Walter Robertson

San Jose, CA (USA)
Role(s):
Active Funding Request

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Yoyotext

Find More Startups Startup
Location: San Jose
Industry: Technology/Web
Year Founded: 2012
Number Employees: 1-10 people
Business Stage: Growth (not profitable)
Entity Type: "S" Corporation
Description: Yoyotext is a Hybrid Marketing company that has merged the concepts of Text Marketing or Mobile Marketing with those of the Daily Deals sites. By bringing the two together we have more powerful platform than those of any Daily Deal site and Text Marketing Companies. We have put together a strategy for Text Marketing to become viral by introducing what has already been proven through the Daily Deals sites. These are the reasons why we feel that we are a good investment: 1) Just launched our revenue generating model a few months ago on a shoestring budget with one rep and have signed up 70 paying businesses to date with only half of the product being released. Some of the businesses have already renewed, signing 6 month and 1 year contracts. We have just hired 3 other reps and are consistently closing 3 sales per day. Keep in mind the learning curve here. Only a week and a half into learning the product and selling. 2) Our consumer network has grown in the course of 5 weeks from some 4000 to over 10,000 opt in VIP consumers and this is without promoting to the consumer sector. 3) We have developed the Most User Friendly back office / dashboard in our industry of text marketing along with mobile redemption apps and mobile consumer apps that work with Android and IOS platforms. 4) We have a roll out strategy to the consumers which will allow our network to go viral. We are intentionally holding back on this half of our product with the anticipation that we would grow too fast without having the necessary support to handle our anticipated growth. As far as our technology is concerned - Our platform can handle the traffic. It is the necessary manpower that we would need to hire in order to handle the new growth anticipated. This is where you come in as an investor. 5) We are a subscription based business which means that we will not need a sales force to continually resell the merchants on using our product. From our experience, we see that if a merchant builds a VIP network of 100 consumers, it is very difficult for them to quit using us. They will continue to use our product knowing that they will get a 20% - 40% response rate every time they send out a promo. Yoyotext is a startup business located in San Jose, CA. We are in search of $500k - $1M in startup business funding so that we can grow our new Technology/Web business. Right now, Yoyotext currently has average monthly sales in the amount of $2,500 to $5,000. Here are some additional details relating to the type and use of funds that we are looking for. Yoyotext currently plans to use any raised funds primarily for the following purposes: -Operating/Growth Capital (Payroll, Sales & Marketing, etc) Up to this point we have been self funded by Two Primary Investors / Founders at a rate of 20K to 30K per month with some seed investors putting some 80K into the business. Despite the fact that we have been working with a limited budget, our results are decent having reached our first three month projections. Now that our model is proven, we feel that all we need is a capital injection to increase sales and to release our consumer outreach strategy causing out network to grow. Before we launch the consumer product, we must hire admins, client relations reps along with additional sales reps. Some of the capital will be used for PR and campaigns such as email, signs etc. to grow consumer awareness of the deals we will be offering to the public, under a different name than Yoyo Text. It would be similar to Yoyo Deals which caters more to the consumer rather than the merchant who are our customers. Since Yoyo Text is way past the concept stage, we are interested in receiving capital from these types of funding sources: -Equity Funding (Angel, Private Equity, etc) Please check out our merchant website to see what it is that we are selling right now. Please keep in mind that this is only half of the product. Best Regards Walter Robertson