Autio, based in Santa Barbara, California, is a storytelling app that offers users a unique way to explore various locations across the United States. The app features 10,399 stories from coast to coast, told by master storytellers such as Kevin Costner, Phil Jackson, and John Lithgow.
Users can discover stories related to the culture, history, local insights, music, natural wonders, and sports of their current location. After installing the app, users can listen to 5 stories for free.
To access additional content, they can choose from 30-day, 1-year, or 3-year subscription plans. Stories can also be downloaded and listened to offline. The app is available for iPhone and has been downloaded over 500,000 times.
| Company Name | Autio |
| Founder | Woody Sears, Bill Werlin, and Kevin Costner |
| Founded | 2020 |
| Product | Audio for Travel |
| Asked For | $1M for 5% equity |
| Final Deal | No Deal’s |
| Shark | No Sharks |
| Episode (Shark Tank USA) | S14 E17 |
| Air Date | Mar 17, 2023 |
| Business Status | In Business |
| Website | Visit Website |
| Headquarters | Santa Barbara, California, United States |
| Lifetime Worth (Sales) | TBD |
| Go To Amazon | $3M *estimated |
| Watch On | Amazon Prime |
Another Shark Tank Pitch
Who Is The Founder Of Autio?
This startup was founded in 2020 under the name “HearHere” by Woody Sears, Bill Werlin, and Kevin Costner. It was rebranded to “Autio” in June 2022.
Woody Sears
Sears is the co-founder and CEO of Autio. He holds an MBA from Pepperdine University and has received several awards, including the Innovation Award and iKids Award.
Bill Werlin
Werlin is the co-founder and content creator of the company. Born in the Colorado Mountain Territory, he grew up working in the ski industry with his family.
Kevin Costner
Costner is a co-founder of Autio and is also a renowned producer and actor. He has won Academy Awards and Golden Globe Awards twice for his work.
How Was The Shark Tank Pitch Of Autio?
Woody Sears entered Shark Tank seeking $1 million for 5% equity in Autio. The sharks were initially astonished by this demand. Woody explained how Autio helps travelers by providing stories about the history and culture of specific locations.
The average story length ranges from 3 to 20 minutes. In 2022, the company generated $700,000 in sales, compared to $210,000 in 2021. They are currently on track for a $2 million annual run rate.
So far, Autio has raised $3.5 million. The app has 15,000 paid members, 210,000 registered users, and 500,000 downloads. 70% of users renew their subscriptions, and the customer acquisition cost has decreased from $38 to $10.
All the sharks except Kevin O’Leary declined to invest. Kevin offered $1 million for 15% equity. Woody countered with $1 million for 6.5% equity. Kevin then offered 12% equity, to which Woody responded with 7% equity.
Kevin’s final offer was 10% equity, but Woody refused to go above 7% equity. As a result, the deal did not close on Shark Tank.
Finalize: Autio couldn’t find a deal on Shark Tank.
Autio Shark Tank Update
Woody Sears, the co-founder of Autio, entered Shark Tank and presented his business to the sharks. He detailed the funding received so far and the total number of subscription users for the app. The discussion between Woody and the sharks was extensive and focused on the business idea.
We will be following Woody Sears, Bill Werlin, Kevin Costner, and their company for further updates.
What Is The Net Worth of Autio?
The current estimated worth of Autio is $20 million. Founded in 2020, the startup has raised a total of approximately $4.8 million in funding. This is Woody Sears’ second startup; his first, Zuuka, raised $2 million in funding.
Millions of people are using the app, and it has been featured in numerous media publications, including Forbes, The New York Times, Outside, and TechCrunch.
