Sydney-based startup, Tapview, is on the road to success – having emerged with a game-changing solution allowing consumers to choose the news they want to pay for.
Founded in 2015 by long-time friends James Jansson, Alexey Feigin and Jordan Rastrick, Tapview is a micropayment and subscription platform designed to make it easier for consumers to pay for internet content, and for publishers to convert readers into customers.
“What I saw as lacking was the method to make the payment easy,” James said.
“What our product does is take away all the financial interactions so when the user decides, ‘I’d like to buy this’, they just click on the button that says ‘purchase’ and that content is instantly purchased and revealed.”
The technology also gives customers the freedom to pay a few cents at a time for each online story they would like to read, rather than commit to a full subscription.
The need for investment: Tapview meets Jobs for NSW
With two Fairfax regional titles agreeing to trial the system, the Tapview team were ready to test their business model and expose their product to a wider market.
Tapview was successful in gaining a $15,000 Minimum Viable Product grant from Jobs for NSW, which James said allowed their business to move forward faster than initially planned.
“It positioned us well to be able to go to the market and sell our offerings, not just the payments platform, but also the data platform that publications can get such valuable information from,” James said.
“The analytics were always something we were going to have to create, and the grant made that happen a lot sooner.
It also facilitated further expansion by allowing for the appointment of five paid interns.”
The trio see a bright future for the business, aiming to get Tapview on as many high-value websites as possible – and not just news websites, but any site where content is available.
“At the moment a lot of news publications are cutting back on journalists because they’re struggling to get enough revenue from advertisements, but when we make it easier to pay for content then there will be opportunities for more journalists and writers to create even more of that content.”
As Tapview looks for new markets both here and abroad, further investment has also come in the shape of seed funding from fintech accelerator H2 Ventures and a number of private investors, this additional interest fuelled by the Jobs for NSW grant.
“The grant has worked out really well for us and provided some valuable opportunities,” James said.
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