Can a group of smart peoÂple from Israel do a betÂter job of findÂing the most relÂeÂvant conÂtent for your audiÂence? Roy WeissÂman from MediaJobs.com spoke with Lior Degani, of Swayy, who agreed that there was lots of comÂpeÂtiÂtion in the space but explained why he believes that Swayy will rise above them all.
“What Swayy does, it goes over your comÂmuÂniÂties, your audiÂence, your social, your phoÂtos and everyÂthing, and start checkÂing out what they react betÂter to, what topÂics they react betÂter to, and proÂvide the conÂtent accordÂing to that.”
LisÂten in or read along as Roy WeissÂman talks with Lior about why he believes Swayy will become the leader in its market.
You can lisÂten to the interÂview as well as read it below:
Roy: My name is Roy WeissÂman from MediaJobs.com. Today we’re speakÂing with Lior Degani from Swayy.co. Swayy is a perÂsonÂalÂized conÂtent curaÂtion platÂform that helps you disÂcovÂer engagÂing conÂtent to share with your audiÂence to share on social media.
WelÂcome Lior. How are you?
Lior: Hi. I’m great. Thanks for havÂing me.
Roy: You’ve got this busiÂness and we’re talkÂing about a social conÂtent creÂation platform.
Lior: Yes.
Roy: You know, maybe you can give us a sense of why you chose to creÂate this, your backÂground, how your founders came togethÂer. Just a litÂtle bit of backÂground on the busiÂness and the founders.
Lior: Yes. My pleaÂsure. We’re from Tel Aviv, basiÂcalÂly in Israel. Short stoÂry, it begins with a difÂferÂent prodÂuct we used to do around six months ago, which was called Summer.
DurÂing the process of workÂing with it on a start up and, you know, actÂing on social media and tryÂing to be active as much as we can on our TwitÂter page and our FaceÂbook page, we find that it’s realÂly, realÂly hard to find great conÂtent to share, that it takes a lot of time and knowledge.
We hired a comÂmuÂniÂty manÂagÂer that used to work at anothÂer, two othÂer sites findÂing conÂtent. Then we realÂized that it is a big pain in this world and we decidÂed to check out othÂer peoÂple, othÂer comÂpaÂnies to see it was an existÂing probÂlem for more peoÂple that startÂed up, and we found out it is.
We startÂed lookÂing around, and evenÂtuÂalÂly we launched Swayy three months ago on a priÂvate beta, which is supÂposed to do exactÂly that, it’s supÂposed to help social media marÂketers, comÂmuÂniÂty manÂagers, SMBs and start ups, share great conÂtent easÂiÂly, just a few minÂutes a day instead of a few hours.
Roy: Now, your partÂners, you have three othÂer partÂners, how did you guys‑, did you guys know each othÂer? How did you come together?
Lior: Yes. BasiÂcalÂly it’s an instant conÂnecÂtion, we all spent from childÂhood, we worked togethÂer in sevÂerÂal start-up comÂpaÂnies before until we got this, I’m not a poet, but tradÂing, to start up our own venÂture. Then, yes, we’ve known each othÂer for many years now.
Roy: Now this venÂture is an evoÂluÂtion from Summer.com, or-
Lior: The URL is Getsummer.com, yes. It’s not an evoÂluÂtion, but it’s someÂthing that we wantÂed to build to help us work betÂter in SumÂmer, and once we realÂized that there’s a betÂter busiÂness here, so we startÂed putting more focus on Swayy and left SumÂmer just as a history.
Roy: Now there must be, there’s so many difÂferÂent social media tools, platforms-
Lior: Yes.
Roy: ConÂtent search tools. There must be some peoÂple, orgaÂniÂzaÂtions, some othÂer sites that are comÂpetiÂtors that what you guys are doing.
Lior: ExactÂly. Yes. There are many comÂpetiÂtors. Some are direct and some are not direct, but the thing is our approach is a litÂtle difÂferÂent. We think, we want to change this conÂcept of conÂcenÂtratÂing in the sense that it’s not about what you like to read or what you like conÂsume, it’s about what your audiÂence likes to consume.
