Refract Investor Update November

Hey everyone!

Jumping right into it today.

What do we need help with

• We're looking for a handful of angels who can help supercharge our growth.
  • This could be as simple as tweeting four times a quarter. If you know any angels that are interested in pushing forward security in web3 please introduce us. I've sent everyone on this mailing list a forwardable intro.

KPIs

Note: Metrics adjusted to remove Firefox which was providing inaccurate data.

• Weekly Active 8 834 (+30% month on month)
• 7 day retention - 86%
• Burn: ~$9 574, > 6 months cash left

Achieved

• Premium version of the extension is ready to be launched at the start of next week!
• Launched our first marketing campaign with blogs and influencers.
• Visibility into our infrastructure which has helped us drive down errors significantly.

The Good News

• The team is working cohesively despite working remotely.
  • We hope to all be in person by the start of next year.
• Continue organic growth and amazing feedback from our users. We're confident in our value proposition!
  • Just look at the testimonals in discord!

The Not So Good News

• The extension has had some severe breakages as well as our infrastructure having some high error rates.
  • We spent two full weeks working only on stabilizing our infrastructure and improving our tests. This delayed our feature development. As they said at FB, move fast with stable infrastructure :).

Goals for November

• Supercharge Growth: 20k WAU by the next investor update.
  • We've changed directions and are going all in on growth instead of revenue.

Shoutouts

• Thanks to James Tamplin for sharing his infinite wisdom with us about whether we should be pursuing revenue or just growing. He also opened our eyes to how important it is that we start hiring and double down right now!

Something Fun

• All the problems that we get to across growth, product, and tech are heaps of fun to solve! It's amazing that we get to help people and have fun while doing it.

Something Learnt

• We're doing really well right now. We need to focus to ensure we don't drop the ball!

I have a feeling this month is going to be an eventful one :).

Kind regards, Justin Phu