Pitch Deck Review : beehiiv’s seed deck scored 74%

In this blog, we'll take a look at how Score My Deck breaks down the pitch deck used by Beehiiv to raise their seed round.

Score My Deck helps pre-seed and seed founders refine their fundraising strategies to secure external investment and grow their Startup.

Imagine securing $2.6 million for your startup, in a crowded market, with no product, users, or revenue.

Let's dive into Score My Deck’s analysis of the actual pitch deck Tyler and his co-founders used.

While Beehiiv's overall score landed at a seemingly low deck score of 74%, the breakdown reveals a fascinating tale of how they overcame apparent shortcomings to secure funding.You can download Beehiiv’s pitch deck at the end of the blog!

The Traction Conundrum: A Low Score with an Obvious Explanation

Let's address the elephant in the room – Beehiiv's traction score of 64%. This low number is understandable. At the time of their pitch, they had no existing product, user base, or revenue stream. This is the classic pre-seed, pre-revenue startup dilemma.

However, the key takeaway here isn't the score itself, but rather how Beehiiv compensated for this lack of traction.

The Secret Weapon: A Founding Team With Domain Expertise

The silver lining in Beehiiv's pitch deck analysis shines brightly in their team expertise score – a whopping 85%. This high score highlights the power of having a team with relevant experience and a deep understanding of the market.

Beehiiv's founders weren't rookies. Tyler Denk, an ex-Morning Brew employee, brought valuable insights into the creator economy.

Combined with the engineering prowess of Jake and Benjamin, the team exuded a sense of capability that resonated with investors.

Investor Concerns: Validated by Today's Success

So, what were the potential investor concerns that Beehiiv likely faced? Let's take a peek through the lens of Leo Guinan, the co-founder of Score My Deck.

As Leo points out, Score My Deck’s analysis highlighted a competitive market – dominated by established players like Substack as a concern.

Beehiiv needed a clear differentiation strategy to stand out.

Similarly, the reliance on a subscription and ad-based revenue model, without a proven user base, also would have raised red flags.

Investors would have questioned Beehiiv's ability to attract enough subscribers and advertisers to generate sustainable revenue.

Finally, the ambitious financial projections of profitability within 12 months might have seemed overly optimistic in the absence of a concrete product and user traction.

Turning Concerns into Confidence: How Beehiiv Addressed Investor Scepticism

Here's where Beehiiv's strategy comes into play. Score My Deck's analysis highlights how Beehiiv could have addressed these concerns.

One suggestion was to emphasize their "no fees on subscription revenue" model – a significant advantage compared to competitors like Substack.

Additionally, focusing on developing unique features and enhanced functionalities would further solidify their position as a viable alternative.

Leo Guinan's insights further validate these points. Beehiiv's success story, now boasting a thriving platform generating $7 million ARR and used by creators, demonstrates the effectiveness of their "no fees" strategy as a great way to scale user acquisition with a plan to convert them into paying customers.

Beyond Traction: The Power of Early Validation

While Beehiiv lacked traditional traction metrics, their waitlist success hinted at a strong early market signal. With a staggering 450 people signing up before launch, the team could showcase early validation and a keen understanding of their target audience.

This, combined with the team's expertise, instilled confidence in investors, even in the absence of a fully-fledged product.

A note to founders without a product, build waitlists and promote the growth of the lists as traction in your pitch deck.

Specifically in the pitch deck Tyler mentions how they’ve managed to secure 7 verbal commits from Substack subscribers with 5000 - 85000 subscribers

Lessons Learned: Score My Deck as Your Pre-Seed Pitch Deck Coach

Beehiiv's story is a testament to the power of a well-crafted pitch deck. For pre-seed and pre-revenue startups, it is also a lesson in creating pitch decks optimized for the team’s domain expertise.

While traction is undeniably important, focusing on team expertise, addressing potential concerns head-on, and highlighting early validation makes for an easier route to fundraising success.

Score My Deck serves the ultimate fundraising co-pilot for founders raising funds at a pre-seed or seed stage.

By using the platform's insights, founders can analyze their pitch decks, identify areas for improvement, and tailor their strategy to resonate with investors.

They can learn from successful examples like Beehiiv and leverage the platform's suggestions to develop compelling narratives that go beyond traditional traction metrics.

Beyond the Seed Round: Building on Early Success

Having secured their seed funding, Beehiiv went on to build their platform and establish themselves within the creator economy.

Their early traction translated into a user base that has grown steadily since launch. This, in turn, attracted advertisers seeking access to a targeted audience of engaged creators.

While specifics of Beehiiv's financial performance remain undisclosed, their continued operation and growth, having just closed a $33 million series B round, suggest they've successfully addressed the initial concerns raised by investors.

The Competitive Landscape: How to Stand Out in a Crowded Market

The question remains: how did Beehiiv differentiate themselves in a market dominated by established players? Here are some possible factors that contributed to their success:

Focus on the "No Fees" Advantage:
As highlighted in Score My Deck's analysis, Beehiiv's "no fees on subscription revenue" model likely played a significant role in attracting creators. This stands in stark contrast to competitors like Substack, which takes a cut of creators' earnings.
Unique Features and Functionality:
They've developed functionalities that cater to the specific needs of their creator base. This includes advanced analytics tools, seamless integrations with other platforms, and features that streamline the content creation and monetization process.
Community Building:
Creating a strong community around the platform fosters a sense of belonging and collaboration among creators. Beehiiv prioritized building this community through events, workshops, and online forums, further solidifying their position within the creator economy.

Beehiiv's Journey – A Blueprint for Pre-Seed & Pre-Revenue Success

Beehiiv's story offers valuable lessons for aspiring entrepreneurs, particularly those in the pre-seed and pre-revenue stage. Here's a quick recap of the key takeaways:

Team Expertise is King: Building a team with relevant experience and a deep understanding of the market is critical for securing investor confidence.
Embrace Early Validation: While traction metrics are important, early signs of market fit – like waitlist signups or positive community feedback – can validate your concept and strengthen your pitch. Giving investors the confidence that there is a need for your solution.
Address Investor Concerns Head-On: Anticipate potential investor concerns and proactively address them in your pitch deck. Highlight your differentiation strategy, revenue model viability, and realistic financial projections.
Leverage Tools Like Score My Deck: Utilize platforms like Score My Deck to gain valuable insights and troubleshoot your pitch deck, identify areas for improvement, and tailor your strategy to resonate with investors.

By following these guidelines and learning from Leo’s analysis of Beehiiv's success story, pre-seed and pre-revenue startups can increase their chances of securing funding and building a thriving business within the competitive world of entrepreneurship.

This analysis provides a comprehensive look at Beehiiv's seed round pitch deck, the challenges they faced, and the strategies they employed to secure funding.

Download the pitch deck here

Download the Deck Review PDF here

Discover the story behind beehiiv’s successful seed raise.