The Ledger
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Meyer notes high customer attrition is universal across laundry marketplaces
“There's a natural attrition rate. And this is a universal with actually all of our competitors.”
Londr acquired its user base with almost zero marketing spend
“And what's brilliant, Nathan, is we've had almost zero marketing spend.”
Londr has 5,000 washers but only 2,000 customer signups
“We've had over 2000 customers sign up over the country, and we have close to 5000 washers.”
Londr currently generates approximately $5,000 in monthly revenue
“And currently our revenue is, is only about 5000 dollars a month.”
Londr generated about $100,000 in revenue over the past year
“But so we had about a 100,000 dollars of revenue just this year.”
Meyer expects to retain 20% equity in Londr after financing
“I'm going to end up after several rounds at about 20%.”
Local TV news coverage was Londr's most effective marketing channel
“Actually, the most effective marketing we did was having a local news station talk about us. And we had the highest hits from that.”
Londr revenue peaked at $12,000 per month in early 2022
“And they were at about at this time a year ago, they had finally ramped up to around 12,000 dollars a month over a four month period from about five to seven, nine.”