{"id":38744,"date":"2023-10-20T14:58:42","date_gmt":"2023-10-20T14:58:42","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/serial-entrepreneurs-chris-koch-and-chad-stephens-pour-in-4-million-to-launch-pop-startupsmart\/"},"modified":"2023-10-20T14:58:42","modified_gmt":"2023-10-20T14:58:42","slug":"serial-entrepreneurs-chris-koch-and-chad-stephens-pour-in-4-million-to-launch-pop-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/serial-entrepreneurs-chris-koch-and-chad-stephens-pour-in-4-million-to-launch-pop-startupsmart\/","title":{"rendered":"Serial entrepreneurs Chris Koch and Chad Stephens pour in $4 million to launch Pop! &#8211; StartupSmart"},"content":{"rendered":"<div class=\"td-post-featured-image\"><img loading=\"lazy\" decoding=\"async\" width=\"445\" height=\"352\" itemprop=\"image\" class=\"entry-thumb\" src=\"\/wp-content\/uploads\/2014\/10\/l_koch-stephens-pop-launch-1-445.jpg\" alt=\"\" title=\"l_koch-stephens-pop-launch-1-445\"\/><\/div>\n<p>Chris Koch and Chad Stephens launched their latest business Pop! today after <a href=\"http:\/\/www.smartcompany.com.au\/finance\/investment\/35148-rea-group-buys-start-up-for-15-million-the-founders-share-their-story.html\" target=\"_blank\" rel=\"noopener\">selling 1Form to REA Group<\/a> earlier this year for $15 million.<\/p>\n<p>\u00a0<\/p>\n<p>Pop! is an app that enables users to securely store, manage and control their personal data online.<\/p>\n<p>\u00a0<\/p>\n<p>The tech entrepreneurs spotted the gap in the market for the app while working on 1Form.<\/p>\n<p>\u00a0<\/p>\n<p>\u201cIt\u2019s interesting how 1Form led into this as people who move house have the issue of who has that information,\u201d Koch told <em>SmartCompany<\/em>.<\/p>\n<p>\u00a0<\/p>\n<p>\u201cIt\u2019s difficult to know who has got what and who do I need to give the information to.\u201d<\/p>\n<p>\u00a0<\/p>\n<p>Koch and Stephens have brought on board some of the same  investors as 1Form including Greg Roebuck, founder and chief executive  of <a href=\"http:\/\/www.smartcompany.com.au\/finance\/wealth-management\/10407-20090811-carsalescomau-begins-800-million-float-process.html\" target=\"_blank\" rel=\"noopener\">CarSales<\/a>, Wal Pisciotta and Steven Kloss.<\/p>\n<p>\u00a0<\/p>\n<p>\u201cThey were happy with the way we performed with 1Form so wanted to get on board,\u201d Koch says.<\/p>\n<p>\u00a0<\/p>\n<p>The pair remain the majority shareholders and to date around $4 million has been invested in Pop!<\/p>\n<p>\u00a0<\/p>\n<p>Within the first year Pop! is aiming to obtain a million users of the app.<\/p>\n<p>\u00a0<\/p>\n<p>While the app is free for consumers, the business makes revenue by charging Pop!\u2019s partners.<\/p>\n<p>\u00a0<\/p>\n<p>\u201cWe charge businesses when we send them an update to their details,\u201d Koch says.<\/p>\n<p>\u00a0<\/p>\n<p>\u201cBusinesses pay us for that as they want to keep their databases up to date and current.\u201d<\/p>\n<p>\u00a0<\/p>\n<p>Koch is unable at this stage to reveal which businesses have  partnered with Pop! but says they are set to include Australian  household names in banking, retail, government, travel and e-commerce.<\/p>\n<p>\u00a0<\/p>\n<p>Koch and Stephens have based Pop!\u2019s business model on  statistics which show that in any year 12% of a population will move  house, 39% will change jobs and 33% of their credit cards will expire.<\/p>\n<p>\u00a0<\/p>\n<p>\u201cThe revenue doesn\u2019t kick in until we start feeding those updates to companies,\u201d Koch says.<\/p>\n<p>\u00a0<\/p>\n<p>\u201c64% of those million users will have some sort of life event change.\u201d<\/p>\n<p>\u00a0<\/p>\n<p>Pop! is charging around 20c an update to its partners and  Koch says this means it will turnover around $1.5 million in revenue for  1 million users, around $15 million in revenue for 10 million users and  $150 million in revenue if Pop! reached 100 million users.<\/p>\n<p>\u00a0<\/p>\n<p><em>This story originally appeared on<\/em> <a href=\"http:\/\/www.smartcompany.com.au\" target=\"_blank\" rel=\"noopener\">SmartCompany<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chris Koch and Chad Stephens launched their latest business Pop! today after selling 1Form to REA Group earlier this year<\/p>\n","protected":false},"author":2,"featured_media":61540,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25,1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/38744"}],"collection":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/comments?post=38744"}],"version-history":[{"count":0,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/38744\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media\/61540"}],"wp:attachment":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media?parent=38744"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/categories?post=38744"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/tags?post=38744"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}