Please elaborate on the relationship between the 2 founders. How long have you known each other? What have you worked on together in the past, if anything? etc..

Awesome question, thanks for asking it Matthew! Asheesh and I have known each other all our lives. See our intro letter above for more detail. :) The beauty of our relationship is the complementary work experiences. Asheesh is a 20+ year veteran of retail business relationships, and I have 20+ years in marketing, both B2B and B2C. Additionally, I've spent the last 10 years with a social marketing and mobile marketing focus. Since Oodles is a B2B2C focused business, our complementary business ...

How it is different from Groupon?

Another awesome question we'd love to answer, thanks for asking it Birun. Think about us as having the benefits of Groupon (aka scorching values) without the upfront costs. From both a vendor and consumer perspective. With Oodles, the vendor doesn't have to pre-sell unused inventory at a steep margin, but still can advertise a significant discount to make consumers interested in their product offering because of the pricing value of the third tier of our model. Also, the amount discounted is ...

Is this the very first fund raise you are doing? How much each of you have invested so far?

Hardik, Thank you so much for your interest in Oodles Corporation and your great questions. Much appreciated! Yes, this is the first fund raising campaign for Oodles Corporation. Our initial investment was $17,000 ($8500 each) and we have managed our finances very carefully. We have long term plans for the company and will continue to manage our finances with the same vigor. For more details about about the financials for Oodles Corporation, please review our Schedule C. Thank you.

I have just invested in the company. Can you share more information about the patent? I could see that it's still under review and not issued? Is any patent number given yet? When you think the patent would be issued? Are you planning to file patent in other countries as well??

Thank you for investing in Oodles. We are honored to have so many folks like you believe and invest in the vision of Oodles - Deals & Events. Regarding our patent, please refer to the PDF investment deck embedded as a link above, it contains specific information about our company’s value proposition, and the patent and how it aligns with the value proposition.

Sajal - Thanks for the answer. But you didn't answer what i wanted. 1. Patent Number?? 2. Are you planning to file the patent in other countries??

Sagar, we cannot disclose the patent number, but the investment deck contains the business goals we are focused on achieving. The approach for the patent as described in the investment deck should enable us to achieve these goals. Thanks again.

Oodles Corporation

The ONLY APP that enables users to invite friends and go out to restaurants together

oodlescorp.com

San Ramon, CA

Technology Food & Beverage B2C Mobile Apps

Highlights

Oodles is focused on supporting and helping local restaurants survive the pandemic.

Restaurant's app-generated revenue grows at 20% monthly on average.

28,000 users in the seven cities across three states.

Experienced management team with deep expertise in consumer, retail and mobile industries.

Team

There's no app that drives foot traffic into restaurants via friends inviting and going out together. So, we made it.

We as founders (Saj, Ash) remember our time at University primarily via the restaurants we visited with our friends. At school reunions, years later, the same friends always meet at the same restaurants we used to go to together. This spurred us to create the OodlesDeals mobile app, with a mission for our company of enabling people to establish and strengthen personal relationships throughout their lives.

Restaurant's Revenue Generated Via OodlesDeals

On average, this is growing 20% month-over-month.

Chart represents consolidated data from > 100 restaurants across 8 universities that have Oodles.

Students Engage with the App — UC-Davis Example

Students love us because they save money on great food. What's even better, when they go to restaurants with their friends, they save even more and have a great time.

Why OodlesDeals is working

College students are busy. Still, they want to spend time with friends and create memories that last a lifetime. Going out to eat with friends is the #1 aspirational activity. Students already eat out 1-2x times per week on average.

With this said, money is always tight— as evidenced by the trillions dollar student debt crisis confronting millennials in the US.

So, we made Oodles to solve both problems — we incentivize students to invite their friends to go together to the restaurants they love around campus, and when they do go together, they get the best value.

How we make money

We charge a monthly marketing services fee, and per transaction charge for deals redeemed in the restaurant. We also charge for events we execute on our vendor's behalf.

Once critical mass of users on a campus is established, $45,000 revenue on average at each University is achievable, and with 4,400 universities, our total addressable market is about $200 MM.

Milestones

Phase I - University of Oregon 1st University [Completed since 1st Wefunder Raise]
Established minimum viable proposition of app. Determined student acquisition methodologies. Signed first paying customer.

Phase II - Revenue Generation [Completed since 2nd Wefunder Raise]
Released v2 of app, simplified transaction process. Established new University launch six-week process.

Phase III - Revenue Acceleration [Completed since Seed round Raise]
Released v3 of app, expecting significant growth in engagement via app. Revenue growth >400% Y-O-Y and accelerating.

The Plan— Revenue Potential

Scale nationwide. Grow from University students to other consumer target groups. Extend revenue from vendor focused to consumer advertising focused. Extend app usage from Restaurants to all Social Retail activities (movies, put-put golf, etc). Grow Internationally.

Downloads

Overview