Nanno · Quick Nanno Update

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Hello!Liz from Nanno here, with a quick update on our efforts to conquer the world (of on-demand childcare).Quote of the Week"We’ve seen a bunch of companies trying to tackle this problem. You have by far the best retention rate."Speaking of Retention ...At the suggestion of some of our interested investors, we’ve put together some interesting data on our retention metrics. Here is a pretty graph showing the highlights: <img src="https://lh5.googleusercontent.com/Trb5BwmWaHeTfXKOWs-zkZE_sjiLYW11nixyLG5oiWuz_hVUJhsB_9fvlDkth41xS4kDNBA7zREhUMu_JdYeGJDF4DDV1hIJSs2BBUMh3wBM1J_Dbb4VNxGBlQnlaJA7jbsb9Fmr" class="fr-fic fr-dii">On average, 90% of users who book once book again. At 3 months our average retention is nearly 40%, and our retention curve flattens at 25% starting at month 7.To give context, here is a graph from <a href="https://mixpanel.com/data-reports/2018-retail-ecommerce-benchmarks-report/" rel="nofollow">Mixpanel’s 2018 Retail & E-commerce Benchmark Report</a>, showing the average retention curve flattening at about 10% at Month 1.<img src="https://lh3.googleusercontent.com/d1jNeNTUgWoOkzoyYQAB1oHxe2KqFyy7JIi9jybCtY1Z2kRhEWFR6EF-ebDtGIyXrP19aT_a6SOsor8M7Bn7PbHDCwrJz2cu1dMoIsWE9AXK9_pWomaWdxWIKnC6NzVRVOYPXUbr" class="fr-fic fr-dii">Taken all together, here’s what this tells me about Nanno’s early performance:<ul><li>The flattening of the retention curve indicates that we have achieved clear product-market fit.</li><li>The fact that the retention curve flattens at 25% indicates that we are solidly within the sweet spot for a successful marketplace platform.</li><li>The fact that we’ve achieved this so early, with so little capital invested, indicates that our retention will be even better when we have more capital to deploy.</li></ul>The final upshot of all this is that the analytics infrastructure we have in place is able to deliver this actionable data — which we are getting better and better at using to guide our strategy.In Other NewsWe’ve gotten some cool news coverage in the past few weeks, including a mention in Red Tricycle’s list of <a href="https://redtri.com/the-best-parenting-startups/" rel="nofollow">12 Startups That Are Making Parenting Life Easier</a> and a wonderfully detailed review of the Nanno user experience in <a href="https://military.citymomsblog.com/parenthood/the-stress-free-way-to-find-the-best-babysitter/" rel="nofollow">Military Moms Blog</a>.As always, please do reach out with any questions/suggestions! I know it sometimes takes me a little while to get back to you on questions and suggestions, but I do want to provide thoughtful responses to everyone!Liz

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Oct 7

2019

Quick Nanno Update

Hello!

Liz from Nanno here, with a quick update on our efforts to conquer the world (of on-demand childcare).

Quote of the Week

"We’ve seen a bunch of companies trying to tackle this problem. You have by far the best retention rate."

Speaking of Retention ...

At the suggestion of some of our interested investors, we’ve put together some interesting data on our retention metrics. Here is a pretty graph showing the highlights:

On average, 90% of users who book once book again. At 3 months our average retention is nearly 40%, and our retention curve flattens at 25% starting at month 7.

To give context, here is a graph from Mixpanel’s 2018 Retail & E-commerce Benchmark Report, showing the average retention curve flattening at about 10% at Month 1.

Taken all together, here’s what this tells me about Nanno’s early performance:

The flattening of the retention curve indicates that we have achieved clear product-market fit.
The fact that the retention curve flattens at 25% indicates that we are solidly within the sweet spot for a successful marketplace platform.
The fact that we’ve achieved this so early, with so little capital invested, indicates that our retention will be even better when we have more capital to deploy.

The final upshot of all this is that the analytics infrastructure we have in place is able to deliver this actionable data — which we are getting better and better at using to guide our strategy.

In Other News

We’ve gotten some cool news coverage in the past few weeks, including a mention in Red Tricycle’s list of 12 Startups That Are Making Parenting Life Easier and a wonderfully detailed review of the Nanno user experience in Military Moms Blog.

