{"data":{"type":"company_profile","id":141597,"entity_id":"wefunder:company:141597","attributes":{"canonical_url":"https://wefunder.com/floqsta","generated_at":"2026-06-20T10:45:19Z","updated_at":"2026-06-20T05:01:15Z","entity_ids":{"company":"wefunder:company:141597","slug":"wefunder:company_slug:floqsta"},"profile_visibility":{"owner_published":true,"public_search_results":true,"site_search_listed":true,"privacy_mode":"promote","invite_only":false},"provenance":{"source":"wefunder_public_company_profile","as_of":"2026-06-20T10:45:19Z","claims":{"total_amount_raised":{"source":"FrontCompanySummary#amount_raised","last_verified_at":"2026-06-20T05:01:15Z","as_of":"2026-06-20T10:45:19Z","confidence":"high"},"total_investors":{"source":"FrontCompanySummary#number_of_investors","last_verified_at":"2026-06-20T05:01:15Z","as_of":"2026-06-20T10:45:19Z","confidence":"high"},"active_raise_states":{"source":"Fundraise.visible(nil, nil)","last_verified_at":"2025-03-05T15:42:42Z","as_of":"2026-06-20T10:45:19Z","confidence":"high"},"latest_fundraise_state":{"source":"Fundraise.visible(nil, nil).order(funding_started_at)","last_verified_at":"2025-03-05T15:42:42Z","as_of":"2026-06-20T10:45:19Z","confidence":"medium"}}},"company":{"id":141597,"entity_id":"wefunder:company:141597","slug":"floqsta","name":"Floqsta","tagline":"Social travel platform connecting like-minded people with Artificial Intelligence","story":"Young people view travel as a lifestyle but lack companions for frequent travelYoung people prioritize travel. Over 70% defining leisure travel as very important to their lifestyle and placing it at the pinnacle of their budget priorities.Adult Gen Z and young millennials travel 28-35 days per year. Millennials are willing to spend $5,000 on a vacation, whilst an adult Gen Zers have a daily budget of $100 during their leisure trips, bringing their annual travel spend to $3,000-$4,000.These young generations are traveling more than Gen Xers and baby boomers, and they are rapidly becoming the focus of the travel industry.“Gen Zs aren’t easing into the travel market — they are exploding into it” (CNBC).However, often young people don’t have enough friends with similar interests to take that dream trip or to enjoy frequent travel:55% say they would not travel alone, 40% have recently canceled a trip due to lack of companions.60% would travel more often if they had companions, aiming at extra 2.5 trips per year.55% are keen to make new friends or meet a date through traveling.There is a bigger problem behind these numbers and trends – loneliness. \u0026nbsp;Rising social travel wave is addressing the underlying issue of lonelinessThe travel industry has the opportunity to act as a matchmaker. Skift, a prominent travel news provider known for its focus on the future of travel, has identified 'How travel can fix the world's loneliness crisis' as one of the major travel megatrends for 2024.\u0026nbsp;In the years ahead, AI will supercharge traveler connections, said Gary Morrison, the CEO of Hostelworld. Using deep learning, AI can potentially recommend to users the travelers they will have the most fun to hang out with or activities they will enjoy based on their trip dates, the destination choice and activity interests.Young generations, being digitally and travel native, seek inspiration and companions online – with 90% indicating that their travel plans and ideas are influenced by social media. “40% don’t have destination or dates when search but seek connections to physical communities and experiences” Airbnb data, 2021.However, young travelers also recognize the importance of compatibility when traveling with strangers – 70% consider personality, travel style, and interests critical for an enjoyable trip. Our survey of 3,000 target consumers found a significant overlap between social travel and online dating markets. We found strong evidence of a willingness to travel with online friends: 55% are eager to meet new friends online to travel together, and 50% consider it a great way to meet new friends or a date. \u0026nbsp;People are searching for like-minded travel companions online. Young, digitally native consumers demand an effective app solution, similar to online dating, to meet this need. Floqsta platform connects like-minded people and enables them to travel togetherFloqsta's unique approach is to match people for travel proactively and intelligently using AI-enabled social matching algorithms:Connecting like-minded travelers into socially compatible groups ready to travel Creating trips collaboratively from curated contextual travel recommendationsApp is fun to use, promotes collaborative planning and motivates users to travelWe have created a unique concept called a floq — a group of socially compatible and like-minded travelers matched with a travel opportunity. The platform creates floqs dynamically, intelligently and proactivelyUsers can review floqs, recommended travel companions and travel options, get to know each other, and collaborate on planning their unique travel adventure together.Swipe right to join a floq and travel together!Very enthusiastic feedback from early usersFloqsta got an overwhelmingly positive response to the app launch. Floqsta has 4.5-star rating on AppStore, with users sharing positive experiences and praising the groundbreaking nature of the Floqsta concept: 'revolutionary', 'best social travel app', 'unique', 'super cool idea', and 'I am in love with it!'