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PromSocial

First mobile app that makes the entire prom experience fun & stress-free

Highlights

1
Finalist for ABC's Shark Tank Season 11: https://youtu.be/JSOcN7yTYlY
2
Launched open beta in January 2019; over 10k users in every US state.
3
Featured on The AMC channel: https://newswatchtv.com/2018/03/15/promsocial-newswatch-review/
4
Verbal commitment from our first official high school to begin using the app in 2019.
5
The prom industry lacks a central hub that connects prom goers with retailers. Each teen spends ~ $1K per year on prom.
6
Partnered with several retailers already who are providing significant discounts to our users.
7
~4 to 5 million teens in the US alone go to prom every single year resulting in 4 to 5 billion dollars in spend every year.
8
Started generating revenue

Our Team

We chose this idea because we know how stressful and overwhelming it can be to plan for prom as a young teen. We created PromSocial to take away the many common stresses teens face when planning for the big night. Our app makes the entire prom planning process fun, easy and stress free.


The Story of PromSocial

We started in 2013. It's been a long, crazy journey, and we've only just started to scratch the surface on disrupting the multi-billion-dollar prom industry.

The Problem

There are few rites of passage in American culture as important as Prom. Seen as a gateway from childhood into adulthood, attending Prom is one of the most anticipated, discussed, and prepared-for moments in a teen’s life.

Yet for all the importance placed on Prom, the logistics of planning and attending the event is still wildly fragmented. Tickets, attire, dates, transportation, parties, and more, planning for this life changing event can be overwhelming, confusing and frustrating for millions of teens across the country.

Nearly everything in our lives has been streamlined with the advancement of technology, yet the Prom Industry has experienced few disruptions. PromSocial aims to change this, making the process of planning, attending, and enjoying Prom as simple as a few clicks of a button.

The Solution

Teenagers today are part of a digitally-native generation that uses technology to improve all aspects of their life. School, sports, socializing, gaming and more, technology has dramatically changed the American high school experience over the last decade.

PromSocial capitalizes on this affinity for seamless technological solutions by centralizing all the elements of Prom into an easy-to-use, powerful planning app. Part social media, part dating app, part eCommerce, and part event logistics app, PromSocial allows users to quickly and easily execute all the steps on their journey to Prom, ensuring the process is efficient, easy, and most importantly, fun!

How We Came Up With The Idea?

Co-Founders Ed & Mike met for lunch one day back in 2013. Mike was an avid domainer and he and Ed were going through his list of domains and PromSocial.com caught Ed’s attention. Ed proceeded to ask Mike what his plans were for the domain and Mike proceeded with “2 great key words; thought it would be cool to give prom a social aspect”. That immediately brought Ed back in time to his Senior prom and reminded him of how overwhelming & stressful it was leading into the big day which immediately inspired the 2 to come up with a better solution. On that day, PromSocial was born.

Where Are We Now?

We launched our open beta in late January of 2019 and are quickly approaching 10k users across the U.S. In addition to our existing user base that continues to grow, we now have verbal commitment from a large diverse high school that has agreed to use our app for Prom 2020. This will be the first of many schools to embrace PromSocial. All of our recent success landed us an audition for ABC's hit series, Shark Tank Season 11 which we were a finalist for.

What's Next?

With your investment help, we will be able to build out our next set of key features which will enhance the user experience and allow us to begin monetizing the app. In addition, half of the investment we receive will go towards marketing the app more broadly, allowing us to continue on-boarding prom goers and prom retailers across the country.

Business Model

To ensure rapid adoption and penetration into the marketplace, PromSocial plans to remain absolutely free of charge to users. Prom is expensive enough, and PromSocial does not want to add to that list of expenses.

Instead, revenue for the company will come from its Retail Partners via three main streams:

  • Subscription
    • Partners pay a monthly subscription fee to be listed on our platform. This will vary by retailer but will likely be somewhere between $20 to $50 per month.
  • Commission
    • All apparel and accessory sales, limo bookings, hair appointments, floral purchases and any other Prom-related service found and booked through the app is subject to a commission paid back to PromSocial. This will likely be somewhere between 3% to 7% of sales.
  • Advertising
    • For Retail Partners looking to maximize their exposure and sales, advertising opportunities are available to extend their presence and reach within the app.

Best of all, with a fresh batch of Prom-goers and PromSocial users each and every season, there is continued incentive for our Retail Partners to return and spend money on the platform year after year.

Sneak Peak Into Our Market Directory Design

Why Invest?

Prom is a $4+ Billion Industry in the U.S. Alone

With 17 million high school students in the U.S., and the average attendee spending $919 on their Prom experience, the industry has ballooned to a record $4+ billion nationwide.

Teens Embrace Technological Solutions to Their Problems

Current and future high-schoolers are all digitally native, embracing new tools and apps to improve their social standing and quality of life. By creating an app specifically focused on the biggest night of their high school lives, PromSocial is uniquely positioned as a “must-have” app.

First to Market

No company has combined all the social and logistical elements of Prom into a single, easy-to-use solution. PromSocial, by providing such a solution, will experience tremendous first mover advantages.

User Base Refreshes Each and Every Year

As Seniors graduate and move on from high school, a new wave of users will be introduced each and every year. Not only will this allow PromSocial to keep a fresh group of active, passionate users, but it will encourage Retail Partners to advertise with us over other options.

What's Our Exit Strategy?

As a hybrid social media, e-commerce, and event planning tool, PromSocial has several attractive candidates for an eventual exit. These candidates include the major social media players (Facebook, Snapchat), Search Engine Providers (Google), and Permira who owns the Wedding platform WeddingWire who recently merged with The Knot.

     We Look Forward To Having You As An Investor! THANK YOU!


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