Loopz Gift Cards
Gift Card app for the Clover, Shopify, Square and WooCommerc
The first full year of running Loopz was a great success. The year started off with around $350 MRR and now we're at +$5000 MRR. Total non recurring sales clocked off at round $68K.
We were using a transaction based billing model at the start of the year, charging 2% on any value loaded onto a gift card, but starting April 1st, we introduced 2 subscription plans with a fixed price. This greatly increased our MRR and gave a more predictable revenue stream. In November we added another subscription level for our more advanced features.
Shipped a lot of features like bulk gift card creation, connecting to Shopify to enable online gift card redemption and our online dashboard for managing a gift card program.
Invested time in the reliability of the backend server which really paid off during the holiday season which saw an 10x increase in gift card creation volume.
November and december was crazy printing physical cards which I do myself for small batches (500 cards or less). Next year I plan on being more prepared for the holiday rush.
Going into 2021 with a backlog of features I'm itching to work like building out more Extensions for connecting to e-commerce platforms and more dashboard features. Also want to expand onto another POS platform besides Clover like Toast.
Since launching in August 2019, 850 merchants have signed up for our gift card app on the Clover app market and 850K in gift card value has been issued by our merchants. We haven't done any marketing and merchants are finding us in the Clover app market organically.
Reviews for our app have helped us a lot judging from talking to new merchants. We're the highest rated gift card app in the Clover app market.
We're currently at 2.4K in MRR and that number is growing by 20% MoM. We're also selling physical cards and merchandise for 6K+ a month.
Originally I built an Android app for the Google App Market for selling and redeeming physical and digital gift cards. Uptake of the app was low and I almost had no one convert to a paid subscription. The target audience (merchants) were just not finding my app or finding it useful.
I discovered the Clover POS system a year earlier and pivoted the app to integrate with their POS which is Android based.
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