Mystic Business🔮 Kickstarter & Chinese Startups

View this email in your browser
Kickstarter Believes in Magic Now

’Tis the season to be witchy, falalalala lalalala…..

Last week, Kickstarter - the popular crowdfunding site - launched a new category, Magic and Divination, a "new home for all things mystical”. The platform is finally acknowledging the fledging industry of tarots, astrology forecasts, and witchy accessories. Projects like these have existed on the platform for years. 

Psychic services (which include occult-related products) are a $2.2 billion industry in the US that is expected to increase by 2.6% in 2021, according to IBIS World.

In fact, according to Kickstarter, the success rate for mystic projects is surprisingly high (80% fully funded, compared with the site-wide average of 50%), and tarot projects alone had a 223% YoY increase in 2020. Outside of Kickstarter, astrology apps also grew 64.7% to become a $40 million industry in 2019, according to SensorTower

And the spiritual self-care segment is a rapidly expanding portion in the global wellness industry, according to Global Wellness Institute. The wellness market has expanded 6.4% since 2017 from $3.7 trillion to $4.2 trillion. 

It seems even venture capitalists are also taking this seriously. Just last week, Emerging Vision raised US$4 million in Series A funding, led by Lightspeed Venture Partners. The Singapore-based startup owns two psychic services apps - Teller Live app (iOS) and Guruji (Android) that provide a suite of virtual spiritual-wellness services like tarot reading and occult-related help. In just 18 months since the launch of Guriji and three months since the launch of Teller, the firm has had a US$6 million annualised revenue run rate. 

In Australia, anxiety and uncertainty caused by the pandemic has seen a surge in Australians seeking the help of psychics and fortune tellers. Rose Smith, owner of Absolute Soul Secrets – the largest psychic and spiritual network in the Southern Hemisphere – said her business has seen a 25% rise since the beginning of the pandemic.

In South Korea, the psychic industry is set to cross $3.7 million in valuation. 

Some more stats

  • Tarot and astrology services generate around £27 million of annual revenue in the UK. 
  • The term “psychic” is the 12th most profitable keyword on Google.
  • According to the Polish Ministry of Education and Science, around 50% of the nation’s population have seen a fortune-teller at some stage in their life.
  • According to YouGov’s American survey: around 1 in 5 people say they have visited a psychic
  • 43% of French citizens rated “French Tarot” as one of their favorite card games.
  • 18-24 year olds are the number one demographic based on age to believe in horoscopes.


$900 Billion for Holiday Shopping 

The pandemic and inflation together can't keep consumers from spending a lot this holiday season.

Holiday e-commerce sales are projected to reach a record $207 billion in the U.S. and $910 billion globally between November and December, according to an Adobe Analytics survey that analyzed over one trillion visits to retail websites.

Cyber Week, which lasts from Thanksgiving through Cyber Monday, is expected to bring in more than $12 million per minute through online sales and reach $36 billion in online spending, a 5% increase YoY, .

E-commerce sites have adopted new AI tools such as BNPL (buy now pay later) as a way to manage expenses amid inflation. Online revenue from BNPL has already grown 10% YoY and 45% compared with 2019, according to Adobe. 

But despite these perks, successful fulfillment is still the primary challenge for retailers this season, as ongoing supply-chain complications have caused out-of-stock messages, delayed deliveries and misplaced orders in the past months.



More Funding For Chinese Startups

Global investors (especially Asian VCs) put more money into Chinese start-ups in Q3 of 2021. As per insights from KPMG, Preqin and CB Insights, VC financing in China stood at $23.7 billion in Q3, up from $22.5 billion in Q2.

In March, China launched its 5-year and beyond development plan, which particularly focussed on building semiconductors, since the U.S. has restricted China’s access to critical American technology. That’s spurred a rush of investment into China’s semiconductor industry in ways similar to that of the internet about two decades ago. 

But a look at recent history reminds us that while China’s sheer scale of the market has attracted much capital, it hasn’t necessarily given good returns. 

Chinese regulations have been thwarting

Jack Ma’s e-commerce giant was the first of the internet technology giants to fall into Beijing’s crosshairs. Alibaba set the world record for IPOs in 2014. But the stock has fallen more than 40% in the last 12 months.

Then there’s the Chinese ride-hailing app Didi. Just days after it held its massive IPO in New York on June 30, Beijing ordered the company to suspend new user registrations during a security review. Didi shares have fallen more than 35% since the IPO.

A few weeks later, authorities abruptly ordered after-school tutoring companies  to cut operating hours and banned foreign investment into the industry. U.S.-listed shares of industry leaders plunged more than 90% year to date.



Shorts ⏳

Stash Recommends: Tools to Explore
🧮 Free Agent: An accounting and bookkeeping software for UK businesses that has all the features you need to keep your small business finances on the right track

🗂 EgnyteA cloud storage platform that features secure and comprehensive file sharing. It's a great solution for all your cloud storage needs.

