Jason calacanis instagram black app1/2/2023 ![]() ![]() Racket aims to reduce that friction by shortening the format, making the editing process dead simple and building around discovery from the get go. “It’s nearly impossible for new podcasts to break through.” “Having this really really narrow set of people making this content is kind of strange,” Petersmith said. The Racket team believes there are barriers to entry in audio that hold the medium back. In a conversation with TechCrunch, Petersmith compared podcasting to other genres of content creation, arguing that if 100 million people make videos on TikTok and right now we’ve only got 1 million people podcasting then audio is nowhere near maturity. Racket CEO Austin Petersmith believes in the untapped potential of user-created audio. After that, the team stayed intact, started experimenting with audio and came up with Racket. Racket’s team has been together since 2019 after working previously on a software review company Capiche, which sold to SaaS-buying platform Vendr in April of this year. Racket plans to put the funds to use to hire more engineers, fine tune its design and expand its trust and safety resources. Angel investors including YouTuber LaurDIY, Jason Calacanis and Steve Schlafman also contributed to the funding. The company is also announcing a $3 million round of pre-seed funding from investors including Greycroft, Foundation Capital and LightShed Ventures. Anyone can easily edit audio in the app, pair a recording with relevant tags, add a cover image and publish it, a process that can take less than a minute. Out in the App Store now on iOS, Racket provides a TikTok-esque endless vertical feed of audio snippets that are all 99 seconds or less. Racket is interested in figuring that out. While hit podcasts soar in popularity, expand their media empires and secure major brand deals, it’s difficult for up-and-coming shows to find an audience. Audio-based entertainment and social media is more popular than ever right now, but the medium is still plagued by discovery issues. If it seems like everyone is listening to the same podcasts, that’s probably not a coincidence.
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