Calm: The Sleeping Giant - [Business Breakdowns, EP. 08]

- Late starter in the space, post Headspace $70M+ funding but managed to hone in on the sleep pain point and led with a celebrity-first GTM

- Pavlovian use case of pre-sleep routine, hence embedded as consumer software product with very high post 1 year retention

- Freemium ladder conversion increasing from early single digits (1-3%) to late single digits (5-10%) through compounding accrual of consumer trust and stickiness

- Headspace took an edutainment first approach to meditation with well-being as the overall larger vitamin while Calm honed in on the sleep pain point to create a GTM wedge

- Revenue retention moats built through content (topics, celebrity exclusives), social network effects and B2B partnerships

- Consumer software equivalent of 20th century mint-tasting toothpaste Pavlovian hack

- Predictable revenue consumer SaaS economics with LTV of $120 at 2-3x of $40 CAC