Crowd Sourced Photography
Mobile Software & Services
Happy Snap consists of four versions: Free w/ Ads on Android OS and Apple iOS, and Paid Ad-Free on Android OS and Apple iOS. To date, there have been over 2,000 downloads with active users, and over 1,000 Likes and Follows on Facebook, with fans on other social networks as well.
The Beta version of the product has been producing revenue since the first month, both from ad revenue (AdColony) and from the app stores via paid downloads. Currently, the paid version is $0.99 in both app stores.
At this time, the monthly cost for overhead, including AWS cloud services, hosting fees, usage/storage fees, etc, are $240. The total revenue from ads to date is $20 and the total revenue from paid downloads to date is $168. See the [Financial Summary] below for more details.
Users have been very excited about the app, and it has been positively received by people coast to coast and around the globe. Extensive testing of the pre-MVP app in real-world scenarios at public events and promotions has validated the company’s understanding of the MVP requirements still needed in order to have a successful product. This testing has also confirmed which features need enhancement, and which specific functionalities will improve the performance of the app, and generally help achieve better user adoption and referral. The further development of these features and functionalities would put Happy Snap at a significant advantage over the competition. This includes a fully-functional website that mimics all features and functions of the app for broader user adoption and increased customer acquisition.
The company is approaching investors a second time to raise funds to complete the required features for the MVP, including a fully-functional and feature-rich website, and raise enough capital for an extensive marketing, advertising and promotions campaign with ongoing support and maintenance for up to six months. It is believed that due to the nature of this app (social, photo sharing, events industry, requirement for many downloads per event for guests to participate, and the fact that each event album is a closed, private, niche social network) that it would be extremely well positioned for a large tech or competitor to acquire in less than three years.