Everything Ferris Spetty said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Spetty: Successful equity crowdfunding requires leveraging an existing loyal audience
“So the key is to figure out where is your loyal audience? Like who knows who you are already, because that's what you have control over. So if you have an email list or people know who you, the entrepreneur, if you're a category expert or something, right, tha…”
Spetty: MySwimPro retains only 30% to 40% of annual subscribers
“I mean, if we're lucky if we're keeping at this point for yearly subscribers, like 30, 40% over a year.”
Spetty: 90% of world's pools shut down in 2020
“So there was that one point here in 2020 where 90% of the world's pools were shut down completely.”
MySwimPro reached roughly 500k downloads by 2018
“2018, at that point we were probably around half a million.”
Apple named MySwimPro App of the Year in 2016
“We were app of the year by Apple... We were app of the year in 2016.”
Pandemic closures cut MySwimPro daily app downloads from 1,200 to 300
“2018, 2019, we've gotten up to about, you know, 800 to 1200 downloads per day. And the unfortunate thing about the pandemic of 2020, you know, with pool access being shut down for 30 to 50%, we've actually been cut back pretty significantly. You know, now, tod…”
MySwimPro counts 7,000 to 8,000 active paying subscribers
“Yeah, we have about between seven, 8000 paying across both of those.”
MySwimPro generated $1.1M in revenue in 2019
“We are 1.1 million.”
MySwimPro has raised approximately $1 million in total lifetime funding
“We've raised about a million dollars in the life of the business.”
MySwimPro raised $600,000 from 300 investors via Wefunder equity crowdfunding
“We did two rounds of equity crowdfunding, which is actually probably the most, a lot of people ask me about that. We raised online via WeFunder. So we have 300 investors across 36 different countries through those two campaigns that we did, which totaled about…”
Spetty: MySwimPro pivoted to offer at-home dryland workouts
“So we actually pivoted the business and in the app we actually have at home training programs To do without a pool.”
MySwimPro charges $180 annually or $30 monthly for full app access
“Today it's a 180 for a full package for the year or 30 dollars a month.”
Spetty expects sponsorships to drive 20% to 30% of 2021 revenue
“Next year, I could see 20 to 30% of our revenue being spot, that new revenue.”
MySwimPro reports 500,000 email subscribers and 500,000 social followers
“So we have an email that's about half a million social media audience of also about half a million. And then we have the in-app placements. Our YouTube channel alone is about 50 something thousand subscribers going, growing three to 5000 subscribers per month.”
MySwimPro employs 10 full-time and two part-time staff across five countries
“We have 10 full-time and two part-time distributed across five countries.”
Spetty: Initial paid ad testing yielded a $100 to $150 CAC
“We've seen just from initial testing a CAC around a hundred, a 150.”
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