Question 1

Hi guys!! Very interested in your company and think that it's a great idea for disrupting the wordpress industry. I just had a few quick questions: How many full-time employees do you have? Do any of your founders current take a salary? Also noticed in the risks section that y...

Accepted Answer

Hi Jack, great to meet you! We currently have 7 team members. 3 are full time, with two more going full time Aug 1st and 2 remaining part time. 2 of our co-founders do take a salary. Regarding the question on the SAFE agreement, it will convert upon our next round of financing (A Round). The statement about the SAFE never converting would be in theory if we never took another round of financing, then the SAFE would not convert to equity.

Question 2

I realy wanted to buy some shares of it because I see it interesting but lack of knowledge and after looking at the video too I couldn’t get anything what exactly this company does any simple language to understand please??thank you and sory

Accepted Answer

Hi Aashu! Thanks for your interest in us. Every website needs a server to run on and a person to create it. The platform people use to build a website is WordPress. The servers that websites run on is what we provide. Convesio is specifically designed to host WordPress websites in a high performance environment. Many businesses rely on their website for sales, leads etc. and if the website is slow or down it directly relates to lost revenue and customers. Convesio is a pla...

Question 3

I've got some questions which I'd like addressed before I invest: 1. How did you arrive at your current Valuation? 2. Do you plan to go into future financing rounds (Reg A+) within 2 years at least? 3. What exit strategy are you envisaging, if at all, and how soon would that e...

Accepted Answer

Hi Oladipupo, great to meet you! We pitched several VC’s, Angel groups, and private investors to determine what valuation would have the most traction as well as analyzing other comparable companies and the amounts they raised during their seed rounds. This current valuation is based on market size, team experience, product stage, and also conservatively estimated to produce the best terms for our initial investors. Our plans are to raise additional rounds of funding to continue the growth of...

Question 4

Regarding SAFE conversion, your answer to Jack Sargent was disconcerting, quote "The statement about the SAFE never converting would be in theory if we never took another round of financing, then the SAFE would not convert to equity." So, let me get this straight... if in fact...

Accepted Answer

Hi Barnaby, great to meet you! This might be a little remedial, please forgive me, I want to explain this for the benefit of everyone who might read it. A SAFE by its very nature is an agreement for future equity, so some event must occur to convert the SAFE into equity such as the sale of the business, IPO, or a future financing round. SAFE agreements are very popular and extremely common for tech startups. To your point about whether we would not convert the SAFE if we hit cash flow positiv...

Question 5

I'm not too familiar with the web hosting business, but your product seems at risk to become commoditized fairly quickly/easily. Please comment if you disagree. Also, the campaign page indicates you raised $600k+ from only 29 investors. Is this correct? Was that on Wefunder?

Accepted Answer

Hi Jeff, nice to meet you! The hosting market as a whole has been commoditized over the last 15 years. Companies like GoDaddy and other large hosters have been racing to the bottom of the market. As the collective experience of the market is maturing, businesses now realize that cheap shared hosting is not sufficient for serious businesses. A $3 a month hosting account for an ecommerce store selling $30k in product each month, is not a wise choice. In our pitch deck you will see that two segm...

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