Podcasts Are Everywhere. These LA Startups Aim to Make Good Listens Easy to Find
Los Angeles-based Goodpods launched at the start of the pandemic in the hopes of answering the question "What podcast should I listen to?"
As the podcast market has become more saturated, more and more companies are trying to make discovery easier. Google's Podcast app relies on AI-powered suggestions to lure listeners. Other podcasting platforms like Breaker take an approach more like that of social media.
"So many podcasts are being created every single day. And so the vast universe of podcasts that you can listen to is just getting bigger and bigger," said JJ Ramberg, co-founder of Goodpods. "Discovery is getting harder and harder."
Ramberg, the former host of MSNBC's weekend business program "Your Business" and "Been There Built That" podcast, came up with the idea for Goodpods after she found herself stalling her daily jog so she could search for a good podcast. She realized there was likely a more efficient way to ask her friends for podcast recommendations.
So she co-founded Goodpods with her brother, Ken Ramberg, as a way to stay connected with friends about what they were listening to in the podcast world. Both Rambergs are investors in dot.LA.
Breaker was recently bought by L.A.-based Maple Media.
"Rotten Tomatoes does it for movies. Yelp does it for restaurants, Goodreads did it for books," said Ken Ramberg. "There was no really social network or discovery platform for good podcasts, really."
Over half of Americans have listened to a podcast and about a quarter listen to a podcast at least once a week, according to a recent survey by Edison Research, which examines trends in digital media consumer behavior.
Breaker, a social podcasting app similar to Goodpods, has also been trying to make it easier for listeners to find podcasts they love. Maple Media, run by Michael Ritter, recently bought the platform and its social media handles after Twitter absorbed their staff. He thinks the problem is that all this content was created without a well-thought-out infrastructure that could channel it to consumers.
"Podcast discovery trails other media formats, such as video," Ritter said. "YouTube executes very well with a robust recommendation system that has been refined over the past 15 years and TikTok is innovating in this area as well. Podcasting does not have this infrastructure, but new shows and audiences are both growing very quickly."
Goodpods launched at the start 2020, and has averaged over 1,000 downloads monthly since, according to Apple app store data. Since March, the Los Angeles-based app has attracted attention from celebrities including Kim Kardashian West, who offered to follow back the first 10 people who followed her on the app — a move that was not a paid partnership in any way, said JJ Ramberg.
Other notable users include journalist and author Malcolm Gladwell, actor and producer Alyssa Milano and journalist and host Katie Couric.
Among the groups that have popped up on the app's recently released feature are "Gen Z College Podcasters," university students who are sharing the podcasts they've made with each other; "History Lovers," podcast listeners who share their favorite podcasts; and "Slopeside Pod Club," whose description reads "Pods for dog walks."
Podcast creators can also use the app to see how many listens their own podcasts are getting and they can interact directly with their audiences, enabling them to crowdsource opinions and ideas for later content.
Goodpods aims to make it easier for listeners to find podcasts they love.
Podcasts have long had trouble gaining new audiences, so there is a market for companies like Goodpods if they can successfully create a revenue model.
"Podcast discoverability isn't a business in itself," said Colin Maclay, a research professor of communication at USC and executive director of USC Annenberg's Innovation Lab. "It may be a feature, but it is not a business by itself. But if you imagine a mixture of a social network with that, then you maybe [can] build toward a business."
Maclay is optimistic that larger players in the podcasting world like Amazon, who recently acquired Wondery, Spotify and Apple, won't crowd out smaller companies like Goodpods. He points to Twitter, which started as a podcasting app, and eventually grew into a much more general social media site.
Ritter, who now runs Breaker, said the advantage companies like his have is that larger players have been more focused on exclusive content rather than the social aspects of podcasting such as sharing and listening — both key to discovery.
"We believe social podcasting platforms continue to have plenty of room to innovate and create unique sharing and listening experiences in the future," said Ritter.