.'With Floqsta, I can find not just friends, but lifelong connections!' resonates so well\u0026nbsp;with our mission of creating human connections through travel. 'It’s already giving me loads of happiness!' 'Before I found this app, I struggled to meet others who were traveling to the same place at the same time as me, and it was even harder to find people who were also interested in the same things. Floqsta solves those problems.' 'This is a must-have for travelers and adventure seekers alike!'Floqsta uniqueness stems from proprietary AI-enabled social matching algorithms The heart of Floqsta is its matching algorithms. We collaborate with behavioral science experts to enhance the algorithms, which are powered by Machine Learning.\u0026nbsp;Over 100 explicit data points on users' interests and preferences, enhanced with NLP-enabled insights from platform interactions and trip learnings, are utilized to create harmonious groups. With integration of Generative AI, our vibrant bot Floxy engages users and groups in fun and gamified ways, enabling collaboration and development of trust, while planning trips.Safety commitmentFloqsta has a steadfast commitment to safety from inception, with robust features already in place to promote positive travel experiences. As we innovate, our focus remains on enhancing these capabilities, dedicating ourselves to the community's well-being. Upholding a culture of respect is paramount, and we actively foster an environment for kind and considerate interactions.First mover into a white space at the intersection of travel and matchmakingFloqsta is unique. We saw an opportunity and a white space at the crossroads of travel industry, dating and social platforms.With significant and growing demand for social travel, there are many options for travelers to search through networks for companions or to join group trips. What makes Floqsta different is its ability to create compatible traveling groups and to make these recommendations proactively, akin to dating apps.Dynamically forming harmonious social travel groups offers users both choice and convenience, while also fostering network effects.Digital commerce and marketplaces for global travel industry are vast and growingTAM: Young consumers in global markets spend $1 trillion on travel experiences generating over $120 billion in online retail commissions and digital advertising.SAM: We see an addressable market of $30 billion from 200 million adult Gen Z and young millennials.SOM: With first mover advantage Floqsta targets 20 million users on the platform, 10% of SAM volumes, generating $1 billion in revenues by 2030.\u0026nbsp;How we monetize: commissions and advertising from travel eco-systemFloqsta's monetization model is based on (1) commissions from booking trips, tours, and activities; (2) digital advertising from the travel ecosystem; and (3) subscriptions for value-added user features. Diversified high-margin revenue streams enable scalability and flexibility as the company grows and evolves.Floqsta assembles young enthusiastic groups ready for travel adventures. We present them with travel recommendations, contextually and early on. That brings value to our travel partners. Floqsta is poised to generate trips and revenue during the next phaseValidated demand via target consumer surveys and actual results from the app launch.Received positive user feedback, concept's acceptance, and an input for the MVP plan.Formed travel partnerships and gathered early data on unit economics as a foundation for financial forecasts.Created AI hypotheses, models, and original ML algorithms.Developed a 'catching the fire' consumer acquisition and engagement approach.Our team is a great fit to the opportunity with decades of experience in travel, technology, AI and social media Together we have over 100 years of key experience areas – travel, technology, AI, social media and marketing.\u0026nbsp;We have done starts ups, built companies, scaled revenue, and led teams. We are a diverse, passionate, experienced team committed to our mission!