About four months have passed since the major crisis faced by SGXcafe. At that time, SGXcafe had to choose between paying tens of thousands in licensing fees yearly to continue running, or face closing down. I have chosen the former, which is why SGXcafe is still operating today.
Although it put a huge dent in my savings, I do not regret my decision, because in the last four months, the number of SGXcafe users has grown by 250%. The knowledge that SGXcafe is truly useful, and that even more people are benefiting from it, gives me a sense of fulfilment like no other. However, what this also means is that more than half of the users might not know about the situation SGXcafe is facing, and unaware that they have the power to contribute, hence this little reminder 🙂
No matter who you are, there is definitely a way for you to contribute to SGXcafe! Here are two main ways:
1) By Sharing SGXcafe With Others
In the long run, the goal is to cover the licensing costs via advertising revenue. For that to happen, a healthy amount of traffic, which also means a large number of users, is important. By sharing SGXcafe with others through your blog or social media platforms, you are helping spread awareness of SGXcafe.
I want to recognize these efforts, so if you have helped share SGXcafe, please let me know so that I can credit you on the list here. In addition, to specially thank users who bring in significant traffic (as identified by Google Analytics), they will be also upgraded to Friend of SGXcafe for a year.
Here is a list of benefits for Friends of SGXcafe, with the main benefits being free of banner ads, and access to the private friend sections. There are also plans to add more benefits in the future.
2) By Donating to SGXcafe
As of now, the monthly advertising revenue is only able to cover 25-30% of the monthly licensing costs. While I am grateful that it has risen from the 10-15% from four months ago, it is still far from sufficient and SGXcafe is continuing to operate at a loss everyday.
As such, I would like to ask for donations to SGXcafe to reduce the impact in the short run. Any amount is greatly appreciated, but any amount equal or higher than SGD 30 would make you a Friend of SGXcafe for a year. To make a donation, please refer to this page.
Although only 35 users (or 1.4% of registered users) have donated since the last call for donation, they have donated generously (the average is well above SGD 30) and the donations have reached 10% of the yearly licensing costs. Thank you all very much!
There is no contribution too small, and I am immensely thankful for each and every gesture of contribution. If SGXcafe has been useful to you in your investment journey, I sincerely invite you to join me in keeping SGXcafe going together.
Happy National Day!