Updates from MaestroConference / VoiceVoice
Here's an update we sent this week to our investors (edited to redact investment-related details) about the growth we've seen since COVID suddenly changed our normal:
First I want to extend my sincere concern for each of you as we each navigate the challenges this pandemic brings. I do feel grateful that my family is well. I hope you are each healthy as well; and furthermore that you feel some safety for that which matters most in the face of the economic situation.
As you might imagine, we have been very busy. As the technology leader for highly interactive virtual events, our two platforms- MaestroConference + VoiceVoice- are designed to connect and engage people virtually, and there's no denying business is growing quickly:
- New accounts, and website traffic are up 1000%+ from previous levels
- March revenue was up 50% over the previous months, most of that in ongoing subscriptions
- Subscription revenue itself is up nearly 50% as well and increasing
- New annual plan subscriptions are more than double past levels
- We ended Q1 both profitable and cash flow positive. And see profitability this year as easily achievable (although we may instead opt for greater growth).
And we think the best for our business is still very much ahead of us.
- We released the first public "purchase" option on the VoiceVoice website, and got our first customer within days of that ($2500/)
- We're acquiring the option rights to the IP (and a license as trial) from a small company with a complementary video conferencing solution, from an entrepreneur motivated by our mission, and expect to generate new additional revenue with upwards of 80% gross contribution margins from that
- We're piloting B2B conversations (so far two: HR professionals, and event producers; with accolades already) and one new benefit conversation for existing communities to discuss how they can join in "mutual aid" to those around them.
Fundamentally, we offer a uniquely interactive virtual experience for people to engage, at a time the world needs that more than ever.
And perhaps material to you, I'm personally very energized, as is our team. While I do miss the office collaboration I feel very fortunate to now be in a quiet modern and airy home office recently built behind our home, and know the kids (5 and 3) are thoroughly enjoying the attention they're getting, and my wife rising to the challenges as well. Of course as you do I feel very very concerned about the pandemic -with thoughts about people I know (hi Dad! You especially!) and care for many known and unknown who will be affected. But fundamentally I'm now at peace that it's ok that this business is thriving in this situation. We have a mission (voicevoice.com/about) and that is what we are doing.
Thank you for supporting us. May you have health and peace through this,
-Brian & the MaestroConference / VoiceVoice team
Questions? Anything we can help you with? Message us at email@example.com.