Soona Startup Case Study: Real-Time Collaboration & Cost-Efficiency

soona

soona is a forward-thinking startup that specializes in quick, high-quality product photography and videos for online businesses. They streamline traditional content creation by enabling real-time collaboration and drastically reducing inefficiencies. soona provides a cost-effective, user-friendly approach for e-commerce brands to stand out with engaging visuals.

Founding Year: 2019

Headquarters: Denver, Colorado, USA

Industry: Information

Business Model

B2B, One-sided, Service

• Clients: E-commerce businesses of all sizes, particularly those who need high-quality product photography and videos for online stores and seek a cost-effective and efficient solution for content creation.
• Suppliers:
  • Photographers and Videographers: Both full-time and contract-based professionals who conduct the shoots.​
  • Models: Human and pet models are available through soona’s platform, working on a contract basis.
  • Stylists: Experts who assist in product presentation and scene setup.​

It’s Like: Fiverr but for professional product photography with real-time customer collaboration

Fiverr connects businesses with freelancers across various fields, including photography. However, soona differentiates itself by specializing in product photography for e-commerce and offering a unique virtual studio experience.

Here’s how it’s different:

• Real-time Collaboration: soona mandates live customer participation during photoshoots, enabling instant feedback and adjustments, unlike Fiverr’s asynchronous communication model.
• Focus on E-commerce: soona caters specifically to online businesses’ visual content needs, while Fiverr serves a broader market.
• Quality Control: soona ensures consistent quality by primarily employing in-house photographers and vetting freelancers, unlike Fiverr’s open marketplace approach.

Key Pain Points in the Industry

• Inefficient Photography Process: Traditional commercial photography involves multiple rounds of shoots, edits, and feedback, leading to delays and increased costs.
• Demand for High-Quality Visuals: The growth of direct-to-consumer (D2C) and the importance of visual storytelling in e-commerce necessitate professional product photography for online stores to stand out.
• Standardization in Marketplaces: Existing photography marketplaces often lack consistent quality and make it difficult for businesses to establish long-term relationships with specific photographers.

Key Solutions and Differentiators

• Virtual Studio Experience: soona’s platform allows customers to participate in photoshoots remotely, providing real-time feedback and direction to photographers.
• Fast Turnaround Time: Customers receive edited photos within 24 hours, streamlining the content creation process.
• High-Quality Photography: soona primarily employs in-house photographers and vets freelancers to ensure consistent quality.

• Transparent Pricing: soona offers a per-photo pricing model and subscription options, making professional photography accessible to businesses of all sizes.

Founding Story

When and How Founded: soona was founded in 2019 by Liz Giorgi and Hayley Anderson, aiming to revolutionize content creation for e-commerce businesses by offering quick, high-quality, and affordable photo and video services.

Founders and Their Experience: Liz Giorgi, who serves as CEO, previously founded the internet video production company Mighteor.

Hayley Anderson, the Chief Creative Officer, has a background in animation and was a creative director at Mighteor. Their combined expertise in media production and creative direction laid a strong foundation for soona. ​

Solving the Problem and Early Growth: Recognizing the increasing demand for rapid and affordable content among small and medium-sized businesses, soona introduced a platform that enables clients to receive professional-quality photos and videos within 24 hours.

This approach addressed the common challenges of time and cost in content creation. By 2021, soona had served over 8,000 brand customers, including notable names like Lola Tampons, The Sill, and Wild Earth, achieving revenue growth of more than 300% in that year.

Challenges, Innovations, and Continued Growth: In response to the COVID-19 pandemic, soona pivoted to a virtual model, allowing clients to participate in real-time photo and video shoots remotely.

This innovation not only ensured safety but also expanded their reach to clients unable to attend in-person sessions.

The company further enhanced its services by integrating with platforms like Shopify, enabling seamless content updates for e-commerce stores.

In January 2022, soona raised $35 million in Series B funding led by Bain Capital Ventures, facilitating further technological advancements and business expansion.

Key Growth Milestones

• 2019: soona was founded.
• April 2021: Secured a $10.2 million Series A funding round to enhance technology and open the first digital fulfillment studio. ​
• January 2022: Raised $35 million in Series B funding led by Bain Capital Ventures to further scale operations and build new fulfillment facilities.
• 2022: Achieved significant revenue growth, with a 400% increase from 2020 to 2021, followed by a 300% growth from 2021 to 2022. ​

Market & Competition

Target Market

• Direct-to-Consumer (D2C) Businesses: soona primarily targets D2C businesses of all sizes, particularly those needing product photography and videos for online stores, social media, and marketing campaigns.
  • Small Online Stores: 60% of soona’s customers are small online stores with revenue of $1 to $5 million per year.
• E-commerce Businesses: As of June 2023, soona has collaborated with over 20,000 brands, ranging from startups to well-established companies in the e-commerce sector.