What Swayy does, it goes over your comÂmuÂniÂties, your audiÂence, your social, your phoÂtos and everyÂthing, and start checkÂing out what they react betÂter to, what topÂics they react betÂter to, and proÂvide the conÂtent accordÂing to that.
It’s someÂthing that we couldÂn’t find out there. No one does it in that approach, that’s one thing.
AnothÂer thing is that in othÂer social media tools, not all of them goes with conÂtent. They are great. We are probÂaÂbly using most of them each and every day, us too, but we want to make conÂtent sharÂing much more easÂiÂer, just proÂvide the conÂtent, give you the best options, obviÂousÂly to read the conÂtent if you like to, but also share it and share it better.
We can talk latÂer about how we do it. There are comÂparÂisons here, but we are takÂing a difÂferÂent approach, and that’s our goal for the moment.
Roy: Who would you conÂsidÂer your two biggest competitors?
Lior: Okay. Our comÂpetiÂtors are, let’s say, they can fit into two groups, either content
creÂation platÂforms, like I said, they give you conÂtents you like to conÂsume, and you can, obviÂousÂly you can find them, also to share, and it can be from Seedling, which is Google ReadÂer’s replaceÂment, and you can find FeedÂBoard that gives you great conÂtent from your feeds, and so on.
On the conÂtents for your audiÂence, there are bigÂger comÂpaÂnies that, like PerÂcoÂlate, for examÂple, which proÂvides the soluÂtion for brands, for big brands, and we are takÂing it to the more SMB start-ups approach.
Roy: Now you said, what was the othÂer one called? Percolate?
Lior: PerÂcoÂlate. Yes.
Roy: P‑E-R-C-O-L-A-T‑E?
Lior: Yes.
Roy: Okay. So the difÂferÂence is they’re tarÂgetÂing largÂer orgaÂniÂzaÂtions and you guys are tarÂgetÂing small to mediÂum-sized organizations?
Lior: That’s everyÂthing. Yes. That’s everyÂthing, you know, big brands like PepÂsi, that proÂvide whole soluÂtions for big enterÂprisÂes, and we are givÂing it that way that you want to hire someÂone just for the conÂtent. You want to solve the probÂlem for comÂpaÂnies or start up, but that doesÂn’t have the resources.
Roy: A lot of comÂpaÂnies form these busiÂnessÂes and they immeÂdiÂateÂly go after the big brands because they can charge them $25,000 a month.
Lior: That’s what they do, yes.
Roy: They don’t need that many peoÂple to make a lot of monÂey. If you go after the smallÂer uniÂverse, what kind of pricÂing are you anticÂiÂpatÂing for your service?
Lior: In our immeÂdiÂateÂly busiÂness modÂel, it’s a framÂing modÂel, it’s a descripÂtion modÂel, but we proÂvide difÂferÂent soluÂtions, we proÂvide a soluÂtion that is good for ourÂselves, as a start up, on social media, and it’s a difÂferÂent prodÂuct. I mean, they are going from‑, and you’re right, they can charge up to $25,000 easÂiÂly. Get it to the more, that’s the SMB prodÂucts, or even one man shows also.
Roy: What are you expectÂing? You’re sayÂing that for a basic verÂsion it’s going to be free?
Lior: For yes, for some. The basic verÂsion is free. The basic plan, you get some of the feaÂtures, and you get to conÂnect two social accounts, one FaceÂbook and one TwitÂter, for examÂple, and then you get to disÂtribÂute conÂtent accordÂing to this audiÂence, so the audiÂence of these accounts.
We also proÂvide more advanced plans, which are a monthÂly subÂscripÂtion, where you can conÂnect more accounts, you get betÂter schedÂulÂing options, you can colÂlabÂoÂrate with your teams memÂbers. It will highÂer levÂel for the bigÂger comÂpaÂnies then.
