20VC Why The Evolution of Digital Media Presents A Multi $Bn Opportunity with Brit Morin, Founder & CEO @ Brit + Co

In this episode of the 20 Minutes VC, host Harry Stebbings interviews Britt Morin, founder and CEO of Brit + Co, an online platform that encourages creativity among women and girls. Morin shares her journey from working at Google and Apple to starting her own company, which has seen substantial growth and reaches over 80 million people monthly. She discusses the challenges and strategies of growing a digital media company, the importance of video content, and the evolving landscape of media with the rise of social platforms. Morin also touches on fundraising, emphasizing the significance of strong metrics and a solid team, and her aspiration to build a global brand akin to Disney. The conversation also covers the shift in traditional media, the potential of subscription models for content, and the value of niche communities in building mass appeal.

• Harry Stebbings introduces the podcast and welcomes listeners back.
• The episode is part two of a feature on power couples in tech.
• Britt Morin, founder and CEO of Brit + Co, is introduced as the guest.

Hello and welcome back to the 20 Minutes VC with your host Harry Stebings at h Stepbings on Snapchat.

Today we return for part two of our feature of power couples in tech. And following from our episode with Dave Morin, I'm delighted to welcome his better half, Britt Morin.

Harry Stebbings introduces the podcast and sets the stage for the episode, which focuses on power couples in the tech industry and introduces Britt Morin.

• Britt Morin is the founder and CEO of Brit + Co.
• Brit + Co is an online media and e-commerce platform.
• The company aims to inspire and enable creativity among women and girls.
• Brit + Co has raised funding from prominent investors, including Index, General Catalyst, Intel Capital, Founders Fund, and Lerer Hippeau.

Britt is the founder and CEO at Brit + Co. The online media and e-commerce platform that provides tools to teach, inspire, and enable creativity among women and girls. And they've raised funding from some of the world's best investors, including Index, General Catalyst, Intel Capital, Founders Fund, and Lerer Hippeau, just to name a few.

The note summarizes Britt Morin's role and the mission of Brit + Co, as well as highlighting the significant investors backing the company.

• Britt worked at Google in product management.
• She also worked with Apple on iTunes.
• Harry Stebbings thanks Dave and Britt Morin for participating in the podcast.

As for Britt, prior to Brit + Co Britt worked at Google in product management and before that with Apple on iTunes.

The note outlines Britt Morin's professional background before founding Brit + Co, mentioning her experience at Google and Apple.

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• Britt Morin shares her journey from being a creative individual to working in tech.
• She was involved with Google TV at Google, which was part of YouTube.
• Britt observed the resistance of traditional media companies to digitize content.
• The contrast between traditional media and the digital content creators on YouTube inspired her.
• Britt took time off after leaving Google and discovered TechShop, which rekindled her creativity.
• She noticed a trend of women feeling uncreative despite their interest in creative content on Pinterest.
• Britt identified a gap in education around domestic skills for women.
• Brit + Co was founded to provide inspiration and tools for a creative lifestyle.
• The company now reaches over 80 million people a month.

Britain Co. Really goes back to my, essentially, you know, where I was a really creative person... And then I got swept up by technology as a teenager... I was charged with launching Google TV at Google... What was crazy was none of them felt like it was a good idea to digitize their content... Meanwhile, back on YouTube, it was millions of millennials in their bedrooms, uploading video content almost every day... And I just saw that dichotomy of what media was at that time... I found a place called TechShop... My mind was just blown by how easy it was to be creative... And Pinterest had just launched that year... And the number one thing every woman was pinning was like, creative stuff... And I realized that this is the first generation of women who have grown up largely with digital tools at their disposal, but not with a lot of education around domestic skills... And that's really the inception of Brit + Co.

Britt Morin describes her personal journey and the realization that led to the founding of Brit + Co, identifying a market need for empowering women to embrace their creativity.

• Brit + Co experienced rapid growth in the early years, with five to tenfold increases.
• More recently, the growth has been steady, with approximately threefold increases year over year.
• The business shows seasonality, with spikes during holidays and declines afterward.
• Britt Morin initially found the seasonality concerning but later understood it as a natural pattern.

I would say year over year... it was probably like five to ten x growth just because of starting from nothing... The past two or three years has been very steady, almost three x growth year over year... What freaked me out, to be quite honest, was the seasonality of the business... And then after you have a couple of years of data, you just start to realize your content is seasonal.

Britt Morin discusses the growth patterns of Brit + Co, emphasizing the initial rapid expansion and the subsequent steady growth, as well as addressing the challenges of seasonal fluctuations in traffic and business.## Evolving Content Strategy

• Britain Co. experienced seasonality in content engagement but has since flattened it by diversifying their content.
• The company evolved from focusing on seasonal content to a broader range of topics, avoiding sharp declines in user interaction.

