April 2024
Hey fam,
This is the slightly redacted build-in-public version of my monthly investment update for Play Money. Feel free to share.
MONTHLY METRICS
9 weeks in and we are no longer in hair-on-fire mode with deal flow — thanks to Tina. Next up: “test and learn” on engagement.
Registered members: (+27%)
Unique investors: (+50)
Total Investments: (+55%)
Dollars Invested: (+50%)
Some fun engagement metrics:
68% engaging => 44% of those drilled into a deal => 20% of those invested.
27% of investors have backed more than one deal.
20% of folks who had never written an angel check, wrote their first with us.
And we finally did a short demo video (or you can sign up and see it for real)
WHAT HAPPENED IN APRIL
Product: The new dashboard is tight and upgraded video quality overdue. The biggest push was behind MVP features to support communities and syndicates.
Go-to-Market: We had three inbound leads from communities looking to onboard their members to angel. All are helping us learn, and our goal is to have at least two live on the platform in June.
Fundraising: We brought a dozen angels on to our captable in April (always happy to welcome more 😉). And now we’ve officially kicked off the back-half of our pre-seed raise. I want it wrapped up before summer. Our story has progressed a ton. Ping me if you want to look.
Content: We knew member onboarding (or lack thereof) was a gap. Conversations with a dozen early customers confirmed the upside potential of getting it right. They all talked about the friends they wanted to bring onto the platform. The content is now created - and it cooks! We’ll focus on deploying it everywhere in May.
WHAT’S HAPPENING IN MAY
Close out the back half of our pre-seed fundraise.
Finish investing functionality for LLCs, Trusts, and Non-US folks
Launch drip engagement campaigns to new investors on the platform.
Get two communities ready to launch pilots in June. <= stretch goal.
HELP
I am looking for some part time social media help - 10 hours a week. Mostly LinkedIn and some light video. Has to be interested in Angel and have a little bit of an edge. Know anyone?
— C2K
💎 Cheryl, Jill, and the Team
