Do dealers pay a monthly fee or only when the someone buys a car?

Hi Stewart - Thank you for the question! The revenue model is a monthly recurring subscription (MRR) . In early times/markets, we also use transaction-based fees to generate revenue, allowing us speed to market and revenue. As we grow, we believe that a Freemium or Free Trial model will be our likely customer journey that leads to MRR subscriptions, but that hasn't been proven yet in the market.

I love this concept, and completely understand the pain points. Car buying is one of the most horrible experiences, and the current sales model is ripe for disruption. I do have some reservations about the makeup of the team, which directly correlates to a company's ability to...

Hi David! Thank you for your interest and questions. I have an amazing group of informal advisors including a number of auto-industry insiders, dealership leaders & operations people, car sales professionals, and those that train them. I am currently actively seeking a formal "Automotive Heavyweight" Advisor and have several prospects I'm in discussions with. Finding an advisor with the time, experience, and values aligned with CarLocity is highly important to me. This will happen over th...

Hi. What are your revenue goals for the next 5 years?

Hi Leonardo - Thank you for the question! Forecasting for early-stage startups is incredibly difficult, so please forgive our disclaimer here: These are projections based on current information and can change, since they are based on rough financial modeling and are based on assumptions of scaling from ending year 1 with 50 dealers at an average of $1k/mo to ending year 5 with 2,000 dealers at an average MRR of ~$4k. These are also 12-month periods following initial funding, and not calendar ...

Interested in the company and the idea here, and I definitely agree with it. I'm curious as to the companies competitive advantage here. What's proprietary about the company, or better question is what's stopping any of the large current players whether public companies or pri...

Hi Michael - Thank you for your engagement, interest, and your question! The immediate and direct answer is - today, there is nothing proprietary about CarLocity other than our process and sincere mission to materially transform the Dealer-based shopping and buying experience. Post-investment, our #1 goal is to establish the client base in our pilot market(s) and our #2 goal is to work on developing our IP and proprietary technology that will eventually drive the full purchase experience for ...

Will the convertible note convert into common or preferred LLC units?

Hi Lucas - thanks for checking us out and asking! Following the closing of this round, we will be converting the AZ LLC into a C-corp (most likely Delaware) and the convertible note will transfer to the new entity carrying all of the same terms our Wefunder investors are offered in this campaign. At our first priced round, the note will convert into Preferred shares of the C-corp.

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