Becoming a dominant player + 2020 projections, as the Republic campaign nears successful close.
As our campaign is coming to a very successful close, we couldn’t be happier about what we’ve achieved in parallel, and the unique position we’re in, going into the new year. We’ve set ourselves up to scale key components of the business at levels that rival today’s market leaders including Pinterest and Houzz. I’d like to focus on the areas of focus where we expect to see the most significant growth throughout 2020:
PRO USERS & PHOTOS - Design and design-related professionals are at the heart of what we’re doing in multiple ways. They represent the largest segment of the market, accounting for over $100 billion/year in product spend. And, in our view, equally importantly, they are the source of the professionally photographed interiors projects which will be the basis for our Visual Discovery & Shopping platform. We expect to onboard more than 65,000 curated Design Professionals in 2020, putting us on par with Houzz (valued at $4+ billion) in terms of the size of our image library.
IMAGE DATA - In our estimation, more important than the quantity of images we’re projecting, is the actual quality of these images and the data accuracy of their contents. This is the single greatest differentiator between WeLivv, and today’s leading comparable platforms including Houzz, Pinterest, and even more broadly Google Images and Instagram. The curated, proprietary approach we’re taking to building our platform - which is in direct contrast to the broad, open approaches used by the aforementioned platforms - uniquely positions us to identify and tag products at the SKU-level, which will enable a more cohesive end-to-end user experience starting with Visual Discovery & Search, all the way through to allowing users to complete the on-platform purchase of exactly what they see. Again, while achieving scale comparable to today’s leading platform is very significant, we believe the difference in image and data quality, will prove to be the big winner for WeLivv and its stakeholders.
MARKETPLACE - Our revenue model is based entirely on the on-platform purchase of products which will be inventoried and fulfilled by their respective manufacturers and/or sellers. We have developed a merchandising strategy and related resources, to target the expansion of our existing marketplace by 500% to 200k+ total products by the end of 2020.
END USERS - While our focus thus far has been on Pro Users, we have been working on broader marketing and user acquisition strategies which we will be rolling out early in the new year. As mentioned last week, this will include a) Network Effects strategies driven by the expansion of our featured design professionals and their respective audiences, the growth of our image library and the broad styles and preferences they will serve, as well as the expansion of our marketplace and the associated brands; b) Content which will largely be driven by the amazing projects being published to WeLivv on a daily basis, as well as the products being offered through our marketplace; and c) a proprietary direct user acquisition model which we expect will enable us to drive end users to the platform at a ratio of 2:1 over professional users, by the end of 2020.
REVENUE - We are targeting gross revenue of $2 million per month, by December 2020 which would be a 1400% increase over our peak gross monthly revenue in 2019.
We are very excited about the progress we’ve made, enabling us to go into the new year with such a massive opportunity, and great clarity in the path to watching it come to fruition. As I write this email, I also want to acknowledge the immense appreciation I have for everyone - our amazing team, each and every one of our investors, and our many partners - who has helped make this possible. I am truly grateful for each and every one of you and I feel a deep sense of obligation to deliver on the vision I’ve laid out. I’m lucky to have this opportunity.
Thank you to each of you.
Andrew Christodoulides, Co-Founder & CEO