quarterly update 🌞

music icon, Jimmy Iovine was walking on the beach when he saw his buddy Dr. Dre sitting on his oceanfront patio 🌊

Dr. Dre invited Iovine to come upstairs, and he began to tell him about a sneaker venture that wanted his endorsement 👟

Iovine responded, "f**k sneakers, you should do speakers"

a week later, the first prototype for Beats by Dre was created, and we all know how that story ended 💰💰

for startups, progress and change come quickly and unexpectedly; this week we'll be checking in on past startups we’ve covered

📈 startup success: many of the startups we covered this quarter are seeing...

💪 bulletpitch boom:

it was an eventful summer for POSH

additionally, POSH has been used for events on 6 continents 🌍

Xoma is actively seeking an alcohol brand, distributor, or importer of spirits to potentially acquire the company

true story: we brought a bottle of Xoma to a dinner party this summer; it was finished so quickly it made the rosé look bad 🥂

Next Gen HQ is launching some major products and updates including revamped learning curriculum and delivery, networking features, and more

the company is opening a fundraising round with limited allocation for new investors

Whipnotic can be found in 22 states and 200+ stores

the company has been creaming its competition, turning shelves 3x faster than other brands

since launch, Summer has built an email list of 15k interested individuals and has signed one new customer a week

Summer also launched two new houses on their platform: Treasure Drive and Park Avenue

the product was officially unveiled at a show in NYC; you can check out the product here

the starting price to buy the digital canvas: $34k

🤳 creator economy: VCs are ramping efforts to invest directly in today's 50m content creators; we're equally bullish on the tools and platforms that allow creators to make content easier than ever

🏘 proptech: the industry is hot, just ask Adam Newman who raised a casual $350m for his new startup; while the housing market is seeing a drop after record highs, we've noticed continued interest in software that enables subletting, rentals, automated tenant management, and to foreshadow next week's letter: community interaction

🎆 NFTs: the NFT market is oversaturated, with the average sale price dropping more than 92%; while we are bearish on PFP NFTs, we're keeping an eye on products that connect NFT technology and tangible solutions like event tickets, certifications, and trading cards

👏🏽 PumpML, a software company that allows developers to make devices responsive to non-voice sound, changed its name to WAV AI and just closed a check from 1517 fund, bringing their total amount raised to $675k

👨🏽‍💻 beehiiv, a newsletter platform that provides tools for creators to send out customized content, raised an additional $1.6m

🍽 Tablz, a restaurant booking platform that allows diners to reserve specific tables through a 3D view of the restaurant, raised $2.5m and loved their weekly bulletpitch cartoon so much, they've made it their LinkedIn backdrop

📷 BeReal, a social media platform where users have two minutes to capture a candid photo, was put on our radar when they were only on two college campuses; today, BeReal's popularity has forced Instagram and TikTok to try and compete