27. February 2013–
Berlin startup Foundd is quietly adding more verticals to its recommendation service, with TV shows rolled out this week and app discovery up next.
The company, founded by Lasse Clausen, Christian Riedel, Benjamin Metz and Peter Mädel, started out as a movie finder in July last year. To tailor recommendations, it shows a series of options and asks users to rate them. Selections can be saved to a watchlist and – with Facebook Connect – Foundd can also be used to help figure out films friends want to watch together.
With the help of some positive tech press, the service managed to pull in a million ratings just five days after its launch. Speaking to us this week, Clausen said the iPhone app – released in December – is now sitting at about 1000 downloads per day.
"We do really well in app search in the US," he adds – about 60 per cent of the company's user base is currently US-based.
Foundd runs on an affiliate business model. Once users have a recommendation they want to actually watch, Foundd offers links to Netflix and iTunes, taking a small commission from any purchases. "We can't give the number but the conversion rate to the iTunes store is really high," Clausen said.
Surprisingly, the conversion rate for Foundd's web version – where people are presumably using a laptop with a bigger screen – is not as high as conversion for the iPhone app. "It surprised us as well," Clausen said, adding that the number one device for conversion so far is the iPod touch.
The obvious next step will be to bring out an iPad app. The next verticals in line will be apps – focusing on entertainment and games – with YouTube videos and books tentatively up next.
It's early days and plans could change but, with a sound business model and suitably large ambitions, we're looking forward to seeing this company develop.