Roy: It sounds more like a HootÂSuite modÂel where they charge $9.99, they have a free verÂsion and then $9.99 a month, and then you pay more monÂey if you want to have more, you know, a largÂer version.
Lior: ExactÂly. Yes. It’s very simÂiÂlar to what HootÂSuite does and Buffer, for examÂple, those are good comÂpaÂnies and they have great modÂels, and we are more in their world, in their realm. This is the best audiÂence, but we’re giving‑, they have solved the manÂageÂment probÂlem and we are solvÂing the conÂtent problem.
Lior: I’m using Buffer, by the way.
Roy: You’re using, what is Buffer?
Lior: I’m using Buffer and I’m using TwitÂter. Yes, those are great-
Roy: What’s the first‑, what’s the “B” one?
Lior: Buffer.
Roy: Oh, Buffer.
Lior: Yes.
Roy: Buffer.com.
Lior: I think it’s Bufferapp.com. Yes.
Roy: Buffer. Okay. You’re using them both, and what are you findÂing when you use them?
Lior: I’m using them to manÂage my social accounts.
Lior: Buffer is for schedÂulÂing, when, basiÂcalÂly it finds someÂthing you want to share you just put it to your Buffer and it posts it for you.
Roy: You can post it on a schedule.
Lior: Yes.
Roy: With HootÂSuite, but, yes.
Lior: You can do, but yes, and I’m using, TwitÂter, for examÂple, which is great, to get all my feeds because it has many social accounts, but we are going on techÂnolÂoÂgy. We have a semanÂtic engine that knows how to extract whatÂevÂer an artiÂcle’s talkÂing about and gives you exactÂly what you need to share.
It’s a difÂferÂent, comÂpleteÂly difÂferÂent game.
Roy: Now are you going to inteÂgrate with some of these comÂpaÂnies like HootÂSuite or Buffer?
Lior: Yes. That’s someÂthing in the plan, yes. I’m not tryÂing to right away, but that’s in our plan, those upgrades to it and the iniÂtiaÂtive to work togethÂer or something.
Roy: Because obviÂousÂly peoÂple are lookÂing for one soluÂtion to coordinate-
Lior: You’re right. You’re right.
Roy: I mean, kind of like so many tools.
Lior: You’re right. DefÂiÂniteÂly. I also one tool. By the way, also the user, they’re askÂing for that, and that’s good, because that’s a sign for me that peoÂple want it. They’re askÂing us about inteÂgraÂtions, then we’ll defÂiÂniteÂly do it in the future.
Roy: When do you anticÂiÂpate havÂing a launch of the product?
Lior: Soon. We’re just finÂishÂing, we want to be ready. We like the whole go fast and develÂop methodÂolÂoÂgy and we a lot of litÂtle impleÂmentÂing, and that’s how we got this did a prodÂuct in less than three months, and launch it very quick and we iniÂtiÂatÂed a busiÂness modÂel a few weeks after that priÂvate beta launch.
We’re genÂerÂatÂing revÂenue pretÂty quick. But, still, we want to do a pubÂlic launch when we’re a litÂtle bit more ready in terms of feaÂtures and pricÂing, and once we feel ready, we’ll launch it. I don’t want to say dates because, you know, I want to stand behind it, but hopeÂfulÂly soon.
Roy: Now did you say you’re genÂerÂatÂing revÂenue now?
Lior: Yes. Yes, definitely.
Roy: PeoÂple are payÂing for-
Lior: PeoÂple are payÂing to add extra social accounts for them to get betÂter schedÂulÂing options, to corÂrobÂoÂrate with one or two team memÂbers in the comÂpaÂny. We also give a litÂtle bit more extendÂed anaÂlytÂics, for examÂple, in the pro plan.
You get a few more feaÂtures, that peoÂple need the prodÂuct and use it daiÂly are willÂing to pay for. We have two plans, one is pro plan, and one is the team plan. We have a few on each.
Roy: Now what is the cost for each of those plans?
Lior: We genÂerÂatÂed revÂenues, I think, a couÂple of weeks after we launched.
