Hello Wefunder Investors,
We’ve now concluded the eleventh month since the Wefunder first round seed financing was successfully completed and closed. 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.
CSU - Sacramento State Is The Fourth University For Oodles
The OodlesDeals business development team has been busy this summer, not only preparing for the new school year that is just around the corner for the three Universities where OodlesDeals is already available, but also at CSU - Sacramento State, which we are proud to announce as the fourth University where OodlesDeals will be available starting this Fall.
A wide range of restaurant vendors has signed up as launch partners for the OodlesDeals app at Sac State, as the school is known. Pizza, Burritos, Middle Eastern, Sub Sandwiches, Philly Steak Sandwiches, and Indian food, just to name a few. The OodlesDeals team has also been active signing up Student Ambassadors who will represent the app to their student colleagues at Sac State, and a diverse group of folks have already signed on to help grow awareness and downloads of the app on campus. Sac State will launch on OodlesDeals at the end of this month, once school begins. I will provide details of the launch in next month’s report.
With many thousands of students with the OodlesDeals app at each of the three other Universities where OodlesDeals is present, the business development team has also spent considerable time at CSU - Chico, UC - Davis, and the U of O - Eugene enlisting new vendors with Scorching deals on the OodlesDeals app. All partners, both current and new, are excited about the opportunity to specifically target college students via the OodlesDeals app, and have commented on the unique nature of the Scorching deals, and the value this brings to both students and to them as retailers. As each University re-starts for the new year, we will add the new partners to the already available wide variety of deals on the app, so keep a look-out!
As you know, this transaction process is a patented protected one, and is what makes the OodlesDeals app truly unique and added-value to use.
New Version Of The App Now Available On iOS and Android
In last month’s update, I described the OodlesDeals product development team’s work over the summer on simplification of the user experience. This work was completed earlier this month, and the new version of the app is now available on both the iOS and Android app stores. If you have previously downloaded OodlesDeals, please make sure to update your app to this new version. You can do this by going to the OodlesDeals website — www.oodlescorp.com.
With this updated version, the user has a quicker pathway to Scorcher status. This has two benefits — (1) it requires less steps for a user to get maximum value from the app, and (2) should accelerate the % of deals that are redeemed at the Scorcher tier. The user and vendor benefits from this simplification should have upward impact on the overall goal of accelerating transaction growth in the new year.
Second Oodles WeFunder Campaign Closing Later This Month
As you know, we have run our second fundraising campaign on WeFunder for the past several months. Thanks to your support, we achieved the required target for a successful close of the campaign, and have now started the clock for a formal closing later this month. You can go to www.wefunder.com/oodles to get full details on the campaign. I cannot complete this section without giving our sincere thanks to the entire WeFunder team, who helped us not only achieve the fundraising goal, but worked with us over the past several weeks rectifying any kinks encountered with the campaign. We owe them our gratitude for this highest level of service.
Summer is coming to an end, and the OodlesDeals team is looking forward to the new year, and the new schools where we plan on establishing a presence. Our product experience is simplified, and our marketing & sales processes are honed from the learnings gained during the past year. The team feels ready!
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
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