Good morning, Broadsheet readers! New York Gov. Kathy Hochul will debate her GOP opponent today; Harvey Weinstein’s Los Angeles trial began on Monday; and Caroline Spiegel is betting on the future of audio erotica. Have a terrific Tuesday.
In 2019, Caroline Spiegel dropped out of Stanford University. She struggled with an eating disorder, resulting in a loss of libido. During her recovery process, she discovered audio erotica—and wondered why that kind of content wasn’t more accessible.
Cue Quinn, an audio erotica platform. The now 25-year-old Spiegel is familiar with what it takes to create a startup; her brother is Snapchat founder and CEO Evan Spiegel. Her startup has been through several iterations since its 2019 launch before settling on its current model: a creator-driven content marketplace that Spiegel compares to Spotify. “This style of media has the potential to really be the predominant form of erotic content,” she says.
To support that vision, Quinn has raised a total of $3.2 million in funding from Day One Ventures, Global Asset Capital, Great Oaks, Scooter Braun’s TQ Ventures, and M13 founder Courtney Reum, Fortune is the first to report.
Spiegel says that the fundraising process for an audio erotica startup is complicated: “It’s very unpredictable who will respond well to something in this space, because you can’t tell from someone’s appearance what their sex life is like, what their relationship to sex is, or whether they carry a lot of shame around sex.” Quinn’s content was initially geared toward heterosexual women, but some female investors have “responded poorly” to the pitch while some “older white men are super gung ho,” Spiegel says.
Quinn’s content has expanded to appeal to queer women and is pivoting to attract more straight male listeners. It’s not the only audio porn platform out there; competitors include Dipsea, Emjoy, and Coral. And as a creator-driven platform, Quinn has some crossover with OnlyFans. Spiegel argues that expanding audio erotica’s reach could positively impact society because Pornhub-style pornography has deteriorated people’s ability to form healthy relationships. “When you have sex with your partner, it’s not going to be able to match that image,” she says. “This disparity has been harmful to people’s sex lives, and they’re looking for a different option.”
After a year on the App Store, Quinn has hit about $4 million in annual revenue with 740,000 user sessions a month. The app credits much of its growth to organic marketing on TikTok, choosing to leverage that platform rather than funnel its capital into paid advertising on Instagram or Facebook. Quinn’s TikTok garners about 10 million monthly views, and roughly 1% convert into app downloads.
“This is a category that has needed a lot of experimentation,” Spiegel says.
Emma Hinchliffe
emma.hinchliffe@fortune.com
@_emmahinchliffe
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ALSO IN THE HEADLINES
Ready to debateLee Zeldin, the Republican candidate in New York’s gubernatorial race, will debate Gov. Kathy Hochul tonight at 7 p.m. ET. The debate is the first and only one scheduled before the general election on Nov. 8. New York Times
On trial Harvey Weinstein’s criminal trial kicked off in Los Angeles with opening statements on Monday. Weinstein has pleaded not guilty to the 11 charges he faces, including four counts of rape. CNN
10 votesPenny Mordaunt was just 10 votes away from making the ballot against soon-to-be Prime Minister Rishi Sunak. Mordaunt’s allies say Boris Johnson’s entrance to the race spooked other MPs from supporting her, claiming they had no choice but to back Sunak to prevent Johnson from making the ballot again. Guardian
Workplace resistance A study analyzing over a decade of data at about 58,000 startups in Portugal found that workers put in almost 7% less overtime, and 1% fewer regular hours, for female bosses. Bloomberg
MOVERS AND SHAKERS Deloitte Digital has appointed Megan Fath U.S. chief design officer. Shake Shack has named Lori George Billingsley, former global chief diversity, equity, and inclusion officer for Coca-Cola, to its board of directors. Former PL+US executive director Molly Day has joined the Marshall Plan for Moms as chief operating officer.Film producer Cathy Schulman has joined A.I. communication and inclusion company Alphy as a board adviser. Save the Children US named Marilee Holmes as its first chief diversity officer. E.K. Chung, most recently director of UX for Google’s Pixel Watch and Fitbit devices, joins Reddit as vice president of user experience. Plant-based sexual wellness company Foria has hired Liz Dolinski as chief marketing officer and promoted Gemma DePalma to chief operating officer and Kiana Reeves to chief content officer.
IN CASE YOU MISSED IT
Leading ladyJill Biden wields far more influence than is customary for a First Lady, often sitting in on high-level meetings and helping shape policy priorities. She is also rumored to be the driving force behind Joe Biden’s decision to run or not run for reelection in 2024. NBC News
Survey saysOnly 13% of people living in states that have passed abortion bans support complete restrictions, compared with 10% nationwide, a new poll finds. Moreover, while 57% of women in states where abortion is banned think it should be legal all or most of the time, 47% of men believe the same. 19th*
Targeted policy A new Pentagon policy on reproductive health access is already drawing threats of legislative action from Republican lawmakers. Last week, Defense Secretary Lloyd Austin ordered several reproductive health safeguards, such as mandating the Department of Defense cover expenses related to accessing such care, like abortions.Roll Call
New treatments Doctors often prescribe antidepressants to women experiencing mood swings during perimenopause, though the medications don’t always work. Researchers are now exploring other treatments, including hormone therapies. Wall Street Journal
ON MY RADAR
Prue Leith can’t resist New Yorker
From wildfires to hurricanes, midwives could play a key role in disaster response 19th*
What was Brangelina? Vulture
Sex discrimination case in Hawaii could change high school sports across the U.S. New York Times
PARTING WORDS
“Just going to work as an actress consistently—for me, that was the soft life. At the beginning of the year on New Year’s—yay! On your birthday—yay! ‘I’m working—yes!’”
—Actor Angela Bassett, who carries over 100 acting credits to her name, on welcoming her demanding schedule
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