As for the Rambergs, this is not their first venture together. In 2005 they founded Goodshop, an online shopping coupon code site that donates a portion of each sale to charity. It's raised $13 million since it launched, donating to causes from local schools and dog shelters to the American Cancer Society. Ken Ramberg also co-founded JOBTRAK, a college job site which was acquired by Monster.com in 2000.
When asked what Goodpods' plans are moving forward, JJ Ramberg said: "We're still early days. It's not even been a year yet. So we are 100% focused on the user experience and fulfilling the promise that users find great new podcasts, and podcasters find new users."
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Though Silicon Valley is still very much the capital of venture capital, Los Angeles is home to plenty of VCs who have made their mark – investing in successful startups early and reaping colossal returns for their limited partners.
Who stands out? We thought there may be no better judge than their peers, so we asked 28 of L.A.'s top VCs who impresses them the most.
Mark Mullen, Bonfire Ventures<p>Mark Mullen is a founding partner of Bonfire Ventures. He is also founder and the largest investor in Mull Capital and Double M Partners, LP I and II. A common theme in these funds is a focus on business-to-business media and communications infrastructures.</p><p>In the past, Mullen has served as the chief operating officer at the city of Los Angeles' Economic Office and a senior advisor to former Mayor Villaraigosa, overseeing several of the city's assets including Los Angeles International Airport and the Los Angeles Convention Center. Prior to that, he was a partner at Daniels & Associates, a senior banker when the firm sold to RBC Capital Markets in 2007.</p>
Dana Settle, Greycroft<p>Dana Settle is a founding partner of Greycroft, heading the West Coast office in Los Angeles. She currently manages the firm's stakes in Anine Bing, AppAnnie, Bird, Clique, Comparably, Goop, Happiest Baby, Seed, Thrive Market, Versed and WideOrbit, and is known for backing female-founded companies.</p><p>"The real change takes place when female founders build bigger, independent companies, like Stitchfix, TheRealReal," she said this time last year in <a href="https://www.businessinsider.com/greycrofts-dana-settle-on-closing-funding-gap-for-female-founders-2019-12" target="_blank" rel="noopener noreferrer">an interview with Business Insider</a>. "They're creating more wealth across their cap tables and the cap tables tend to be more diverse, so that gives more people opportunity to become an angel investor." Prior to founding Greycroft, she was a venture capitalist and startup advisor in the Bay Area.</p>
Erik Rannala, Mucker Capital<p>Erik Rannala is a founding partner at Mucker Capital, which he created with William Hsu in 2011. Before founding Mucker, Rannala was vice president of global product strategy and development at TripAdvisor and a group manager at eBay, overseeing its premium features business.</p><p>"As an investor, I root for startups. It pains me to see great teams and ideas collapse under the pressure that sometimes follows fundraising. If you've raised money and you're not sure what comes next, that's fine – I don't always know either," Rannala wrote in <a href="https://www.mucker.com/more-funding-wont-magically-fix-your-startup/" target="_blank" rel="noopener noreferrer">a blog post for Mucker</a>. </p><p>Mucker has a portfolio of 61 companies, including Los Angeles-based Honey and Santa Monica-based HMBradley.</p>
William Hsu, Mucker Capital<p>William Hsu is a founding partner at the Santa Monica-based fund Mucker Capital. He started his career as a founder, creating BuildPoint, a provider of workflow management solutions for the commercial construction industry not long after graduating from Stanford. </p> <p><a href="https://www.fastcompany.com/3048173/the-unexpected-and-hard-earned-lessons-from-a-dot-com-flame-out" target="_blank" rel="noopener noreferrer">In an interview with Fast Company</a>, he shared what he learned in the years following, as he led product teams at eBay, Green Dot and Spot Runner, eventually becoming the SVP and Chief Product Officer of At&T Interactive: "Building a company is about hiring correctly, adhering to a timeline, and rigorously valuing opportunity. It's turning something from inspiration and creative movement into process and rigor."</p> <p>These are the values he looks for in founders in addition to creativity. "I like to see the possibility of each and every idea, and being imaginative makes me a passionate investor."</p>
Jim Andelman, Bonfire Ventures<p>Jim Andelman is a founding partner of Bonfire Ventures, a fund that focuses on seed rounds for business software founders. Andelman has been in venture capital for 20 years, previously founding Rincon Venture Partners and leading software investing at Broadview Capital Partners.<br><br>He's no stranger to enterprise software — he also was a member of the Technology Investment Banking Group at Alex. Brown & Sons and worked at Symmetrix, a consulting firm focusing on technology application for businesses.</p> <p><a href="https://dot.la/la-venture-podcast-jim-andelman-of-bonfire-ventures-2648143780.html" target="_self">In a podcast with LA Venture's Minnie Ingersoll</a> earlier this year, he spoke on the hesitations people have about choosing to start a company.</p>"It's two very different things: Should I coach someone to be a VC or should I coach someone to enter the startup ecosystem? On the latter question, my answer is 'hell yeah!'"
