I've recently launched a new stock charting app on the Play Store. I have bootstrapped it with my friend/co-founder from the start but monthly expenses have creeped up pretty high with server fees, API fees, freelance developer cost, etc. We have a bit of user traction and been actively seeking funding but we keep hitting the same roadblock. No revenue, yet. We have plans in the coming few months to implement a subscription service. Just not quite there yet. Do you know any great resources or contacts for getting pre-revenue funding? Or any tips? (PS - Seattle contacts would be a plus for in person exchange with an investor of company)
Nobody expects revenue, but you have to have a strong business model. If you donāt have your app on iPhone youāve already failed. Share the link please.
Whatās the monthly cost, MAUs, retention rate, user acquisition costs etc. Where are you using the money? if you donāt know or able to provide some of this, you are not ready for funding yet. Also, just want an investor to fund monthly bills is a red flag to an investor.
what is MAU ?
Monthly active users. DAU is same except daily
Maybe you're not aware of how many people have done exactly what you've done. Nothing you wrote screams exceptional. I wouldn't invest. You need something to differentiate and show success, for example "our app has week over week growth averaging 1000% for the past 6 weeks." Now you would have my attention.
You do not need to be super exceptional to get a user base. You need to be have a good working model.
No one is going to pay for a stock charting app on Android. Stock charting is offered by everyone for free and Android users are frugal. That is why you canāt find funding.
You have not even listed value proposition of your app. Until then it's just another app. If you can't explain it to this community, you need to work on your USP. Try buying traffic and get some user base going.
Name of the app?
If you want to cut down on freelance developer cost, dm me
Since when is no revenue a blocker for funding? Something doesn't add up. What are vcs telling you?
It's a mix of lack of revenue and currently a small user base. It may be a bit premature to seek funding maybe but things are just getting pricey having to self fund everything. Need an investor that sees the same vision and potential that I do maybe