iBuyApp is an advertising platform for local business in secondary cities. Started in Abilene 4+ years ago, and now raising capital to move into Lubbock, Amarillo and Midland. The app captures name, email, phone and birthdate and amount of spend of users and feeds that information to our retail clients which they can use to build their own marketing programs. iBuy is accountable, quantifiable advertising. We have about 253 retail clients in Abilene and 32 in San Angelo, Texas. We are now expanding into Lubbock, Texas. The app has done very well with 40,000 downloads and about 10,000 active users in a 90-day time frame, and generates 15,000-20,000 ad clicks per month and 1/3 million page views/month. iBuy is on the phones of 50% of women ages 35-55 in its target markets. Users redeem about $200,000/month in offers at our merchant locations and, lifetime to date, users have redeemed $11 million in offers (retail sales value). iBuy adds 300 new users each month through word of mouth alone.
Small local retailers and restaurants have limited ways of advertising. iBuy aggregates users which serves our merchants, putting them in front of 10,000 regular users. Likewise, we aggregate merchants to give users the full variety of what's available and a discount as well. We charge $2 per ad click, minimum charge of $35 and a cap on charges at $300/month. We also email our user base once a week with new offers and new merchants added to the app. The open rate on our email is >20+%.
iBuy App is now expanding into Lubbock and use of proceeds includes consumer outreach advertising to build our user base there.
The iBuy team is led by Harold Montgomery, a Stanford BA and MBA and 7-time scaling entrepreneur. Ivan Via leads sales. Ivan ran a restaurant and has sold advertising. Colton McCaleb handles social media and graphic design. AJ Pharr handles sales in Lubbock.
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