#115 Gemist: The Crown Jewel of Venture

The Pitch

Josh Muccio

Investing, Technology, Entrepreneurship, Business

4.6 • 1.5K Ratings

🗓️ 23 August 2023

⏱️ 40 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

When Madeline Fraser tried to design her engagement ring online, she was stunned to find it couldn’t be done. After bringing a cash deposit to a rando in LA, Madeline got her custom ring and, with it, a new business idea. She started Gemist – a vertical SaaS product for jewelers. It's the kind of business VCs love, but that means they'll expect the business to be flawless. Will Gemist pass inspection or will slight imperfections blow the whole deal? Today’s investors are Paige Doherty, Neal Bloom, Elizabeth Yin, Mark Phillips and Charles Hudson. If you would like to invest in Gemist, go to pitch.show/gemist Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Pitch one, day one.
0:03.7	Vertical Sass.
0:05.3	What is it exactly?
0:06.6	A skyscraper that talks back?
0:08.8	An upright teenager?
0:10.4	No.
0:11.4	It's software made specifically for one market or vertical.
0:15.7	It's companies like Toast who make software for restaurants or mind-body who may have
0:20.7	used to sign up for a class of the gym.
0:23.6	Both are worth billions.
0:26.5	Vertical Sass is the crown jewel of venture.
0:29.9	Others just can't get enough of it.
0:32.4	You'll hear why in today's episode.
0:34.7	But with so many VCs chasing after the same deals, the prices for Vertical Sass, they're
0:40.8	going up.
0:42.0	Which in turn means investors expect these companies to be flawless.
0:47.1	No pressure.
0:48.6	On our show today, a founder building Vertical Sass for jewelers will investors find a priceless
0:54.6	gemstone where we'll slight imperfections below the whole deal.
0:59.6	I'm Josh Mootio, welcome to the pitch, where relaunch per newers pitch to real investors
1:05.6	for real money.
1:07.4	Hi, I'm Paige Fendordi, founding partner by ingenious ventures, and welcome to San Diego.
	...

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