SourceBottle: The quiet achiever in Melbourne’s tech scene
If you work in Media or at the very least have ever Googled how to get in front of a media company, it is likely that you have come across the service SourceBottle.
The venture was founded in 2009 by Melbourne-based entrepreneur Rebecca Derrington and has to a certain extent been operating under the radar. It’s been a case of: everyone is using it, everyone knows about it, but other than some press focusing on her being a “mumpreneur” Derrington really has not had major recognition from technology media on some pretty impressive achievements.
SourceBottle is one of Australia’s top performing websites, the visitation far outranking even some of the country’s most well-known niche publications.
The venture has been bootstrapped from day one, with Derrington drawing on her Public Relations and Legal experience to get it off the ground. It is also cashflow positive, sourcing revenue through EDM advertising, on site advertising and through an expert subscriber feature.
Sourcebottle was one of the original technology based “connector” businesses to come out of Australia, something that should be noted and recognised.
Both Sourcebottle and Derrington’s spin off site The Media Bag have become major daily destinations for those in the small business sector, both in Australia and their new markets in the US and UK as the company starts to expand. The sites in the US and UK have more of a female business and product focus, whereas Australia is more broad.
This is where the real value lies beyond revenue.
Technology businesses with engaged business customers are a hot button for investors at the moment.
The recent $1.5 million of further funding secured by Posse Founder Rebekah Campbell is proof of that. The value in her business is all around the impressive 50,000 SMBs that she has using the system. SourceBottle is on its way to having similar numbers. Startup Daily estimates a business user base of 25,000 Australian businesses alone without even looking at international markets.
Basically, Derrington has started one of the most successful MediaTech companies in Australia.
And now larger media organisations as well as major PR and marketing firms are starting to notice that a tool such as SourceBottle would integrate perfectly into their suite of products. It will be interesting to see over the upcoming months if some of these industry murmurs morph into serious conversations with Derrington.
In addition to that, the company would also be highly investable, given that a single SourceBottle call out from a smaller media company such as Startup Daily yields hundreds of responses from business owners almost immediately for us. I think it would be pretty safe to assume call-outs from places like Newscorp, Fairfax or TV networks would receive significantly higher engagement.
Engagement is the hardest metric to conquer for any fast growth tech startup. Engagement in the B2B space is twice as hard as the consumer market.
Derrington has mastered both.