"At that point, we've flattened out that seasonality quite a bit by evolving into broader types of content."

This quote highlights the strategic shift from seasonal to diverse content to maintain consistent user engagement throughout the year.

• The media landscape has undergone significant changes, particularly in the last twelve months.
• Traditional media companies and startups alike are adapting to the rise of social networks as new distribution platforms.
• Media companies now publish content natively on platforms like Facebook and Pinterest, which may limit user traffic back to their own sites.

"The last twelve months have actually been some of the more pivotal months for all media companies, from the startups to the Disney's of the world who have been around for 100 years."

The quote emphasizes the critical period of transformation that media companies have faced recently, affecting both new and established organizations.

• Media companies face the challenge of maintaining a distinct brand identity on social media platforms due to limited control over design and user experience.
• Monetizing content across various platforms is essential for media companies to succeed.
• Creative teams play a crucial role in ensuring content reflects the brand's unique aesthetic and voice.

"We have now been able to monetize it. So as long as we can monetize across these platforms and create a significant brand that's different than all the other media brands that you're consuming, I think that's the biggest fear of all..."

The quote discusses the importance of monetizing content on various platforms while maintaining a unique brand identity to stand out in the digital media space.

• The convergence of video and television is a major industry focus, presenting opportunities for new media companies to emerge as leaders.
• The shift of advertising dollars from television to digital platforms is prompting a transformation in content creation and business models.
• High-quality video content production is key to capturing a new generation of consumers.

"Right now the biggest talk in the industry is all around video and television and the convergence of the two..."

This quote reflects the industry's current focus on the blending of video and television, highlighting the potential for new media companies to grow significantly in this space.

• Diversifying revenue streams is critical for media companies amidst industry changes.
• Britain Co. has three main revenue streams: advertising-funded media, paid online education content, and e-commerce with branded products.
• Multiple revenue streams help media companies navigate the shifting landscape and reduce risk.

"The diversification of revenue is all the more important with all these changes happening."

The quote underscores the strategic importance of having multiple sources of income for media companies to withstand the volatile media environment.

• Subscription-based content models have historical precedence and can be successful if executed well.
• Such models require a different strategic approach, including content protection and potential trade-offs in brand building.
• Britain Co. aims for mass appeal and awareness, which influences their choice of monetization strategy.

"I'm a huge fan of it. I think that there are pros and cons of doing it, and it depends on the type of brand you want to build."

This quote reveals the speaker's positive view of subscription models while acknowledging the need for a tailored approach based on brand objectives.

• Niche communities offer high engagement and willingness to pay for content and products.
• Media companies starting today should consider focusing on niche communities initially.
• Britain Co. balances mass appeal with a niche focus by covering a wide range of lifestyle verticals through a utilitarian, creative approach.

"I think niche communities are amazing... if you are starting a media company today, you should absolutely consider starting with a niche community..."

The quote suggests that targeting niche communities can be a powerful strategy for new media companies, offering the potential for strong engagement and revenue.

• Growing from a niche community to mass appeal requires staying true to core values and mission.
• The speaker emphasizes the importance of maintaining a consistent brand message and mission even while expanding content verticals.

"That's been nice for us as we have needed to grow, obviously, as a growing startup, but stay true to our values and our mission as well."

This quote reflects on the balance Britain Co. has struck between growth and adherence to their foundational principles during their expansion from a niche to a mass audience.## Designing Media Products

• Understanding how to design media products for different platforms is crucial for user engagement.
• It is important to program content that keeps users engaged, including A/B testing headlines and images.
• Data collection over the years helps to understand content trends, such as Halloween content trending in July.

"There's like technical lessons, right, of just how to design media products for mobile and for desktop to create engagement and drive traffic and audience thinking about how to keep your user engaged on the site."

This quote explains the technical aspect of media product design, emphasizing the importance of creating engagement and driving traffic across platforms.

• Analyzing data trends is key to programming content strategy effectively.
• Video content is a current focus, with an emphasis on understanding user engagement and sharing behavior.
• Evergreen content, such as Halloween costume ideas, remains relevant and trends year over year, reducing the need for constant new content production.

"So we've been able to program our content strategy around those time periods."

This quote highlights the strategic use of data to align content production with user interest trends.

• Print journalism is considered an art form with a focus on storytelling and layout.
• There is a belief that print journalism will continue to exist despite the rise of digital media.
• Blogs and Wikipedia are seen as lower quality offshoots of print journalism, suggesting a quality disparity between print and digital content.

"I still believe that print journalism is an art."

This quote reflects the speaker's view of print journalism as a valuable and enduring art form, distinct from digital media.

