|1||111% average week-over-week growth on new accounts|
|2||Team including advisors from Google, Amazon, Netflix, and Forbes Tech Council|
|3||Recognized by Ludacris, Charlie Sheen, and Wilf Scolding from Game of Thrones|
|4||Global gigs and e-gigs market expected to reach a value of nearly $314.29 billion by 2022|
|5||USA yearly industry growth: 2.4% (That's almost $1B a year)|
Doodeo is an ingenious concept filled with awesome, boundless opportunities. The thing that excites me most about the platform is its ambitious goal to help, support, and nurture entertainers. Investments in a company are based on the hard work and dedication of the team working behind the scenes. It's clear that Rony is the type of entrepreneur that has the executive skill, vision, and leadership to make all of Doodeo's goals a successful reality. While leading the company, He has also managed to assemble an accomplished and talented founding team that is more than qualified to take the platform to new and impressive heights. From what I've seen, this company is on an exciting journey toward epic growth! Rony has chosen to be a CEO for the people, and instead of resting on his title, he actively seeks out the opinions, suggestions and needs of his many users. I can truly feel the drive and passion of Rony and his whole team. I can't wait to see the astounding magic they will make as Doodeo rockets its way toward Success!
LinkedIn is for networking, Gigsalad is for getting booked and Instagram is for sharing content, but they don’t seamlessly work together to connect entertainers with opportunities. Entertainers are some of the best storytellers, yet they don’t always get the chance to showcase their talent to those who are seeking it most.
On the other hand, gig managers are looking for remarkable entertainers but online directories lack transparency and clarity, leaving them to depend on less-preferred recommendations, even though the best person for their needs could be literally living next door.
Statistically, performing artists have the highest rate of self-employment among other professions, meaning they always have to look for jobs, which leaves them with not enough time to work on their talent or improve their skills.
For early performers, making a loss on a gig is common with the time spent networking, promoting, and traveling often outweighing their pay.
This is where Doodeo comes in, creating an online profile for entertainers offering one place for promoting, sharing content, and connecting with opportunities.
The global entertainment industry is a large and growing industry. Entertainers are looking for new ways to book gigs and reach new audiences, while gig managers are looking for an easy way to access fresh talent.
We have four revenue streams; premium subscription, gig booking fee, live streaming, and ads on the platform. The figure below provides an example of how our revenue streams will work.
Disclaimer: These are forward-looking figures that cannot be guaranteed.
Paid monthly: $16.99/month. ➡️ Paid yearly: $12.99/month
18.7% of customers choose to pay yearly, hence avg. subscription per month is $16.24.
Not only do we allow clients looking for entertainers to post gigs on Doodeo, our AI regularly scrapes through the web to find gigs posted on many platforms globally and automatically makes them accessible on Doodeo. We are currently dealing with major classified websites, however, we are looking to scale our AI and target more websites once we receive further funding.
Note: The video mentions 44% as it was produced in our early planning days of this campaign, however, this number excitingly grew to 111% today.
The above chart accounts for the Doodeo’s free model. Doodeo Pro, our premium tier, has been in extensive analysis and testing, with usage on our free tier providing valuable insight from our community.
Doodeo Pro is our key next step and this funding will allow us to launch Doodeo Pro, allocate more resources on this vertical and kick off it's growth.
Tailoring Doodeo to entertainers allows us to shape the model for the sector and provide valuable tools regardless of the type of entertainer you are. This ensures gig managers can book a magician and a musician all through the same platform.
🎉Thank you Ludacris, Charlie Sheen, and Wilf Scolding!
🙌We are still amazed.
Ludacris: See post here
Charlie Sheen: See post here
Wilf Scolding: See video her
Unfortunately - COVID emerged, separated people, and turned off the whole physical presence for gigs.
But...Live streaming grew by 34%. Opportunity? Yes.
