- Please enter the url of a 1 minute unlisted (not private) YouTube video introducing the founder(s).
- Who writes code, or does other technical work on your product? Was any of it done by a non-founder?
- How long have the founders known one another and how did you meet? Have any of the founders not met in person?
- Please tell us about an interesting project, preferably outside of class or work, that two or more of you created together.
- Please tell us in one or two sentences about something impressive that each founder has built or achieved.
- Please tell us about the time you most successfully hacked some (non-computer) system to your advantage.
- How far along are you?
- How long have each of you been working on this? How much of that has been full-time?
- When will you have a prototype or beta?
- How many active users or customers do you have? How many are paying? Who is paying you the most, and how much do they pay you?
- We're interested in your revenue over the last several months. (Not cumulative and not GMV).
- Anything else you would like us to know regarding your revenue or growth rate?
- If you are applying with the same idea as a previous batch, did anything change? If you applied with a different idea, why did you pivot and what did you learn from the last idea?
- If you have already participated or committed to participate in an incubator, "accelerator" or "pre-accelerator" program, please tell us about it.
- Why did you pick this idea to work on? Do you have domain expertise in this area? How do you know people need what you're making?
- What's new about what you're making? What substitutes do people resort to because it doesn't exist yet (or they don't know about it)?
- Who are your competitors? What do you understand about your business that they don't?
- How do or will you make money? How much could you make?
- How do users find your product? How did you get the users you have now? If you run paid ads, what is your cost of acquisition?
- Have you formed ANY legal entity yet?
- Please list all legal entities you have and in what state or country each was formed (e.g. Delaware C Corp, Mexican SAPI, Singapore Pvt Ltd, etc.).
- Please describe the breakdown of the equity ownership in percentages among the founders, employees and any other stockholders. If there are multiple founders, be sure to give the equity ownership of each founder and founder title (e.g. CEO).
- Have you taken any investment yet?
- How much money do you spend per month?
- How much money does your company have in the bank now?
- How long is your runway?
- Is there anything else we should know about your company?
Simple Habit YCombinator Application
Simple Habit successful YCombinator application from 2017 winter batch (YC W17).
Describe what your company does in 50 characters or less.More responses
5-minute meditation app. Spotify for meditation.
What is your company going to make? Please describe your product and what it does or will do.More responses
We built an iOS app that offers 5-minute meditations for life situations throughout the day. For example, meditations to reduce anxiety before a meeting, improve focus at work, and sleep better. Meditations are recorded by top meditation teachers from all over the world — we currently have over 100 teachers on our platform and are listened to by [redacted]. Our goal is to build the world's leading platform for mindfulness and meditation content. We want to help millions of people learn to live more mindfully and be more resilient.
How far along are you?More responses
I started the company in Feb 2016 and launched the iOS app in June 2016. In just 3 months, we are reaching close to 100K downloads on our iPhone app. 5% of sign-ups end up paying for a subscription that costs about $12 a month. [Redacted.] Our week-over-week growth rate is [redacted]. We are currently developing Android — expected release date for November. Simple Habit has already been featured by Apple 5 times and written about by media extensively.
How long have each of you been working on this? How much of that has been full-time?More responses
We've been working on the company for 8 months (since February 2016). We have ~40k lines of code for all our platforms combined.
How many active users or customers do you have? How many are paying? Who is paying you the most, and how much do they pay you?More responses
Since our launch in June 2016, we've had 85k sign ups. Our weekly [redacted].
We're interested in your revenue over the last several months. (Not cumulative and not GMV).More responses
We made [redacted] last month in September. We make [redacted] as of today, so we're expecting to make [redacted] in October.
What is your monthly growth rate?More responses
User growth rate was 95% last month ([redacted] MRR growth rate was [redacted]).
Why did you pick this idea to work on? Do you have domain expertise in this area? How do you know people need what you're making?More responses
After graduating from Duke in 2011, I worked in investment banking and later founded my first startup, Locket (eventually I sold Locket to Wish). I raised $3m+ for the company and I became more stressed than ever. I tried lots of stress-relief products at the time: massages, lavender pillows, silent retreats and other meditation apps. Meditation worked best for me, and while I liked the meditation apps currently on the market, I didn't like how most apps were one teacher/personality based. I wanted to be able to browse through different types of teachers and teachings and make meditations bite-sized so busy professionals could use it. I built Simple Habit to really serve my needs. Since launch, we had thousands of users who suffer from stress, anxiety, depression tell us how our app has changed their lives. Check out our app store to see their raving reviews! https://itunes.apple.com/us/app/simple-habit-mindfulness- meditations/id1093360165
What's new about what you're making? What substitutes do people resort to because it doesn't exist yet (or they don't know about it)?More responses
In contract to Headspace and Calm who have launched a single 'channel,' we're launching a marketplace — a platform for mindfulness, offering a continuously updated stream of meditation content from a variety of teachers. We're the first to create a meditation platform that curates content from hundreds of high-quality mindfulness professionals and charge subscriptions for access. We're also the first to introduce a Spotify-like business model to the meditation space. Mindfulness teachers are paid a portion of our subscription revenue commensurate to the number of times their content is listened to. Users get access to meditation content that is diverse in personality and topics. Silent retreats and in-person meditation studios are other alternatives, but they aren't accessible to all busy working professionals financially or temporally.
What do you understand about your business that other companies in it just don't get?More responses
There are two things that companies in our space don't get: 1) Our competitors don't get that users experience meditation fatigue from listening to the same voice/personality over and over again. In other words, they start to tune out. Imagine if Spotify or iTunes only carried one band. One's enjoyment of music would diminish over time. Similarly, the effectiveness of meditation on a listener diminishes over time as they get accustomed to the techniques and personality of the same meditation teacher. 2) Our competitors also don't understand that teachers can be a powerful channel for user acquisition. The key to developing this channel is to focus on creating a great experience for meditation teachers. This includes setting up the right financial incentive structure for teachers and building them tools that enable and encourage them to be an evangelist of Simple Habit.
How do or will you make money? How much could you make?More responses
In the US alone, 18M people are meditating (reported by Forbes), and this number keeps increasing every year. Capturing [redacted] of these users is a [redacted] business at our current subscription pricing. However, we consider this just the start of what we can do. According to research by IBISWorld, the meditation and mindfulness industry ranked in nearly $1 billion in 2015. The space is growing very rapidly. More than 22% of employers currently offer mindfulness training for their workforce. However, meditation and mindfulness is just the tip of an iceberg. We believe there are a LOT of ways to monetize a large audience of people who trust our company to guide their activities around their health. We'd like to take on larger market of mental health, stress relief and health & wellness which is a trillion dollar industry.
Have you taken any investment yet?More responses
After launch, I've taken on [redacted] additional investments into the company as a convertible note at a [redacted].
What convinced you to apply to Y Combinator? Did someone encourage you to apply? Have you been to any YC events?More responses
Y Combinator has an incredible network of entrepreneurs and mentors — many of whom have used Simple Habit and directly fall into our target audience. Being part of YC would be an impetus of growth in terms of learning from the community and attracting the best talent. I'm at Stanford GSB right now and I'd happily consider dropping out for YC.
How did you hear about Y Combinator?More responses
So many of my friends have gone through Y Combinator and they rave about it. Founders of Gusto, Flexport, Weave, Muse, Experiment, Tenjin, Innerspace, ProductHunt, Memebox.