\u0026nbsp;","location":"Boston, MA","website":"https://www.floqsta.com/","total_amount_raised":71100,"total_investors":54,"is_funded":true,"is_active":true,"quality_score":3,"related_urls":["https://wefunder.com/floqsta","https://www.floqsta.com/"]},"media":{"share_image_url":"https://uploads.wefunder.com/uploads/company/header_media_photo/141597/xxl_blob.jpg","logo_url":"https://uploads.wefunder.com/uploads/company/logo/141597/large_blob.png","header_media_url":"https://uploads.wefunder.com/uploads/company/header_media_photo/141597/standard_blob.jpg","cover_photo_url":"https://uploads.wefunder.com/uploads/company/header_media_photo/141597/standard_blob.jpg"},"links":{"company_url":"https://www.floqsta.com/","linkedin_url":"https://linkedin.com/company/floqsta/","facebook_url":"https://facebook.com/Floqsta","instagram_url":"https://instagram.com/floqsta/","tiktok_url":"https://tiktok.com/@floqsta","blog_url":"https://www.floqsta.com/blog/blog-home"},"highlights":[{"id":62736,"name":"notable_angel","url":"notableangel","presentable_name":"Notable Angel","description":"Raised $25k or more from a notable angel investor","image_url":"https://uploads.wefunder.com/2021/profile-highlights-check.svg"}],"quick_facts":[{"index":1,"claim_id":"claim-fact-1","value":"Highly scalable business model: forecasting 20 million users and $1 billion annual revenue by 2030"},{"index":2,"claim_id":"claim-fact-2","value":"200 million young people prioritize travel, but 1 in 4 trips are cancelled for lack of companions"},{"index":3,"claim_id":"claim-fact-3","value":"Our IP is unique proprietary AI-algorithms matching like-minded travelers into harmonious groups"},{"index":4,"claim_id":"claim-fact-4","value":"Users love the App, call it a “revolutionary for solo travelers” and “best social travel concept”"},{"index":5,"claim_id":"claim-fact-5","value":"First mover into a white space at the intersection of travel \u0026amp; matchmaking, elevating social travel"},{"index":6,"claim_id":"claim-fact-6","value":"Tapping into $1 trillion leisure travel market for Gen Z and young millennials - vibrant and growing"},{"index":7,"claim_id":"claim-fact-7","value":"Strong diverse founding team with decades of experience in travel, technology, AI, and social media"},{"index":8,"claim_id":"claim-fact-8","value":"Backed by travel industry executives with $700,000 pre-seed round"}],"team":[{"id":3840177,"entity_id":"wefunder:company_role:3840177","user_entity_id":"wefunder:user:4137197","role":"founder","name":"Dasha Kuksenko","title":"Co-founder and CEO","bio":"Visionary leader within Travel, Aviation and Travel Tech industries, with excellent execution skills and a record of delivering significant growth \u0026amp; international expansion. 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Innovative technologies, structured \u0026amp; unstructured data, data science, AI/ML, architecture.","avatar_url":"https://uploads.wefunder.com/uploads/company_role/custom_photo/4147237/square_blob.jpg?1704313343","linkedin_url":"https://linkedin.com/in/alan-walker-9385353/","related_urls":[]},{"id":4165172,"entity_id":"wefunder:company_role:4165172","role":"founder","name":"Gordon Locke","title":"Co-founder and Marketing Guru","bio":"An award-winning marketer in consumer brand \u0026amp; content marketing across technology, travel, financial, hospitality, and health/wellness verticals. Behavioral research and brand activation work with Gen Z and Millennial segments for travel brands.","avatar_url":"https://uploads.wefunder.com/uploads/company_role/custom_photo/4165172/square_blob.jpg?1706064537","linkedin_url":"https://linkedin.com/in/gordonpricelocke/","related_urls":[]},{"id":4057935,"entity_id":"wefunder:company_role:4057935","user_entity_id":"wefunder:user:1204145","role":"employee","name":"Laura Kiernan","title":"Fractional CFO and Board Director","bio":"30+ years of experience crafting transformative investor relations and corporate strategies. Expertise in early-stage fundraising, crowdfunding, activist investor campaigns, new issuances for complex securities. 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Expertise in developing product roadmaps, leading development teams, consumer acquisition and conversion, community engagement, AB tests and product hypotheses.","avatar_url":"https://uploads.wefunder.com/uploads/company_role/custom_photo/3919895/square_blob.jpg?1706065273","linkedin_url":"https://linkedin.com/in/valuisky/","related_urls":[]}],"featured_investors":[{"id":7977,"entity_id":"wefunder:company_investor_profile:7977","investor_profile_id":3714278,"investor_profile_entity_id":"wefunder:investor_profile:3714278","subject_entity_id":"wefunder:user:4225809","name":"Hugh W. Jones","role_title":"","bio":"Travel industry veteran of 29 years, Mr. Jones was CEO/President of Travelocity among other execute roles, and serves on Boards of Travelport, Groupsize, GoGo. Operating experience in public markets, private equity, and venture capital/angel environments","avatar_url":"https://wefunder.com/rails/active_storage/blobs/redirect/eyJfcmFpbHMiOnsiZGF0YSI6NzMwMTUsInB1ciI6ImJsb2JfaWQifX0=--acfdb87629e7ce655bcc43c9d448abc663501683/filename","profile_url":"https://wefunder.com/hugh.w.jones","endorsement_quote":"I invested in Floqsta as they are approaching travel in a unique way – leveraging social and AI technologies to create