Clickasnap annual report Aug ‘21

Firstly, apologies for the delay in this but it has been a rather hectic and stressful year to day the least! Secondly, we will no longer be doing quarterly reports as we would rather not give our competitors virtual real time updates.

This last year has certainly been an interesting one. This time last year we were starting a parabolic growth curve that led to us having 15 million users and over 300 million page views over the last 12 months. Unfortunately the traffic drivers for this surge was viral tik tok, YouTube and Instagram videos claiming that making thousands of pounds overnight was to simply steal some photos anywhere online and simply upload them to your Clickasnap account where you would be paid 70 cents every time your photo was viewed. The downside of this is we have had a huge amount of the ‘wrong’ users on the platform the upside, we have had a huge revenue influx that will pay for the new website.

This traffic is calming down now, the plus side being that less stolen content is uploaded and those users joining are more likely to be the ‘right’ type of users. Eg those users who want to see a return for their photography and are tired of mainstream social media and their associated algorithms. The downside of this is that revenue is falling. This was expected however as the traffic drivers were neither sustainable nor were they portraying the site accurately or honestly. Currently all our resources are being directed to getting the new site out which is anticipated in January/February ‘22. Once this has been launched we will then start heavily investing in marketing again.

This year we have spent the last 9 months and roughly £1m rebuilding the entire underlying infrastructure for the website. This makes it cheaper to run and, just as importantly, infinitely scalable no matter how much traffic gets thrown at it. We are now in the final stages of the transition to the new website which will be radically different from what we have now. I won’t go into specifics on a public forum but needless to say, it will be a substantial improvement on the present offering.

Payments to our users this year have increased by almost 400% (from 0.15c to 0.70c) that shows the theory that as the platform grows so does the payments passed onto our users. This was pleasing to see and when we resume our growth curve we expect to see these figures continue to rise

We are currently still seeing approx 3,000 users per day signing up and image quality improving and coupled with this we’re seeing the retention time of each sign up almost quadruple over the last 12 months even though the only real improvements to the existing site were speed related we are expecting this to increase significantly when the new site is release d and is fully functional and easily browsable. Monthly users are hovering around 500,000 and we do expect this to drop further assuming no external drivers r until the new site is out. We know this because we have exit interviews when accounts are deleted or closed and usability is cited as a major reason for leaving the site hence the ploughing of all our resources into that new platform

Any questions you may have please do contact me. Until next year!

Tom oswald

CEO and Founder

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