Discotech

Discotech

Early Stage

OpenTable for the $27 billion U.S. nightlife market

OpenTable for the $27 billion U.S. nightlife market

Overview

Raised to Date: Raised: $126,788

Platform

Wefunder

Start Date

08/09/2016

Close Date

10/16/2016

Min. Goal
$100,000
Max. Goal
$1,000,000
Min. Investment

$100

Security Type

SAFE

SEC Filing Type

RegCF    Open SEC Filing

Early Bird Val. Cap

$5,000,000

Valuation Cap

$6,000,000

Discount

20%

Year Founded

2013

Industry

Media, Entertainment & Publishing

Tech Sector

MarketplaceTech

Location

Los Angeles, California

Discotech, with a valuation of $6 million, is raising funds on Wefunder. The company has developed a platform to list over 1,000 nightlife venues. Discotech works as an OpenTable for venues in 50 cities and has partnerships with multiple clubs, concert venues, and music festivals. The platform has over $7 million in gross revenue and reported a 60% year-over-year growth in revenue in Q4 2019. Ian Chen, Mark Wu, and Ian Bushong founded Discotech in October 2013. The current crowdfunding campaign has a minimum target of $100,000 and a maximum target of $1 million. The campaign proceeds will be used for hiring software developers and business development employees, customer acquisition, and marketing.

Summary Profit and Loss Statement

FY 2015 FY 2014

Revenue

$116,730

$35,596

COGS

$16,163

$7,548

Tax

$0

$0

 

 

Net Income

$-83,890

$-78,722

Summary Balance Sheet

FY 2015 FY 2014

Cash

$66,031

$200,425

Accounts Receivable

$30,156

$3,473

Total Assets

$187,737

$249,450

Short-Term Debt

$991

$3,595

Long-Term Debt

$430,138

$405,988

Total Liabilities

$431,129

$409,583

Financials as of: 08/09/2016
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Discotech on Wefunder 2016
Platform: Wefunder
Security Type: SAFE
Valuation: $6,000,000

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Warning: according to the close date for this deal, Discotech may no longer be accepting investments.

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