As always, please do reach out with any questions/suggestions! I know it sometimes takes me a little while to get back to you on questions and suggestions, but I do want to provide thoughtful responses to everyone!

Liz

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6 years ago

Keep up the good work.

0 Like Reply

almost 7 years ago

Liz,

If in the future if you do garner deals from other companies to sell their products directly through Nanno, you may find some could be tax right offs as a business expense. For ex: 1st aid kits for each of your sitters to take on jobs., phone apps sitters can download on their phones through Nanno of all the emergency services, numbers and locations in the area of the child care their doing. Even diaper service, meal apps and uber, lyft , pharmacy delivery and so on could be helpful things to include for the sitters just to have everything in one app a Nanno employee may require at some point. Perhaps the app company that creates these types of software could create one specific to/for Nanno as you grow larger. People can already have these things individually, but how cool if when you hire in as an employee of Nanno you get a gold key pass with access to an app generated for and by Nanno of every possible agency a sitter may require for a sitting care position. Again, your base of workers is seriously large enough to get smaller deals right now, especially when you show your future trajectory for the company.

Trust me, I know you got your hands full girl and doing a fantastic job. I am sure Republic is covering all the bases with you from the looks of it. However, I have not read anything by them of having any type of legal council on retainer for future aspects that may present themselves. All in good time, I know, LOL.

Hang in there Liz and everyone on the team and investors. This is a fast ride, but it is going in the right direction. We do not want to pick up to much speed to fast on this rollercoaster and LIz is the perfect individual to understand that. She has certainly impressed me by all she has said. She's got her head glued on tight. I trust her to make the right decisions.

Thanks everyone,
James

1 like Reply

Thanks and congrats. Go, go, go

Congrats! That's a great achievement!

Thanks for update

Hi Liz...Thank you for the update.

Hey Liz, I just wanted to say that I recommended your app to my cousin who is a new parent. So hopefully you will have a new customer through her.

Hey Liz,
What about for the parents that need more than a few hours of childcare? For example conventions, unexpected events, funerals, etc.
Is there any 2+ days package available or in the process?

3 likes Reply

Liz I am excited to be a small part of your funding project. I believe in what you are doing and I firmly know you will succeed. Best wishes for continued success in this critically needed endeavor!

Hi Liz thanks for everything

Hi Liz:
Great update. I am already recommending Nanno.

Hi Liz!
Thanks for the update. I love to see you growing. Maybe in the future you can develop a system that helps elderly people. The cost of Home Care and Home Heath Care is unbelievable .
Baby boomers are coming into age.
Lilian

2 likes Reply

Darn it!

Okay, to finish up here. You can have book bags for babysitting supplies that you give every employee with NANNO on the front for advertising You know, Liz, a welcome gift of some kind for new employees that also helps the company.

Maybe after a year of service of if they get plenty of good reviews or something. If you convince the children's products manufacturers as Nanno grows larger that you can sell directly to your 20, 000 and up employees you might get a lower price. Which Nanno can then sell the approved products by your team of children's videos parents would approve of, or games or toys or whatever. If you are not able to have a physical location in every city as a central base you could do a website your workers could get a good deal on things they would use in the child care their providing. Nanno also gets a small take on everything they buy.

They might need back up diapers or something. I would often take the kids to the park to tire them out so they would get to bed early. We would stop buy a quick food place and the four of us could get a quick meal of nuggets or a burger fries and drink all under 10 bucks. I would have the kids save some fries from their meal. The park had ducks and I'd have them all quack and the ducks would come swimming over to get the fries. Sometimes fish to. The kids love doing this.

Each school year I see folders and chalk and backpacks and crayons and so on all at very cheap prices. I use to stock up on crayons. 10 cents a box every year at local stores if you get them after school starts. We had a missionary overseas at church that said such things were hard to get. We would send them to Africa. Surely Nanno could get good deals to pass. Your base is already large enough to attract attention from suppliers and your just getting started. Kids love stickers and playdough and markers etc.

Okay, you get idea. Thanks for your response back Liz. It meant a lot.

