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Pitch Deck Teardown: Queerie’s $300K Pre-Seed Platform

Queerie is a dating app specifically for LGBTQIA+ people. It’s a very early-stage company that has only raised $300,000 — a round size that typically falls into the “friends and family” category.

Dating is a competitive field with a lot of M&A activity happening over the years, so I was eager to take a closer look.

We’re looking for more unique promotional materials to tear down, so if you’d like to submit your own, here’s how.

Slides in this deck

Queerie shared its full, unedited, 13-slide pitch with TechCrunch.

  1. coverslip
  2. Cover slide part 2
  3. task slides
  4. question slides
  5. Solution Slides
  6. Market size slideshow
  7. How slideshow works
  8. Traction slide
  9. Competition Slideshow
  10. Team slides
  11. Funding Request and Usage Slides
  12. 6 years (!) financial status
  13. Contact slide

There are a few things to love about Queerie’s pitch deck

My first impression of Queerie’s deck was that it felt fresh and fun. The use of language and graphics is clean, simple, and engaging. A great starting point for consumer brands!

Lead with mission

[Slide 3] I love a good rallying cry. Image Source: Quarry

If you strive to make the world a better place, then you perhaps Will attract like-minded investors. So why not clearly state your mission? This is a powerful storytelling technique that is put to great use in the Querie deck.

talk about a tough issue

[Slide 4] This is certainly a problem worth solving. Image Source: Quarry

This slide of questions gave me pause: it reminds us that isolation and mental health challenges are prevalent in queer spaces in many places.

The company no longer positions itself as a dating app but as a solution to loneliness. Whether investors will buy it and whether the app is the right solution to the problem the company identified are separate questions. To be sure, however, the problem Querrey outlines is one worth solving.

Four things Querie could improve

I really want Querie to exist, so it pains me to see the company promoted in a way that makes it essentially unfundable.

Is this the right team?

I see at least one dating app being promoted every month, and it makes sense: Dating and finding the right partner is an important part of many people’s lives, and it seems like such an easy thing to do. better one than the current situation.As a result, many startup founders have a lot of Experience in the Dating World.

[Slide 10] Hello Kurtis. Image Source: Quarry

But where are the women? For a company that’s building an “inclusive design platform,” this seems like an oversight.

There are some interesting experiences here, but most people seem to be pretty much the same also A veteran of the startup. I know this complaint is rare, but one of the CTOs has been a website reliability engineer at Google for 18 years. This is a very specialized job, and while scaling an application like Queerie is important, I find myself wondering how much overlap there is between scaling Google’s infrastructure and scaling a website like Queerie.

Overall, from reading the team’s LinkedIn profile and what’s on this slide, I find myself concluding that they might be able to build a very good, well-functioning app with a good user experience, but this Not enough to build a successful company. There was a huge gap in sales and marketing, and the team as a whole didn’t have much entrepreneurial experience. If this slide could add an experienced marketer with experience in consumer marketing applications, I think the team would be more credible from the start.

This just describes a dating app

I really don’t understand what this slide is trying to achieve:

[Slide 7] Yes, this is a dating app. Image Source: Quarry

This slide is a bit of a waste. It doesn’t reveal the secret to why Queerie has succeeded where other companies have failed. There’s nothing new or innovative here.

The slides in your pitch deck should help investors decide to invest. If someone reads this slide, and it might be neutral (or even negative), it’s best to leave it out.

This is not traction

[Slide 8] This doesn’t really show appeal. Image Source: Quarry

The company says it has a “closed version of the mobile app,” but the 13-slide slide doesn’t contain a single screenshot of the app. The company says it has 95 beta testers, which is great, but that’s not really the “traction.” Traction will be how these testers interact with the platform. Do they pay? What are the DAU/MAU (Daily/Monthly Active Users) statistics?

I’m writing this on March 31st, which is the last day of Q1 2024, so I’m confused why the company said it surveyed 3,000 people in Q2 2024? The company also said it planned to expand its initial user base with “strong growth” in the third quarter, but later said it would launch the app in June, the second quarter. It’s not a big deal, but it’s a little confusing.

Fundamentally it’s not a startup scale

This slide describes how fast the company wants to grow, but it also raises some red flags.

[Slide 12] This is not a startup. Image Source: Quarry

After the first year, the company plans to spend only $40,000 per year on application development. There’s not even a half-decent part-time developer to be found. For a tech startup, this is a terrible oversight: Doesn’t the company plan to continue developing its app?

Growth here is just too slow. The company said it will acquire 1,000 users in the first half of 2024 and reach 20,000 monthly active users by the end of the year. Then, the growth rate suddenly drops to “merely” doubling in 2025 and doubling again in 2026. For high-growth, early-stage startups, these numbers are scary. Startups typically want to grow 10% per week in the early stages. If you start with 1,000 users, after a year of 10% week-on-week growth, you should have around 130,000 users:

Based on 1,000 users, 10% weekly growth is shown below. Image Source: TechCrunch/Hajj Campos

To make matters worse, however, based on its current six-year financials, Queerie projects revenue of just under $10 million by 2029. This is pretty discouraging and suggests the founders don’t have particularly aggressive growth plans. Its own data shows it expects only about 15% of its customers to pay $8 a month.

Elsewhere on the deck, the company said that “as we raise more capital, our mobile app will allow us to expand to more cities,” which is great, but the financial overview doesn’t show that the business is undergoing more changes. multiple rounds of financing, so it’s unclear when or how much the company plans to raise.

In short, this slide shows that Queerie may be a reasonably successful lifestyle business, but I’m worried that no investors will want to take it on as an investment; it’s so unambitious and shows that the company’s founders don’t understand What is expected of them as a startup founder.

Complete pitch materials

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