Carlocity

Carlocity

Anonymous car shopping - making car shopping easy & reducing discrimination!

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View on Wefunder
Security Type
Convertible Note
Categories
Automotive
Min Investment
$100
Location
Surprise, AZ
Offering Date
March 11, 2021
Expected Close Date
April 30, 2022
Target Raise
$75.00K-$250.00K
Deal Notes

Price Per Share: $1.00

Valuation
$5,000,000

Company Description

CarLocity is an anonymous car shopping platform that provides car shoppers with a secure way to shop their local dealerships for cars without being subjected to discrimination in the shopping/pricing process and without being harassed or their phone getting "blown up."  Dealers receive qualified, specific orders for vehicles (we call them "deal requests") and provide written deals back with line-item pricing - selling price, tax, licensing, doc prep, dealer fees etc... in a transparent offer sheet (we call them "deal sheets").  Buyers then either reply "interested" and CarLocity will coordinate a test drive, or "reject" and CarLocity will send them a survey to help us and the dealer perform better over time.

Key Deal Facts

Zero to paying customer ($1k MRR) in <90 days, 5 more in trials. Only about 17k more to go!
CarLocity's anonymous platform prevents discrimination in the car purchasing process.
$1.01 Trillion market ripe for disruption with both car shoppers and dealerships ready for change.
Car Buyers prefer CarLocity's experience by 47% over car shopping websites!
Car Buyers prefer CarLocity's experience by 72% over online-only dealers!
CarLocity's Deal Shopper (intake page) converts >20%!

Use of Proceeds

$75,000

  • 40% towards sales/customer success (customer acquisition & retention), 27% to Marketing (Ad spend & Brand building), 18% to Technology (Development & Support) , 7.5% towards Wefunder fees, 7.5% to data, design, and support services (legal, accounting, HR, contract services).

$250,000

  • 32.5% towards sales/customer success (customer acquisition & retention), 27% to Marketing (Ad spend & Brand building), 25% to Technology (Development & Support) , 7.5% towards Wefunder fees, 8% to data, design, and support services (legal, accounting, HR, contract services). 

Management Team / Advisory Board Bios

Peter Difilippantonio, Founder & CEO
U.S. Navy Veteran, then the startup world for 20 years. A Founding member of one of the fastest growing companies of the 2000s (3x Inc 500!). Seasoned startup leader with GSD attitude and motivation. Positive, solution-minded, optimistic realist!

Dave Moylan, Advisor
Former COO of LexisNexis. Current CEO of Dataram. Expertise in Operations, Finance, and M&A

Jason Gunn, Advisor
Startup veteran with recent successful exit. Expertise in Marketing, Data

Deal Notes

Price Per Share: $1.00

Amount Raised : $0
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Security Description

A convertible security is a security that can be converted into another security, typically equity in the next round of financing.

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