Note: This was supposed to be an internal note to the Wefunder team. I accidentally emailed it to everyone who follows Wefunder on our profile. Sorry about that.
In April and May, we ran the Ideas experiment. Here are the results.
It's clearly worth our time to launch Idea-stage companies (with little or no financials) that can collect $10k+ in commitments from their friends and family.
However, in April and May, we did not identify a channel where hundreds of these founders would come to us and apply.
Based on that experience, it looks like Ideas can add incremental growth to Wefunder, but by itself isn't going to be a magic bullet that makes us grow 10x year over year.
Right now, the Ideas page is very silo'd off, and is likely getting no inbound traffic since May. In October, we'll spend a couple days fixing our raise funds page and inbound flow to better integrate it as an option to inbound founders (and our referrals partners), and perhaps we'll work on some SEO for friends and family rounds. Perhaps then Ideas could add $5M+ to our annual results next year at little ongoing cost.
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