Slate Click

Early Stage

Casting made easy™ - Casting Calls and Crew Calls Software for Everywhere

Analytics

Raised to Date: Raised: $51,525

Aggregate Commitments $

Platform

Republic

Start Date

06/14/2021

Close Date

10/31/2021

Min. Goal

$25,000

Max. Goal

$1,070,000

Min. Investment

$150

Security Type

SAFE

Funding Type

RegCF

Series

Pre-Seed

Valuation Cap

$4,500,000

Discount Rate

20%

Rolling Commitments $

Status
Funded
Reporting Date

10/31/2021

Days Remaining
Funded
% of Min. Goal

206%

% of Max. Goal

5%

Likelihood of Max
Funded
Avg. Daily Raise

$371

Momentum
Funded
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Location

Boise, Idaho

Industry

Media, Entertainment & Publishing

Tech Sector

MediaTech

Distribution Model

B2B/B2C

Margin

High

Capital Intensity

Low

Business Type

Growth

Slate Click, with a valuation cap of $7.5 million, is raising funds on Republic. The company has developed casting calls and crew calls software for everywhere. The flagship product of Slate Click, Casting Calls America, has a network of over 30 regionally focused sites helping people find acting roles. Brian Jagger, Kirk Uhler, and Bryan Heath founded Slate Click in December 2020. The current crowdfunding campaign has a minimum raise of $25,000 and a maximum raise of $1,070,000. The raise proceeds will be used to continue growing the platform’s recognition, expand the projects, and increase the number of subscribers to over 100,000 by the end of 2023. Slate Click is available in more than 33 cities in the US and has generated lifetime revenue of $1.7 million.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$436,100

$412,271

COGS

$79,148

$113,689

Tax

$0

$0

 

 

Net Income

$69,637

$67,996

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$1,019

$0

Accounts Receivable

$0

$0

Total Assets

$2,264

$1,013

Short-Term Debt

$7,601

$21,930

Long-Term Debt

$0

$0

Total Liabilities

$7,601

$21,930

Financials as of: 06/14/2021
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Ratings KingsCrowd Startup Rating Methodology Article

Analyst Report Analyst Report Methodology Article

Synopsis

Movies, theatrical performances, commercials, and other forms of entertainment all require performers. Those looking to get into show business often flock to big cities like Hollywood and New York. But for many performers, that journey just isn’t feasible.  

That’s where Slate Click comes in. Slate Click wants to help talented people find work in the entertainment industry no matter where they live. Instead of making actors travel across the country to find performance opportunities, the company wants to bring the opportunities to them. To that end, it has created a network of more than 30 regionally-focused casting call platforms dedicated to helping actors find local casting opportunities. Actors can visit one of Slate Click’s sites, film their audition, then upload it to the site. Casting professionals then review the content and choose the actors best suited for their project. 

Slate Click — originally called Casting Calls America — is launching its Crew Calls America brand to focus on procuring talent for behind-the-scenes workers. This year, the company hopes to expand its casting call operations into the UK. 

Slate Click’s current Republic raise has been rated a Neutral Deal by the KingsCrowd investment team.

Price

Slate Click is currently raising at a $4.5 million pre-money valuation cap with a 20% discount, giving investors SAFE equities in exchange. Our system considers this valuation to be incredibly attractive. As such, it has rated the pricing of the business near the high end of the scale.

Market

Between 2016 and 2021, the US casting agency market grew at an annualized rate of just 1%. The industry is also quite small. In 2021, it expanded 1.7% to $1 billion. If this kind of growth continues, it will rise to less than $1.2 billion in 10 years. Due to this small market and slow growth, our system has rated Slate Click’s market opportunity at the low end of our scale.

Team

Slate Click co-founder and CEO Kirk Uhler also serves as an executive director at Placer Business Alliance, a business promotion group for Placer County, California. Previously, he was a partner at HJU Group, a software and business development company. Prior to that, he was an owner of Rensa Group, a communications strategy business. Before that, Uhler was the CEO of SARTA, a nonprofit that promoted the growth of technology companies in Sacramento. He served as the co-founder of VidGage, a social media platform focused on video content. He also served as a vice president of government relations at Solar Power Inc. and CEO of the Electric & Gas Industries Association.