Roy: Okay. What is the price for each, the Pro and the othÂer plan?
Lior: BasiÂcalÂly the price at the moment is $12.00 a month for the Pro plan and $39.00 per month for the Team plan. We give it on a disÂcount, 17%, 25% disÂcount for the priÂvate beta users, but those are the prices, $12.00 and $39.00 a month.
Roy: Do you have any sense of what type of users you have?
Lior: Yes. Yes. I can say that peoÂple that have many social accounts, like, let’s say, they manÂage two entiÂties, for examÂple, they go for the pro plan. The teams, it’s a litÂtle bigÂger, comÂpaÂnies, 10 peoÂple or maybe 20 peoÂple that colÂlabÂoÂrate conÂtent, or manÂagÂing a few, sevÂerÂal accounts. Let’s say, for examÂple, media agencies.
They manÂage, they can manÂage 10 or 20 accounts on FaceÂbook and we proÂvide the soluÂtions for them. One of our oldÂest users, user types, is media agenÂcies, and we’ve just helped them work betÂter for their accounts for their customers.
Roy: Say you launched this in 60 days, is that reaÂsonÂable to say?
Lior: Yes. That’s reasonable.
Roy: If you launched in 60 days, that’s pretÂty much, say, the end of the summer.
Lior: Yes.
Roy: Where do you enviÂsion yourÂself being in SepÂtemÂber of 2014, from a busiÂness standÂpoint, from revÂenue, from users, things like that?
Lior: That’s a great quesÂtion, but it goes togethÂer with what you asked me before. We, in a year from now or a year after the launch, we want to be on the inteÂgraÂtion levÂel. We believe that in a year from now we can do realÂly big things for the HootÂSuite users, for the Buffer users, for the TwitÂter users, so many great manÂageÂment, social media and manÂageÂment tools, which lack of content.
They don’t proÂvide users with conÂtent. In my perÂspecÂtive, in our perÂspecÂtive as a comÂpaÂny, conÂtent marÂketÂing is huge now, but it’s not wideÂspread enough, but in a year from now it will be.
Every comÂpaÂnies knows, and will know, they need to share great conÂtent with their audiÂence, apart from doing all the othÂer stuff. That will be the perÂfect time for us to inteÂgrate with those social media tools then and proÂvide them just conÂtent for the users.
Roy: How many users-
Lior: That’s our biggest goal for next year.
Roy: Would you have a goal for the numÂber of users you want to have by next year?
Lior: We do. It will be, I guess, in the hunÂdreds of thousands.
Roy: HunÂdreds of thousands?
Lior: HunÂdreds of thouÂsands. Yes.
Roy: Okay.
Lior: That would be a great achievement.
Roy: Will that be paid users or free users?
Lior: No, that will be total users. From then we are defÂiÂniteÂly, I can’t give you exact numÂbers or a perÂcentÂage of payÂing users, but between 2%-5% would be also great for us.
Roy: 2%-5% paid.
Lior: Okay.
Roy: Now you’ve develÂoped this techÂnolÂoÂgy, you’re obviÂousÂly workÂing to refine it, I think the conÂcept sounds fanÂtasÂtic. ObviÂousÂly what your audiÂence wants instead of just what you want because that kind of addressÂes a key marÂketÂing issue, but what’s to stop someÂbody else from writÂing softÂware that does exactÂly this?
Lior: Which softÂware? Sorry.
Roy: Now you guys have creÂatÂed the softÂware to anaÂlyze the user-base of each account.
Lior: Yes.
Roy: What I’m wonÂderÂing is, you know, how proÂpriÂetary is your softÂware? What do you think you’re doing that gives you a comÂpetÂiÂtive edge over someÂone else who could just be writÂing the same proÂgram as what you’ve done?
Lior: Okay. BasiÂcalÂly it’s not that simÂple. The techÂnolÂoÂgy is quite sophisÂtiÂcatÂed and was quite expenÂsive, by the way, because the thing is, we do two things at the back end. We anaÂlyze your audience.
