Wave has recently closed its second crowdfunding campaign at Crowdcube super successfully. It has reached its £ 500.000 campaign objective during the very first day. The end result for the 30 day crowdfunding campaign is amazing £ 845,980, backed up by 597 investors.
A big part of the success is probably due to the KPIs that Wave presented on its video. Numbers are the following: 80% retention rate and 800% growth in monetization. Those have surely caught the investors’ eyes. Another possible key to success is that Wave had signed previously a A series with prestigious investors. Also, the investors on Crowdcube had the opportunity to sign under the same conditions on the crowdfunding campaign .
Along with its great usage, at Wave we introduced for the first time revenue data from the placement of native and non intrusive ads. It is a new way of monetizing that has driven the app into the online business market.
Prior to this campaign we already did a crowdfunding campaign at CrowdCube in 2016. That time we also hit our goal gaining more than 700 thousand pounds. They were decisive to develop the product we have today.
This is not the only way of investment we have planned for this year. As we have just signed two Serie A with prestigious investors. Wave is ready to take the app to the next level, arriving to all smartphones in the world.
We are very proud of what we have achieved, making possible to fulfill the KPIs we set two years ago. Now we are able to keep the focus on our product. This has been a great challenge that has made us experts in filtering what we would like to have and what we need. And this is very important when launching a crowdfunding campaign. It is essential to craft a realistic pitch and to make every step of Wave possible.
Once we have set the goals, we have embraced the idea of launching a crowdfunding campaign again. We have looked for the support of small and medium investors. They can take part on Wave and share with us their points of view. This task has been an incredible experience to meet new technology driven investors.
WHAT HAPPEN AFTER LAUNCHING A CROWDFUNDING CAMPAIGN
The core of Wave is its top notch technology. This is why we want to be a trend setter when it comes to launching new features in the real time location sharing market. We will also continue listening to our users to get the best insights.
As the features are launched very rapidly the design and UX must be continuously adapted. Our design department, led by the Creative Director of Pinterest, makes sure that the latest trends are also followed in the look & feel of the app.
With the investment raised, Wave will continue improving the product and it aims to lead the real time location market. Wave is set to be the best app to navigate and meet friends. It works anytime there is a plan and to connect with them anywhere in the world.
Wave is a tool to connect people by sharing their location in real time with relatives of friends when needed. They can set a meeting point, chat and be able to arrive to the destiny fast and accurately, anywhere in the world.
However, we have realised that we can extend our technology in positioning and mapping to other companies that need this service. That is why we are implementing secondary B2B verticals. They are dedicated to adjust our native technology to the needs of third parties. This new activity is opening a bunch of new challenges that we are happy to face within the next quarter and beyond.
The team, as we always mention, has been the great talent that has pushed things forward. We believe that passion is the engine of success at work. We are hiring, so have a look at our opportunities.
This is the time to take Wave to the next level, reaching all smartphones in the world, perfectioning our technology.