PromSocial

PromSocial

Early Stage

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

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

Overview

Raised this Round: Raised: $59,650

Total Commitments ($USD)

Platform

Wefunder

Start Date

09/12/2019

Close Date

04/17/2020

Min. Goal
$50,000
Max. Goal
$100,000
Min. Investment

$100

Security Type

SAFE

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$2,000,000

Discount

0%

Year Founded

2019

Industry

Media, Entertainment & Publishing

Tech Sector

MarketplaceTech

Distribution Model

B2B/B2C

Margin

High

Capital Intensity

Low

Location

Old Bridge, New Jersey

Business Type

Life Style

PromSocial, the mobile app designed to make the prom planning process fun and stress-free, is raising funds on WeFunder. The PromSocial app uses technological solutions to bring all aspects of prom experience to the teen population in an integrated manner. The app includes powerful planning, social media, e-commerce, dating, and even logistics. PromSocial was founded by Ed Abdel-Malak, Michael Hudak, and Ravi Koltur in 2013 and was one of the finalists in Shark Tank Season 11. The current round of crowdfunding has a minimum goal of $50,000 and a maximum goal of $100,000, and the proceeds will be used for development, and sales & marketing. PromSocial launched its open beta in January 2019 and already has more than 3,000 users. The company also has a verbal commitment from a large high school to use the app for their Prom 2020.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$0

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-2,300

$0

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$10,000

$0

Accounts Receivable

$0

$0

Total Assets

$10,000

$0

Short-Term Debt

$0

$0

Long-Term Debt

$0

$0

Total Liabilities

$0

$0

Financials as of: 09/12/2019
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PromSocial on Wefunder
Platform: Wefunder
Security Type: SAFE
Valuation: $2,000,000

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