We started building a live streaming functionality to help our users make money from the comfort of their homes by giving our users 2 options: create a Public live stream session with a donation button or a private room protected by a password where our users can charge a private online group an hourly fee. (Will keep you updated as we progress)
There’s so much potential for a platform like Doodeo. We have the opportunity to evolve with the creative industries, adding features that work for entertainers and provide them with what they need and want to get gigs.
This means increasing their revenue through new streams such as teaching their craft. This also means finding new ways to stabilize their income through patrons and finally, it means exploring new ways for them to share and create content.
Then we're the team to back.
✔️Experienced team/advisors with previous exits
✔️Advisors that are ex-Google, Amazon, Netflix, and Forbes Tech Council.
✔️Revenue via multiple streams including a premium offering and live streaming
✔️Multi-billion dollar market opportunity
The opportunity to invest in Doodeo is now. We look forward to sharing our success with you.
Get in on the action today and invest in the future of entertainers.
Doodeo has financial statements ending December 31 2019. Our cash in hand is $3,500, as of August 2020. Over the three months prior, revenues averaged $0/month, cost of goods sold has averaged $120/month, and operational expenses have averaged $3,576/month.
Management’s Discussion and Analysis of Financial Condition and Results of Operations
You should read the following discussion and analysis of our financial condition and results of operations together with our financial statements and the related notes and other financial information included elsewhere in this offering. Some of the information contained in this discussion and analysis, including information regarding the strategy and plans for our business, includes forward-looking statements that involve risks and uncertainties. You should review the "Risk Factors" section for a discussion of important factors that could cause actual results to differ materially from the results described in or implied by the forward-looking statements contained in the following discussion and analysis.
Doodeo is the Linkedin for entertainers where we allow our users to connect, collaborate, and find opportunities.
We aspire to become the true LinkedIn for entertainers globally.
Given the Company’s limited operating history, the Company cannot reliably estimate how much revenue it will receive in the future, if any.
Doodeo Inc was incorporated in the State of Delaware in October 2018.
Since then, we have:
Historical Results of Operations
Our company was organized in October 2018 and has limited operations upon which prospective investors may base an evaluation of its performance.
Liquidity & Capital Resources
To date, the company has been financed with $166,246 in equity.
After the conclusion of this Offering, should we hit our minimum funding target, our projected runway is 10 months before we need to raise further capital.
We plan to use the proceeds as set forth in this Form C under "Use of Funds". We don’t have any other sources of capital in the immediate future.
We will likely require additional financing in excess of the proceeds from the Offering in order to perform operations over the lifetime of the Company. We plan to raise capital in 7 months. Except as otherwise described in this Form C, we do not have additional sources of capital other than the proceeds from the offering. Because of the complexities and uncertainties in establishing a new business strategy, it is not possible to adequately project whether the proceeds of this offering will be sufficient to enable us to implement our strategy. This complexity and uncertainty will be increased if less than the maximum amount of securities offered in this offering is sold. The Company intends to raise additional capital in the future from investors. Although capital may be available for early-stage companies, there is no guarantee that the Company will receive any investments from investors.
Runway & Short/Mid Term Expenses
Doodeo Inc cash in hand is $3,500, as of August 2020. Over the last three months, revenues have averaged $0/month, cost of goods sold has averaged $120/month, and operational expenses have averaged $3,576/month, for an average burn rate of $3,696 per month. Our intent is to be profitable in 13 months.
Since we raised our first round, we start hiring more people and 3rd part apps that allowed Doodeo to grow.
In the past three months, a large portion of expenses were from one-time costs: CPA review, Wefunder video production, etc. We now have a burn of around $997/month.
We hope (but not guarantee) our revenue in 3 months will be $15,668 and our expenses $9,919 and in 6 months, we hope our revenue will be $241,492 and our expenses will amount to $169,259. If we reach our minimum fundraising target, we have a Google marketing plan in place which is forecasted based on our CPA, to generate the users required which we believe will accordingly generate the revenue mentioned. Of course, our expenses include marketing budget + COGS + Salaries + SG&A.