I mean, whenÂevÂer you share, and whatÂevÂer you’re sharÂing all the time, and we know, and we can tell exactÂly that topÂic, on a very, very drilled down levÂel, what your audiÂence reacts betÂter to.
That’s what we do from the one side, and the othÂer side, through each day, each day out of more than 50k pieces of conÂtent each day and anaÂlyze each one of them to match it between the two. The conÂtent you see on your Swayy dashÂboard is someÂthing we’ve gone all over the web findÂing exactÂly to match the same conÂtent for you.
The techÂnolÂoÂgy for that, not many comÂpaÂnies can do that withÂout the knowlÂedge, obviÂousÂly, and some comÂpaÂnies, of course, do it and do it great, but for me, that code, the actuÂal writÂing process and techÂnolÂoÂgy, and that’s someÂthing we are developing.
It’s more than just a social media tool. We are more of a semanÂtic engine. It’s not that easy to do. AnyÂways, yes.
Roy: Do you see that this, obviÂousÂly you’ve designed this for a speÂcifÂic purÂpose from a social media perÂspecÂtive. Do you see yourÂself expandÂing the busiÂness into othÂer segÂments or using the techÂnolÂoÂgy difÂferÂent ways or just stayÂing focused on what you’re doing now?
Lior: Yes. ConÂtent recÂomÂmenÂdaÂtion is a huge, huge, huge marÂket, in genÂerÂal, not necÂesÂsarÂiÂly in our world. It can go from when you read an artiÂcle on the New York Times and on the botÂtom of the artiÂcle you can see recÂomÂmendÂed artiÂcles for you, that’s conÂtent recommendation.
The New York Times uses a tool that can tell, “Okay, this perÂson liked this artiÂcle, so he might like the othÂer one.” That’s a huge marÂket, and it is for the last few years, and it’s worked great, and amazÂing comÂpaÂnies do that, but we’re takÂing it to the social level.
We believe we can, we should seek in that area because that area hasÂn’t been disÂcovÂered yet, and that’s what we want to focus on. It’s conÂtent disÂcovÂery for social media.
Roy: StayÂing very focused on this approach for this purÂpose, at this point.
Lior: At the moment. Yes.
Roy: How do you valÂue, how big is the marÂket from a revÂenue basis? How big would you say the marÂket is?
Lior: Oh, that’s a great question.
Roy: I mean, because you’re sellÂing a tool that’s a B2B tool. It’s not a conÂsumer. It’s not a conÂsumer marÂket, it’s a B2B, which obviÂousÂly, those marÂkets tend to be smaller.
Lior: Right.
Roy: What do you guys estiÂmate the dolÂlar valÂue of the marÂket that you’re sellÂing into is?
Lior: The thing is, you’re right, it’s a B2B, in that we proÂvide total soluÂtions for us, and start-ups and stuff like that, but in social media, I see myself as a brand and I’m sure you see yourÂself as a brand. You proÂmote yourself.
You want to be betÂter on TwitÂter and you want to have more folÂlowÂers on TwitÂter, on FaceÂbook, and if you have a FaceÂbook page, for media jobs, you’d like to get more likes and everything.
It’s not necÂesÂsarÂiÂly only for brands or comÂpaÂnies, because everyÂone is active on social media and wants to be active and want to be betÂter at it, getÂting potenÂtial customers.
I said it before, I believe that more and more peoÂple and busiÂnessÂes will expand into the conÂtent marÂketÂing world in a year, maybe two years, from now, it will be more main stream.
It’s hard to say, exactÂly, the size of the marÂket, but as far as I think, it will be quite big. It will be some porÂtion of the old social media manÂageÂment tools.
Roy: You must have some sense of a dolÂlar valÂue on this?
Lior: It will be just, you know, a rough numÂber. You mean, in a revÂenue number?
Roy: Well just, yes, what would the total potenÂtial marÂket for these tools, for what you’re doing?