engagement, travel inspiration and ultimately travelling companions. Given my background leading Travelocity, I am familiar with the equation of customer value, acquisition, and retention. Creating inspiration at an early stage in travel planning should lower customer acquisition cost and expand opportunities to monetize through advertising, commissions, and premium features. I have known Dasha for 15 years and have worked with several team members. She is a smart, experienced business leader who possesses the drive to overcome the challenges inherent in an early-stage company. She has assembled a high-quality team with backgrounds in travel, technology and social media.","endorsement_name":"","investment_total":50000,"investment_info":"Invested $50,000 this round","is_lead_investor":true,"memo_paid_for_by_company":false,"related_urls":["https://wefunder.com/hugh.w.jones"]},{"id":8347,"entity_id":"wefunder:company_investor_profile:8347","investor_profile_id":3795047,"investor_profile_entity_id":"wefunder:investor_profile:3795047","subject_entity_id":"wefunder:notable_investor:11816","name":"Aditya Gosh","role_title":"","bio":"Travel industry veteran, Co-Founder \u0026amp; Board Director of Akasa Air, former CEO \u0026amp; Board Member of IndiGo Airlines, Board Director of Fabindia, India’s largest retail platform; Board Director \u0026amp; former CEO of OYO, Founder Homage, Investor, Philanthropist","avatar_url":"https://wefunder.com/rails/active_storage/blobs/redirect/eyJfcmFpbHMiOnsiZGF0YSI6ODI5NjcsInB1ciI6ImJsb2JfaWQifX0=--1d638af29c29c7e549e9b42cfc856c0dfef9a1df/filename","profile_url":"https://wefunder.com/aditya.gosh","endorsement_quote":"My investment in Floqsta was driven by its innovative solution to the fundamental need for connection between people and its approach to combat loneliness through travel. Utilizing AI and social networks, Floqsta connects travelers with shared interests, paving the way for more inclusive and diverse travel experiences. Floqsta’s deliberate focus on fostering inclusive travel and relationships addresses important societal values, making travel more accessible and enriching for everyone. I see potential for this network to grow internationally, into large markets like India, where young people are keen to explore the world, enjoy travel adventures, and make friendship beyond their immediate circle.","endorsement_name":"","is_lead_investor":false,"memo_paid_for_by_company":false,"related_urls":["https://wefunder.com/aditya.gosh"]},{"id":9097,"entity_id":"wefunder:company_investor_profile:9097","investor_profile_id":3871941,"investor_profile_entity_id":"wefunder:investor_profile:3871941","subject_entity_id":"wefunder:notable_investor:12601","name":"Jan Simon","role_title":"","bio":"Co-Founder \u0026amp; Managing Partner of Vonzeo Capital Partners, Search Fund Investors. Professor at IESE Business School, Berkeley and Cambridge. Angel Investor","avatar_url":"https://wefunder.com/rails/active_storage/blobs/redirect/eyJfcmFpbHMiOnsiZGF0YSI6MTMxOTM0LCJwdXIiOiJibG9iX2lkIn19--603055648a62a1dec8b3976250b0d545999ca819/filename","profile_url":"https://wefunder.com/jan.simon","endorsement_quote":"Floqsta offers a unique value proposition -connecting likeminded people in search of shared travel experiences-, for a large addressable market. In addition, Floqsta is propelled by an amazing team under a visionary leader, Dasha, and supported by the latest findings in behavioural psychology and applications in AI. I am very excited about this investment which will support many travelers in creating long-lasting friendships","endorsement_name":"","is_lead_investor":false,"memo_paid_for_by_company":false,"related_urls":["https://wefunder.com/jan.simon"]},{"id":8296,"entity_id":"wefunder:company_investor_profile:8296","investor_profile_id":3793381,"investor_profile_entity_id":"wefunder:investor_profile:3793381","subject_entity_id":"wefunder:notable_investor:11769","name":"Stephen M. Clampett","role_title":"","bio":"Senior Airline \u0026amp; Travel Technology Executive. Led $450M P\u0026amp;L global business within Sabre Holdings, Inc. Operating Advisor at Liberty Hall Capital Partners, aerospace \u0026amp; defence industry private equity firm. Board member and advisor to travel tech startups.","avatar_url":"https://wefunder.com/rails/active_storage/blobs/redirect/eyJfcmFpbHMiOnsiZGF0YSI6ODE4NjEsInB1ciI6ImJsb2JfaWQifX0=--aa4e24ef49c9d7818cbce958dbd35a0e86f1ef89/filename","profile_url":"https://wefunder.com/stephen.m.clampett.1","endorsement_quote":"I invested in Floqsta first and foremost because of a founder and CEO Dasha Kuksenko. No matter how great an idea is for a new business, it will not come to fruition without the passion and vision of a dynamic leader. I have known Dasha for many years, and she is a highly intelligent and motivated business leader with a long track record of success, who is universally respected by her customers and colleagues. Floqsta has all the ingredients