Our goal with Lob is to provide companies with a means to automate processes and workflows around physical real-world infrastructure. We firmly believe that APIs are the answer. Consequently, a focus on technology and engineering will help us achieve that vision. This is why we put the developer first. We aim to arm them with the tools to streamline their businesses and applications.
Our most successful product to date has been our Print & Mail API, which allows developers to access commercial print infrastructure on-demand in a programmatic fashion. Lob customers have taken advantage of this. We have seen a huge variety of use-cases ranging from enterprise applications to creative consumer applications. Our API has helped developers offer printed collateral from within their apps. As a result, they have a means to monetize and to bring creative assets to life.
By giving developers such a platform, we are able to aggregate and queue up demand. In turn, we could give our customers on-demand pricing. This is a powerful concept and has been extremely successful for us. As our volumes scale over time, we are able to pool more demand and push our costs down even further. When that happens, we pass those savings back to our customers. This is a virtuous cycle and we are always evaluating our business model to find ways to save our customers money.
Today, we are proud to announce our first round of price cuts. First of all, we took a very close look at all our products and the processes we have in place with printing and fulfillment at our facilities. Across the board, we have lowered pricing 7.3% on average, with some products being lowered in excess of 20%.
Weâ€™d like to celebrate our success by showing appreciation to our current customers and making it that much easier for developers everywhere to continue building amazing applications on our API.
Take a look at our products and pricing here. We are always exploring and beta testing new and exciting products to offer through our API, so stay tuned for new product releases!