Dear SportID investors,
Here is our report from December 2017.
The most impressive number from last month is the growth of our userbase. This shows a lot of companies getting ready for the new year. The growth in sold services and MRR will follow this month. We already see that and January has started as most probably the craziest month for us ever. And the growth in our userbase has continued and we believe that it will be even more than 12% this month.
Generally the year 2017 with just 51% growth of our average measured KPI might not be considered as a huge success for a startup company. We were alive and growing, just the numbers were bit lower than expected. There were several reasons for the reasons why numbers weren’t as positive as we might have expected a year ago. Most important of those were the facts that the necessary software development took more time than we planned. We changed the whole setup of our development procedures due to that after last summer. But not being ready with our software developments meant that we weren’t ready to go outside Estonia yet. We just put a new version of our software live before Christmas 2017, so now this barrier has gone for us for good.
Also a lot of customers in Estonia put wellness benefits on hold since Estonian government released the information that starting 2018 it will be tax free up to amount of 100€ per employee per quarter. This will be good for us this year but meant we lost some of the deals last year.
Like I mentioned a few paragraphs earlier, we are now ready to start new markets. In The Netherlands we made the first three month contract with country representative starting this January. Eve Reincke is the name of the person and she lives close to Amsterdam. The target is to qualify the market and decide if it will be worth for us to start sales there if we find we could move on, we will continue the agreement on both sides. Anybody having any ideas, potential customers or contacts to give to us, just let us know.
Fit100 is ready
Together with Estonian Olympic Committee and Coop Estonia we have created a fitness app Fit100. The app can be downloaded from App Store and Google Play and it includes SportID training diary as well as 12 fitness routines you can practice anytime and on the go as well. The app is available in Estonian, English and Russian languages. Just download, enjoy and send us some feedback if you think we could improve.