The New California Based Startup Making a Dent in Social Media w/ Tyler Maloney (CEO Faves)
In this episode, Shamus Madan talks with Tyler Maloney about the impact of TikTok on Faves, exploring the potential and challenges of organic reach. They discuss Faves as a content sharing platform, the importance of product readiness in social media apps, funding, the role of VCs, and future prospects.
Key Points
- Tyler Maloney, founder and CEO of Faves, was inspired to create a social media company based on the insight that people enjoy sharing content they love with friends, which is not optimally supported by current messaging platforms.
- Faves is focusing on product-market fit before considering monetization strategies, aiming to align user value with platform value, and plans to grow its user base steadily to ensure the product is refined and ready for larger audiences.
- Maloney believes that a successful social app requires getting three core loops right: a posting habit loop, a consumption habit loop, and a viral invite habit loop, with Faves currently iterating on these to enhance user retention and platform engagement.
Hey everybody, welcome to the MBIT podcast in which we discuss investing, tech, and entrepreneurship. Today we will be discussing the the new California based startup Faves (backed by VCs and angel investors including Sahil Bloom), and how it is making a dent in the social media industry.
Make sure to subscribe to the pod, so you don’t miss out on future episodes. To touch on these topics we have the Founder and CEO of Faves, Tyler Maloney.
Twitter of Host: @mbitpodcast
Twitter of Guest: @MaloneyTyler
Download the Faves App Here! --> https://apps.apple.com/us/app/faves-best-of-social-media/id1490305477
Chapters
| 0:00 | |
| 1:16 | |
| 2:23 | |
| 3:39 | |
| 5:20 | |
| 7:52 | |
| 8:23 |
Transcript
Loading transcript...