How do you???

Jaskiran Kaur
6 replies
How do you raise funds for your mobile app startup?

Replies

Jake Gutstein
Founder @Zest + Passionate Home Cook
Hey Jaskiran This depends heavily on stage and product but a few rules of thumb, assuming you're starting out. You need to prove that a specified number of monthly active users (whatever your primary KPI is) understand, want, and will continue to use your app. A few KPIs on each: - Understand (unique value proposition or UVP): Met if >50% of individuals state the same UVP in a sentence as your internal team - Want (net promoter score or product-market fit): Met if over 40% of active users would be extremely disappointed if they lost access to your product (as opposed to somewhat or not disappointed at all [see Sean Ellis' 40% rule]) - Continued use (retention): Met if we retain 85% of active users month over month If you hit these for a predetermined number of paying MAUs (say 200 for ex) then optionality will come and institutional funding will come to you.
Share
Jaskiran Kaur
I am fond of Science,Technology,Art,etc
@jake_gutstein Thank you Jake
Alina Ihnatiuk
Social Media Marketing πŸ‡ΊπŸ‡¦ - πŸ‡΅πŸ‡± - πŸ‡·πŸ‡Ί - πŸ‡ΊπŸ‡Έ
Hi. Personal budget or the budget of the entire team.
Share
Jaskiran Kaur
I am fond of Science,Technology,Art,etc
@antonovna Budget for the entire team
Ira GI
Technology girl, software development
We have investors' funds for all organizational work, as well as personal investments.
Share
Jaskiran Kaur
I am fond of Science,Technology,Art,etc
@ira_gi That is awesome Ira.