Lior: You can get to, and I’m just sayÂing, just a numÂber, but easÂiÂly the milÂlions, easÂiÂly revÂenues, easÂiÂly, before it will realÂly destruct. In the next year or two, it can be in the sevÂerÂal milÂlion dolÂlars of the year revÂenue, which is quite small, but that’s for now. That’s just to estabÂlish the business.
Roy: What do you think the potenÂtial is?
Lior: In the long term? It can get to, easÂiÂly to, I don’t know, dozens of millions.
Roy: $10-$20 million?
Lior: $20 milÂlion, $30 milÂlion, I don’t want to say a speÂcifÂic number-
Roy: Right.
Lior: It will be realÂly good. But, yes, that’s easÂiÂly the conÂtext of social media, growÂing, I mean, it’s true it’s existÂed for many years, but the use of it and the fact that peoÂple are payÂing for great tools for them that helps them and saves them time or saves the monÂey, which is one of the facets we found on Swayy, for examÂple, and I’ll tell you later.
When peoÂple work with social media, any tool that will give them, you know, use the time they’re using, someÂthing like that, they are willÂing to pay, and that’s how social media tools aren’t workÂing. It would just grow more and more, and I believe in the five years from now it will be quite big.
Roy: Do you guys, have you guys hired any employÂees yet?
Lior: Yes. We have. We have hired a comÂmuÂniÂty manÂagÂer. That’s it for now. We’re lookÂing to expand the team also for mobile. We’re lookÂing for mobile develÂopÂers at this stage.
Roy: How many peoÂple are you thinkÂing you’re going to be hiring?
Lior: The near future will be two more, and growÂing slowly.
Roy: Have you guys raised any monÂey at this point?
Lior: We have, yes. We’re in the midÂdle of a seed round. We have raised founder monÂey, and that’s it for now. We’re still raising.
Roy: Do you have anyÂthing you want to share with us, how much you guys are lookÂing to raise, or…?
Lior: We’re just in the midÂdle and we’re about to close this round. It will be a few hundred.
Roy: Thousand.
Lior: Yes. For this testÂing round.
Roy: Then, you’re going to be raisÂing more monÂey down the road, I guess.
Lior: Yes. Yes. We’ll see, but we might, yes. It depends, obviÂousÂly, on the revÂenue then how big our goals will be, but yes, I guess you’re right.
Roy: Now, you’re the head of marÂketÂing. Is that correct?
Lior: That’s true. Yes.
Roy: What do you see yourÂself doing in the next three or four months with respect to getÂting visÂiÂbilÂiÂty for Swayy?
Lior: Yes, that’s a great quesÂtion. MarÂketÂing for any web app or mobile app, it’s realÂly hard work, and the thing is‑, but if you think about it, Swayy is a conÂtent marÂketÂing platÂform. It helps to share conÂtent, and great conÂtent, and we realÂly believe in the whole curÂrent marÂketÂing perspective.
As a comÂpaÂny, and me as a perÂsonÂnel, and also as the comÂpaÂny, we’re realÂly devotÂing a lot of time on writÂing great conÂtent about any topÂic in this world and about Swayy, and we’re tryÂing to put our name out there.
Right now, we work realÂly hard and we get some great menÂtions of Swayy all around and you can see Swayy menÂtioned in many blogs, and that’s someÂthing I work daiÂly on.
We’re lookÂing also for growÂing the prodÂuct, I mean, growÂing the user base withÂin the prodÂuct itself, which is someÂthing we’re workÂing also, in a team levÂel. BasiÂcalÂly, it’s origÂiÂnal conÂtent marÂketÂing and some viral growth from the prodÂuct itself. That’s someÂthing we’re devotÂing our time to in the near future.
Roy: It sounds like a major social media marÂketÂing effort.
Lior: Right. ExactÂly. A lot of conÂtent and social media marÂketÂing, yes, that’s right.
Roy: Where do you enviÂsion, do you have any sense by the end of this calÂenÂdar year where you guys will be with respect to numÂber of users?
