Hello Wefunder Investors,
We’ve now concluded the ninth month since the WeFunder second round financing was successfully completed. As in previous months, I wanted to provide you with an update on the many things happening with our OodlesDeals mobile app, and overall at the company.
20% Average Monthly Customer Revenue Generated From App
April ’19 was the first full month at all five Universities where OodlesDeals is present — U of O Eugene, CSU - Chico, UC - Davis, CSU - Sac State, and Northwestern University — where the students at all five schools were present on campus for the entire month. It is an ideal month from which to take a long-term trended view of student transactional growth, resulting in revenue generated for our vendor-partners.
The below chart shows actual monthly transactional growth for the last two school years, from September 2017 through April 2019, the last full month for which data is in-hand. A slope of this data translates to an approximate 20% monthly average growth. There are several factors driving this strong upward trend — launch of new Universities, growth in students at each school, and growth in usage of the app by the students.
We will continue to monitor this monthly transactional growth, through the course of this school year, summer ’19 and into the new school year. It is the best representation of overall usage of the app by the growing number of students at each of the Universities where OodlesDeals is present.
Growth In Consumer Engagement For OodlesDeals — UC Davis Example
OodlesDeals launched at the UC - Davis campus in mid-January ’18. By March ’18, > 1000 students had the app, and sufficient awareness of the value proposition of the app was established with this student base, whereby a trend line of monthly transactions via the app was established.
Given that more than a year has passed since March ’18, we wanted to look at the monthly transactions growth, as compared to the growth in number of students on the app on campus. The below chart provides this data.
Since the launch of V2 of the app in Summer ’18, growth in monthly transactions has outpaced the growth in number of students downloading the app. This is in the context of limited marketing investment on campus, consisting primarily of daily in-app notifications, weekly e-mails, and monthly events.
Oodles! Established As A Rallying Cry At CSU - Chico
On May 8th, OodlesDeals sponsored a pizza event at Mountain Mike’s Pizza, at CSU - Chico. Mountain Mike’s Pizza is a well-known California based chain of pizza restaurants, their pizzas are known to be made with the highest-quality ingredients, and the restaurants have a premium reputation with consumers.
Phi Delta Theta fraternity, a key partner of OodlesDeals on the CSU - Chico campus, helped spread the word for the event, both through their social media presence on campus, and by submitting the event to the University Students Announcement service. As the below screen shots show, Student Announcements referred to the event simply as “Oodles!”. Given the fact that most students know “Oodles!” means a great time with friends, the response to the event was overwhelming. Our vendor-partner was super-satisfied too…
This next statement is similar to one I’ve made in the past — Asheesh and I owe a big thanks to all of you who have helped us get to this point.
Co-founder & CEO
Privacy: We won’t share your data, or post to your wall, without your permission.
Already have a Wefunder account? Login
Don't have a Wefunder account? Signup