A simple storytelling platform born in Tokyo nearly 20 years ago is taking off with users as it's reimagined as a social media app. And it's backed by some big names in Chicago and across the world.
PechaKucha, which is Japanese for “chit-chat," was founded in 2003 by architects Mark Dytham and Astrid Klein as a presentation tool for live events. It allowed creators to make presentations that consisted of 20 image-based slides, each automatically advancing every 20 seconds. The idea was to create a time-based, visual presentation tool using only pictures and no words, allowing the presenter to more effectively communicate and engage with their audience. Think of it like a less pretentious TED Talk.
The live event tool spread like wildfire in Japan, eventually growing to more than 1,250 cities in 140 countries. More than 150,000 presenters have used PechaKucha in front of three million event attendees.
The company, which is based in Tokyo and Chicago and led by CEO Sean Smyth, an early Groupon employee, ran into the problem every live-event platform encountered last year: Covid-19. With events canceled across the world, PechaKucha pivoted to a virtual storytelling platform, allowing users to produce and share content online, host live virtual events, and build digital communities around specific topics. In just nine months, PechaKucha's online platform grew to over 100,000 beta users.
Smyth said PechaKucha is hoping to reach 1 million users by the end of the year, and grow its team of five to more than 20.
To do so, this week the company raised a $2.7 million seed round led by Japanese billionaire Muneaki Masuda, the founder of bookstore chain Tsutaya. Others in the round include well-known Chicagoans like Groupon and Uptake co-founder Brad Keywell, Ocient co-founder Chris Gladwin, and Jimmy Chamberlin, the drummer for The Smashing Pumpkins. Also investing were Chicago VC firms Lofty Ventures and Nameless Ventures.
PechaKucha's goal is to build a true social network to help people tell their stories and connect with others, Smyth explained. The online platform has been used by people like Etsy creators, who use PechaKucha to create product demos and promote their wares. Businesses use it to onboard new employees and explain company projects. Schools use it for educational tools. Job seekers are even using it to better tell their story to potential employers, Smyth said.
"People have great stories. They’re looking for effective ways to tell those stories, and get distribution for them," he said. "That’s what we can offer people."
PechaKucha's promise as a social media success is aided by its already strong offline following, Smyth said, adding that the organic growth the company has seen with its in-person events is only helping reinforce its growth online.
Smyth, who spent eight years at Groupon and before that worked alongside Chris Gladwin at MusicNow, has seen Chicago's evolution as a tech hub and believes PechaKucha is poised to be one of the city's breakout social media success stories.
"We’re creating a new social network that’s coming from Chicago. That’s fun," he said. "A true social network—that’s what we’re building."