Market Growth:

• E-commerce Product Photography Market: Valued at approximately US$143 million in 2024 and projected to reach US$304 million by 2031, growing at a CAGR of 11.6%. Key drivers include increased online shopping, high internet penetration, and rising smartphone usage.

Potential New Markets:

• Larger Enterprises: Potential expansion for serving larger enterprises with more complex content creation needs.
• International Expansion: Currently focuses on the United States; expanding into regions with high e-commerce growth offers significant opportunities.
• Other Industries: Potential to adapt soona’s services and technology for sectors such as hospitality, real estate, and healthcare.

Number of Clients and Suppliers:

• Clients: Over 20,000 brands. Notable clients include:​
  • Lola Tampons: A feminine care brand offering organic products.​
  • The Sill: A company specializing in indoor plants and plant care accessories.​
  • Wild Earth: A pet food brand focusing on sustainable, plant-based products.​
  • SNOW: A provider of teeth whitening products.​
  • Birchbox: A monthly subscription service delivering beauty samples.
• Suppliers: soona collaborates with a network of over 10,000 models, creators, and professional service providers to deliver high-quality content to its clients.

Growth Trends:

• Continued Growth of E-commerce: Factors like mobile commerce, social commerce, and evolving consumer preferences fuel the demand for visual content, benefiting soona.
• Increasing Importance of Visual Content: Visual platforms drive consumer decisions, making professional, engaging visuals essential for branding and sales.

Competitor Landscape

soona operates in a competitive environment with various players specializing in product photography and content creation.

Main Rivals:

• Automated Photography Solutions:
  • Orbitvu
  • Ortery
  • PhotoRobot
  • PackshotCreator
  • Iconasys
  • Styleshoots
• On-Demand Services:
  • The H Hub
  • Feedsauce
• Photographer Marketplaces:
  • Splento (considered a competitor with a different business model)

Marketing & Sales

Main Positioning Values: Time & Quality

Website & Socials

• soona’s website, soona.co, attracts around 112,285 monthly visits. Much of this traffic is direct (about 44%) and organic search (about 44%), with smaller shares from referrals, paid search, social networks, and ads.
• The United States leads in traffic share (approximately 34%), followed by Vietnam, the Philippines, Indonesia, and the Netherlands.
• Facebook drives the highest share of social media traffic, followed by LinkedIn, YouTube (1.6k subscribers), Instagram (126k followers), and Reddit.

Media Coverage

• Forbes: Featured soona’s innovative virtual photoshoot services, highlighting their ability to produce high-quality content at affordable prices.
• Built In Colorado: Reported on soona’s $35 million Series B funding, detailing plans to expand fulfillment facilities and enhance production capabilities. ​
• Twin Cities Business: Explored how soona adapted to remote operations, continuing to provide social-media-friendly content without physical studios. ​
• Craft Industry Alliance: Provided a firsthand account of using soona’s services, emphasizing the platform’s affordability and user-friendly experience for small businesses. ​

Marketing Strategies

• Target Audience: soona primarily targets e-commerce businesses of all sizes, with a strong focus on small online stores ($1 to $5 million annual revenue). Their services benefit businesses lacking in-house resources for professional-grade visuals.
• Customer Acquisition: soona employs multiple channels, including direct sales, online advertising, content marketing (blog, podcast, social media), partnerships, PR, and referral programs. For its content marketing, soona maintains an active blog, sharing insights and strategies related to content creation and marketing. For example, its “a 1K strategy” post offers advice on promoting businesses effectively.
• Supplier Acquisition: soona prioritizes the direct recruitment of photographers, models, and stylists. It collaborates with companies like Saltbox to enhance service offerings and reach. They also acquired Trend, a network of over 1,000 approved creators, to expand their content creation capabilities.
• Demographic Detail: Website demographics show around 60.9% male users and 39.1% female users, with the largest age group being 25-34 (33.1%), followed by 35-44 (15.4%) and 45-54 (14.9%).

Product & Innovation

Virtual Studio with Live Collaboration

soona’s virtual studio technology enables real-time customer interaction during photoshoots, addressing inefficiencies in traditional workflows.

Mandatory Customer Participation

By requiring customers to be present online during shoots, soona ensures alignment and reduces revisions, achieving faster turnaround times.

Focus on E-commerce Photography

Specialization in product photography for online businesses allows soona to tailor its offerings and technology specifically to the demands of the e-commerce market.

