Our Progress Update Strategy - Less Than 48 Hours Left to Invest
I was thinking about the best way & format to update interested parties on our progress. Here's what I came up with 👇
We'll be reporting the following metrics every month:
- Traction: Volume processed, MRR (monthly recurring revenue: from premium seller subscriptions)
- Product: New tools, features, and improvements that have gone live on the marketplace, as well as any bugs that have been found and fixed.
- Usage: New registered users, new listings created
Our update strategy will be as follows: I'll be posting the above metrics on Twitter, then post a link to the Twitter thread on here (so all investors on Wefunder will receive a monthly notification via email).
You may wonder why I'd post our metrics publicly on Twitter. The answer is two-fold:
1. To build trust: By being transparent with our metrics, I think potential customers & sellers will be more trusting of the platform. As a result, they will be a lot more inclined to start trading on Toffee as opposed to an alternative. The added bonus is that sellers dissatisfied with other services will also notice our updates and make the switch to Toffee.
2. To create FOMO: FOMO (Fear Of Missing Out) is a great tool, if used properly. I've seen from close-by how VC's approached and funded founders who were "building in public" on Twitter. Potential employees who are looking to make a switch from their job at a FAANG company, will also see this and be interested in working at your startup.
I'm new here, what's Toffee and why should I invest? 🤔
For potential investors who've been watching from the sidelines and considering an investment: I've gone ahead and reduced the minimum investment amount from $250 to $100. The max raise target has slightly been increased so you can get your investment in before our close in less than 48 hours, but this will be the only exception I'll be making.
If we sell out before our close date, that will be it. There will be no additional opportunity to invest in this round. Don't regret not joining this opportunity as we build and become the eBay for digital goods, invest in Toffee today!
Toffee is a marketplace on which you can trade any digital product imaginable. You can think of us as the eBay for digital goods.
Our goal is to make it easy to trade digital goods online. Whether you'll be selling self-published eBooks as an indie author, or buying a PlayStation Network gift card for your kid's birthday: Toffee will become your marketplace of choice.
We've made leaps and bounds on every metric the past year, and with the fresh capital from this campaign, we'll be taking Toffee to the next level.
If you've been looking for an exciting project with ambitious goals and the possibility for an extremely lucrative exit, this is it. Our ever-growing list of 330+ investors ranges from professional investors to highly passionate backers who have already started using Toffee to trade digital products.
I'd be delighted to welcome you on our journey before this campaign comes to a close in the next few hours. Let's do this! 🚀