We expect to need a minimum of $48,621 in order to reach a revenue-generating point. We have multiple revenue streams in the pipeline as per the below:
1) Subscription model @16.99/month (launching in November)
Doodeo offers a subscription model that gives the user additional benefits and functionalities to put them in front of the line.
2) Livestreaming (donations and/or private sessions % fees - launching in October)
Users will be able to stream live on Doodeo to the public or to a private group, hence Doodeo will charge a % as fees.
Doodeo was all about entertainers finding gigs, but unfortunately, due to COVID, gigs have been stopped. Once gigs are back, Doodeo will be charging a % fee. For now, Doodeo is offering the livestreaming for our users to generate an income.
We are aiming to use our funds raised on Wefunder and re-invest our revenue until our next raise to accelerate our growth.
The Company might not sell enough securities in this offering to meet its operating needs and fulfill its plans, in which case the Company might need to reduce sales & marketing, engineering, or other expenses. Were recurring revenue to decrease, further cuts would be needed and hurt the Company’s ability to meet its goals. Even if the Company raises the entire round successfully, we may need to raise more capital in the future in order to continue.
While the Company believes in good faith that its business plans have a reasonable chance of success, the operation of the Company is ultimately speculative and involve the possibility of a total loss of investment, due to any number of considerations. Investment is suitable only for individuals who are financially able to withstand the total loss of their investment.
The Company’s revenue model may be impaired or changed. The Company’s success depends mainly on its ability to receive revenue as earnings from the Company’s software. The company may generate but retain some or all of the earnings for growth and development of its business and accordingly, not make distributions to the shareholders. If the Company does not generate revenue, its business, financial condition, and operating results will be materially adversely affected.
The market for technology companies is not predictable. While we may be able to sell the company for its technology, client relationships, team or other factors, there is no guarantee that it can be sold, nor that it will become profitable, nor that it will reach an Initial Public Offering (IPO). Even if those do occur, there is no guarantee that investor returns will be positive.
The Company may have difficulty obtaining additional funding and the Company cannot assure you that additional capital will be available when needed, if at all, or if available, will be obtained on terms acceptable to the Company. If the Company raises additional funds by issuing debt securities, such debt instruments may provide for rights, preferences or privileges senior to the Securities. In addition, the terms of the debt securities issued could impose significant restrictions on the Company’s operations. If the Company raises additional funds through collaborations and licensing arrangements, it might be required to relinquish significant rights technologies or product candidates or grant licenses on terms that are not favorable to the Company. If adequate funds are not available, the company may have to delay, scale back, or eliminate some of its operations or our research development and commercialization activities. Under these circumstances, if the Company is unable to acquire additional capital or is required to raise it on terms that are less satisfactory than desired, it may have a material adverse effect on its financial condition.
Even if the Company is successful, an investor may want immediate access to the then net worth of the investment, but selling private securities can be difficult or impossible. In this case, an investor may need to wait until a liquidity event, and there are no guarantees one will occur.
The company has a limited operating history upon which you can evaluate our performance, and accordingly, our prospects must be considered in light of the risks that any new company encounters. The Company is still in an early phase and is just beginning to implement its business plan. There can be no assurance that it will ever operate profitably. The likelihood of its success should be considered in light of the problems, expenses, difficulties, complications, and delays usually encountered by companies in their early stages of development. The Company may not be successful in attaining the objectives necessary for it to overcome these risks and uncertainties.
We may implement new lines of business or offer new products and services within existing lines of business. As an early-stage company, the company may implement new lines of business at any time. There are substantial risks and uncertainties associated with these efforts, particularly in instances where the markets are not fully developed. In developing and marketing new lines of business and/or new products and services, we may invest significant time and resources. Initial timetables for the introduction and development of new lines of business and/or new products or services may not be achieved, and price and profitability targets may not prove feasible. We may not be successful in introducing new products and services in response to industry trends or developments in technology, or those new products may not achieve market acceptance. As a result, we could lose business, be forced to price products and services on less advantageous terms to retain or attract clients or be subject to cost increases. As a result, our business, financial condition or results of operations may be adversely affected.
