Mid-term : 2020/2021
Eventer made a 2-years financial plan and 5-year forecast.
There is a significant investment phase over 3 years to ensure the rapid growth that is essential in this sector.
The main objective is to increase the number of users abroad (b2c) and to create a recurring business (b2b) that secures profitability.
The project is ambitious and the ROI is very important.
High users' growth rate and introduction to advertising in the app
Each euro invested creates value! After a financing round with the founders (€72k), a business angel (€50k) and a crowdfunding campaign (€100k) in 2017, Eventer is now looking to raise €300k. Eventer currently has a preference for crowdfunding campaigns because the Eventer's and the crowdfunding market are really similar (b2c, 25-55 years,...)
As from 2022, Eventer will start to be open to new potentials buyers. The buyers will particularly be focused on the product and its position on the market.
Special communication following the current circumstances and the impact of COVID-19:
As the events sector is particularly affected by containment, Eventer recorded a postponement for 70% of events and 30% of cancellations over the containment period. On the other hand, clients used Eventer in the context of COVID-19, in particular challenges or contests to keep employees motivated and in touch with each other. The application's activity was also maintained through the use of Eventer by groups wishing to share their experience during containment via Eventer.
In terms of revenue, Eventer therefore feels a deferral rather than a loss. At the same time Eventer reduced costs (short-time working) and received a Covid bonus of 4000 € from the Brussels region.
This period was used to redirect the marketing/sales team in the development of the online sales and payment system, the optimization and automation of communication on social networks and the improvement of the website (SEO).
On the development side, the application offers a new "Stay@home" theme and the ability to create live streaming videos. The photo quality has also been increased in Quad HD.
Push Notifications should appear within the month to provide a better user experience and increase recurring usage.
Finally, the search for funds has intensified as Eventer is in negotiations with several investors in Europe, Asia and Australia.
The COVID-19 implications are therefore not expected to have any negative financial consequences for Eventer and has allowed the team to focus on the future.
It is still difficult to estimate post-Covid economic activity and in particular corporate event budgets, but Eventer is confident that they are presenting an attractive and affordable solution that is particularly suited to tight budgets.
Break even year
1 March 2022