September 2017 - CONFIDENTIAL Update
September is always a time of 'rebirth' and for StayBillety it will be a 'reboot' month.
August was disappointing for the company - we didn't see the growth or revenue we projected despite some aggressive social media marketing at the start of the month. We're revisiting/rebooting our marketing and growth strategies for the Fall. We'll be shifting our emphasis from acquiring new affiliates (though plan to close those active in the sales pipeline) to ensuring our existing affiliates are fulfilling their agreements.
Our participation in Communitech's Fierce Founders Bootcamp helped to polish both pitching and projections. Over 80 companies applied for the program, 20 made the cut and 9 were selected for the final pitch competition for $100K in funding. I was a finalist, which was GREAT exposure, but two incredible companies/founders took home the prize money.
Syracuse University is working closely with us - both alumni & athletics - and we expect to see an increase in registrations/listings related to SU as we ramp up the relationship and related marketing. A number of initiatives are planned for September/October.
In August we launched:
National Sports Organization (NSO) - Surf Canada
Major international sailing event - Orange Bowl International Youth Regatta [Coral Reef Yacht Club, Miami]
and Epic Multisports (Halifax/Dartmouth, NS) is planned for launch mid September.
Several winter NSOs are far along the sales pipeline. I expect to close those agreements by mid-month and will share that news in our October newsletter.
We are 'on hold' on beefing up the team until funding is in place. Now that the school year is underway, our student teams will assist with social media/viral marketing.
User Registrations - Month over month % increase in registered Users (last 3 months only):
June - July >> 8%
July - August >> 6%
August - September >> 2%
Average Month over Month increase this fiscal (from Mar. 1): 5.2%
Active Listings - (Hosts may deactivate if they aren't currently offering their space)
June - July >> 7%
July - August >> 3%
August - September >> -2% (seeing our first summer churn)
Average Month over Month increase this fiscal (from Mar. 1): 4.3%
With no investment agreements completed - as planned - during August, the pressure is on to close the Seed round this month. This MUST be a turnaround month. We are very focused on making that happen, including our application to the Capital Angels Network (due today) and continued work to secure Seed financing.
Meanwhile, working with our accountants, our 'valuation'/CAP Table has increased based on the number of affiliate agreements completed/launched and pending.
1. Capital Angels Network (Ottawa) - [applying today!]
2. Communitech's Fierce Founders Accelerator (Waterloo) [awaiting decision - second interview this week]
3. Chloe Capital Women Investor Accelerator (NY) - [awaiting decision]
4. EyeforTravel’s Start-Up Travel Awards - [applied - awaiting decision]
5. TechStars (Toronto+) - [now applying in October]
6. LA Dodgers Accelerator [still awaiting decision] - have heard they are shifting focus]
7. Golden Seeds Angel Fund (NYC) - [on hold]
WHERE YOU CAN, AS ALWAYS, HELP...
1. Register! Become a Guest if traveling; list your space as a Host
3. Leads/introductions for seed &/or angel investors/financing/funding sources are always welcome.
4. Spread the word to your friends, family, colleagues… encourage them to be HOSTS (check out our current 'requests'). We'll here to help set them up on the site, should they have any concerns.
Please let me know if you have any questions or if any of this message requires additional clarification.
Thanks for your continued support.
Shared Interests. Shared Roof.
Launched in March 2016 and based in Cambridge, Ontario (Waterloo Region), StayBillety is an international affordable, online accommodation service connecting like-minded guests and hosts. Celebrating community with its unique affinity-based affiliate model, StayBillety is also a social enterprise whose business supports charitable organizations. With StayBillety, guests traveling for concerts, commencements or competitions connect with enterprising hosts who share their common interests. Click here for press kit and media page. Visit StayBillety’s Facebook and follow @StayBillety #ComeOnIn