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Security Type
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Crowd Note
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Categories
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Other
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Min Investment
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$500
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Offering Date
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April 18, 2019
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Expected Close Date
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July 17, 2019
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Target Raise
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$455.00K-$850.00K
Company Description
Personalized recommendations from like-minded people
Perks
see offering website for details
Key Deal Facts
300K registered users generating 4.4 million screen views per month. 200K users added since mobile app launch in May 2018.
4,800 daily-active-users and 47,000 monthly-active-users in February, up over 45% month-over-month.
Match algorithm is 2.5x more accurate than generic rating systems (based on management estimate). Over 400 data points per user.
Of users that have linked Facebook, 30% have friends on the platform.
1,700 paid premium subscribers as of January. Acquisition cost for paid subscribers (6-month average) down 20% month-over-month, bringing lifetime value of paid subscribers to customer acquisition cost of paid subscribers ratio to 1.43.
Use of Proceeds
G&A, Non-Technology, Technology, Marketing/Biz Dev
Management Team / Advisory Board Bios
John Lin
Founder, CEO
University of WashingtonAs the Head of Digital at Square Tomato, John managed brands including Xbox, Starbucks, Corbis, and Essentia Water. During that time, he ran acquisition campaigns and oversaw analytics for CRM programs that covered over 10MM customers. John also consulted for a long list of tech startups, including Drawbridge Networks, Cue, LINK3D, and YooTalent.
Justin Messina
Founder, CTO
University of OregonAs the Head of Technology at Square Tomato, Justin managed the tech team and designed CRM automation processes for brands such as Starbucks and Corbis. As a fullstack developer and consultant, he designed and built a wide range of tech, including UGC-ready databases, merchant portals, e-commerce management, and social media platforms.
Reveal the Score by Voting
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Additional ratings from other users are needed to determine a viable CrowdScore for this deal.
The "CrowdScore" for this deal is determined by user ratings and other factors using our proprietary algorithm.
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The overall viability and scalability of the business concept as well as the ability to drive the concept to profitability over time.
Business Idea
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The progress made thus far in demonstrating that the business has viability, a customer base or other business traction.
Business Traction
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The experience of the management team in running, scaling and/or exiting a business that required similar skills to execute the business plan.
Management Team
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The value of the company compared to similar companies raising money from investors.
Valuation
Security Description
A Crowd Note modifies the typical convertible note so that the crowd does not automatically convert to equity shareholders on the next financing and remain off the issuer’s capitalization table, but the crowd will still participate in any exit as if they had converted to equity. If there is no future financing, the holders of the Crowd Note still have upside, but could miss out significantly.
