High Level Summary:
- In February we increased our home volume by 37% (we did 140 homes), generated 46% more revenue (we made $11,400), and increased our market share to 4.5% (in January we had 3.2%). We’re beginning to focus on our User Experience and we’re launching our properly designed website within the next few days. We’ve also hired & trained our San Francisco team and we launch in the city on March 6th. Know realtors in the San Francisco Bay Area? Introduce us! We’ll hook them up with our free trial which should save them over $700!
Finance: Our Free Trial Strategy Is Continuing To Show Success
- Because real estate is seasonal these are actually supposed to be the worst months in terms of homes on the market (because who moves during the holidays?!) but it looks like our free trail strategies are working like a charm!
If you are a current investor, you can access our accounting & financial model here.
Market: Market Share Continues To Grow In Denver
- Market share is going up – this month we scanned 140+ homes.
Now we’re starting to have realtors asking if they can start accessing our database of VR homes. The amount of market share needed to make VR used in brokerages may be closer than we think!
- Almost Finished Building Our Ultimate Real Estate Virtual Reality Demo
Jeremy & David on our engineering team have been plugging away at building the highest quality VR demo with full functionality to show our vision for VR in the industry. In our latest demo which should be finished at the end of March, you’ll be able to walk around inside & outside a home, stage/move furniture from a catalog (like IKEA’s), and also add/remove walls as well as change wall colors & flooring.
It’s literally mind blowing.
Realtors will no longer be saying: “I know the house looks like X, but just imagine if the walls were Y color, and…”
- Website & Branding Are Getting A Major Facelift
We’re implementing a new design which should help with conversion & help convince our customers we’re delivering a higher quality product. The new site will be launching at the end of this week. Here are the two sites side by side:
I can’t believe we made over $60k and grew our business this much with such a simple slapped together site. Appearance & brand definitely matter but this just shows how you can be scrappy at the beginning and still build a business.
- Working With Interior Environments To Showcase Commercial Furniture In VR
We worked with Interior Environments, a furniture distributer for AllSteel, to showcase what their clients potential furniture layout could look like in their new office using VR. This is all in an effort to explore commercial real estate as another or better avenue to break into.
Walkthrough Now Has 10 Full Time Team Members
- In January we we’re a team of 4. Two months later and we’re already at 10. Here is a photo of our portion of our team at our company happy hour that makes all the magic happen.
A few notes in case you forgot:
- You are receiving this email because you are a mentor, investor, or close friend of the team. The intention of this email is to get help growing our business, keep you updated on our highs and lows, or simply give us a simple & easy way for us to stay in touch.
- Walkthrough replaces the time-consuming process of touring multiple properties with a simple and affordable virtual reality experience. (view investor slide deck here)
PS – Here are the last several updates if you’d like to take a look: