Show notes
Nov 18, 2024
Supporting Artists Whilst Changing The Marketplace
In this episode of ScaleUp Radio, Kevin Brent speaks with John Sewell, founder of Cosimo, an innovative online marketplace designed to help early-career and emerging artists showcase and sell their work. With over 1,200 artists already on the platform, Cosimo aims to make art more accessible and affordable while supporting artists through e-learning resources and strategic partnerships.
Key Discussion Points:
- Cosimo’s Unique Business Model
Cosimo is designed to support artists in their early careers, offering free listings for artists with the option of paid subscriptions for enhanced features. Unlike traditional art marketplaces, Cosimo doesn’t charge commission fees (which can range from 30% to 50% in the art industry). Instead, the revenue comes from artist subscriptions and corporate sponsorships. Buyers pay for shipping, which includes protection, similar to the Vinted model. - Overcoming Fundraising
Challenges
As a first-time founder, John shares the tough lessons learned from raising funds through the Seedrs crowdfunding platform. It took two years to secure his first funding round, gaining 150+ investors who now form a valuable network. He also highlights the setbacks caused by delays from a micro VC and stresses the importance of contingency planning for future fundraising. - Focusing on Marketplace
Development
While the platform initially concentrated on acquiring artists, the focus has shifted towards attracting buyers and proving market demand. John shares how content creation and social media are key to showcasing the artists' work, and discusses the development of e-learning resources to help artists improve their business skills. This shift is essential as Cosimo aims to create a sustainable and profitable business model before further investment. - Technology and the Future
John also looks to the future, exploring how technologies like AR/VR and AI can enhance the art-buying experience and create new revenue streams for artists. He envisions a world where AI helps more people tap into their creativity, ultimately expanding the market for Cosimo. - John’s Personal Growth as a
Founder
A lifelong learner, John relies on podcasts and mentorship to inspire new ideas and solve business problems. He finds walking while listening to podcasts particularly helpful and leverages AI tools like ChatGPT, Bard, and Midjourney to streamline various tasks. The support of other startup founders has also been instrumental in his journey.
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John can be found here:
https://www.linkedin.com/in/johnedwardsewell/
Resources:
Tetragrammaton with Rick Rubin podcast - https://www.youtube.com/@tetragrammaton_now
Canva - canva.com
ChatGPT - https://openai.com/