News update

Juiced Announces $100,000 Seed Investment

Giugno 30, 2023


Juiced IO INC, a pioneering company at the forefront of the side hustle industry is proud to announce a significant milestone in our journey toward revolutionary success. Today, we can announce that the company has secured a seed investment of $100,000 in exchange for 10% equity, marking a significant point in our growth trajectory. Our estimate, based on past marketing performance as well as an expected increase in LTV as a result of our newly launched app, is that this investment will grow our annual revenue from just over $262,000 in 2022, to a minimum of $1,500,000 by the end of 2023.

The announcement of the seed investment comes following months of negotiations between our shareholders and various outside potential investors. Speaking on the deal, Juiced IO INC founder and CEO Benjamin Hall said the following:

“We are thrilled to receive this seed investment, it really validates our vision and the hard work we have put into building Juiced. This funding will enable us to propel our growth and hugely increase our customer base”

Paul Evans

The investment is spearheaded by lead investor Paul Evans as well as Hamish Williams, both of whom are seasoned investors who recognized the immense potential of Juiced. Paul Evans is a software entrepreneur who is the founder and CEO of Redstor. Founded over 25 years ago, the company specializes in Data Management for an on-demand world. Redstor has disrupted the world of data management with pioneering technology and is today trusted by over 40,000 global customers across all industries. As well as this, Paul Evans has been an angel investor for numerous start-ups.

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Meanwhile, Hamish Williams has advised and invested in over 40 SME businesses with high growth potential, over the last 15 years. He has also served as a director across various different companies and is currently the chairman of Weardale Lithium, a pioneering UK Lithium exploration company that is aiming to produce carbon-zero lithium.

We are proud that these two highly accomplished businessmen see the vision that we see for Juiced, as we embark on a new era for the brand and company.

What does the investment mean for Juiced?

Brand 2

The side-hustle industry has grown massively over the past few years. As of 2021, there were over 23 million people engaged in buying and selling through sites like Amazon, eBay, and Shopify, with that number likely even higher today. Most impressive is that many of these sellers are young teenagers who start out trying to make an extra little cash to fund their college tuition or hobbies. However, these days, we see people actually turn this side hustle into a full-time living. This is the story of our founder Ben who was 13 years old when he bought and sold his first pair of sneakers. A few years later, Ben began noticing the lack of services available to help sellers with their struggles. That is when Juiced was born. The business he got into has continued to grow since and the resale market is projected to double in the next 5 years, reaching $77billion, according to Forbes.

We plan to capitalize on this growth and leverage this significant seed investment to acquire new customers and ramp up marketing efforts in a bid to further establish itself as the market leader in the side hustle industry, specifically in the area of selling.

As previously mentioned, we intend to allocate the investment toward marketing initiatives. The company recognizes the importance of effective marketing strategies in reaching its target audience and establishing brand awareness. Since launching in 2019, we have spent over $100,000 in marketing alone. Now with this investment, Juiced plans to increase our efforts, with the aim being to have an annual marketing budget of $300,000 by 2026.

Influencer marketing will be among the campaigns used to drive growth. We have previously used influencer marketing campaigns to yield anywhere from 2-5x return on investment. In addition to this, the investment will fund targeted paid advertising campaigns. To do this, we will capitalize on years of data and experience gathered, which will help us identify a target audience. We have also already hired a writer who will post daily articles in a bid to drive organic traffic to our website and increase brand awareness. By investing in marketing campaigns, our aim is to expand our customer base and drive traffic to our website which will ultimately increase sign-ups to our service.

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Additionally, the investment will fund our hopes of acquiring new customers through the means of acquiring competitors within our industry. To date, Juiced has acquired two competing services, similar to our Discord-based beta service and we now plan on bringing more like these under our brand.

These previous two acquisitions have to date yielded a 2-3x return on capital investment, highlighting the potential of this model.

Importantly, the seed investment not only provides financial support but also brings valuable strategic guidance and mentorship. Paul Evans and Hamish Williams both bring a wealth of experience and a strong network that spans multiple different industries. Their expertise and guidance will prove invaluable as Juiced navigates the limitless opportunities that lie ahead.

The future of Juiced

Juiced remains committed to its role in driving revolutionary change within the side hustle sector and community. We will aim to continuously enhance our capabilities as the industry grows further to meet changing customer needs and to ensure Juiced remains the industry leader it has established itself as in over 130 different countries.

Our goal for the end of 2023 is to reach $1,500,000 in revenue, driven by new customer sign-ups as a result of our marketing campaigns. In the long term, we hope to increase this figure to $6,000,000 by 2026. This will be achieved by focusing solely on re-accruing revenue as opposed to one time-subscriptions which will no longer be offered.

Finally and above all, Juiced would like to thank all customers both past and present for making this investment and growth a possibility.

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