I Love Reading

Hi Kat, reading and literacy are so important and top of mind for educators, teachers and parents alike! You have identified a problem and solution, outlined your team and provided some insight into competition. What would get my full attention is a breakdown of budget allocation/use of proceeds on the the $1M ask. In addition, listing competitors is a good start, but since I know the market is hot, and will be highly competitive, I'm wondering how I Love Reading will differentiate itself and specifically what are the competitive strengths that can be translated into barriers to entry. With thanks,

One of the biggest strengths of this venture is the passion behind it! This passion and commitment is exhibited throughout both the elevator and venture pitch! Well done! All of the venture pitch areas are highlighted within the pitch, but the $1,000,000 request is seemingly unreasonable as it is not explained how it will be used. More explanation about how this million dollar investment is intended to be used to design, promote, and support the app in the global market is needed in order to convince the potential investor to get on board. {In my own pitch, I used this tool here: http://howmuchtomakeanapp.com/ to help determine the cost for the design of an app. The I Love Reading app is more complex than mine and is also seeking a global market, so more expenses would ensue. This tool may help in deriving a break down to your investment request.} Well done, overall!

Feedback – Hey Kat, I love how you hit us in your elevator pitch with the market you are gunning for - the “millions of kids reading every night”. I think it is key to point out asap who it is you are targeting. I also love the idea of creating partnerships between different companies and it can produce a whole new opportunity. My only concern of question is connected to your ask, 1 mission to just “improve” the I Love Reading app. Even though it’s just the elevator pitch maybe some specifics about how you want to improve it would sound better to potential investors. Great job! Brian

FEEDBACK: Hahaha... that Support Padlet at the end is great. Good work all around, Kat! You hit all the key areas; probably the biggest wish would be in seeing more details, and as an investor, I would be interested in seeing how I Love Reading exists as its own venture exclusive of Raz Kids or Remind. What happens if they want to back out of the partnership, or create a similar product or service on their own? Also, it would be worth explaining how this partnership would affect I Love Reading's revenue. Do the other companies get a cut of that revenue? - Scott

The ask in the elevator pitch doesn't come with any numbers. Without knowing better, it could seem like a call for a donation, child literacy is important. The return in the venture pitch is also a little confusing, as it seems that the 76% profit goes directly to whoever invests $1 Million. Calculating out some speculative numbers for returns would also be beneficial. It seems like a great product, the partnered apps are great products already that I enjoy learning. Good job