SimpleShowing Launches New Crowdfunding Campaign on Republic 🚀
Hello to all of our 4,000 wonderful investors from first campaign! Here are a few exciting updates from the team at SimpleShowing:
1) Financial Highlights for 2020
2020 was a fast-moving year for us at SimpleShowing. We had our two of best months in the history of the company (August and September) - booking over $100,000 in revenue each month. During the prior two months, we set records for net new booked showings and also # of home closings. We finished the year with just under $1M in gross revenue and $800K in net revenue (gross bookings minus commission refunds).
2) Patented Self-Tour Technology
In 2020, our team placed a big bet on building next generation "Self-Tour" technology. We're happy to announce that our technology is patent pending as of November 2020. The race is now underway to build the next great end-to-end real estate app that allows consumers to book tours on demand and in many cases, tour homes independently (without a real estate agent). In addition to Self-Tour, here are some other features of our next-gen app:
- Buyer directed home showings without any required assistance from an agent
- In-app financing (mortgage approval)
- In-app offer submission
3) "Toura" Product Launch
In October 2020 we launched the beta version of "Toura", a private-labeled version of SimpleShowing that allows agents across the country to leverage online booking of home showings for their own listings, irrespective of the brokerage. You can check out Toura by visiting tourahome.com
Toura is a separate product offering that's designed to compliment SimpleShowing and build upon our current lockbox and showing technology. We also expect to offer Toura as a SaaS product for MLS (multiple listing services). This will represent our first B2B, subscription-style product offering launched by the SimpleShowing dev team.
4) Expansion into Texas
We expect the state of Texas to represent a big opportunity for future growth as we move into 2021. For now, we will focus on the Dallas/Ft Worth area, but are eager to expand into other Texas markets soon - such as Austin, Houston and San Antonio.
5) New Partnership with Expetitle
In January 2021, we signed a Joint Venture with Expetitle, a fast-growing e-closing startup. Not only will this lead to future monetization opportunities but also will help us deliver a more seamless digital closing experience to our customers.
6) New Republic Campaign Launches Today!
We currently have $400,000 in the bank and are maintaining a low cash burn rate. Philosophically, we've always felt that the most responsible way to build a company is conservatively and sustainably. We are now a 3.5 year old business and in order to grow our team to the next level, we've decided to take advantage of the momentum in the real estate tech space and raise a 2nd round through Republic - starting today! We could not be more excited and hope you'll support us along the way.
We are very optimistic about 2021 and are very humbled to have each of you as an investor, supporter and cheerleader for us. Head over to our new campaign page as we launch TODAY! republic.co/simpleshowing
Thank you & much love!
Fred McGill, Co-Founder