Read the official press release here.
After 4 months we have finally closed our Wefunder Campaign! In the process we raised over $300k from customers and 2A supporters.
It was a long road, but it was worth it. Now we have a small (in the investment world “tiny”) runway to build out our technology and make some other business improvements. Unlike many other companies that are raising funds for the first time, we aren’t really a “startup”, we’ve been around for five years and more importantly: we have customers. We have a proven business model that is really showing its value in today’s climate of ammo shortages. So we don’t have to depend solely on the funds raised from Wefunder to support the business. We can use the funds to IMPROVE the business – which is exactly what we plan to do.
Speaking of customer growth, this month we’ve seen EXPLOSIVE subscriber growth numbers. Just this month alone we’re headed for a 27% increase in new subscribers. With the COVID-19 situation creating a run on guns and ammo, we have many new subscribers who want to start socking away ammo for a rainy day. Better late than never. While it won’t help customers during the current ammo shortage unless they have inventory already stored with us, it will help in the next one, or the one after that. AmmoSquared is pioneering a new business model of ammunition purchasing that just makes sense. It is as valid today as it was in 2015 when we started. Our detractors and naysayers are melting away with every passing day.
It is exciting to be on the cutting edge of technology in a “stodgy” industry like ammunition. It is also difficult because we are out in front educating people about our unique approach to buying ammo. It is really uncharted territory. BUT we have 652 new investors and thousands of customers and supporters that believe in our business. That is something to be proud of!
With the funds we’ve raised we can REALLY get down to work and start addressing all of the areas that have been holding us back. Primarily our technology. We have already started building a better website and more intuitive user interface. It isn’t easy or quick because we’re building from scratch, but it will be worth it in the long run… Fully 80 to 90% of the customer suggestions we get are for improving our web interface. We need to make it easier to use, more intuitive and overall just a better experience for new and existing customers. With this capital raise we are on our way to doing just that.
Thank you everyone that was able to pitch in and buy shares in AmmoSquared Inc. It is going to be a great ride so you better hang on tight! 🙂
PS: while our public crowdfund is now closed we are still accepting investments from accredited investors for another month or so. If you would like to learn more visit our Invest page and get in touch with us!