How Popup SRL CEO Francesco Teodori grew Popup SRL to $15.4K revenue and 100 customers in 2024.

guys popup.lol helps restaurants Drive online engagement during physical events they've got 100 customers paying uh caught 35 bucks a month or sorry 25 customers paying 35 bucks a month doing about 875 a month in Revenue that's up from nothing a year ago because they just launched in February here of 2022 they raised 80 000 in funding so far from friends and family who own 20 the last valuation was 900 000 bucks they're building us with a team of three we'll see what happens next hey folks my guest it is Francesco teodori he's the co-founder of pop-up srl an Innovative startup engage in providing innovative solutions to the entertainment and hospitality industry it's effectively social media a social menu for nightlife at popup.lol Francesco are you ready to take us to the top yeah yeah all right what is social menu for nightlife mean is this like a list of restaurants or what uh well it's not actually a list of restaurants the hour is a digital solution we came up with a special QR code which doesn't give you only a digital menu but there is a real-time social experience where people can actually interact in real time in Vegas okay but what are you showing them what would tell me how a customer is using you yeah so basically um imagine you you are in a bar or in a restaurant you scan a QR code you land in a digital menu uh together with the digital menu you have another section where you have a people room and the boardroom where people can actually see who is nearby in the venue they can interact with the chart messages and dating interactions and they can also post for me but how would they know who's nearby if the other people nearby haven't logged into the same application don't you have to get everyone to log in uh yes but we also have a jotak mechanism which allows us to actually understand who is uh within a geofets so basically we through the GPS coordinates we are able to understand this yeah but how do you get my data let's say you're at a restaurant sitting down using popup.ll I'm sitting five feet away you log into the pop-up.lol app Howard pop.l know that I am sitting five feet away yeah you have to login yeah so I mean it's not a massive problem I never log into I hate scanning things to look at a menu when I sit down at restaurants why would I log into a social app inside the barcode QR scanner well you can actually access the the menu without any login but in order to access the social features you have to access by logging in and the reason why you you would log in is to see what are the other people so if you don't log in you you don't see the other people so it's like a soldier so if you if you want to participate in the social experience you have to register and also show to the other people your your social media how many people registered last month um we had over 200 people okay so 200 people and as any specific geography or is that all over the world uh no we currently are running a pilot in um Italy in the center of Italy we uh mostly are working in the market which are two regions in Italy and of those 200 that registered last month how many restaurants was that across uh we have um as of today under the restaurant okay so on average how many people logged in per restaurant last month uh this is something I need to check but usually we have over 1 000 visits in in a venue but not visits people log register because you have to register to see people next to you you told me you had 200 people registered last month across 100 restaurants based on logins we have on average 300 500 people uh logging in oh what's going on there YouTube good to see you guys now imagine this you love watching these interviews with SAS Founders but imagine if we took all of the valuation data out from over 2807 interviews I've done manually saves you a lot of time well we've done this we've built the into the beautiful interface inside of founder path check this out I'll show you how you can access this in a second but 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founderpath.com and hover over products click on get your valuation here and go ahead and sign up to give it a whirl again all that valuation data live right inside the platform I hope to see you there all right let's jump back into the interview okay so what's the difference between a login and a register and a register sorry can you repeat nothing you told me you have 200 registered last month what's the difference between a register and a login what's the sorry I I don't I don't hear you very well you told me that you had 200 people register last month yes and you just told me that 500 logged in last month yes how are those two things different oh um okay um what time um so over the the life of our of our of our company we had several registers so last month uh we had 200 people registered uh I mean logging in the the platform uh so 200 people were there registered the 500 were those logins who actually accessed the the social meds understood so the 500 logins came from people that may registered months ago yes exactly yeah so 500 logins across 100 restaurants is an average of five logins per restaurant in a month I mean what's the likelihood that those five people that log in at the restaurant were even there at the same time so they would see each other at the same time I mean don't you log in and register to this thing and you see no one around you so that that's correct this is something we are working on in order to improve our experience indeed most of the time uh the pilots that we have run were in specific events so our let's say validation um was during digital events where people were explained on the functionalities and how these two worked so I thought now the restaurants are using this mostly in special events and how much do the restaurants pay you per month to use the technology so they on average they pay 30 Euro okay so about 30 35 United States dollars per month and you're at a hundred restaurants you said you have 100 customers uh yes but uh let's say um we we have a business model where where we provide some customers with a free version which has some limits and how many are paying we have a 25 page okay so 25 times 35 bucks a month you're doing about 875 dollars per month in revenue is that right uh yes sometime more because we also have a annual um subscriptions where they basically pay up front uh the whole fee well sure but I'm not asking on a cash basis you would divide that fee by 12 to get your monthly recurring Revenue yeah yeah yeah okay um so put this on a timeline for me when did you guys launch the business um we went to the market in uh in February but we made some some people think in the Midwife oh so you just launched this year yes yes ah amazing and who is we how many co-founders uh we have two people it's me and Danielle the the CTO so the magic mind behind the technology did you guys split Equity 50 50. uh no he he has a lower advocate because he has a small lower um involvement in the in the project so you took like 60 percent yes it's uh so it's basically a 50 percent uh me he has like 25 then we have uh we had the feminine friends around which has uh 20 and then uh we have the fifth five six percent for the rest of the people that makes sense how much should you raise in the friends and family round uh where as of today we're ready...