for a successful startup. Dasha’s vision for Floqsta is based on the straightforward premise that there is a very large market of people that love to travel and want to travel with like-minded individuals. She has validated this premise through extensive market research and anecdotally through many conversations with people across her vast network. To execute her vision for Floqsta, Dasha has put together a very solid business plan and associated product plan and assembled a world-class team.","endorsement_name":"","is_lead_investor":false,"memo_paid_for_by_company":false,"related_urls":["https://wefunder.com/stephen.m.clampett.1"]},{"id":7843,"entity_id":"wefunder:company_investor_profile:7843","investor_profile_id":3708607,"investor_profile_entity_id":"wefunder:investor_profile:3708607","subject_entity_id":"wefunder:notable_investor:11324","name":"Bart Bybee","role_title":"","bio":"Mr. Bybee offers travel industry expertise from extensive career in commercial and corporate development roles at Sabre and American Airlines, complemented savvy investment and startup insights. Presently a CFO at Healing Hands Healthcare, LLC.","avatar_url":"https://wefunder.com/rails/active_storage/blobs/redirect/eyJfcmFpbHMiOnsiZGF0YSI6NzMxNDcsInB1ciI6ImJsb2JfaWQifX0=--a6b153e92166afdc30e806fb2129c0abff60bf64/filename","profile_url":"https://wefunder.com/bart.bybee","endorsement_quote":"I invested in Floqsta because I believe it addresses a large market segment via a unique combination of AI and social networking. Market testing has shown significant enthusiasm for the concept and I believe that Dasha has put together a team that will deliver a compelling product. I've worked with and known Dasha for over 15 years. She's very intelligent, very motivated, and has the tenacity to bring this to fruition.","endorsement_name":"","is_lead_investor":false,"memo_paid_for_by_company":false,"related_urls":["https://wefunder.com/bart.bybee"]},{"id":7881,"entity_id":"wefunder:company_investor_profile:7881","investor_profile_id":3710167,"investor_profile_entity_id":"wefunder:investor_profile:3710167","subject_entity_id":"wefunder:notable_investor:11364","name":"Andrew J. Powell","role_title":"","bio":"Leadership and general management of organizations associated with enterprise and travel software. SAP, Oracle, Asia Pacific and Japan. Member of the Institute of Chartered Accountants in Australia. AWS, Rimini Street, NTT DATA, Sabre.","avatar_url":"https://wefunder.com/rails/active_storage/blobs/redirect/eyJfcmFpbHMiOnsiZGF0YSI6NzMxNDgsInB1ciI6ImJsb2JfaWQifX0=--d2549bf869836b3403983d1eb48d75434c9130da/filename","profile_url":"https://wefunder.com/andrew.j.powell","endorsement_quote":"Floqsta uniquely addresses a real, and significant, customer need. Furthermore, I have a high level of confidence and trust in Dasha, who I have known since 2006. Dasha’s deep industry and IT experience strongly positions Floqsta for success.","endorsement_name":"","is_lead_investor":false,"memo_paid_for_by_company":false,"related_urls":["https://wefunder.com/andrew.j.powell"]}],"investor_memos":[],"tab_counts":{"posts":1,"ask_questions":8,"featured_investors":6,"faq_entries":5},"active_fundraises":[{"id":95015,"entity_id":"wefunder:fundraise:95015","state":"successful","offering_type":"4(a)(6)","funding_type":"note","structure":"safe","security_type":"equity","currency":"USD","testing_the_waters":false,"min_purchase":250,"max_purchase":9,"funding_target":1235000.0,"minimum_target":"50000.0","maximum_target":"1235000.0","funding_started_at":"2024-01-17T17:31:01Z","funding_closed_at":"2025-02-21T05:00:00Z","auto_close_at":"2025-02-21T04:59:59Z"},{"id":95016,"entity_id":"wefunder:fundraise:95016","state":"successful","offering_type":"4(a)(6)","funding_type":"note","structure":"ttw","security_type":"","currency":"USD","testing_the_waters":true,"min_purchase":250,"max_purchase":9,"funding_target":1235000.0,"minimum_target":"50000.0","maximum_target":"1235000.0","funding_started_at":"2023-09-10T11:15:31Z"}],"latest_fundraise":{"id":95015,"entity_id":"wefunder:fundraise:95015","state":"successful","offering_type":"4(a)(6)","structure":"safe","testing_the_waters":false,"can_invest_now":false,"funding_started_at":"2024-01-17T17:31:01Z","funding_closed_at":"2025-02-21T05:00:00Z","terms":{"eb":"$8M","nb":"$8.5M","txt":"valuation cap"}},"recent_posts":[{"id":173207,"entity_id":"wefunder:feed_item:173207","type":"FeedItem::Update","visibility":"public","title":"Platform Update","preview":"The rising user volumes we are seeing here at Floqsta provides us with a basis to continue to optimise the platform's intelligent matching algorithms as well as to experiment with new and innovative app features that drive engagement and retention.