Dear community, we are very excited to announce that Howdoo is midway through its third raise in order to accelerate its growth plans.
We are all very proud of the work so far, and the positive feedback we have received from our community, content creators and advertisers; however, due to this positive momentum, it became obvious that Howdoo needs to increase its velocity if its to take advantage of the opportunities before it.
So in order to accelerate our growth plans, we are very pleased to announce a third fundraise is in progress.
So what’s the rush?
We’ve been genuinely taken aback by the amount of positive feedback. From all quarters (including mainstream media players) we are being told that our vision meets their demands, from users, creators and Advertisers; however, to take advantage of these opportunities, we need to accelerate our stated roadmap, geographic support and market awareness.
So there is institutional demand for tokens, creator demand for features and a marketing requirement to tell the world.
This additional raise will help us fulfil the demand for tokens, and deliver on the roadmap and marketing requirements.
What're the details?
This raise has a maximum cap of 150m uDoos, and there is a laddered buy price. This was structured to create an incentive for investors to commit early. Each ladder step sees an increase in token price that the investor pays. We are not releasing the exact specifics of token prices, but we can confirm that the lowest buy price is x3 current market price* and the final price is in excess of x10*.
All tokens sold will have an 18-month lock-up or will be released when there is a significant token price increase (from their purchase price, not market price). The tokens will be purchased in lots, and not on one specific date.
We are working with the investors to ensure that we have the right solution in place to enforce the lockup.
What are the main use of proceeds?
The extra funds will be used to increase our marketing budget, and increase our development team. All with the aim of delivering a world-class social media and content delivery platform and having the budget to tell people about it (users, creators, token purchasers and advertisers).
We are all very excited about the ability to accelerate our growth, and we will be releasing more details on our marketing activity (although we have shared a number of our plans beforehand) and development team changes over the coming weeks.
We’d like to thank our community for their continued support and positive engagement, and look forward to delivering beyond the expectations in our Orange paper.
(*at time of writing, 3pm GMT 4th July)
MORE ABOUT HOWDOO
Howdoo is a blockchain-powered social media platform that puts you in control. It’s a single application that combines all the best features of existing social media apps, but with a radical new approach to content creation & monetization.
* Users own their own data and decide what and how to share.
* Users can receive attention based income for allowing passive advertising.
* Feature rich platform for users and content creators, with PiP video streaming and more.
* Content creators have access to unique and fair monetization models, including tipping with the uDoo which the content creator retains 100%.
* Built with blockchain for speed and security.
Howdoo is currently live on web, and in the iOS and Android app Stores.