• Fundraising is a critical but challenging aspect of running a company.
• Early-stage fundraising often hinges on the team and the 'X factor' of the founder.
• As a company grows, fundraising becomes more data-driven, with metrics and progress being key factors for investors.
• The quality of the company and its founders is paramount, regardless of gender or other demographics.
• The fundraising process allows for long-term vision planning and can be both exciting and time-consuming.

"Fundraising is always the sexy topic."

This quote introduces the topic of fundraising, indicating its significance and complexity in the business world.

• The speaker addresses the question of being a woman in business and emphasizes that great metrics and founders drive investment decisions.
• The fundraising journey has evolved, with digital media companies now being taken more seriously by investors.
• Media businesses are proving capable of significant revenue, challenging previous misconceptions among investors.

"Investors are going to invest in companies that have great metrics and great founders, and if you have those two things, you will be set up for success, whether you're a woman, man, black, white, asian, whatever."

This quote emphasizes that success in securing investment is based on company performance and leadership quality, not on demographic factors.

• The speaker shares personal favorites, such as the book "The Giver" by Lois Lowry, which has had a lasting impact since childhood.
• Mentors play a significant role in personal and professional development, with Dave being a key mentor for the speaker.

"I'm going to go old school with the giver."

This quote reveals the speaker's favorite book and hints at its influence on their perspective on society and emotions.

"Honestly. I mean, Dave is an amazing mentor to me."

This quote acknowledges the importance of mentorship and the impact Dave has had on the speaker's life and career.## Inspiration from Silicon Valley Women

• Britt Morin expresses admiration for women in Silicon Valley who have supported and inspired her.
• Mentors like Aileen Lee and Tina Sharkey have provided extensive guidance and encouragement.
• Women from the Gen X generation have paved the way for millennial founders and entrepreneurs.
• These women have achieved success while maintaining a strong presence in their respective fields.

And of know, it's women like Cheryl Sandberg who get a lot of that notoriety. But it's also kind of some of the women who are more behind the scenes, like Aileen Lee and Tina Sharkey, who have literally been with me for hours on end to help me build this business and to support me and cheer me on from the sides.

Britt Morin acknowledges the influence of women like Cheryl Sandberg and highlights the significant, albeit less publicized, contributions of Aileen Lee and Tina Sharkey to her business and personal growth.

• Britt Morin enjoys reading 'The Information' for detailed insights about Silicon Valley.
• She follows 'Digite' for its coverage of the media landscape.
• Morin is a fan of 'Vox', particularly their video content, for its informative and concise nature.
• She appreciates media brands that prioritize quality content over quantity.

I actually do really love the information. I think Jess has done a fantastic job with that. I get really detailed context about what's happening in the valley.

Britt Morin praises 'The Information' for providing detailed context on Silicon Valley, reflecting her interest in staying informed about industry happenings.

• Britt Morin experienced extreme emotional highs and lows in the early stages of her entrepreneurship.
• She learned to anticipate the fluctuating nature of business and the importance of maintaining emotional equilibrium.
• Managing emotions became key to leading her team and company effectively.
• Britt suggests that embracing the cyclical nature of good and bad times is crucial for stability.

How to balance your emotions. Literally, in the first year or two, I went back and forth between thinking I was the most brilliant person in the world to being near suicidal.

Britt Morin candidly shares the emotional challenges faced during the beginning of her entrepreneurial journey, emphasizing the need for emotional balance.

• Britt Morin is excited about the upcoming changes in the media world and the position of Britain Co.
• The company has growth options, including profitability, raising more funds, or positioning for acquisition.
• Morin is enthusiastic about exploring video content and possibly television.
• She is considering new product categories for Britain Co.
• On a personal note, Morin aims to raise her sons with respect for women and a balanced online-offline life.
• She looks forward to mentoring and investing in other entrepreneurs, living by the slogan "live what you love."

Gosh, I think the next twelve to 24 months in the media world is going to be quite a spectacle. I'm extremely excited about it because I think we are in a really great position.

Britt Morin expresses optimism for Britain Co.'s future, highlighting the strategic position of the company in the evolving media landscape.

• Britt Morin thanks Britt and Dave for their contribution to the show.
• Cooley is recommended for founders in need of legal services for startups.
• Cooley specializes in financing, mergers and acquisitions, and IPOs, with a strong track record since 2005.
• The speaker endorses Eve, a direct-to-consumer mattress company, for their product and customer-friendly trial period.

Cooley are one of the market leaders in working with thousands of amazing entrepreneurs and newly formed companies to ensure that they're structured for growth and long term success.

The speaker advocates for Cooley's legal services, emphasizing their expertise in supporting entrepreneurs and startups for successful growth and ventures.