Channeling ads in podcasts, highlighting the latest startups in travel & credit card
Starting a newsletter is challenging, especially when defining what your niche is. Somehow I want to be it all: the one-stop shop for local founders to find community in Minnesota, share insights about consumer trends (an often overlooked sector in the startup world), and share what’s happening in the Gen Z world. I know I should probably define my objectives for this newsletter but I like the scrapbook vibe now. No need to read it all, just what sparks your interest.
happy reading!♥️
Startup Events & News
A list of startup events happening in March — let’s get you plugged into the Minnesota startup ecosystem
3/11 - MN Cup Applications Open
3/21 - Feast! Local Foods Tradeshow
3/21 - EmpowerHer Happy Hour
What’s Happening in Consumer
From a Macro View
macroeconomic consumer trends, shifts in consumer behavior, industry deep dives
Podcast advertising steals the show
Every morning, I listen to Morning Brew, a quick 20-minute podcast sharing interesting business news. I’ve been fascinated with the way they integrate ads into their podcasts. They have one key sponsor of the month and seamlessly talk about them in natural conversation, sometimes without us listeners realizing that it’s an ad. Later on, the podcast then plays 1-2 pre-recorded sets from other brands.
This sparked my interest in the growth of this relatively new ad channel. A 2022 report found that US podcast revenues are growing 26% year-over-year to $1.8B. Authenticity is becoming a crucial way to attract audiences, as we’ve seen similar growth in influencer marketing. Similarly, listeners are more inclined to act on ads that match the podcasts they listen to. A Deloitte Digital Trends survey confirms this, as results show that 76% of Gen Z podcast listeners say they trust the podcast hosts they listen to.
I’d be curious to know if we’ll see further growth in CPG brands using podcasts to drive revenue. So far, the largest companies in this sector are BetterHelp, Amazon, and Shopify. Trailing behind are Athletic Greens and HelloFresh, proving that health and wellness products perform well through this advertising channel. It’ll be interesting to see how brands in the health sector leverage podcasts. Brands like Olipop, BuiltBar, and Gymshark have a great opportunity to capitalize on an audience that’s already interested in this space.
From a Micro View
micro-trends, with a glimpse into the Gen Z world
1. Rihanna performs at the iconic Ambani wedding
As a fellow South Asian, finding out that a groom hired Rihanna to perform at the wedding of his wife set my standards for a husband on a new high. Almost every TikTok I scroll by is a snippet of the iconic Ambani wedding.
For context, the Ambani family is one of the richest, if not the richest family in India. Mukesh Ambani is the chairman of Reliance Industries, a conglomerate focused on energy, oil, textiles, entertainment, etc. He passed his companies to his children, one of them being Anant Ambani, who is also the one whose wedding it is.
Per his wife’s request, Anant Ambani hired Rihanna perform live on the first night of his wedding celebrations. This was Rihanna’s first full live show in 8 years, outside of the 2023 Super Bowl. It’s hard to believe Rihanna just came to perform. That’s because she didn’t — she came for business too. Isha Ambani, daughter of Mukesh Ambani, runs Reliance Retail and recently acquired Sephora India last November.
This acquisition positions Rihanna’s $2B celebrity brand, Fenty Beauty, in a positive light, as it’s clear that the Ambani family is expanding into beauty. Business of Fashion discusses India as “one of the largest untapped consumer markets globally.”
2. Emerging startups changing the way we shop, travel, and pay rent?
In the past week, I’ve come across numerous startups that are changing the game of how consumers do normal activities, so I just want to highlight some startups with solutions you could start using in your routine.
Reverie - an app that helps you plan trips by recommending trending spots and activities, aggregated from social media, such as TikTok. I downloaded this app, and it’s got a dark-toned, mysterious ambiance with great category options to select if you’re looking for cafes, activities, or clubs at a specific destination. The only downside is that it’s using TikTok videos as content to scroll through, so there’s not much of a clear competitive advantage since TikTok could amp up its search experience specifically for travel planning.
Glaze - AI-powered mood board where shoppers can text their fashion inspiration and receive recommendations on which products and brands to purchase from. I love this concept - there are so many times I see a nice outfit someone’s wearing in an ad or Instagram but don’t know where to find the right clothes to match the outfit. This app provides the convenience of providing credible brands to shop from to manifest your fashion goals. Even better, it’s a YC-backed company🚀
Bilt Rewards - earn rewards when you pay rent, you heard me right. The average annual cost for rent in the US is $15,600, but there’s no financial benefit to it because rent is primarily paid with direct deposits. By eliminating credit fees and using a loyalty program, Bilt offers rewards for renters to build up their credit scores and redeem points through rent, travel, and other purchases. It’s one of the few startups that blew up during COVID-19, so with some luck and a deep understanding of the issue, founder Ankur Jain has recently secured $200M in funding from General Catalyst to bring its valuation to $1.3B.
Rove - similar to Bilt but for travel instead. For the past few decades, the airline economy has popularized rewards programs to build loyalty, so Rove is using this to tap into an overlooked market: gen z. Rove is a credit card to democratize travel reward points for young adults. It also provides a portal to redeem airline loyalty deals, creating a seamless (and hopefully cheaper) way to travel. The company has just been accepted into this year’s YC cohort, so it’ll be exciting to see its growth this year.
What I’m working on
what i’m thinking, reflections & upcoming projects
I have five papers to finish this week, so I’m not done with school quite yet. It’s the final stretch, and I still find myself ruminating if graduating early is the best decision. Yet, I know that my ability to learn and drive impact happens outside of the classroom. I’ve questioned my “why” for the longest time. I’ve grown up thinking that my “why” is to give back to my parents who have invested and sacrificed so much. While it’s true, my “why” has changed.
I want to leave a legacy. Wherever I go, I want to leave knowing I left a lasting mark. I’m incredibly passionate about serving others, be it through consulting, part-time jobs, or simply as a teaching assistant in a class. I want my name to have gravitas, a resonance signaling to others that my contributions have empowered their journeys. Leaving a legacy in spaces that are rooted in solving problems and driving impact — that’s my “why”.
If you made it this far, thank you so much for reading!
Sanjana