Hello Wefunder Investors,

We’ve now almost concluded the fifth month since the WeFunder third round financing was initiated. 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.

Cash Burn Rate Reduced 50%

As mentioned in last month’s update, all eight Universities where OodlesDeals is present — U of O Eugene, CSU - Chico, CSU - Sac State, UC - Berkeley, UC - Davis, Northwestern University, Loyola University, and DePaul University — have closed their campuses through the end of this academic year. CSU - Chico and CSU - Sac State have gone even further — while campus will reopen in Fall, classes will primarily be on-line for the semester. As we learn more from the other Universities when they each announce their opening plans, I will continue to update you.

As a direct result, the OodlesDeals management team had instituted an essential-need only expenditure policy. Our monthly cash burn rate has dropped by ~ 50% as a result of these actions. We will maintain this policy till further notice.

New In-App Messaging Feature

Continuing their work on driving increased user engagement, the Oodles Product Development team has incorporated a new in-app messaging feature into the OodlesDeals app. A highly customized feature that can be targeted to users in a certain geography, or those users exhibiting certain behaviors, the OodlesDeals Marketing team can now inform these users of new restaurants, events or promotional specials as soon as the user opens the app.

The Android version of the OodlesDeals app already has this new feature included in the latest version of the app available on the Google Play App Store, and the iOS version is due to be released soon. As soon as the user opens the app, they will be instantly aware of the featured item displayed via the in-app message, making it that much easier and immediate to invite friends. The OodlesDeals Product Development team believes this is yet another way of driving higher user engagement and transactional growth via the app.

As you know, this process of enabling users to invite friends and spend time together is a patented protected one, and is what makes the OodlesDeals app truly unique and added-value to use.

We will continue to monitor the Coronavirus pandemic, to make the appropriate decisions necessary over the next several months.

On behalf of Asheesh and the entire OodlesDeals management team, I ask you to stay healthy, and stay safe during this time of crisis. We are all in this together.

Sajal Sahay

Co-founder & CEO