\u0026nbsp;The AI engine of Floqsta is based on a natural language processing foundation and travel domain language model that has ingested huge volumes of publicly available travel-related content. It is able to establish associations and correlations b...","published_at":"2024-05-03T02:11:48Z","author_name":"Michael Huynh","url":"/feed/173207","canonical_url":"https://wefunder.com/feed/173207"}],"q_and_a":[{"id":327331,"entity_id":"wefunder:comment:327331","question":"Can I get the tax form for claiming the loss?","author_name":"Surya Satyavolu","votes":0,"created_at":"2026-03-10T18:20:31Z","canonical_url":"https://wefunder.com/floqsta#question-327331","answers":[]},{"id":296578,"entity_id":"wefunder:comment:296578","question":"Dasha, thanks for the detailed responses and updates. A couple of follow-up questions: Does your data show whether users typically return to Floqsta after their first travel experience, or is it more of a one-time use platform? Also, with male and female users, do you see alignment in their willingness to meet and travel with members of the other gender, or are there notable differences in how each group engages with the platform?","author_name":"Zac Stahlhut","votes":0,"created_at":"2024-11-20T17:54:59Z","canonical_url":"https://wefunder.com/floqsta#question-296578","answers":[{"id":296956,"entity_id":"wefunder:comment:296956","answer":"Hi Zac - the goal is to have users returning, interacting and travelling together. So not one-time use platform. We have data and analysis of user retention, patterns of return, frequency and so on. It it is an important goal to continuously improve retention. Regarding gender preferences - mostly users are very open to travel with different gender (and many prefer it that way although as stated below it requires focus on safety aspects). We also have a feature to activate \"women-only\" groups on the roadmap, and any other \"only\" groups that we feel there is a demand for. Given we already create groups based on interests and like-mindedness it is relatively easy to add and experiment with specific gender or preferences groups. In terms of how different genders engage - we have some nuances between male and female but overall preferences and engagement styles are similar. Female users have more considerations towards safety.","author_name":"Dasha Kuksenko","votes":0,"created_at":"2024-11-26T11:03:53Z"}]},{"id":296115,"entity_id":"wefunder:comment:296115","question":"Hi Dasha, I’m Zac Stahlhut with D3VC, a venture fund specializing in equity crowdfunding investments. We would appreciate some insights into your strategy, particularly in the competitive landscape of group travel and social networking. Given the high potential user acquisition costs in this space, how are you approaching affordability for users, and what steps do you take to ensure they have a positive experience on the platform? Regarding your matching algorithm, could you elaborate on the data sources it draws from—for example, do you use inputs from social media like Instagram, or is there another method of gathering information? We’re also curious about the safety and privacy measures in place—what precautions are taken to safeguard user data, and how do you differentiate your platform’s matching approach from those of more established competitors with similar algorithms? Thanks!","author_name":"Zac Stahlhut","votes":0,"created_at":"2024-11-12T22:40:30Z","canonical_url":"https://wefunder.com/floqsta#question-296115","answers":[{"id":296139,"entity_id":"wefunder:comment:296139","answer":"Hi Zac - thank you for your questions. They are all big topics so if you want we can schedule a call to dive into it. But here are condensed answers: 1. Competitive landscape Floqsta is positioned at the intersection of general social/dating platforms and travel. Social (Facebook, reddit, etc) and dating platform have well established methods of connecting users however none focus on travel, and specifically making travel happen. That is what differentiate Floqsta from that group of competitors. On the other hand we use matching of people for a trip that is not present among travel apps and travel providers. 2. User acquisition costs Our user acquisition cost has been very affordable - $1.6-$2.0 cost of app download translating to $6-$8 cost of acquisition for quality user (with some users dropping off between download and truly joining the platform). We see very strong demand for a product like Floqsta which drives affordable downloads, some of which are organic and some paid ads on social media. We work with influencers and content creators to make our outreach to target customers resonating. 3. Positive experience on the platform We have been continuously seeking users feedback, conducting analysis of users behavior on the platform and introducing new capabilities and travel content, just to mention a few – introducing local trips, adding ChatGPT prompts to facilitate introductions and conversation, added influencer driven content, discussion channels, direct messaging, personality styles and more. This is an ongoing effort but features we launched in the last 6-8 months have showed good improvement in retention and engagement metrics, and we got positive user feedback. 