In the first quarter of 2024, we focused on improving our product and increasing our Social Media Marketing (reached 262,200 users). Our paid marketing strategies became notably more efficient, enhancing our reach and brand visibility. We entered new partnerships and started new product development initiatives, strengthening our presence in the market. Our Monthly Recurring Revenue (MRR) reached $3,540, and we had 24,318 new installs, with 927 active subscriptions. Our expenditures in this quarter included monthly paid ads spend of $850, a team spend of $1,500, and infrastructure spend of $500. Despite these expenses, we have been able to maintain a bootstrapped operation, relying largely on our revenues and organic growth. Moving forward, we aim to keep this momentum, focusing on growth, user engagement (with an average of 14k Monthly Active Users), and continuous product improvement.
In Q1 2024, Level Up Basketball focused on developing new features, including the imminent release of Pick Up Games to foster global player connections.
Pick Up Games:
Development:
Partnerships:
Our Challenges in Q1:
Our performance metrics for Q1 2024 demonstrate our stable positions and engagement within the basketball community: