.png){kind=small}
Hello everyone!
As we enter Q2 2023, I wanted to take a moment to update you all on the recent changes at Gradi.
Despite the continuous growth of the tech industry, there are concerns about its profitability over the next year. Therefore, it has been vital for us to prioritize the economics of the business.
To achieve this, we have taken the necessary step to cut our expenses as low as possible. While this may seem like a difficult decision, it is a strategic move that will allow Gradi to survive and work toward profitability and future fundraising.
I am pleased to report that despite these changes, the Gradi MVP continues to operate normally with over 1,000+ daily users. However, we have temporarily halted development progress until we can find a Chief Technical Officer (CTO) who is willing to work for equity.
We understand that our investors may have concerns about these changes, but we want to assure you that we are making these decisions with our long-term goals in mind. Our team is working tirelessly to build a sustainable business that will thrive in the future.
Q1 2023 Progress:
Capital Raised: $12,500 (Total: $481,250)
Pending Candidate for CTO
All-Time Menu Users: 540,000+ (25%+ Growth)
Vote Passed for Extending the Convertible Note Maturity Date to January 30th, 2024
Q2 2023 Goal:
By finding a CTO who shares our vision and passion for the technical aspects of the business, we aim to maintain our development progress at a high level while keeping our monthly expenses under control. The upcoming update for the Gradi Consumer App (Version 1.5) will allow users from any location in the US to upload pictures of their menu items for a chance to get paid.
Here's how it works: once a photo is approved, we attach a small, non-intrusive ad to the bottom of the menu item details. When the photo reaches a minimum number of views and likes, the user can activate monetization, making Gradi users the main source of marketing for the menu item search engine. This innovative approach will help fuel all aspects of the Gradi platform and create new opportunities for our users to earn money.
Goals for 2023:
Find a CTO (Pending Candidate)
Focus Social Media efforts towards the Gradi Consumer App
Launch Gradi 1.5 (Profiles + Paying Content Creators)
Raise our Series-Seed Round (this will convert your convertible note into equity!)
Update the Consumer app to have profiles, filters, maps, AI, etc!
Increase Streams of Revenue
Increase Revenue Per Stream
Grow our partnerships & strategic relationships
Grow Gradi Consumer App Users
Expand our Sales & Engineering Team
Launch the Gradi App on the Android Google Play Store
Attached below is our latest series-seed pitch deck!
Please reach out to me with questions or feedback regarding updates, the pitch deck, or plans for the next few quarters.
Thank you for your continued support and investment in Gradi! We will keep you updated as we move forward and reach our milestones.
Sincerely,
Zachary Dowthitt
Chief Executive Officer
Comments