Josh Diamond, Walkabout Ventures<p>Josh Diamond founded Walkabout Ventures, a seed fund that primarily focuses on financial service startups. The firm raised a $10 million fund in 2019 and is preparing for its second fund. Among its 19 portfolio companies is HMBradley, which Diamond helped seed and recently <a href="https://dot.la/hm-bradley-2649022900.html" target="_self">raised $18 in a Series A</a> round.</p><p>"The whole reason I started this is that I saw there was a gap in the funding for early stage, financial service startups," he said. As consumers demand more digital access and transparency, he said the market for financial services is transforming — and Los Angeles is quickly becoming a hub for fintech companies. Before founding Walkabout, he was a principal for Clocktower Technology Ventures, another Los Angeles-based fund with a similar focus.</p>
Kara Nortman, Upfront Ventures<p>Kara Nortman was recently promoted to managing partner at Upfront Ventures, making her one of the few women – along with Settle – to ascend to the highest ranks of a major VC firm.</p><p>Though<a href="https://upfront.com/thoughts/announcing-upfronts-new-co-managing-partner" target="_blank" rel="noopener noreferrer"> Upfront had attempted to recruit her</a> before she joined in 2014, she had declined in order to start her own company, Moonfrye, a children's ecommerce company that rebranded to P.S. XO and merged with Seedling. Upfront invested in the combination, and shortly after, Nortman joined the Upfront team.</p><p>Before founding Moonfrye, she was the SVP and General Manager of Urbanspoon and Citysearch at IAC after co-heading IAC's M&A group.</p><p><a href="https://dot.la/moving-from-the-passenger-seat-to-the-drivers-seat-upfronts-kara-nortman-named-managing-partner-2648493740.html" target="_self">In an interview with dot.LA earlier this year</a>, she spoke on how a focus for her as a VC is to continue to open doors for founders and funders of diverse backgrounds.<br></p><p>"Once you're a woman or a person of color in a VC firm, it is making sure other talented people like you get hired, but also hiring people who are not totally like you. You have to make room for different kinds of people. And how do you empower those people?"<br></p>
Brett Brewer, Crosscut Ventures<p>Brett Brewer is a co-founder and managing director of Crosscut Ventures. He has a long history in entrepreneurship, starting a "pencil selling business in 4th grade." In 1998, he co-founded Intermix Media. Under their umbrella were online businesses like Myspace.com and Skilljam.com. After selling Intermix in 2005, he became president of Adknowledge.com.</p><p>Brewer founded Santa Monica-based Crosscut in 2008 alongside Rick Smith and Brian Garrett. His advice to founders <a href="https://crosscut.vc/team/" target="_blank">on Crosscut's website</a> reflects his experience: "Founders have to be prepared to pivot, restart, expect the unexpected, and make tough choices quickly... all in the same week! It's not for the faint of heart, but after doing this for 20 years, you can spot the fire (and desire) from a mile away (or not)."</p>
Eva Ho, Fika Ventures<p>Eva Ho is a founding partner of Fika Ventures, a boutique seed fund, which focuses on data and artificial intelligence-enabled technologies. Prior to founding Fika, she was a founding partner at San Francisco-based Susa Ventures, another seed-stage fund with a similar focus. She is also a serial entrepreneur, most recently co-founding an L.A. location data provider, Factual. She also co-founded Navigating Cancer, a health startup, and is a founding member of All Raise, a nonprofit that supports and provides resources to female founders and funders.</p><p><a href="https://medium.com/@John_Livesay/when-google-bought-my-startup-81f1ee21488c" target="_blank" rel="noopener noreferrer">In an interview with John Livesay</a> shortly before founding Fika, Ho spoke to how her experience at Factual helped focus what she looks for in founders. "I always look for the why. A lot of people have the skills and the confidence and the experience, but they can't convince me that they're truly passionate about this. That's the hard part — you can't fake passion."</p>
