Memo's Transparency

Here at Memo, transparency is one of our core values— we believe it's essential to being a responsible company. We've gone fully transparent for a number of reasons:
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To build trust with stakeholders. What we might lose in clout or reputation, we'll gain in kinship and community.
To hold us accountable. When we make promises, we're going to keep them.
To help others on their startup journey. It's not benefitting anyone to pretend like starting a company is easy.
To make the feedback loop quicker. Avoid errors and technical debt by laying it all out there and getting frequent feedback.
To inspire innovation internally. When you share your ideas in the early stages, you can tap into your network’s knowledge to make them even better.
To stop pretending it's smooth sailing. It’s exhausting, and it’s only a matter of time before the smoke and mirrors fail you.

We update this page quarterly. Last update: September 2022.

Years at a Glance

2021

• Our first full year in operation.
• Began as a public education program with goal of teaching users about digital citizenship.
• Quickly realized that in order to keep pricing accessible, we needed another profit centre.
• Spent the final quarter talking to other startups and building our corporate programs.
• Made no money or impact, but learned a lot.
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2022

• Made a huge pivot to a social enterprise business model (see below for details).
• Shifted our whole focus to the new corporate programs to get engine running.
• Began an active sales program.
• Realized we did not like a traditional sales program, set out to find an alternative.
• Officially became a profitable company!

Revenue Report

As a philosophy, we don't overmeasure. If it doesn't mean anything to our business, we don't pay attention to it. We only collect data when it's useful.
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$0
Funding received

$1,021
Monthly costs

$22,380
YTD Revenue

$39,775
Projected revenue

Funding recieved

$1,021

$22,380

$39,775

Monthly costs

YTD revenue

Projected revenue

Business Model

Here's the plan: We make money by consulting on responsible innovation practices in corporations. Then we use a portion of that profit to both reinvest in our public education programs (to allow them to be financially accessible), and donate to charities addressing the digital divide. Win-win-win.

We're committed to building an equitable financial ecosystem, not a profit vacuum.
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Here's how we spend $100 at Memo
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Taxes

$30

$10

$15

$23

$15

Donation

Public programs

Tools + Ops

Salaries

Profit

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