We’re back! When we closed our first crowdfunding round earlier this year two things happened. First, we raised a mighty $1,000,000 in new funds, but much more importantly, the love and support from our community for Vampr was unequivocally validated.
Today we’re reopening Vampr to the crowd in a smaller, follow-on round, with the intent of getting the company in shape for a Series A round in 2021. And we’ve got something really special planned to get us there:
But first, let’s rewind the clock for the uninitiated and recap our journey thus far 😊
Over three years we grew Vampr into the largest social-professional network for creatives in the world, as the go-to platform for the music industry to connect and collaborate in a creative and safe environment. Whether it be singers finding songwriters, graphic designers looking for work, or agents scouting for the next big thing, our multi-award winning app makes it happen.
The company was founded by myself, Josh Simons, and Baz Palmer. Between us we have forty years experience in the music industry, starting out playing small clubs, before moving to arenas and ultimately climbing the ladder through to stadiums, multiple awards and multi-platinum sales. I have worked with everyone from Travis Scott to Keith Urban. And Baz, well he’s a Hall of Famer, as the songwriter and lead guitarist for seminal Australian rock band Hunters & Collectors. The rest of our team have collectively spent decades working in music, tech and data science.
Last year when we opened the doors for our community to invest in Vampr we came to you with a vision: to open up our music network to creative people from all walks of life. Now, just eight months later we’ve realized that vision, creating substantial new value over that time. We have completely rebuilt Vampr from the ground up, we’ve tweaked our branding, and we launched a music rights representation and management division – Vampr Publishing. We have already amassed a catalogue of thousands of songs in record time. All this on the back of our increasingly valuable social network.
We also invested in people, doubling our team size, while equalizing the gender and diversity hiring gap. Most importantly, we grew our total user base to over 600,000 people, while growing group company revenues from $17,000 in 2019 to over $120,000 in the first half of 2020 alone. And this is prior to directly monetizing our user base with the just-launched subscription service, Vampr Pro. Since its very public September debut in Forbes, hundreds of paying customers have enthusiastically signed up, with thousands of dollars in monthly recurring revenue generated from the first month alone. We’re now busy optimizing the freemium user to paying customer process with a 3% target conversion rate by year’s end – this is where things start to get lucrative!
Then COVID-19 hit. The novel coronavirus has had a profound impact on every person on the planet. This disease has physically pulled us apart while changing our everyday lives for the foreseeable future. As a company whose primary purpose is to connect people, we wanted to do more in the face of these once-in-a-lifetime challenges.
So instead of cutting costs we moved more aggressively than ever. We fast-tracked the release of Vampr Pro, from the 9 months that we promised during our last crowdfunding round down to 7 months into market. We prioritised bringing tools to artists which could help them make money in a time where touring and live events are no longer viable income streams. Tools such as music distribution and film and tv sync representation. We have rolled-out these features progressively over the past several months, with plenty more to come, in a clearly defined roadmapwhich will see us continue to innovate throughout the remainder of the year. Promises made. Promises kept.
That’s where this next round of crowdfunding comes in, and where we’re asking you to dream big with us.
There has never been a better time or platform in history to take advantage of the possibilities presented by Live Streaming. To take our user’s live performances to the world 🌎
While Instagram and TikTok currently have much larger userbases, it is an unfocused and fragmented audience who isn’t necessarily there to give you and your music the time of day it deserves. This is why artists on Instagram reach only 0.5 – 2% of their followers whenever they go live.
Vampr Pro Jams changes this. Imagine jumping onto Vampr and broadcasting a live music performance in front of our entire community of creators. This focused audience can then check out your profile, head to your Spotify page, connect with you or purchase your merchandise and even pitch you for new creative opportunities and partnerships. The possibilities are endless.
The introduction of Pro Jams, in conjunction with our upcoming social feed, music distribution and Vampr Publishing will see Vampr become the only 360° self-service platform for artists in the world. The reliance on labels, touring and major budgets in order to make an impact have never been lower. Keep your Masters. Keep your Publishing. Keep it Social.
With these new features the app will become a far stickier social network – we anticipate retention will skyrocket with subscriptions to Vampr Pro increasing accordingly. In 12-18 months we expect the company to be generating 5 to 6 figure monthly recurring revenue, priming us for a Series A investment round – and that’s when the value of your Vampr securities would increase significantly.
Finally, to those of you who invested in our previous crowd round, we haven’t forgotten about the Vampr cap we owe you! COVID-19 has wreaked havoc on production and shipping prices. Rest assured, when transport returns to pre-pandemic levels we will ship out your caps. In the meantime to maintain good will we would love to offer you a free year’s subscription to Vampr Pro. Please get in touch with us at [email protected] to claim this perk. All other perks have now been delivered.
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