April 09, 2022
Expected Close Date
July 01, 2022
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ProblemIn 2020, 2 million Americans tried gig work for the first time, and we believe most of them were under-compensated for the job they accomplished. In the last six years, the gig economy has doubled in size to over 1.1 billion gig workers worldwide and 55 million in the US. We believe Wage has a unique advantage of being a horizontal marketplace (for all gig types) rather than a vertical one. With this strategy, Wage can become an on-ramp for individuals to experience the gig economy by using their chosen skillset to get paid appropriately, rather than paid at a set rate, like from a vertical platform. OpportunityLocal communities and small businesses are experiencing the impacts of the labor shortage, supply-chain problems, and limited infrastructures. And the Covid-19 pandemic has amplified these problems. The gig economy creates an opportunity for people and small businesses to engage with independent freelancers or solopreneurs for short-term or long-term arrangements. Five of the most commonly used categories include Home Services, Personal Services, Computer Services, Event & Entertainment (Photo & Videography), and General Labor (including landscaping/yard-work).SolutionWage is a community-driven peer-to-peer marketplace, eliminating many of the existing layers between supply and demand. Wage is a gigs-and-services app with transaction transparency, and no intermediary is taking a cut of pay. What the worker charges for the work, they actually receive when the work is complete. With Wage, both supply and demand sides can interact with one another, facilitating direct communication between both parties and allowing them to determine fair rates and times for specific tasks. Unlike apps like Lyft (only transportation) or DoorDash (only delivery), Wage allows for varied tasks and transaction transparency.Learn more: Linktr.ee/WageApp
Perks for Early Investors:
Early Investor Tier 1: All investors who invest $1,500 or more by Friday, May 6th at 11:59 pm ETwill receive 1 free service worth up to $100. Investors will also receive automatic entry into the Chicago Vacation Package Drawing. Two investors will be selected in a random drawing to win a 2-night stay in Chicago, participate in a Wage team meeting, and attend the Wage celebration dinner with CEO Marcin Zgola.
Early Investor Tier 2: Investors who invest $5,000 - $9,999 by Friday, May 6th at 11:59 pm ET will receive 1 free service worth up to $100 per month for the first year of their membership.
Early Investor Tier 3: Investors who invest $10,000 or more by Friday, May 6th at 11:59 pm ET will receive 1 free service worth up to $200 per month, for the first year of their membership.
Perks for All Investors:
Tier 1: Investors who invest $5,000 or more will receive perks plus a "Yeti Rambler Mug" with Wage logo, and get to participate in an annual group investor call with the CEO, and gain access to our latest app development and participation in the beta.
Tier 2: Investors who invest $10,000 or more will receive Tier 1 perks plus participation in a yearly group video chat session with the CEO and a Lucite stock certificate display showing the number of shares owned and the Wage Development logo.
Tier 3: Investors who invest $20,000 or more will receive Tier 2 and Tier 1 perks plus participation in a yearly one-on-one video chat session with the CEO and are invited to attend a group leadership dinner in Chicago.
Tier 4: Investors who invest $50,000 or more will receive Tier 3, Tier 2, and Tier 1 perks plus participation in a quarterly group investor call with the CEO and are invited to a one-time private meeting with the CEO.
Tier 5: Investors who invest $100,000 or more will receive Tier 4, Tier 3, Tier 2, and Tier 1 perks plus participation in a one-on-one video chat session with the CEO and are invited to an annual private leadership dinner in Chicago and quarterly private meetings with the CEO.
It is advised that you consult a tax professional to fully understand any potential tax implications of receiving investor perks before making an investment.
Please note that due to share price calculations, some final investment amounts may be rounded down to the nearest whole share - these will still qualify for the designated perk tier. Additionally, investors must complete the online process and receive an initial email confirmation by the deadline stated above in order to be eligible for perks.
Key Deal Facts
Raised funding from Venture Capital and Angels, including 8VC, OVO FUND, Correlation VC, and the CEO of WISH Inc, Peter Szulczewski
With the rise of gigs & services apps, Wage App user base grew to over 110,000 in 2021, representing a 31% increase year-over-year compared to 2020
Partnership with DoorDash for API implementation and affiliate marketing, aimed to provide a supply of drivers to Doordash in different geo-locations throughout North America
Created an educational tool to demonstrate how the global pandemic has transformed the gig economy, which has been chosen by NowSourcing as the #1 Infographic of 2021 (www.wagedev.com/how-the-global-pandemic-transformed-the-gig-economy)
Founder and CEO has 10 years experience in technology and since starting Wage Development, and his app has been featured in Business Insider, Chicago Chronicle, Forbes, PCMagazine, Yahoo! Finance, and more
Management Team / Advisory Board Bios