HUDU, INC.

Summary

Before continuing, we encourage you to view the platform at HeyHUDU.com or view our product demo video.

Funding Ask: $2,000,000 in Series Seed Funding via SAFE (Simple Agreement for Future Equity). $25,000 minimum. Raised $600k of $2M.

Revenue Model: HUDU makes 20% on each project. 5% from the Lister and 15% from the Doer.

About: Built for simplicity and convenience, HUDU is a unified marketplace designed to eliminate barriers and friction points that people face when trying to get odd jobs completed. It addresses the inefficiencies around small, local odd jobs that are traditionally facilitated through fragmented platforms or personal networks like Facebook or Nextdoor. HUDU streamlines this process, making it easier for Listers to list projects and for Doers to find work.

HUDU’s core offering is its app and web platform, enabling users to quickly and securely create listings or bid on projects. Listers can list various odd jobs, from home repair to photography (if it’s legal, you can list it), while Doers bid by setting their price and availability.

Payments are handled through the HUDU Wallet, where funds are securely held in escrow until the job is completed, ensuring a safe transaction for both parties. HUDU Chat facilitates communication, providing privacy and clarity. The platform also features a peer-review system and optional background checks to ensure quality and trust.

HUDU has a robust founding team with a proven history of building, scaling, and selling both products and companies. The five-member team brings expertise in construction, finance, technology, sales, and storytelling.

It’s time to stop asking “Who do you know” and to start asking “HUDU you know”. With a proven business model that is highly scalable, HUDU will be to odd jobs as Uber is to rides, if you need something done, HUDU it.

Traction

HUDU soft launched in Des Moines, IA on Feb 3rd, 2023. We have run monthly cohort analysis since launch, constantly working to improve all KPIs. The attached cohort analysis shows that users are listing more quickly, getting bids sooner, awarding larger projects, and awarding them more frequently.

Path to $500 Million Valuation

HUDU is a venture backed company with each round of funding fueling growth. 

We are currently in our Seed Round, raising $2 million via S.A.F.E (Simple Agreement for Future Equity). Target Sales Objective is $5M. We will use this funding to achieve the metrics required for Series A.

Baseline KPIs: Customer Acquisition Cost: $91 - Average Project Value: $230 - Frequency Rate: 2.8

7,764 Revenue Generating Users at 2.8 projects per year with an average project value of $230 = $5M in Gross Marketplace Volume (GMV).

Total Customer Acquisition Cost of 7,767 RGU at $91 each = $706,524

With $5M in GMV at a 10x multiple, HUDU will be valued at $50M.

HUDU will then raise a Series A, $10 million at a $50M post money valuation. Target Sales Objective is $50M. We will use this funding to achieve the metrics required for Series B.

Based on our cohort analysis over the last 19 months, we forecast our KPIs to be as follows: Customer Acquisition Cost: $63 - Average Project Amount: $310 - Frequency Rate: 3.3

48,876 Revenue Generating Users at 3.3 projects per year with an average project value of $310 = $50M in GMV.

Total Customer Acquisition Cost of 48,876 RGU at $63 each = $3.08M.

With $50M in GMV at a 10x multiple, HUDU will be valued at $500M.

NOTE: These calculations only factor in HUDU’s primary business model for generating revenue. They do not factor in background checks, HUDU Pro subscriptions, debit card fees, or other future revenue streams.

Unit Economics & Return on Investment

Using HUDU’s baseline KPIs, which are less than the average trailing twelve month data, the average Revenue Generating User is having 2.8 projects completed on the platform per year, with an Average Project Value of $230.

With 134 million households in the United States, all with a long list of to-dos, must-dos, and honey-dos, HUDU’s Total Addressable Market is $86.3 billion dollars. 

At a 1% market penetration, meaning 1.34 million households are using the platform, HUDU will have an $8.63 billion dollar valuation. This is at a 10X valuation multiple.

(1.34 M Listers x 2.8 project x 230 Average Project Value = $863M Gross Sales)

After dilution from 3 projected venture capital rounds, your $100,000 investment will own 0.176% of HUDU.

0.176% of $8.63 billion is $15,188,096.

A $100,000 Seed investment will return $15,188,096 at exit, a 151.88 X return on investment.

Exit Strategy

Our objective is to make HUDU as essential to daily life as Uber is for rides, Airbnb is for stays, and Amazon is for shopping. Today these platforms are household names and are used by millions of people. HUDU will be the next consumer platform to join this list. 

Each of these platforms are publicly traded companies, as is the objective of HUDU. 

Target Initial Public Offering is 2030.

Additional Resources

You can view our Cohort Analysis here.

You can view our Financial Model here.