Hello Wefunder Investors,
We’ve now concluded the sixteenth month since the WeFunder second round financing was successfully completed. As in previous months, I wanted to provide you with an update on the many things happening with the OodlesDeals mobile app, and overall at the company.
Company Revenue For November ’19 > 6x That Of November ’18
In last month’s WeFunder update, I shared with you that October ’19 revenue for the company was > 5x what we achieved in October ’18. We have since closed the books on November ’19, and the results for November ’19 were > 6x what we achieved in November ’18. The activities around consumer advertising that I had written about in last month’s report, as well as accelerated engagement by OodlesDeals users with the restaurants on the app, were the main drivers of this growth in revenue.
I will go into more detail on full Q4 ’19 revenue in next month’s WeFunder update.
I had also indicated that final paperwork was underway for the next round of funding for Oodles Corporation via WeFunder, in last month’s report. I am happy to say that the paperwork is now complete, and once a thorough review of the materials is conducted by the Oodles Corporation Executive Team, our third round of funding via WeFunder will launch. To get a head-start, please check out our www.wefunder.com/oodles profile page, and make sure to download the PDF embedded within the site for a summary of the investment opportunity Oodles Corporation represents.
The capital we secure from this next WeFunder fundraise will be primarily used to accelerate new University launches, new vendor and user sign-ups, and to drive per user engagement higher.
New Company Website Focused On Vendor Lead Generation Launched
As part of our gaining scale growth initiatives, a revamped website — www.oodlescorp.com — was launched earlier this week. This new website is the best place to fully understand the unique value proposition of OodlesDeals. New features included the ability of students in University towns that do not currently have OodlesDeals, to submit requests via the website to have their towns prioritized for expansion consideration. Restaurants in the cities where OodlesDeals is already available will be now also be able to sign-up online to speak with a member of the Oodles Corporation Sales team, to be featured on the OodlesDeals app.
I encourage you to spend ten minutes on the website, including viewing the videos embedded on the site for both a consumer and restaurant based view of the OodlesDeals app.
With this website refresh, once the Holidays season is completed, resources will be invested in vendor off-line and on-line lead generation to further grow the total number of vendor-partners on the OodlesDeals app. More details on this initiative will be provided in the New Year.
Innovative New Traffic Drivers Launched In Multiple Locations
The unique value proposition of OodlesDeals — sharing a deal with friends and going to eat at the restaurant with these friends, aka the SCORCHER tier, is a powerful tool for our vendor-partners to leverage for word-of-mouth awareness generation, and traffic in-store. Getting the consumer inside the restaurant enables our vendor-partners to showcase the positive experience of their restaurant, driving greater loyalty, as well as the opportunity to up sell these consumers on other items available for purchase.
The Oodles Corporation Marketing team worked with five key vendor-partners of the company in five different Universities where OodlesDeals is present, this past month. You can see each of the deals available below.
Results of these experiments have been very positive. Hundreds of students have found out about these deals from their friends, who share with them via the OodlesDeals app to get the necessary badge to qualify for the deal. Our vendor-partners are getting the benefit of this word-of-mouth advertising, and these students coming in together to enjoy the SCORCHER deals together.
As you know, this transaction process is a patented protected one, and is what makes the OodlesDeals app truly unique and added-value to use.
This next statement is the same one I’ve made in the past, and will always remain sincerely true — Asheesh and I owe our sincere thanks to all of you who have helped us get to this point. We look forward to continuing this journey together with you.
Co-founder & CEO
Privacy: We won’t share your data, or post to your wall, without your permission.
Already have a Wefunder account? Login
Don't have a Wefunder account? Signup