4. Data sources for matching algorithms Users provides us with more than 100 explicit data points (their preferences, past experiences, personality traits, and so on) – which is more than most dating or social apps get. We subsequently augment user data sets based on their interaction with other users, platforms and travel and other choices they make. That is a rich data set that is adequate to for matching logic. 5. Safety measures Safety – especially physical safety during travel – is a very important topic. We have a roadmap of features we have already implemented or planning to implement and I briefly have answered on this subject earlier in this Q\u0026amp;A thread, and happy to dive deeper into it offline. But I think you are asking specifically about data safety from a technical perspective – we host our environment in AWS clous and utilise standard data protection. We will consider more specific protection for highly sensitive data however our data less sensitive than say dating apps.","author_name":"Dasha Kuksenko","votes":0,"created_at":"2024-11-13T06:52:20Z"}]},{"id":289236,"entity_id":"wefunder:comment:289236","question":"Can you share your thoughts on how often you will update us on how things are progressing with your goals and business plan? Secondly, do you intend to file the annual report with the SEC? Thanks for your feedback.","author_name":"Eric L","votes":0,"created_at":"2024-07-31T19:52:09Z","canonical_url":"https://wefunder.com/floqsta#question-289236","answers":[{"id":289267,"entity_id":"wefunder:comment:289267","answer":"Hi Eric - I am sending quarterly investment updates to our existing investors. Annual reports - yes we have already filed certified annual reports for 2021, 2022 and 2023 to SEC as a part of crowdfunding raise process, and will continue that practice going forward.","author_name":"Dasha Kuksenko","votes":0,"created_at":"2024-08-01T01:51:17Z"}]},{"id":284522,"entity_id":"wefunder:comment:284522","question":"Not a question, more of a suggestion. \"We can’t say it enough: we take your safety and privacy seriously.\" - that's from the website, but there is no page on the website expanding on what your processes are to weed out dangerous individuals. Or even how people could report a dangerous individual and what gets done about it. Or how users themselves can possibly rate or view what others are saying about an individual. Dating apps have had several scandals for this very reason. Hope you're able to consider this!","author_name":"Laila E.","votes":0,"created_at":"2024-06-02T05:32:16Z","canonical_url":"https://wefunder.com/floqsta#question-284522","answers":[{"id":285061,"entity_id":"wefunder:comment:285061","answer":"Laila - as per your suggestion we now have consolidated Safety page on our website https://www.floqsta.com/safety-commitment","author_name":"Dasha Kuksenko","votes":1,"created_at":"2024-06-11T16:23:01Z"},{"id":284647,"entity_id":"wefunder:comment:284647","answer":"Hi Laila – thank you for raising this point. Safety is important to us, and we have already developed core safety framework within Floqsta App (profile verification, reporting and removing a user, ID check for a Floqsta-organized trip, and using verified tour guides). We are also developing additional features (women only trips, bring a buddy, video call before the trip, post-trip feedback and few others) and integration with security verification tools. Our website has safety information in a few places but mostly it is an in the App. You have a good point, and we will consolidate Safety features and guidelines more prominently on our website.","author_name":"Dasha Kuksenko","votes":0,"created_at":"2024-06-04T01:51:54Z"}]},{"id":278215,"entity_id":"wefunder:comment:278215","question":"How will you differentiate your social travel app from the many already available, both now and in the future? What's the grand vision/endgame here?","author_name":"Mark  Velstrom","votes":0,"created_at":"2024-03-07T18:50:19Z","canonical_url":"https://wefunder.com/floqsta#question-278215","answers":[{"id":278251,"entity_id":"wefunder:comment:278251","answer":"Hi Mark - the key differentiation from other social travel apps is Floqsta’s proprietary social matching algorithms, based on AI/ML. These algorithms connect like-minded people into harmonious travel groups. Not only does the platform connect compatible travel companions intelligently but the connections/introductions are made proactively to the user in a push mode with a swiping user experience, like in dating apps. This approach enables the platform to be highly scalable whilst making it feasible for users to find travel friends from large volumes of participants, ultimately enabling users to connect and plan the trip together.","author_name":"Dasha Kuksenko","votes":0,"created_at":"2024-03-08T00:32:24Z"}]},{"id":277780,"entity_id":"wefunder:comment:277780","question":"This