Friday, October 4, 2013

Valued SIU Member:

For the 3rd Sunday in a row, we are seeing a great thing come to an end. We regret to inform you that Round 39 2013 ending on 10/6/2013 will be our last for the foreseeable future. We are sure you have many questions at this point, many of which we will attempt to answer throughout this heavy-hearted email.

We started Streak It Up close to 2 years ago as a hobby and out of a love for sports (not to mention addiction to Vegas-like action). We enjoyed playing similar games / contests but wanted to take it to the next level. How? Non-stop action, multiple and frequent cash winners and a scoring methodology that made it possible for even the last place Streaker to win cash on the last day. The result? We forked out close to $110,000 in cash prizes and are confident we achieved these goals while having a ton of fun doing it!

Insert success story here right? Unfortunately not. We faced several insurmountable challenges along the way, one of which we would like to explain, not to garner sympathy from our Members but to show that we gave it our all and came up short.  Not to mention that if we can reach one future entrepreneur and save them a major headache, the SIU saga will truly be complete.

Our primary challenge was and still is member acquisition and retention. Starting-up as a self-funded company, we knew marketing and member acquisition costs would be challenging. But how much could it cost to acquire a new member really? I mean we offer a free and addictive sports game that gives away money. What sports fan wouldn’t want to sign up and play? There is our problem – we still do not have an answer to that question. Not to mention that after testing all forms of promotion within our arsenal, we determined it costs $18 to acquire a new member, 32% of which members remain active. That’s nearly $56 to acquire a new member. Tough. To this end, another massive error in judgment was believing that members would refer their friends. In hindsight, we performed mental gymnastics to convince ourselves the referral process would work when in reality our game actually dis-incentivizes members from referring their friends because it dilutes the prize pool.

But wait, there are advertisements and a subscription model on Streak It Up, so I am sure you made a lot of that $56 back right? Our website is ad-supported and we do have monthly subscription options. Combined these sources of revenues generate about $2.50 per user per month. That means we recover our $56.25 acquisition cost in exactly 22.5 months. Yes, once you have played Streak It Up for close to 2 years, we broke even on the money we spent to get you in the door and that doesn’t even include the prize money. This makes for a profit and loss statement that shows more red than -300 Blue Chip Prop favorite that loses on a last second “hail Mary”.

Now let’s address some of the financial concerns. Any and all Grand Prize and League winners through Round 39 2013 will be paid in full so long as they complete the Prize Claim rules at the bottom of this page by October 31, 2013. Additionally, we would personally like to thank our Premium Members for their support. There are few websites out there that our crew deems worthy of $2 to $3 per month, so your dedication meant a lot to us. Our website will remain active through 10/31/13. We encourage you to cancel your memberships starting Monday 10/7/13 by clicking on the “Manage Membership” tab on your profile page and following the instructions. In case you forget, we will stop processing the payments starting 10/7/13, but better safe than sorry. If you would like to request a refund of any partial Premium Membership charges, please send an email to [email protected] stating your username and registered email address if other than the one you are sending from. We will honor partial refunds through 10/31/13.

We would like to thank a few valuable partners that we met along the way. Sure, we had grander plans than what we ultimately achieved, but we would not have gotten this far without them. Selectable Media: thanks for believing in our site and our community. You cut us a break and we wish we could have lived up to the potential. Your product is awesome! GoalServe: Your ability to gracefully deal with the numerous moving parts involved with each game/match not only in the US but internationally as well is amazing. ESPN Streak For the Cash: Hats off to you for keeping up your successful contest for as long as you have. The amount of work that goes into creating a Streak card for just 1 day is exhausting. Keep up the great work!

Lastly, to all of our SIU Members – we thank you for all of your support over the last 2 years. Many of you went above and beyond to help us build a community and add value to our game overall.

Best Regards,
The SIU Team

Wednesday, May 15, 2013

StreakItUp Avatars

Well we're not going to allow you to upload 37 pieces of flair, like pretty boy Brian, but if you want to express yourself with one, were cool with that.

Time to show off the personality whose behind the user streaking on the Leaderboard.

Simply go to your settings by clicking your username in the top right hand corner and select the avatar tab.  Navigate to the image on your computer and upload it.   It's that easy!

Please remember these guidelines when uploading an avatar..

For best results, upload an image with a similar height and width.
No images greater than 400px (H or W) will be accepted.
No profane images; users abusing this will lose their rights to an avatar.
Image formats accepted: (.jpg, .png, .gif, .jpeg)

Wednesday, May 8, 2013

SIU Insights - First Daily Drawing Winners

SIU Insight - First Daily Best Insight - RINAKI09

SIU Insights - Reward Yourself with Credits!

The most frequently asked question we receive from our members “How can I get more Credits?”. We just launched a new feature that will not only get you more Credits, but will allow you to brag about your superior sports knowledge and prove it!
Starting May 7th 2013, the author of the SIU Insight with the most “Likes” each day will be awarded with 5 Credits! Your SIU peers will read, judge and potentially “Like” your insight before, during or after the prop.
Worried about giving your fellow Streaker’s more credits? Well, in return for making SIU the best Pick’em community, we will raffle off 10 awards of 1 credits each day. For each ‘Like’ you give, you will receive another entry into the raffle. Best of all, you can win more than once.
Simply click on the SIU icon in the bottom right hand corner of each prop to Create a New Insight or View Existing Insights. Prove it to your family, friends, members, and us you are the Best Streaker at StreakItUp!
Official Rules
  • 5 Credits will automatically be awarded each day to the author whose SIU Insight receives the most “Likes” from other SIU Members. In case of a tie, each unique author receives 5 Credits.
  • 10 awards of 1 Credit will be granted each day to members who “Like” an author’s SIU Insight. These winners will be determined by random drawing. Each “Like” = 1 entry into the drawing. Members are eligible to win more than once.
  • The following day, winners will be posted on SIUs homepage and Credits will be awarded (i.e.: Sunday winners announced and Credits available on Monday morning).
  • SIU reserves the right to reject any submitted SIU Insight for any reason at their own discretion.
  • SIUs decisions with regard to Insight approval, counting “Likes”, random drawing winners and the resulting awards of Credits are final and binding.

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Monday, February 25, 2013

New Feature - SIU Insights by SIU Members

Members will now be able to show their sports knowledge and expertise on props throughout the day. 

Create your own insight and let other SIU member's judge how smart you really are.  Users will be able to 'Like' your post.  The more Likes you get the higher your ranking will be.  Rankings will determine your order, letting users view the best ones first.

Insights will be available to be created and edited up until the prop locks.  When an insight is created or edited it will be reviewed by an SIU admin to make sure the content is not detrimental to our site.

 Be the first to write an insight on your favorite prop today!

Monday, February 18, 2013

New Power Up: 50/50

We're excited to announce a new Power Up: 50/50

You pick 2 props, and all you have to do to get a W, is to get one of the 2 correct. Sounds easy, right?
It is easier to get a W, and for that reason, it will cost a pretty penny.

We'll charge 7 credits for this Power Up and you can only use it once per streak.

Regarding Pushes, this is how we'll handle them:

- Push and a Win: You get the W, the credits refunded and the Power Up refunded.
- When both props Push, you get a Push, but your credits and Power Up are refunded.
- When you get a Push and a Loss, you get a Push added to your streak, but you won't get any credits or Power Up refunded.