Hello Wefunder Investors,

We’ve now concluded the sixth month since Oodles Corporation began our initial financing round with Wefunder, and importantly, the third month since the Wefunder financing was successfully completed and closed.  As in previous months, I wanted to provide you with an update on the many things happening with our Oodles - Deals & Events mobile app, and overall at the company.

New Vendor Partners Signed Up For The New Year

As students at both U of O - Eugene and CSU - Chico returned home for the holidays, the Oodles - Deals & Events Business Development team refocused its time during this off-season on recruiting new vendors.  The team has signed up new customers at both Universities, with Asian, Mexican & classic-American fare oriented restaurants, among others.  

The design team is currently developing these new deals, and will have them available on the app in the New Year by the time students return to each respective campus.  

Research with students on the types of restaurants they want on the app was the prime driver in targeting the right vendor-partners to pursue.  When contacted, many of these new customers have commented about the transactional & new customer growth they have heard about from current vendor-partners, as they signed with Oodles - Deals & Events.

Second Round Customer Flow Being Readied

The enhanced user flow & interface that was released in November has received favorable feedback from students at both Universities since it launched.  Engagement, in the form of increased creation & redemption of badges has been a direct result of these enhancements.  

The word “Scorcher”, i.e. the third tier of the three-tier business process of Oodles - Deals & Events, has attained general recognition and acceptance by students.  

When the management team travels to both Eugene & Chico, we hear students bring up “Scorcher Deals” as the core value of Oodles - Deals & Events app.  While this is good to hear, the product team has embarked on a second round of product flow updates to further enable gaining Scorcher status with all available deals as easy as possible for students.  

This second round of product enhancements will be released in the new year, and should further accelerate user engagement with the Oodles - Deals & Events app.  Vendor-partners introduced to this enhanced flow have commented positively so far.

As you know, this process is a patented protected one, and is what makes Oodles - Deals & Events truly unique and added-value to use.

Per User Acquisition Cost

In the three months since the initial Wefunder financing round closed, and in reviewing the growth & metrics we’ve experienced to-date, we continue tracking in-line with the quantitative expectations outlined in the original investment proposal.

In this month’s report, we wanted to focus on user acquisition cost, an important metric for the long-term growth and viability of the Oodles - Deals & Events app.  From April ’17 through end-November ’17, i.e. since the U of O - Eugene & CSU - Chico launches, monthly user acquisition is achieving desired targets, and we are on a realistic cadence to acquire 10,000 users by the end of the school year.

Actual per user acquisition cost, inclusive of start-up costs at both Eugene & Chico, is approximately $7.00 for the April - November period.  Importantly, this number decreases month-over-month at each school, as awareness of the app increases on campus, and sharing of deals becomes more pervasive.

Investment in product enhancements or other investments necessary for the company, are not included in this total.

In next month’s review, I will provide details on user engagement metrics and vendor transactions.

Please see the link to a short investor deck within the materials placed on https://wefunder.com/oodles, that should give you a detailed view of the metrics we planned to achieve as a company by the end of the school year.

This next statement is the same one I’ve made in the past, and will always remain sincerely true — while our journey is just beginning, Asheesh and I owe our sincere thanks to all of you who have helped us get to this point.

Sajal Sahay

Co-founder & CEO