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How River is Disrupting the Event Software Category
Also: why market leaders shouldn't punch down
Hey there đ
Just a reminder thatâs itâs okay to give yourself a break. I used to publish these newsletters every week and got pretty burnt out after a year. So I moved to publishing bi-weekly and it made a huge difference!
Do what you have to do and chill out every once in a while. Or switch up what youâre doing to keep things fresh.
e.g. Iâve been focusing a lot more on bringing high-quality Q&As to this newsletter lately, and itâs been a lot of fun. Feels a lot better collab-ing with others as opposed to just writing by myself.
AnywayâI hope this renewed energy comes across as youâre reading!
Q&A đ
How River Is disrupting the Event Software category
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âTell me the origin story of River and the gap that you saw in the marketâ
It was a total accident. Iâm a huge fan of the All-In podcast and wanted to host a listening party for their 100th episode last year. I tweeted a sign-up form for folks in other cities to host, and it went viral after one of the podcast hosts (Jason Calacanis) retweeted it. By the time the episode was published, we had 24 cities hosting listening parties on the same day around the world!
Six months later, everyone wanted to do another event for episode 125. But it was so much work with the tech stack we had in place. There was no easy way to find hosts, check to make sure they were engaged, and keep attendeesâ sensitive data private all at the same time. Still, we gave it a shot and managed to host another listening partyâthis time in 50 cities around the world.
But we only managed to make it work with a lot of people involved. We passed that feedback along, and Jason Calacanis ended up offering us $100k to build software to manage these in-person events instead. We took it, started building River, and have since supported other podcastsâ meetups like My First Million and The Tim Ferriss Show!
âHow do you differentiate River from established competitors in your space?â
Luma and Partiful assume that hosts want to initiate and own all of their eventsâso they donât have any permission layers, reminders, automations, dashboards, etc., at scale.
With River, we give businesses and creators an opportunity to essentially franchise their branded events. They maintain control though by crowd-sourcing the hosts themselvesâthe only way an event takes place is if a host applies and gets approved by the business or creator themselves.
This allows as many events as possible to take place that effectively capture all the energy generated by the creator, brand, or influencer the event is based around.
âWhat are some of the biggest challenges you've faced while trying to disrupt the market? How have you tackled them?â
Everyone else in our space has raised a ton of money. Partiful, for example, raised a $20M series A, whereas weâve only raised $150k in angel funding.
So weâve had to be ruthlessly scrappy about solving the problem of scaling events. As a result, weâre lacking a bit of the polish that youâd see from a tool like Luma. Once we close our pre-seed round, thatâll allow us to start developing the quality-of-life features that everyone expects.
But today, we can solve a lot of problems for Community Managers specifically. Just last year, for example, Superteam used Luma to host 20 events. This year, they launched with River and have hosted 500 events.
Community Managers know that thereâs no way they could do 500 events on Lumaâtheyâd have to hire a team of 10 to make that happen.
âWhat's one insight or lesson learned that's been critical to your competitive success?â
Most founders are software engineers who look down on sales and marketing. They just think âif you build it, they will come,â or you can just launch on Product Hunt and call it a day.
Itâs just not true. Knowing how toâŠ
launch a website
build an audience and funnel
create a compelling call to action
come up with positioning and messaging
send DMs to billionaires thatâll actually get read
âŠare all skills that marketers have, and skills that we really lean on at River. That, coupled with being ruthlessly focused on our product, has allowed us to land some pretty big customers and gain a lot of attention.
Trivia Break âïž
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JUICY SCOOPS đ§
Whatâs happening now
đ€ | Amazonâs developing a ChatGPT competitor [more]
đș | Streaming platforms mull ways to differentiate [more]
đ | Retailers are trying to steal Prime Dayâs thunder [more]
đŹ | Microsoft is in hot water for its bundling of Teams [more]
đ | Casual-dining restaurants are taking on fast-food rivals [more]
đ | This new AI-powered search engine is going after Perplexity [more]
EXAMPLES đ
Your weekly dose of vitamin C(ompete)
Donât punch down if youâre a market leader.
Heard of Hydrox? Probably not. Theyâre the ORIGINAL Oreo that were first manufactured in 1908.
When Oreo came along in 1912, Hydrox did the worst thing they could have possibly doneâpublicly acknowledged them in a marketing campaign. This only educated their target audience of a new competitor, and the rest was history.
COMPETE GEEKS ONLY đâ
From the Community
Here are a couple threads that got folks talking this week.
âWait, whatâs the Healthy Competition Community again?â
Itâs where 100+ Product Marketers and Competitive Intel practitioners connect and share tips to help each other win.
ICYMI đ
Here are the most popular Q&As Iâve published:
Asanaâs Head of Compete: No one wants your research
RevenueHeroâs Head of Marketing: Be a partner; not a vendor
Procoreâs Competitive Strategy Lead: 3 traits of exceptional competitive intel
Stay Healthy, my friends.
đAndy
PPS: wanna keep the party going? Here are some more goodiesâŠ
Check out my swipe file (free). It has all my fav competitive marketing examples.
Get paid what you deserve (free). 100+ practitioners shared their anonymous salary data with me. It should be especially helpful if youâre looking for a new CI role or negotiating a raise.
Level up your tech stack (free). I made a directory of recommended software and agencies to help you research competitors, differentiate, and learn why you win or lose.
Listen or watch my podcast, Ready for Launch (free). I compete against my co-hosts, Jason and Tamara, to bring you the most interesting product launches.
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