Close for now Do you hold SG, US, HK or MY stocks? How are you tracking them now?
View our Demo portfolio to learn how StocksCafe will do it for you intelligently!
Sign up for free now!

Subscribe to RSS feed SGXcafe Will Continue To Stay Free

By evankoh posted on 15 May 2016  -  9,657 views


Long Story Short

SGXcafe will continue to be free, but to cover for the high operating costs due to licensing, I would like to invite you to do one or more of the following if you would like to show your support for SGXcafe.

1) Help increase awareness of SGXcafe. You can do this via your blog, share SGXcafe's articles on facebook, or simply via word of mouth to people whom you believe can benefit from SGXcafe.

2) Donate to SGXcafe. Any amount is greatly appreciated, but if you make a donation of at least SGD 30 (which is less than 10 cents a day), you will become a Friend of SGXcafe for a year, and that would allow you to participate in private surveys, discussions and more that would shape the future of SGXcafe.

I sincerely invite you to do one or more of the above if you feel that SGXcafe has been providing you value in your investment journey.


The Long Story

Recently, I contemplated charging a small monthly fee for the usage of SGXcafe due to licensing issues which has increased SGXcafe's operating cost by several hundred times from just several tens of dollars to several tens of thousands of dollars yearly.

After further consideration and feedback, I have decided to keep SGXcafe free for a few reasons.

1) When I was contemplating how much to charge, what features should be in which tier, and how to convert users from non-paying to paying, it was all a big headache to me. More importantly, thinking about all these and then having to implement them takes up a good amount of time, which I could have otherwise used to actually make SGXcafe better.

I started SGXcafe partly because I wanted to have fun sharing knowledge and information, and I would much rather spend my time that way rather than constantly thinking about how I can gain that extra dollar from users.

2) I recently read a book where it talks about social exchange vs market exchange. Currently, SGXcafe is based on social exchange, where I am freely sharing knowledge and information and other users are also contributing by freely sharing their portfolios and patiently sharing their thoughts on how SGXcafe can be better. If it becomes a paid service, it would become a market exchange where users would have likely higher expectations and less patience, even if it is just a few dollars a month.

Therefore, on second thought, I feel that by making it a paid service would take the fun out of creating SGXcafe and might potentially create more problems than it actually solves.

However, there is still the very real problem of several tens of thousands dollars in licensing fees to pay yearly. In the long run, I hope that advertising revenue will be able to cover that. But currently, advertising revenue is able to cover only 10-15% of the licensing fees, which means that SGXcafe would have to grow by around ten times to achieve that goal. So in the short term, before SGXcafe can run solely on advertising revenue, I would like to ask for donations to SGXcafe. Any amount is greatly appreciated but any amount equal or higher than SGD 30 would make you a Friend of SGXcafe for a year and that would enable you to participate in private surveys and discussions mainly centered around the future of SGXcafe.

Why SGD 30? I chose this amount because (1) it is less than 10 cents a day, and (2) if every active user of SGXcafe donates that amount, it will be sufficient to fully cover the licensing fees.

Why Friend of SGXcafe? As I was mulling over the recent issues, I feel there are limitations to what a single person can do. Hence, I would like to invite more people to join me in making decisions for SGXcafe. If you are willing to support by donating, the act itself shows that you care about SGXcafe, and I value the opinions of people who care about SGXcafe.

How will donations be used? Donations will be used solely for licensing fees, and in the happy event where donations exceed licensing fees, I will ask Friends of SGXcafe on how we should use the extra cash; save for next year? License more in-depth data? License more exchanges' data such as Hong Kong, Malaysia, or others?

Thank you for your support; Let's work together to make SGXcafe better!


Like
13 likes
8 comments

starmaster - Thank you very much for your decision , as a show of support , i am donating :) , please keep your spirit alive!
15 May 2016 22:18:10

evankoh - Thanks! I have replied your email :)
15 May 2016 22:33:40

sebastian77 - Thanks will be donating,drop you a mail when I'm done.don't mind me asking but will the fundamentals data be back online?
17 May 2016 02:24:25

evankoh - Hi, some are already back -> https://www.sgxcafe.com/stock/profile/D05/dbs+group+holdings+ltd
And will progressively continue to come back online. Or maybe you mean the old iScreener and Comparator tools which is certainly also in the pipeline but there are many more features to work on than I have time.
So, I am now trying to let users to help me decide what should be features that I prioritize on.
17 May 2016 05:37:38

sebastian77 - Yup I meant the old screener with the John Nerf thingy if I remeber correctly where fundamentals are listed.anyway good to hear and thanks for everything
17 May 2016 15:56:37

evankoh - I see. Yup. They are on their way but those are actually more time-consuming in terms of implementing hence I was working on the easy stuff first :)
17 May 2016 19:23:11

thenakedshades - How do we donate?
28 May 2016 14:23:52

evankoh - Thanks for wanting to support :)
You can find the information here -> https://www.sgxcafe.com/help/support
28 May 2016 16:02:12



Next Article > < Previous Article
Rank and Compare Stocks Based on ... Dividends Collected is Back, and ...



List All Articles Other articles by evankoh

Quick Announcement: You can now change your portfolio name!
Among the numerous minor improvements in StocksCafe, I think the following will be one of interest to many. Every user using StocksCafe would have a portfolio named "Default". To some, this has been unwanted and they would like to have it renamed or deleted. The main reason why I have not allowed this so far is simply because StocksCafe was built upon the assumption that a user would always have at ...

Do You Really Know How To Calculate Current Yield?
This seemingly simple equation is in fact not that easy to compute. I recently adjusted and optimized the calculation of Current Yield from insights and discussions that several users have brought forth. What is Current Yield? English Definition: Current yield is an investment's annual income (interest or dividends) divided by the current price of the security (Source: Investopedia). Mathematical Definition: ...

Completed: Phase 2 of Hong Kong Market Integration!
After successfully migrating StocksCafe to the new domain and infrastructure, I have been working on further integration with the Hong Kong Market. Hong Kong Market Integration I am glad to share that phase 2 (of 3) of the Hong Kong Market integration is completed. This means you can now add Hong Kong stocks into your portfolio and/or watchlist, and of course also have access to all the associated ...