James

@james-hendricks-1
Liz, I feel like a dope to answer my own comment section. Good grief. In rereading it on here I forgot to mention why I brought up the park and eating. It was to suggest you could buy restaurant gift cards for Nanno to hand out as rewards to employees to use for themselves. Even when sitting if parents approved that. Or you could even reward a nice evening out for two at Olive garden or something for parents or parties who book frequent or regular sitting appointments. Maybe even for the parents to get a gift as reward for referring other parents and family. They give you only so much allotted space I forget sometimes what I fully intended to suggest, but that was why I mentioned taking them out.

I also really love reading so many other Great suggestions to you by other investors. I am so proud of them. They really got their thinking caps on. I know you can not do everything at once, but I sure hope you have someone taking notes on all of them for you for use later maybe. I really love this forum space on Republic. What a great use for new business owners.

J

Almost 7 years ago

Hi Liz,

They never give me enough space. LOL I used to play a blanket game the kids loved. I would have them lay on their moms and dads bed. (the biggest) I'd ravel a blanket up and then each time I swing it in the air and let it fall on them I let about a foot of the blanket out. I tell them "oh no the blanket monster is going to eat the children," It would cover their feet and then their legs and I'd keep letting more out each time. They would squeal and giggle. Finally it would cover their heads when I reached the end of blanket. I say Oh my gosh it ate the children and then they would pop out from under. It was fun to do with them and they would want to do it again and again.

I'd make a deal with the kids. No popcorn or goodies unless they helped me pick up the house for mommy and put away their toys. They would always help. Sometimes I'd bring a deck of cards and throw them in the air. Then I tell them whomever picked up the most cards got a nickle. They would run though the room to get as many as they could. After a couple rounds of that I'd say that's how easy it is to pick up the house. It worked with the laundry to. My parents taught all of us how to be self sufficient at an early age. So to get the gets to help with laundry I'd tell them any coin money they found in the clothes was thiers, but paper money goes in the jar for mom and dad. We would separate it out for mom. Their parents always say they never knew how I got so much help out of the kids. I'd say you gotta make it fun. Maybe the winner gets to pick the treat for the night?

Anyhow, another idea was Nanno could try to make a deal with kid suppliers like toy companies or ones that target schools directly. When you grow larger you can pitch these companies you are another resource for their products. Your employees could buy direct from you.

Hello again, Liz,

I forgot to mention cross walkers. Here in Grand Rapids, Michigan we have a lot of inner city schools. The kids must walk to school and cross many very busy streets. The high traffic poses a great risk to the elementary kids. Sometimes drivers are not paying attention and do not stop. Sometimes they try to beat the cross walker and speed up. I've seen it all in the mornings when going and coming home from work.

These people are usually retirees. It is 2 hours in morn and 2 hours in afternoon and hard to find people for that type of schedule. Not for Nanno I'll bet? I do not want to take away a good job from seniors, but was wondering if you hire senior people to work for you? I think the schools use to hire these positions, but I've heard that some temp agencies and others are supplying them sometimes, so why Nanno? Their responsible not just for holding up a stop sign, but reporting reckless drivers, stop bullying when they see it or call in a sick child who really needs to go home. They have a big responsibility, but the children seem to love them. Hugs a lot I see.

When I babysat my nieces and nephews I always came prepared. I do not know if Nanno has any training for employees on what to do and what not to do? I bought my own story books to bring, and sometimes building blocks or legos. If the kids have a lot of toys I would use theirs. Age appropriate for the age group your watching. They would claim boredom until I grabbed their crayons and a coloring book. As soon as I started anything quickly wanted to join in what I was doing. My sisters knew they could trust me completely so I had full discipline if necessary and so on.

My mother always told them that if you want to be called back you have to help the mother. Clean the dishes or have the children pick up their rooms and so on. If you know the Dads
taste make up some sandwiches for his work lunch. Trust me it will be welcomed.

James

Thank you for the update in your retention progress. I don't have small children anymore, but I will be recommending Nanno to people I know who do have children still at home.

Looking good! Keep up the great work! I have nothing but confidence in the success of Nanno! You've made great strides. Keep it up!

Great idea! Thank you for the update

Thank you for the update

Hi Liz,
This are all great news.
Have you guys though of adding new services, like elderly care, and teaching services for kids ?.

Thank you for all the feed back.
Very respectfully.
Juan Aguilar

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