Beek

Beek was a Mexico City-based subscription platform for Spanish-language audio content, including audiobooks, meditations, audio series and original productions from creators. Listeners paid a monthly subscription (about $12) for unlimited access to the catalog, while creators were paid according to minutes listened, creating a two-sided marketplace between Spanish-speaking audiences and Spanish-language audio creators. The company described its ambition as building an audio platform for the roughly 480 million native Spanish speakers, positioning itself as a "Netflix for audio" in the Spanish-speaking market.

The company originated as a book-review community and mobile app that used YouTube clips and emojis to let readers discuss books, before pivoting to audio in 2019. Founders cited a supply gap in Spanish-language audio — about 25,000 Spanish audiobooks and 100,000 Spanish podcasts against 1.5x more native Spanish speakers than English speakers worldwide — and the long commute times common in Latin America as reasons for the shift. Beek also produced an exclusive slate branded Beek Originales.

The platform has since ceased operating. Its website states that more than 4 million people listened to nearly 200 million minutes of audiobooks on Beek, and directs users to Audible, Amazon's audiobook company, which acquired a significant part of the Beek Originales exclusive catalog.

Founding story

Founder Pamela Valdes conceived Beek while studying at the University of Texas in Austin, where it began as a hackathon project, with the aim of getting Latin American audiences to engage with better stories by making reading social and monetizing it through e-commerce. After finding the book-community product effective for existing readers but not for converting non-readers, Valdes pivoted the company to audio in 2019 together with co-founder and chief product officer Guillermo Sequeira.

Business model

Beek operated a two-sided subscription marketplace: listeners paid a recurring subscription (about $12 per month) for unlimited access to the full catalog, and creators were compensated on a per-minute-listened basis. Management contrasted this marketplace approach with a media-company model, arguing the network effect between listeners and creators produced a more sustainable business. Creators also participated in revenue-share arrangements and were reported to drive upwards of 70% of user acquisition.

Consumer subscription revenue, with a share paid out to creators based on minutes of their content consumed.

Traction

Beek reported more than 4 million listeners and nearly 200 million minutes of audiobooks listened over its lifetime. Between February 2021 and February 2023 its paying subscriber base grew 18x, and year-over-year revenue growth was reported at 8x at the time of Lightspeed's investment. As of July 2023 the app was rated 4.8/5 from 261 Apple App Store reviews and 4.6/5 from 8,920 Google Play reviews, with 1 million Google Play downloads. Team size was listed at 32.

Latest developments

Beek's service ended and its website now directs listeners to Audible, Amazon's audiobook subsidiary, which acquired a significant part of the exclusive Beek Originales catalog. Y Combinator lists the company as inactive.