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Top 5 Weekly Highlights
SeedInvest’s Weekly Highlights is a roundup of a selection of 5 deal updates, key milestones, portfolio company news, and more from the prior week.
1. Gatsby achieves consecutive record trading days & crosses 15K accounts ahead of campaign closing soon
Gatsby, an options trading platform for a new generation of traders, is closing its round on SeedInvest soon. Last week, the platform achieved multiple consecutive record trading days and its community has now grown to over 15,000 accounts.
In a response to the uptick in options trading caused by the recent social media driven short squeeze on GameStop’s stock, Co-CEO and Co-Founder Ryan Belanger-Saleh comments, “The goal now is to help keep these new users safe and give them the tools they need to grow into successful traders. Bringing a generation of new traders to the market without the proper guard rails in place, is bad for the customer, bad for brokerage firms, and bad for the industry.”
Gatsby is on a mission to create a new, simpler, commission-free way for younger investors to trade options.
2. Leafwire announces addition of new platform feature, a dispensary directory
Leafwire, an online platform for the cannabis and hemp business community, will be launching a dispensary directory in early 2021 for the near 7K+ dispensaries nationwide, enabling members to search for nearby dispensaries, share reviews, and gain special access to discounts. The addition of the dispensary directory is a part of both the company’s go-to-market as well as its revenue strategy.
3. SeedInvest portfolio deal, Get Maine Lobster, achieves hockey-stick growth as a result of new ad strategy
Get Maine Lobster, a direct-to-consumer seafood company, took an advertising risk last March and it’s paying off. As millions of Americans sheltered in place, business picked up, so CEO Mark Murrell decided to spend on advertising like never before. “We’re very data-heavy and always analyzing every dollar spent,” said Murrell. “That’s why our marketing has evolved. It’s really analyzing the data and where customers are in the journey. We’re pouring gasoline where it should be poured…” In December 2020, Get Maine Lobster sold more lobsters in three weeks than it did in the entirety of 2019.
4. Virtuix starts 2021 off strong with $400K in Omni Arena sales
Virtuix is pleased to announce its sales of Omni Arena, Virtuix’s multiplayer attraction, are off to a strong start in 2021. In the past three weeks alone, three new venues have ordered Omni Arena systems, delivering over $400K in sales. The $165B global video game market has seen steady growth since 2009, but the global pandemic pushed demand for both games and hardware to new highs.
5. Subziwalla, a SeedInvest portfolio deal, grows its userbase since the start of the pandemic
Subziwalla, an Indian grocery delivery app based in Atlanta, has achieved significant user growth since the start of the pandemic. “During its first three years in operation, multigenerational households in the suburbs made up a large portion of its customer base. The company reported about a 40% customer retention rate as they gained new users mostly through word of mouth. The pandemic helped that number skyrocket to over 60%.”