may be a stupid question, could companies like Airbnb quickly copy your business model if you begin to gain traffic. As they already have the platform and traffic.","author_name":"Nick Zhang","votes":0,"created_at":"2024-03-02T06:24:26Z","canonical_url":"https://wefunder.com/floqsta#question-277780","answers":[{"id":277785,"entity_id":"wefunder:comment:277785","answer":"Hi Nick - very valid question. Big companies in adjacent spaces can attempt to copy what startups doing and develop fast given their funds/resources/users. That is the risk for any startup however (1) firstly these innovation areas may not be a priority for a big player at present (and does not seem to be specifically for Airbnb), and (2) secondly startups quickly build momentum, IP, specific know-how which help them to protect their position. In our case we have hundreds data points that users share about their interests and travel preferences that Airbnb does not have, which allows us to train our proprietary ML algorithms for travel companions matching. For us our unique social matching algorithms is our IP which is not easy to copy.","author_name":"Dasha Kuksenko","votes":1,"created_at":"2024-03-02T08:30:05Z"}]},{"id":277726,"entity_id":"wefunder:comment:277726","question":"What's the current number of users and MRR ?","author_name":"Gabriel Jarrosson","votes":0,"created_at":"2024-03-01T16:57:32Z","canonical_url":"https://wefunder.com/floqsta#question-277726","answers":[{"id":277729,"entity_id":"wefunder:comment:277729","answer":"Hi Gabriel - great questions! Over 6,000 registered users with rich profiles on the platform, and we are now actively growing our user community. We are seeing 200-300 active daily users. We target to grow community to 50,000 users by end of 2024. We are pre-revenue with first trips schedule to start end of March thus generating commissions revenue. We are forecasting to reach USD30,000 a month by second half of 2024. Happy to answer any other questions! Regards, Dasha, CEO and co-founder","author_name":"Dasha Kuksenko","votes":0,"created_at":"2024-03-01T17:27:46Z"}]}],"faq":[{"question":"What's the current number of users and MRR ?","answer":"Hi Gabriel - great questions! Over 6,000 registered users with rich profiles on the platform, and we are now actively growing our user community. We are seeing 200-300 active daily users. We target to grow community to 50,000 users by end of 2024. We are pre-revenue with first trips schedule to start end of March thus generating commissions revenue. We are forecasting to reach USD30,000 a month by second half of 2024. Happy to answer any other questions! Regards, Dasha, CEO and co-founder"},{"question":"This may be a stupid question, could companies like Airbnb quickly copy your business model if you begin to gain traffic. As they already have the platform and traffic.","answer":"Hi Nick - very valid question. Big companies in adjacent spaces can attempt to copy what startups doing and develop fast given their funds/resources/users. That is the risk for any startup however (1) firstly these innovation areas may not be a priority for a big player at present (and does not seem to be specifically for Airbnb), and (2) secondly startups quickly build momentum, IP, specific know-how which help them to protect their position. In our case we have hundreds data points that use..."},{"question":"How will you differentiate your social travel app from the many already available, both now and in the future? What's the grand vision/endgame here?","answer":"Hi Mark - the key differentiation from other social travel apps is Floqsta’s proprietary social matching algorithms, based on AI/ML. These algorithms connect like-minded people into harmonious travel groups. Not only does the platform connect compatible travel companions intelligently but the connections/introductions are made proactively to the user in a push mode with a swiping user experience, like in dating apps. This approach enables the platform to be highly scalable whilst making it fe..."},{"question":"Not a question, more of a suggestion. \"We can’t say it enough: we take your safety and privacy seriously.\" - that's from the website, but there is no page on the website expanding on what your processes are to weed out dangerous individuals. Or even how people could report a d...","answer":"Laila - as per your suggestion we now have consolidated Safety page on our website https://www.floqsta.com/safety-commitment"},{"question":"Can you share your thoughts on how often you will update us on how things are progressing with your goals and business plan? Secondly, do you intend to file the annual report with the SEC? Thanks for your feedback.","answer":"Hi Eric - I am sending quarterly investment updates to our existing investors. Annual reports - yes we have already filed certified annual reports for 2021, 2022 and 2023 to SEC as a part of crowdfunding raise process, and will continue that practice going forward."}]}}}