This company is no longer in business. Investors can get details about any potential exits or failures here.

AppApp

AppApp

Early Stage

Complimentary appetizers whenever you dine out

Complimentary appetizers whenever you dine out

Overview

Raised this Round: Raised: $169,855

Total Commitments ($USD)

Platform

Wefunder

Start Date

11/13/2019

Close Date

03/06/2020

Min. Goal
$50,000
Max. Goal
$278,766
Min. Investment

$250

Security Type

SAFE

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$6,750,000

Discount

0%

Year Founded

2017

Industry

Food, Beverage, & Restaurants

Tech Sector

Foodtech

Distribution Model

B2B/B2C

Margin

High

Capital Intensity

Low

Location

Brooklyn, New York

Business Type

Life Style

AppApp, with no valuation cap, is raising funds on WeFunder. The application offers free appetizers to users when they dine out at the partner restaurants. AppApp provides instant rewards to consumers while keeping the costs down for restaurant owners. AppApp was launched in 2018 by Todd Folk and Nick Ludwig; however, it received a cold response at TechDay 2018. The team then rethought, redesigned, and restarted the application and raised $250,000 in its first round of crowdfunding in May 2019. The current crowdfunding round has a minimum goal of $50,000 and a maximum goal of $278,766, and the funds will be used for marketing, continued app development, salaries, and other expenses. AppApp has already partnered with more than 90 restaurants in New York City and has over 250 monthly active users.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$2,332

$0

COGS

$0

$0

Tax

$400

$0

 

 

Net Income

$-24,799

$-14,371

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$6,925

$24,970

Accounts Receivable

$0

$0

Total Assets

$23,571

$33,370

Short-Term Debt

$0

$0

Long-Term Debt

$30,000

$15,000

Total Liabilities

$30,000

$15,000

Financials as of: 11/13/2019
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
AppApp 03/05/2020 Wefunder $6,750,000 $169,855 SAFE Funded RegCF
AppApp 07/30/2019 Wefunder - $256,583 SAFE Funded RegCF
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Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Valuation History

Price per Share History

Note: Share prices shown in earlier rounds may not be indicative of any stock splits.

Employee History

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Analyst Report Analyst Report Methodology Article

Update

KingsCrowd’s assessment of AppApp has not changed since we last rated it an Underweight Deal. Please see the previous Analyst Report to learn more about why AppApp is a risky investment opportunity.

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AppApp on Wefunder
Platform: Wefunder
Security Type: SAFE
Valuation: $6,750,000

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