Brian Lee, BAM Ventures<p>Brian Lee is a co-founder and managing director of BAM Ventures, an early-stage consumer-focused fund. <a href="https://dot.la/brian-lee-los-angeles-venture-capital-2645125301.html" target="_self">In an interview with dot.LA earlier this year</a>, Lee shared that he ended up being the first investor in Honey, which was bought by PayPal for $4 billion, through investing in founders and understanding their "vibe."</p> <p>"There's certain criteria that we look for in founders, a proprietary kind of checklist that we go through to determine whether or not these are the founders that we want to back…. [Honey's founders] knew exactly what they were building, and how they were going to get there."</p> <p>His eye for the right vibe in a founder is one gleaned from experience. Lee is a serial entrepreneur, founding LegalZoom.com, ShoeDazzle.com and The Honest Company.</p>
Alex Rubalcava, Stage Venture Partners<p>Alex Rubalcava is a founding partner of Stage Venture Partners, a seed venture capital firm that invests in emerging software technology for B2B markets. Prior to joining, he was an analyst at Santa Monica-based Anthem Venture Partners, an investor in early stage technology companies. It was his first job after graduating from Harvard, and during his time at Anthem the fund was part of Series A in companies like MySpace, TrueCar and Android.</p><p>He has served as a board member in several Los Angeles nonprofits and organizations like KIPP LA Schools and South Central Scholars.</p> <p>"Warren Buffett says that he's a better businessman because he's an investor, and he's a better investor because he's a businessman. I feel the same way about VC and value investing. Being good at value investing can make you good at venture capital, and vice versa," Rubalcava said in <a href="https://moiglobal.com/alex-rubalcava-interview/" target="_blank" rel="noopener noreferrer">an interview with Shai Dardashti of MOI Global</a>.</p>
Mark Suster, Upfront Ventures<p>Mark Suster, managing partner at Upfront Ventures, is arguably L.A.'s most visible VC, frequently posting on Twitter and on his <a href="https://bothsidesofthetable.com/" target="_blank" rel="noopener noreferrer">blog</a>, not only about investing but also more personal topics like weight loss. In more normal years, he presides over LA's biggest gathering of tech titans, the Upfront Summit. Before Upfront, he was the founder and chief executive officer of two software companies, BuildOnline and Koral, which was acquired by Salesforce. Upfront backed both of his companies, and eventually he joined their team in 2007.</p><p>In a piece for his blog, "Both Sides of the Table," <a href="https://bothsidesofthetable.com/finding-an-investor-who-is-in-love-with-you-d0badf1a3998" target="_blank" rel="noopener noreferrer">Suster wrote about the importance of passion</a> — not just for entrepreneurs and their businesses, but for the VCs that fund them as well.<br></p><p>"On reflection of the role that I want to play as a VC it is clearly in the camp of passion. I really want to start my journeys only with people with whom I want to work closely with for the next 5–7 years or more. I only want to work on projects in which I believe can produce truly amazing change in an industry or in the world."</p>
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