchises through signing (aggregation) of professional producers and in house development (our studio), 3) continue to be the leader in social media for our clients, 4) innovate on the social media ad models that we are developing, and 5) media technology platform

6.  I and the board are looking for a CEO - specifically someone who can take the day to day operations off my hands and build a team to scale the company.  This will allow me to focus externally on developing media and working with leading marketers and advertisers.  This is a very similar situation that Ross Mayfield recently posted about – CEO 2.0.  I’m proud of PodTech’s market position, team, platform, and our client base.  For the company it’s about getting to cash flow positive and then scaling.  The business is doing well but we do need to improve in many areas.

7. The changes will continue.  PodTech is in the middle of massive change and growth.  I expect that change will be part of our company culture. 

8. We are not getting out of the content creation business but will continue to focus on aggregation.

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Comments»

1. Harold Gilchrist - July 27, 2007

Mike at TechCrunch wrote:
“Their new model, which finds and signs talent for guaranteed revenue, and then aggregates sites to advertisers, is a good one. ”

If this is true, why isn’t Podtech more transparent about the details of this process.

Oh yeah, you said no spin:
“4. record revenue growth every quarter”

Without numbers understand that #4 is pure spin.

2. NewTeeVee Friday Morning Vid-Biz Headlines « - July 27, 2007

[...] PodTech Update; TechCrunch gets some more details on the troubled startup’s shift away from content production, confirms $2 million bridge funding and CEO search. (TechCrunch, CEO John Furrier responds) [...]

3. Podcasting News » PodTech CEO Upbeat Despite Struggles - July 27, 2007

[...] podcaster and PodTech CEO John Furrier has posted a defense of the company, which has struggled to become profitable, failed to find new investors and has had to let go some [...]

4. Top Posts « WordPress.com - July 27, 2007

[...] What’s Going on with PodTech – Some Basic Facts  I am waking up getting my kids ready for their camps so I don’t have time to write something up in detail to […] [...]

5. The Technology Free Press » Blog Archive » What, Indeed, Is Really Going On at PodTech? - July 28, 2007

[...] responded on July 27, 2007, with “What’s Going on with PodTech – Some Basic Facts, which is an attempt to clarify some detail in Mike post on PodTech.”(sic)  He [...]

6. The Technology Free Press » Blog Archive » Is It Really a Blog Fight? - July 28, 2007

[...] CEO John Furrier responded to Arrington on July 27, 2007, with “What’s Going on with PodTech – Some Basic Facts. Valleywag calls the dispute over the accuracy of Arrington’s July 27, 2007, post a [...]

7. sytycd - July 28, 2007

Ding Ding

Round One complete – Mike Leading

Ding Ding

Let Round 2 begin!! This is great stuff.

8. mark joss - July 28, 2007

sytycd: how can you look at it as a bout. PodTech has business to run. I’ve been following John’s blog and the podcasts on PodTech. The company has been doing a ton of work in media and social media. I don’t look at PodTech like Techcrunch. Techcrunch is about ratings and eyeballs. PodTech is about small audiences and targeted media. These companies are very different but complementary.

John: keep on building your business. Most people don’t understand how hard it is to build a real business. You’ve built at real business there at PodTech.

9. sytycd - July 28, 2007

That numbered list sure looks like a bout to me. It’s been very entertaining to see multiple points of views on the same subject. That’s the way business works. Everyone has their perspectives and only time will tell which one is right.

As an observer I find it highly educational to see multiple points of view on a subject. It helps me to better evaluate my own business decisions.

10. VentureBeat » Podtech takes on more debt — but must decide whether fish or fowl - August 11, 2007

[...] the company continues with a cloudy notion of where it is headed. Furrier’s post Friday describing the company’s “focus,” is anything but focused. Here is what he said: 7. focus of the company: 1) editorial [...]


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