News and Announcements
Vidstep achieves 3000% growth since launching 5 months ago
- Published May 06, 2021 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
- 5 months launched
- From end of month 1 to end of month 5, 3000% growth
- 23,000 Vidsteps instructions from instructor to instructee have been delivered
- They are servicing 136 countries
- Over 10,000 users
Back story: Vidstep went to market with the ambition of 100 users in a 3 month market test (they got 10,000 in 5 months). They were not ready to monetise and were offering a freemium until they saw the volume, so they quickly spun up a billable offering and received $35,000 in sales. Although not a massive number, it evidenced people love the product, are willing to pay and want more.
They were 1 of 6 out of 1200 applicants who have been accepted into the Activate+ program at River City Labs in Brisbane. Since then, they have also built out an advisory group including Curtis Thomson (Co-Founder of Simpro) and Shawn Davison (CEO of DeviQ in Denver).
They are currently working through an integration with Simpro, quickly moving into the enterprise space (1000+ team sizes and national store chains) and securing their first major clients.
They have a Growth Round open for capital raise of $750K, with a notable local VC leading the round and a number of groups in talks with them.
They are still open to investment offers, but they are very selective with who they speak with and are very much seeking value based investors to actively support growth.
About Vidstep Pty Ltd
Vidstep is a next generation video technology, designed to complement and integrate with many leading software products.
It has wide appeal for business owners and managers challenged with providing clear instructions for virtual distribution and remote teams.
The product is simple, has a relatively low barrier to entry and a somewhat smooth path to market.
It is a highly lucrative opportunity, with a three-tiered approach to revenue from SaaS, in-app product resale and content subscription.
The founder has crafted the opportunity to be low key, drama free and predictably rewarding, rather than promising to be the next Google. Early investors will see large gains in their participation with this product.
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