Sircles

The Social Recommendations App Designed To Destroy Yelp!

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Security Type
CAFES
Categories
Technology, Entertainment, Social Impact, Travel, Retail
Min Investment
$250
Location
Sacramento, CA
Offering Date
September 21, 2020
Expected Close Date
April 29, 2024
Target Raise
$100.00K-$618.00K
No. Investors
1
Security Price
$1
Deal Notes

Discount: 10%

Website
sircles.com
Number of Employees
11
Cash
$877,813
Revenue
$0
Short Term Debt
$87,812
Cost of Goods
$0
Long Term Debt
$4,332,475
Net Income
$-1,265,533

Company Description

Sircles is Yelp meets Facebook for recommendations, minus the negativity. Sircles was constructed from the ground up with painstaking attention to detail, to be nearly impossible to use in a negative way and, further, to reward good behavior. There are many safeguards and unique features to Sircles which allow it to stand out and capture a network effect. Sircles provides a frictionless way to store (favorite) places, movies, books, etc. which are then immediately visible (shared) to friends and followers. We hope for Sircles to be in the hands of over 100 million people around the world, with a valuation exceeding $20B (this cannot be guaranteed). Sircles is a mass market product that fulfills a missing need for everyone - young and old. Given the Company’s limited operating history, the Company cannot reliably estimate how much revenue it will receive in the future, if any.

Perks

Invest $250+ for Access to the invite-only beta.
$500+ 3 year business subscription (access to detailed analytics, coupon creation, profile page management, etc) *can be gifted*
$1,000+ Blue verified checkmark on your Sircles profile
$5,000+ Invite for two (2) to the Sircles launch party *includes airfare*
$10,000+ Receive a Founders badge on your Sircles profile page.
$50,000+ Dinner with the Founders, including Rob Williams of the popular morning show RAD Radio.
$100,000+ Golf at Kapalua Resort in Maui with the Founders, including Rob Williams. *includes airfare and lodging*
Invest $250+ for Access to the invite-only beta.
$500+ 3 year business subscription (access to detailed analytics, coupon creation, profile page management, etc) *can be gifted*
$1,000+ Blue verified checkmark on your Sircles profile
$5,000+ Invite for two (2) to the Sircles launch party *includes airfare*
$10,000+ Receive a Founders badge on your Sircles profile page.
$50,000+ Dinner with the Founders, including Rob Williams of the popular morning show RAD Radio.
$100,000+ Golf at Kapalua Resort in Maui with the Founders, including Rob Williams. *includes airfare and lodging*

Key Deal Facts

Top competitor to Yelp and disrupter of online review platforms.
Amazon AWS Activate, $100,000 recipient.
Sircles to mark the Founders' 3rd consecutive, successful multi-million $ business.
Maxed out beta-tester program at 3,000 in a matter of days.
30 day retention maintained at 80% for 8 consecutive months.
On the forefront of ESG values and a socially responsible investment.
#1 Trending App on Kickstarter on launch day.
All about positivity!

Use of Proceeds

$100,000

  • 60% towards product development
  • 32.5% towards influencer, grassroots, and social media marketing
  • 7.5% Wefunder fees.

$1,070,000

  • 32.5% towards research & product development, including the addition of a DevOps engineer and QA team.
  • 20% towards a user reward program, influencer and grassroots marketing.
  • 20% to legal, professional, executive & administrative costs. 20% towards business development.
  • 7.5% towards Wefunder fees.

Management Team / Advisory Board Bios

John Worthington
Co-Founder, CEO
Founded and scaled Tech 2U to nearly $10M in ARR. Built a highly qualified and loyal team of executives. Tech 2U provides computer repair, managed services, web development and digital marketing to the Sacramento, San Diego, and Las Vegas markets.

Todd Fiore
Co-Founder, CIO
Co-Founder of Tech 2U. Established the technical systems and infrastructure to scale Tech 2U to nearly 100 employees. Created the culture at Tech 2U that makes it the most beloved tech company in Sacramento for IT professionals and customers.

Danny Hinkle
Co-Founder, COO
Early employee at Tech 2U, VP of Digital Marketing. Generated millions in revenue. Formed key strategic partnerships with celebrity influencers that were critical to scaling Tech 2U and have proven extremely beneficial to Sircles.

Paul Buendia
Co-Founder, CTO
Seasoned technology professional with over 20 years of experience designing and delivering web based and mobile applications in Health Care, Sales/Inventory, and Interdepartmental Efficiencies.

Deal Notes

Discount: 10%

Amount Raised : $1,920,224
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Valuation

Security Description

A CAFES (Contract and Future Equity Stake) can convert into different types of equity upon a Triggering Event, such as: common or preferred stock for a corporation, limited partnership interest for a limited partnership and membership interest for a limited liability company. At the time of the Triggering Event, the specific rights and limitations associated with the equity stake being issued to the investors will be determined and disclosed by the Entrepreneur.

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