HNY everyone! It’s been nonstop over here - in a good way. December was good, January will be better.
Fundraising Update: We’ll be opening up an ~$1M round on Feb 18. We see a clear path to profitability in NYC and are excited for expansion in the second half of 2025.
December Summary:
Despite holiday travel, we had another record month in December. MRR grew by 16% M/M and we did over $35K in revenue. Average monthly spend per member on the app was $78 (up nearly 3x from a year ago).
Key Stats - 4th Month of Memberships
Number of Member Game Joins*: 680 (+41% M/M)
Ratio of member to non-member game joins: 62% members, 38% non members (slightly up from last month)
Conquer will be a membership only platform once we launch memberships on Android (targeting Feb 1).
Number of Members: 163 (+10% M/M)
Total Revenue: $35K (+16% M/M)
Includes app transactions, memberships, and rentals
Lowlights:
Customer support proving more demanding than expected
Slow last week of the month due to holiday travel. User activity has picked up significantly this month
Highlights:
Made several internal process tweaks to boost efficiency company-wide
New website launch (thank you to Eva for designing it)
Record revenue
Higher than expected average spend per customer
Working directly with venues to fill unrented courts is proving successful. We brought Sportime Randall’s Island more than $3K in revenue in December
Raised membership prices
What Does January Look Like:
Continue to test and modify paid marketing efforts to increase the speed of user acquisition
“NYC Pickleball” was searched over 5K times in December
Work with creators to increase user acquisition and fuel our content engine
Speed up non-member to member conversion through email, SMS, and host referral codes
Aggressively add new venues in the NYC area
Work hard to improve activation (getting new users to join games)
Best,
Louis Long
Co-Founder/CEO at Conquer
201-421-6905