Idle

Early Stage

Idle is a peer to peer smartphone app that enables users to rent and rent out Idle goods

Analytics

Raised to Date: Raised: $54,228

Aggregate Commitments $

Platform

Wefunder

Start Date

06/24/2021

Close Date

01/23/2022

Min. Goal

$50,000

Max. Goal

$250,000

Min. Investment

$100

Security Type

SAFE

Funding Type

RegCF

Series

Seed

Valuation Cap

$5,000,000

Discount Rate

15%

Rolling Commitments $

Status
Funded
Reporting Date

01/31/2022

Days Remaining
Funded
% of Min. Goal

108%

% of Max. Goal

22%

Likelihood of Max
Funded
Avg. Daily Raise

$255

Momentum
Funded
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Location

Marietta, Georgia

Industry

Consumer Products, Goods & Services

Tech Sector

MarketplaceTech

Distribution Model

C2C

Margin

Low

Capital Intensity

Low

Business Type

Growth

Idle, with a $5 million valuation cap, is raising funds on Wefunder. The company has developed a peer-to-peer smartphone app that allows users to rent and rent out their idle goods. The platform brings owners and renters together, allows users to rent anything and earn any time, and simplifies the process. Nicholas Luft founded Idle in May 2017. The proceeds of the current crowdfunding round, with a minimum goal of $50,000 and a maximum goal of $250,000, will target marketing, business development, social media campaigns, and overheads. Idle has an existing user base with over 175,000 installs. The app allows users to participate in the shared economy and reduce CO2 emissions and waste.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$67,508

$2,306

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-119,851

$-114,249

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$0

$52,343

Accounts Receivable

$0

$0

Total Assets

$0

$52,343

Short-Term Debt

$67,508

$0

Long-Term Debt

$0

$0

Total Liabilities

$67,508

$0

Financials as of: 06/24/2021
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Idle on Wefunder 2021
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Platform: Wefunder
Security Type: SAFE
Valuation: $5,000,000

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