Ferris Speddy

What's the, what's the pricing model here?

Yeah, so we initially launched with a monthly subscription.

It was $10 a month.

And the app, looking back now, very elementary compared to what it is today.

And we've made a lot of progress.

There's still a lot more work to go, but it was $10 a month.

And then the following year in 2017, we added a yearly subscription option as well.

Why did you make a decision to add a yearly option?

Yeah, so actually a couple of reasons, but number one, the members of our community actually wanted that.

You know, if the people didn't want to get billed every single month for something that they knew that they wanted for a long-term, which is amazing.

The other thing too, just looking at the unit economics, when, you know, if you have something monthly, you have to get someone to repay 12 times to equal a year, right?

And so if you can position it where you actually get a discount for going yearly, then they save money and it's perceived higher value because it is.

And you don't have to convince someone 12 times.

They have a whole year to keep their loyalty.

And what was that annual price you launched with?

It was a hundred bucks.

So when we launched, it was 10 bucks a month.

We actually have changed the pricing six or seven times in the last four years, just tweaking things.

So we changed the monthly pricing to $15 a month.

So you could compare 15 a month or a hundred a year.