CrewPay Whatupdate No. 44
Hello, crew.
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Team Accomplishments & News
- No updates
Product Accomplishments & News
- Product update from Matt: Slides
Sales, Marketing & Customer Success Accomplishments & News
- Outreach to AirBnB hosts and sports orgs
- Designs for Bookkeeper page
Revenue & New Client
- 2 transactions last week (168YTD)
- $3,225 sent last week ( $295K YTD)
- 2 new companies, 6 new contractors
- 8 active companies (15 total)
- 34 active contractors (128 total)
- Totals:
- WoW Contractor Growth: +5%
- MRR: $161
- ARR: $1932
- MRPC: $23
Closing Thoughts
We’re living in unprecedented times. Thank you to everyone for working on CrewPay in addition to all their other responsibilities, none of which is more important than the wellbeing of yourself and your family.
It’s a time like this, however, that reminds us of the value CrewPay brings to businesses and contractors. It provides a way to pay people (when they have to be apart) and a way to get paid by one or more employers.
For these reasons, we’re resolute in exploring the following two paths.
1. Homerun
We’ll continue the process of building a “roadshow package” with Damian. We will work to raise a significant round of funding that provides us with enough runway to validate and scale CrewPay as the best independent contractor platform.
2. Seek acquisition
In parallel, we’ll engage Basis State to build a prospectus for CrewPay and court potential buyers for the existing technology. Companies who have parts or all of what CrewPay does on the roadmap often acquire software instead of building it themselves.
You may be thinking, why two paths?
The timing of the market is unknown and unpredictable right now. One of these outcomes may prove to be a better option for the future of CrewPay and its shareholders.
We don’t know (yet) what we don’t know. And since we can, we’ll pursue both. One thing is certain, we’re going to learn a ton in the process that will help us in the future.
Have a great week.
Ever,
David