☁️ ChartioA cloud-based business intelligence and analytics solution that enables everyone to analyze their data from their business applications.

🎮 Lime Engage: A gamification platform, allowing you to inspire staff, improve results, increase focus, and boost the CRM usage within the business.


 
Twitter
Facebook
LinkedIn
Copyright © 2021 StartupStash, All rights reserved.

Drop us a line:
hello@startupstash.com






This email was sent to you
why did I get this?    unsubscribe from this list    update subscription preferences
StartupStash · Yirmiyahu 43 · Tel Aviv 62747 · Israel

Key phrases

Older messages

Visa Bills, Pulps & Presses, Let's move to UK 💳

Tuesday, October 26, 2021

Plus, Books: The newest victim of shortages View this email in your browser No Pulp, No Presses, No Books The problems with supply chains are coming for books, too. According to industry tracker NPD

Mind-bending Medicine, More Shortages & Brexit 💊

Tuesday, October 19, 2021

Plus, Find a spouse, make more money View this email in your browser Mind-bending Medicine, Startups, Government For a long time, Chase Chewning, a veteran with PTSD, had wanted to try a new type of

Zero Sales, Corporate Hegemony & Stagflation ⭕

Tuesday, October 12, 2021

Plus, Lyme Disease To A Million Dollars View this email in your browser Facebook Hegemony Over Small Businesses When Facebook, along with its legion of apps and services went down last week, it led to

Workplace Equality & Pro-Vax Small Businesses 💉

Tuesday, October 5, 2021

Plus, The rich Elder-tech market is a good thing View this email in your browser Startups and the Rich Elder-Tech Industry ElliQ is an AI companion designed for seniors by the Israeli tech company

Economy of Shortages & Wealth Inequality 📭

Tuesday, September 28, 2021

Plus, a $25 billion boost to small businesses View this email in your browser Small Business In The Economy of Shortages We're living in the economy of shortages. The Great Food Shortage At its

Brite v2.0, Life of Discipline, elai.io, Zoomtable, Scribo.dev, and more

Wednesday, December 1, 2021

All-in-one productivity super app, like Notion but for personal use BetaList BetaList Weekly Brite v2.0 All-in-one productivity super app, like Notion but for personal use Autopilot.io Setup once,

one week away

Wednesday, December 1, 2021

Future of Health (Dec. 8-9, online) is just one week away. Are you joining? Hi there, Future of Health (Dec. 8-9, online) is just one week away. Are you joining? We're super excited for our analyst

Founder Weekly - Issue 514

Wednesday, December 1, 2021

View this email in your browser Founder Weekly Welcome to issue 514 of Founder Weekly. Let's get straight to the links this week. General Learn How to Build a Crypto Company a16z Crypto Startup

How Stripe Scaled - Notes from Office Hours with Claire Hughes Johnson

Wednesday, December 1, 2021

Tomasz Tunguz Venture Capitalist at Redpoint If you were forwarded this newsletter, and you'd like to receive it in the future, subscribe here.​ ​How Stripe Scaled - Notes from Office Hours with

39 new Shopify apps for you 🌟

Wednesday, December 1, 2021

New Shopify apps hand-picked for you 🙌 Week 47 Nov 22, 2021 - Nov 29, 2021 New Shopify apps hand-picked for you 🙌 New Apps WideReview ‑ Carousel Reviews Carousel Reviews, UGC, Testimonials, Videos,

I gave $10,000 to a side hustler

Wednesday, December 1, 2021

I LOVE supporting side hustlers. So much I started my own SharkTank to help fund you guys. We had over 350 applications… but only one wins the $10000. 🎥 Best “Shark Tank” Pitch Wins $10000 image Click

[SaaS Club] From growing to buying SaaS companies

Wednesday, December 1, 2021

Hey, this is Omer... Here's a quick round up of what's been going on: 🎧 Podcast We just published the latest episode of The SaaS Podcast: 301: How Raj Sheth Went from Growing to Buying SaaS

⚡ 💡Getting 1 Million Views in 9 Minutes - IdeaEconomy 💡⚡

Wednesday, December 1, 2021

The weekly digest of the creator economy. Grow your audience. Build your business. View this on the Web Wednesday, December 1, 2021 "Intensity is overrated. Consistency is underrated." -

Bret Taylor gets his promotion, Meta loses David Marcus, and the hottest real estate is in the metaverse

Wednesday, December 1, 2021

View in browser November 30, 2021 Well, hello there.:) Top News Bret Taylor is having quite a week! One day after being named chairman of Twitter, Salesforce today promoted him to the role of co-CEO

Will VC get cancelled? ❌

Wednesday, December 1, 2021

The analytics startup tackling racial bias | Alternative finance hits the Nordics View this email in your browser Hi Sifted Reader, As Gen Z begins to enter the world of venture capital, investors