Renee Wang, founder and CEO of podcast app Castbox, recently gave a brief interview to Bloomberg about the current state of her company. She said Castbox has 30 million listeners, including 3 million daily active users and generating more than 28 million downloads.
On the financial side, Wang said the company has started work on a premium content strategy. “There’s already a lot of proven models that people want to pay for this kind of audio,” she said. The company has raised about $30 million to date, including a financing round of $13.5 million in April 2018.
She said Castbox could turn a profit as soon as the end of 2019. Despite the recent trends for IPOs in the audio industry, she plans to keep the company privately owned in order to pursue more experimentation and original ideas.