Question 1

Specifically, What do we get in exchange for an initial investment. Let's say $1,000.

Accepted Answer

Hello Juan, thanks for reaching out. Right now, a $1,000 investment would provide you with a SAFE (Simple Agreement for Future Equity) through the WeFunder portal with a valuation cap of $15M and a 10% Discount (Effectively a $13.5M Valuation CAP.) This is is until the 10% bonus runs out which will happen once the next $81,000 is raised (approximately.) At that point the 10% discount will disappear and the valuation will be fixed at $15M for the rest of investments made this round. For more i...

Question 2

Interesting business model, but 100k seems like a small amount to raise given revenues and previous capital raised. Or is the 100k only for the early bonus, if so what is total amount you are trying to raise now? When do you expect to to do vc raise that will triggering the SA...

Accepted Answer

Hi Fred - We're actually planning to raise up to $1.235M This raise. I believe the $100k goal was set because of the initial bonus (first $100k gets a 10% discount) - I'll reach out to WeFunder to ask if that number changes once that's hit. Regarding a VC raise, we are actually in talks with an active investor currently who is looking to acquire 20% of the company. (You can calculate this check size.) This may happen sooner than later, and would be an equity financing round. This individual w...

Question 3

Do you have any proprietary technology? Mainly trying to understand your competitive advantage and barriers to entry for others who would merely match your pricing model.

Accepted Answer

Hi Doug - check out the patent documents towards the bottom of the WeFunder campaign. We're winning business many times because of our unique patented marketing tools. We have a unique ambassador program (with 6,500 ambassadors in network) that helps events promote on Socials, Posters, Flyers, and even sell tickets in person for commissions with a walking point of sale system. We have a unique viral contest registration marketing tool that helps build event marketing databases and get events ...

Question 4

We have an Event data capture solution, do you offer white labeled solution

Accepted Answer

We have a white labeled way for event organizers to sell tickets by embedding the checkout onto their website rather than redirecting to a PromoTix branded event page. We do not offer a white labeled version of our software that we resell to others who are trying to build a ticketing company of their own on-top of our software. We're open to exploring that as an option, but there would be considerable investment needed up front and as such there would need to be some considerable potential vo...

Question 5

Hi how many customers do you have? And how much revenue do you receive from a “large” customer? How easy is it to acquire a customer? And what’s the percentage of potential customers that you pitch too convert

Accepted Answer

Event Creator Accounts (Signed Up) - 28,130; Completed Events - 11,900+; All Time Paid Customers - 2460; To Date Largest Customer - Approx $98,000 annually; Regarding the last question, we do very little one-on-one sales. While we have larger customers who choose to speak to us prior to going live on our platform, 95% or more we never speak with since we are a "Product Led" organization (meaning the product sells itself and its self-signup.) We convert around 1/3rd of all customers who book m...

PromoTix, Inc

Event ticketing, marketing and live streaming without Ticketmaster's high fees - $60.9M in sales

$192,086

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PromoTix, Inc

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$192,086

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