Dear Investors,
We are days away from closing our Wefunder crowdfunding campaign, at which point all who have committed to participate will become shareholder in Onedome.
We are excited to have you on board.
Thank you for your patience, and your trust.
Before closing, we want to update you and share with you the key developments that have taken place since launching this campaign end of 2018.
Products
- On March 14th, we added a new product to our portfolio An Immersive & Interactive Dining Experience called
F.E.A.S.T | Fine dining, Entertainment, Art, Story & Technology
Our 30-day F.E.A.S.T run sold out in two weeks.
We have several five-star reviews on Yelp and other channels.
Our first run ends on 4/13, and we plan to introduce a new 90-day run on 5/3
High price-point ($160-$250 per ticket) and nicely profitable.
- Our Unreal Garden product has continued to evolve and improve.Technology stability
Software upgrades
Content updates
Increased interactivity, features and gamification.
Added User Generated Video Capture in-experience
We plan on switching out this exhibit with a new mixed reality experience still using the Microsoft HoloLens, likely towards the end of April.
- LMNL, our labyrinth of 14 interactive rooms & installations, continues to wow audiences and drive family audiences.
- Onedome Instagram page shows updates in content and experience
Sales
- Our ticket sales continue to trend upwards, during the last four weeks between Feb 25th and March 25th our sales were $605,000, or more than $150,000 per week.
- We also are seeing increasing demand for corporate rentals and buy-outs of our space and anticipate revenues from corporations becoming a larger part over the course of 2019.
Marketing
- We have had around 75,000 customers come through our doors since opening mid-October.
- We have had a significant amount of positive national and local press, including this amazing broadcast piece that aired on CBS News San Francisco last week.
Investments
- We signed an agreement to buy $300,000 worth of shares in the technology platform we use for our mixed reality experience, Enklu, of which we will pay half in shares and half in cash. We have already paid the first 2 out of 7 tranches.
Finances
- As of today (March 26th) we have $610,000 cash in the bank.
- Between the launch of this WeFunder campaign and today, we have raised approximately $85k in new equity (not counting wefunder) at the same $1.11 valuation from existing investors and raised approximately $623,000 in new debt, again mostly from existing investors
- Onedome’s revenues in 2019 are off to a strong start: according to our internally prepared and not yet reviewed preliminary financials, we had higher revenues in Jan 2019 than in all of 2018 ($605,000 vs. $535,000).
- We are also getting closer to break even. Based on our internally prepared and not yet reviewed financial statements, that are not yet accounting for non-cash items like depreciation, our loss in Jan was around $55,000 and in Feb was around $33,000, despite really bad weather in February and being outside of tourist season. We continue to anticipate cash break-even within a month or two.
- Please also note that our CEO Bertram and his family are significant contributors to the wefunder campaign, as they continue to be very positive about Onedome’s future prospects.
Outlook
- We have a number of opportunities to scale and open further Onedome locations in other US cities, which we are exploring for first half of 2020.
- We have been approached with an opportunity to create a touring model across Europe in late 2019 or 2020, which we are still evaluating.
- We have received partnership & licensing opportunities for The Unreal Garden, one of which are currently in negotiation.
- We have a number of activations and events taking place at Onedome San Francisco, which will continue to drive growth in the number of visitors closer to our goals.
Overall we are really pleased that we met many of the goals laid out in December and continue to be very excited about the next chapter.