Lior: At the end of this year, you mean, like-
Roy: DecemÂber of 2013.
Lior: That’s five months from now. Yes. I could say around 50k. That will be a great sucÂcess. I mean, we haven’t launched it yet, so, we’re only growÂing by inviÂtaÂtions only. So it depends when we launch, but we can get to the numÂbers of 40k to 50k for this year will be a great kickÂoff for 2014 for us.
Roy: It sounds like you have your work cut out.
Lior: Yes.
Roy: I guess using your platÂform you should be able to share a lot of conÂtent and get some action.
Lior: Yes. It does help me a lot. Yes.
Roy: Do you guys have any kind of thoughts on once you build the busiÂness up and you’re doing great what your exit stratÂeÂgy would be?
Lior: There are sevÂerÂal direcÂtions. HonÂestÂly, I can’t pick one, but there are sevÂerÂal direcÂtions for an exit stratÂeÂgy. Again, I told you before, we are in the conÂtent disÂcovÂery, which is, I mean, it’s a huge, huge marÂket and unique techÂnolÂoÂgy is utiÂlized there, and we are one of them.
We have the best techÂnolÂoÂgy. We do, that’s kind of disÂrupÂtive to the social media world. So defÂiÂniteÂly, if the whole conÂtent disÂcovÂery will go from pubÂliÂcaÂtions to social media, which by the way is hapÂpenÂing right, I mean, these days, so that can be an exit stratÂeÂgy. I mean, big conÂtent and disÂcovÂery companies.
Roy: Lior, you realÂly preÂsentÂed some excitÂing opporÂtuÂniÂties for peoÂple to do betÂter in their social media efforts in getÂting and sharÂing conÂtent and a tool that has an enorÂmous, enorÂmous depth to it. Is there anyÂthing that I haven’t talked to you or menÂtioned that you’d like to discuss?
Lior: In genÂerÂal, I just, we realÂly believe in doing stuff quick, and I menÂtioned, we launched our preÂmiÂum modÂel a few weeks after we just released the prodÂuct, and that’s someÂthing we didÂn’t do before in our preÂviÂous prodÂuct, and that’s someÂthing we learned and I think it’s imporÂtant to share.
I mean, you should have your busiÂness modÂel in your head. You should have it, even if you don’t impleÂment it. You must have a direcÂtion or know how you’re going to do it, because othÂerÂwise you get stuck, and we got stuck once, and we were kind of stuck with great prodÂucts and peoÂple, thouÂsands of users used it, but we couldÂn’t see a way to monÂeÂtize it.
That’s someÂthing that I think is realÂly imporÂtant for start-ups to know, and not only count on the future when that’s someÂthing we used to do and I believe it’s wrong, now. You should start monÂeÂtizÂing as fast as you can.
Roy: That sounds excitÂing. How can peoÂple get a hold of you if they want to reach you?
Lior: We are all the time online,on TwitÂter. That would probÂaÂbly be the easÂiÂest way. I’m @liordegani and the comÂpaÂny is @getswayy.
Roy: The webÂsite is S‑W-A-Y‑Y.co.
Lior: Right.
Roy: For peoÂple who want to put an “M” on there, but there’s no “M”, .co.
Lior: Yes. Yes. That’s the domain we use.
Roy: Did you do that for a reaÂson or you just wantÂed that name and this was the domain that you could get?
Lior: That was our name and there was no domain, so we said, “Okay, we’ll solve it later.”
Roy: You found one. Okay.
Lior: Yes.
Roy: Thank you so much, Lior, for sharÂing all this great information.
Lior: Thank you.
Roy: I think it’s going to be excitÂing to see the prodÂuct develÂoped. I signed up for it. I’m going to start sharÂing and seeÂing how it goes.
Lior: Great.
Roy: Maybe it’ll help grow our busiÂness grow enorÂmousÂly and we’ll be one of those testimonials.
Lior: Yes. HopeÂfulÂly. Yes.
Roy: Thank you so much.
Lior: Thank you. Thank you for havÂing me. It was great.