Dublin startups tell their stories, powered by DCU Ryan Academy.
Meet Emmet Savage, Founder & CEO of Rubicoin...
Tell us about your product…
We have two mobile-only products at Rubicoin, both designed to get the world investing successfully. Our Learn app gets you on your way with simple, straightforward lessons. Our Invest app brings you further along the journey so you can put your newfound knowledge into practice.
What inspired you to start the company?
I have been a lifelong investor in US-listed stocks and have a passion for the area. I began blogging on the subject of stock investing while studying physics at DCU in the early 90s. A few years later I was approached by The Motley Fool to join their Analyst Community, during which time I honed my research and writing skills. I noticed that people hate the pain of opening a brokerage account but buy into the concept of owning a company they believe in. I approached The Motley Fool with a plan to build a company with a mission to get the world investing; they got behind me, and it went from there.
What market are you targeting and how big is it?
Our number one market is the U.S. The opportunities that exist there are vast, in particular in targeting beginner investors, which has mainly been neglected by the traditional investment companies.
— rubicoin (@rubicoin) May 3, 2016
Whats your business model?
We see ourselves as a content generating machine, with well designed, user-centric apps to host and present this content. Our core target market is people who are just starting their investing journey; theyre intrigued by the stock market, but have no idea how or where to start. Both our apps are free to download. Our revenue model is based on providing access to additional content and advice for users who want a focused approach. Were just about to launch a subscription service.
What was the funding process like?
It was both a challenging and rewarding time. It’s time-consuming and mentally tiring to have to tell your story to lots of people while still focusing on the continued growth of your new business. Be ready to sell yourself and your business.
Who are your investors, how much did you raise and why does that matter?
Our chief investors are both Enterprise Ireland and The Motley Fool, who are the largest investing community in the U.S. Beyond those, our investment has been made up of private angel investors. Were currently closing a round of funding which will bring our overall investment to date to 3m.
What do you think motivated your investors to write that check?
They all believe in the vision both the team, and I have put in place for the company. They see the opportunity thats in front of us for both growth and success and believe we have the team to realise those opportunities.
— rubicoin (@rubicoin) March 25, 2016
What milestones do you plan to achieve in the next six months?
Our main one will be to continue to grow and develop the brand in the U.S. market, engage our users and drive a high level of retention. We also want to launch into at least one new market. After just six months we have over 100,000 downloads of our apps already. We now have to understand how those users are interacting with our app and continue to innovate and improve.
What advice can you offer companies in Dublin who are just starting out?
Starting is half the battle, so well done! Listen to people who are critical of your service or product carefully because they’re doing you a big favour; act on their feedback if possible and don’t take it to heart.
Tell us one (or more) things you love about Dublin as a startup community and as a city?
I have found that there are lots of people willing to give you advice and help as you start your venture. All you need to do is ask for help, so be brave and build your peer network wisely. Also: the talent available to us here in Dublin is fantastic.