Financials & Metrics

Revenue Sources

• Studio Pass: soona offers a pay-per-shoot option for clients who prefer flexibility without a subscription. This includes a one-time studio fee of $149 per booking, granting access to soona’s platform, creative talent, and studio resources. Clients can then purchase photos at $39 each and videos at $93 per clip.
• Subscription Memberships: To accommodate clients with ongoing content needs, soona provides tiered subscription plans:​
  • Basic Membership: Priced at $13 per month (billed annually), this plan waives the studio pass fee and offers standard pricing on photos and videos.
  • Standard Membership: At $49 per month (billed annually), this tier includes benefits such as 10% discounts on models, styling, and shoot upgrades; free premium edits; and expedited 24-hour asset delivery.
• Models, Styling, and Shoot Upgrades: Clients can enhance their content by adding professional models, stylists, and various shoot upgrades. These services are available at additional costs, with discounts offered to Standard Membership subscribers.
• Premium Editing Services: soona provides advanced editing options to refine and tailor content to specific brand aesthetics. Premium edits are priced at $9 each for Studio Pass and Basic Membership clients, while Standard Membership subscribers receive these edits for free.
• Enterprise Solutions: For larger businesses with extensive content requirements, soona offers customized enterprise packages. These solutions include dedicated account management, creative teams, and flexible payment options, with pricing tailored to the client’s specific needs. ​

Metrics

• Funding and Investments: 
  • Series A: $10.2 million on April 16, 2021.
  • Series B: $35 million on January 19, 2022.
• Employee Count: 51 to 200 employees.

Structure & Culture

Organizational Overview

• Management: soona’s leadership team comprises experienced professionals dedicated to revolutionizing content creation for e-commerce businesses. Key positions include:​
• Co-Founder & Chief Executive Officer: Elizabeth Giorgi​
• Co-Founder & Chief Product Officer: Hayley Anderson​
• Chief Operating Officer
• Chief Technology Officer
• Chief Growth Officer
• Vice Presidents of – Finance; User-Generated Content & Creative Services Marketplace; Strategy & Innovation; etc
• Values: soona’s core mission is to revolutionize the way businesses create visual content, aiming to make high-quality, custom content accessible to brands of all sizes. They aim to become the go-to platform for high-quality, on-demand visual content. The company upholds core values of quality, innovation, efficiency, and collaboration, reflecting a commitment to excellence and cutting-edge solutions. These principles guide decision-making and drive continuous improvement and expansion into new markets.​

Impact & Success

Customer Feedback

• Better Quality and Pricing: Some users highlighted they got better quality at cheaper prices –  “We got better quality and 2x as much content for half the cost of our $150K agency!” says Kate Eastman, Brand Director at Each & Every
• “soona takes the guesswork out of any photo or video shoot. The guidance, processes, turnaround time and cost-savings is a no-brainer! It’s made my whole content-creating life so much easier.” – Noa Arias: Co-Founder at Bloomers
• Repeat Customers: 63% of monthly revenue comes from repeat clients, indicating strong satisfaction.
• Customer Base: 60% are small online stores with revenue of $1 to $5 million per year.

Success Stories

Positive Customer Reviews: Praised for efficient processes, high-quality outputs, and user-friendly platform: ​

• Before partnering with soona, Gales’ founder and CEO, Rob Gregg, often found himself attempting to capture product images in his apartment using just an iPhone, squeezing in these DIY photo sessions between calls—a process he described as quite challenging. Discovering soona transformed their content creation approach, streamlining the shoot preparation process and allowing for customized, high-quality visuals that brought their products to life. This collaboration led to an immediate increase in the quality and volume of usable content, revitalizing their social media channels and website, and playing a crucial role in the company’s quarter-over-quarter revenue growth.
• “soona got us 30% more content this year for the same budget as last year.”

Chris Skiles: Director of Global Creative at Crocs

Growth & Future

Challenges and Risks

• Competition: Multiple rivals in e-commerce photography and content creation, including automated solutions and on-demand services.
• Customer Feedback: Some customers note occasional issues with styling services or customer service inconsistencies.
• Learning Curve: New users may need time to fully utilize the platform’s advanced features.
• Limited Physical Studio Locations: In-person studio access is only offered in specific locations.

Future Plans

• Expanding its services: Exploring augmented reality (AR) and interactive video solutions.
• Catering to broader clients: Aiming to serve additional industries beyond e-commerce.
• Forming strategic partnerships: Plans to collaborate with complementary businesses to enter new markets.
• Investing in research and development: Committed to staying at the cutting edge of industry technology.
• Expanding Fulfillment Facilities: Building new facilities in Seattle, Los Angeles, Miami, and Atlanta to boost production and reduce shipping times.

Key Takeaways for Entrepreneurs

• Ride the wave of a booming market: soona’s growth reflects its strategic positioning in the rapidly expanding e-commerce space.
• Don’t blindly follow trends: Going against the marketplace model with quality control and direct hiring can yield strong investor and customer appeal.
• Turn limitations into strengths: Mandatory customer participation reduces revisions and fosters efficiency.
• Solve a real pain point, elegantly: soona tackled time-consuming photography processes through real-time collaboration.
• Prioritize customer relationships: Quality, direct photographer relationships, and consistency trump impersonal marketplaces.
• Don’t underestimate the power of visual storytelling: High-quality imagery is essential in today’s visually driven world.
• Think beyond the obvious: soona’s model could be applied to other professional services needing real-time customer involvement.