Purchasers will not be entitled to any inspection or information rights other than those required by Regulation CF. Purchasers will not have the right to inspect the books and records of the Company or to receive financial or other information from the Company, other than as required by Regulation CF. Other security holders of the Company may have such rights. Regulation CF requires only the provision of an annual report on Form C and no additional information – there are numerous methods by which the Company can terminate annual report obligations, resulting in no information rights, contractual, statutory or otherwise, owed to Purchasers. This lack of information could put Purchasers at a disadvantage in general and with respect to other security holders.
Purchasers will be unable to declare the Security in "default" and demand repayment. Unlike convertible notes and some other securities, the Securities do not have any "default" provisions upon which the Purchasers will be able to demand repayment of their investment. Only in a liquidity event, may the Purchasers demand payment and even then, such payments will be limited to the amount of cash available to the Company.
Our future success depends on the efforts of a small management team. The loss of services of the members of the management team may have an adverse effect on the company. There can be no assurance that we will be successful in attracting and retaining other personnel we require to successfully grow our business.
Third parties or competitors may copy features or functionality and this could impede growth and ultimate success. The company is mitigating this risk by developing proprietary functionalities and algorithms that have standalone value.
Our management has prepared assumptions and analyses that are driving our business plan. If these assumptions prove to be incorrect, or the analyses are applied incorrectly, our financial results may be negatively impacted. Whether actual operating results and business developments will be consistent with our management’s assumptions and analyses depend on a number of factors, many of which are outside our control, including, but not limited to:
- Whether we can obtain sufficient capital to sustain and grow its business
- Our ability to manage the company’s growth
- The timing and costs of new and existing marketing and promotional efforts
- Our ability to retain existing key management, to integrate recent hires and to attract, retain and motivate qualified personnel
- The overall strength and stability of domestic and international economies
- Consumer spending habits
In order to achieve our long-term goals, we will need to raise funds in addition to the amount raised in the Regulation Crowdfunding offering. When it comes time to raise additional funds, there is no guarantee that we will be able to raise such funds on acceptable terms or at all. Or, if we do raise funds from equity offerings, those future investors may receive securities that are on more favorable terms than those offered to investors in this offering. If we are not able to raise sufficient capital in the future, we may not be able to execute on our long-term goals.
As social-network hosting information that may be used to identify users and their networks, we may be the subject of computer malware, viruses, hacking, phishing attacks, and spamming. Should we be unable to effectively manage these attacks and threats to user information, we may experience harm to our reputation and our ability to retain existing users and attract new users.
The Company may never receive a future equity financing or elect to convert the Securities upon such future financing. In addition, the Company may never undergo a liquidity event such as a sale of the Company or an IPO. If neither the conversion of the Securities nor a liquidity event occurs, the Purchasers could be left holding the Securities in perpetuity. The Securities have numerous transfer restrictions and will likely be highly illiquid, with no secondary market on which to sell them. The Securities are not equity interests, have no ownership rights, have no rights to the Company’s assets or profits and have no voting rights or ability to direct the Company or its actions.
We will be adaptive to ensure our tools will support entertainers across all categories. However, the long term implications of COVID-19 are unknown globally, hence the future prediction of the entertainment industry is impossible and can cause implications to our business.
Temporary Rule 201(z)(2) provides temporary relief from certain financial information requirements by allowing issuers to omit the financial statements required by Rule 201(t) in the initial Form C filed with the Commission. This offering has commenced in reliance of Temporary Rule 201(z)(2) and, as a result, the following must be disclosed: (i) the financial information that has been omitted is not otherwise available and will be provided by an amendment to the offering materials; (ii) the investor should review the complete set of offering materials, including previously omitted financial information, prior to making an investment decision; and (iii) no investment commitments will be accepted until after such financial information has been provided.
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