June was a hot one for the world, the country, and our company, playhaus.* Hopefully the former doesn’t burn down, just as the latter is catching fire.
We’ve had a busy month and it’s given us plenty of exciting updates to share. But I know you’re all as busy as we are, so here’s the TL;DR.
We’ve just inked two new deals.
We project they will increase our MRR by ~60%.
Things are tight until those invoices hit, and growbot development is paused as a result, but we’ve got our eyes set on greener pastures in September and beyond.
– Connor
*if you need a refresher, we’ve been on a mission to build a smart wallet for digital identity since October 2020, because, especially in the age of AI, we believe people should have full ownership over their data & digital breadcrumb trail.
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June was a big month for playhaus.
We attended the Collision Conference in Toronto, where we landed several big intros, to a web3 partner, several agency client leads, and the investment arm of Toronto’s largest marketing agency to demo growbot.
We also had the opportunity to present playhaus to seven different funds that continued conversations with us after our pitch day with Plug-n-Play, and all have ties to the University of Michigan, where Connor studied for undergrad.
We are excited at the progress we are making toward closing our round before October. But not all that progress is intangible. We signed two new contracts this month, bringing us an incremental $5.5k to our existing $8.5k MRR, and allowing us to afford the expanded team we’ve hired to grow alongside our new client demands, as well as our new partnership with Snowflake, the data pipeline vendor, and their startup program.
As you can see from our financials, it’s crunch time. We believe we’ll be wading water like this until September, when we may finally start breaking ahead.
While we didn’t get any formal proposals out this month, we do have a verbal confirmation with another prospective client that would be our largest yet. We have some very promising conversations on going with a few other client prospects as well.
Our deals seem to lag proposals by 1-2 months, and as you can see there are dry spells. Or in our eyes, periods where your sales partners don’t agree to the initiatives you set out, and eventually you have to pivot strategies and partners, or you’ll just keep losing money.
The pivot has led to a significant increase in the volume and quality of our meetings, as well as the confidence we have in the proposals we are sending out to close as deals.
Looking ahead, we’re continuing with our growth strategy, of cold outreach, and in person activations. In other words, we’re investing in the people that are driving our deals today and the team members who are helping us to deliver on it, buying ourselves time until the growbot software is ready to roll out with our Agency’s growing client base.
Stay tuned next month to hear how onboarding has gone, and check in on our revenue growth!
TOKEN | PRICE CHANGE | PRICE |
|---|---|---|
Solana ($SOL) | -6.89% | $138.56 |
Helium ($HNT) | -9.17% | $3.07 |
Pyth ($PYTH) | -39.58% | $0.29 |
Solend ($SLND) | +2.17% | $0.47 |
(Price changes reflect 1 Month as of 7.11.24)
**NFA** Our exit horizons are between October 2024 and January 2025, and December 2025. Never pull your entire bag.
All we see are great purchase opportunities during a consolidation period, if you’ve got liquidity on the wings. You’ll be kicking yourself to miss the wave.
Twitter is now Connor’s eX. They eXcommunicated him from the platform for promoting $paypr. Funny how the go-to platform for crypto scammers is the same one banning legitimate web3 projects with real utility, but hey. Bullish for playhaus.
Follow us on LinkedIn for future updates.
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