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Stagedoor is London's first discovery-led theatre app. You can imagine it a bit like the IMDb of theatre - integrated with a seamless booking experience which makes buying theatre tickets as simple as ordering food on Deliveroo.
We are positioned to become London’s most comprehensive ticketing platform - giving theatre lovers access to an unprecedented breadth of choice, all in one place.
This is because Stagedoor is the only comprehensive theatre guide in London. We use a combination of editorial, user-generated content and personalised data-driven recommendations to help our users find the perfect show - whether it’s a sensational West End musical or a trendy new immersive show making waves Off West End.
Each user’s experience is personalised to them. Stagedoor learns what kind of theatre you like and, by enabling people to connect with their friends, it drives word of mouth in a way that ensures our users are always ahead of the curb on the next big thing.
This investment round is being raised by way of a convertible instrument.
The key terms that apply to the Stagedoor investment are set out in the Key Terms Document attached to this campaign. In Summary:
Conversion of the deferred subscription agreement will take place:
• On a Qualifying Equity Fundraise of £350,000 or more, at the lower of (i) a 20% discount to the share price paid by investors in the Qualifying Equity Fundraise, or (ii) the share price based on a valuation cap of £4,000,000 (the discount does not apply to this valuation cap).
• If no Qualifying Equity Fundraise has occurred, on the “Longstop Date”, (which will be 30th September 2020), or a winding up. Conversion on the Longstop Date or on a winding up will occur at a share price of £2.09 (equivalent to a pre-money valuation of £2,962,752), or if lower the price per share issued after the date of the deferred subscription agreement.
• If a change of control or IPO occurs prior to the above events, conversion will automatically trigger at a price per share which is the lower of (i) the lowest price per share issued or sold as apart of an IPO or change of control, discounted by 20%, or (ii) the share price based on a valuation cap of £4,000,000.
Our goal is to bring more people closer to theatre.
Discovery apps are transforming similar industries by making it easier for people to connect with the things they love and to be more “in the know”.
There are thousands of shows in London every year and staying up to date with what’s on can be difficult. Information can be fragmented across hundreds of websites and booking a ticket can be a real hassle, especially on mobile.
Stagedoor aims to solve the above; helping theatre goers discover and book the best shows by making information accessible and relevant as well as the booking experience as simple as ordering food on Deliveroo.
Substantial accomplishments to date
• Raised ~£730K from angel investors & an EU innovation grant.
• Built a brilliant team of 10 (with experience in tech and theatre).
• Launched on Android and Web in the last year (in addition to iOS).
• Brand: we hired the UK's most trusted critic, Lyn Gardner to lead our editorial after working for 23 years at The Guardian.
• User growth: reached ~53,000 downloads.
• Growth capability: improved Cost Per Acquisition by launching an influencer campaign, working with West end actors with significant social media followings.
• Monetisation: Growing our first revenue stream by selling £100,000+ in tickets in the last 6 months. Begun testing our B2B revenue stream as well (Advertising) with £2,000+ revenue.
• Exclusive partnerships: Closed valuable partnerships with London's leading venues as well as theatre festivals. Stagedoor is now the official app for VAULT Festival and Camden Fringe, and we are now in discussions to bring Stagedoor to the Edinburgh Festival.
Our current main revenue streams are:
1. Ticket sales booked via Stagedoor, with 10-15% commission.
2. Marketing services to theatres. We are generating an unprecedented level of granularity of data on theatre-goers, their taste profiles, and their interests. This is hugely valuable when helping theatre makers reach the right audience.
In the future, we plan on developing the following revenue streams:
1. Subscription membership to our Theatre club: for access to exclusive experiences, community events, discounted / free shows, other theatre-related products or services, exclusive content & freebies at venues.
2. Merchandise, digital programmes & interval drinks in partnership with venues.
3. Advertising complimentary products eg. nearby restaurants and bars after a customer makes a purchase.
4. Paid professional profiles for theatre professionals, helping them showcase previous work, better engage with their fans and create new work opportunities through an online network.
Use of proceeds
Stagedoor is gearing up for a bigger raise in the next few months. The funds raised in 2019 will be used to further capitalise on the momentum we've built over the last year - investing a lot more in growing our user base and making ambitious improvements to the app & website.
Our goal is to get even closer to becoming the go-to guide & booking platform for the London theatre lover. Another area of focus for this next phase is our monetisation strategy - growing existing revenue streams and testing new ones.
25% Engineering team salaries
25% Other salaries
8% Editorial & content management
12% Other (offices, legal, accounting, expenses)
Please note, the company is pending to receive a €135K grant from the EU for which it has received approval in March 2017. There is a €96K shareholder loan which we have received in advance of receiving the grant money, which will be repaid as soon as the grant money is collected .
Every investment, however big or small, brings us one step closer to our goal of making theatre more accessible.
As a big thank you to all investors, we are offering the following perks. Join our journey and get discounted theatre tickets for your investment:
Invest £1,000+ ---> 10% off for life
Invest £500 to £999 ---> 10% off 3 years
Invest £100 to £499 ---> 10% off for 1 year