Brian Jagger is Slate Click’s co-founder and chief product officer. He too previously served as a partner at HJU Group. He also worked as a casting director and assistant director at The Kaba Group, where he handled casting for on-set talent management professionals. He also worked as a professional actor and has a number of roles under his belt. He has served as a casting director for DEFY Media, where he worked on projects such as Smosh. Before that, he was a film director for Sacramento City College and a project manager at Rensa Group. 

Slate Click CTO Bryan Heath was previously a partner at HJU Group and a CTO at Casting Calls America (which later turned into Slate Click).

One of the founders does have experience in the casting call agency market, but neither he nor the other co-founder are fully dedicated to Slate Click and have other professional commitments. In addition, the team lacks important roles, such as someone to help onboard additional users for their platform. Thus, our system has rated the company’s team near the low end of our scale.

Differentiators

Overall, Slate Click isn’t very different from traditional casting agencies. Its main differentiation appears to be its regional emphasis, but competition could easily replicate this approach. Slate Click does have several different revenue streams, but it’s not enough to bolster its score. Therefore, our system has rated Slate Click’s differentiation below average on our scale.

Performance

According to management, Slate Click has more than 230,000 unique user contacts and has attracted more than 20,000 paid subscribers since launching. The Crew Calls America platform already has around 1,000 early adopters, and the business has seen some of its talent go on to work for companies like Disney, HBO, Netflix, and more. The company also has partnered up with Amazon’s IMDbPro so that listings from Casting Calls America and Crew Calls America are part of the IMDbPro jobs database. Slate Click also has a partnership with Synthesia.io so that its customers can use Synthesia.io’s AI video avatar program to create content. Slate Click has already helped more than 20 actors land roles who continue to receive ongoing royalties as a result of this partnership. 

On the financial side, Slate Click’s revenue has grown over time. In 2019, the company generated sales of $412,271. Revenue increased to $436,100 in 2020. The company also generated net profits for both years, growing its bottom line from $67,996 in 2019 to $69,637 in 2020. In all, this has led our system to rate the performance of the company well above average on our scale.

Risks

All things considered, Slate Click’s risk profile is quite low. No particular category saw elevated risk. Despite the company’s shortcomings, it is profitable at its current scale and has encouraging revenue growth.

Bearish Outlook

Although Slate Click’s risk is low, investors should still be wary of a few problems. For one, the company’s market opportunity looks limited at best. It is also growing at a sluggish pace. The team also seems to have potential problems regarding commitment and skill gaps. The product, while somewhat differentiated, does not appear to be significantly different from the competition. 

Another minor concern is Slate Click’s pricing methodology. It would make more sense if Slate Click charged the organizations that recruit the talent on its platform instead of the actors who submit their content.

Bullish Outlook

On the positive side, Slate Click’s valuation appears to be reasonable. In fact, given its traction, it is surprising that management is not asking for a higher valuation. The firm has also had a stellar performance. Its traction is great, even though revenue growth is slow. And finally, Slate Click’s overall risk profile is low.

Executive Summary

Slate Click is looking to reinvent the casting call industry by connecting actors with local casting agents all across the country. The company has ideas to further grow and diversify operations, and its valuation is fairly reasonable. Plus, the company offers a low risk profile and an impressive performance. If current trends persist, Slate Click could end up doing well for shareholders. On the other hand, investors may want to consider factors such as the market’s slow growth, a lack of significant differentiation, and the team’s potential lack of dedication. In the end, the positives and negatives roughly balance out. Therefore, KingsCrowd has rated the company a Neutral prospect.

For questions regarding the KingsCrowd staff pick or ratings for this company, please reach out to support@kingscrowd.com.

Analysis written by Daniel Jones.

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Slate Click on Republic 2021
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Platform: Republic
Security Type: SAFE
Valuation: $4,500,000

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