Runner City

Runner City

Early Stage

Community Gig-Cooperative Eliminates the Dependency of Greedy Gig-Errand-Delivery Apps

Community Gig-Cooperative Eliminates the Dependency of Greedy Gig-Errand-Delivery Apps

Overview

Raised this Round: Raised: $89,366

Total Commitments ($USD)

Platform

Wefunder

Start Date

12/10/2023

Close Date

01/16/2024

Min. Goal
$50,000
Max. Goal
$618,000
Min. Investment

$100

Security Type

SAFE

Series

Series A

SEC Filing Type

RegCF    Open SEC Filing

Early Bird Val. Cap

$2,700,000

Valuation Cap

$3,000,000

Discount

0%

Year Founded

2021

Industry

Logistics, Delivery, & Supply Chain

Tech Sector

MarketplaceTech

Distribution Model

C2C

Margin

High

Capital Intensity

Low

Location

Austin, Texas

Business Type

Growth

Runner City, with a valuation of $3 million, is raising funds on Wefunder. The company offers a peer-to-peer service for delivery and running errands. The runners of Runner City work independently on tips for pickups and deliveries and help eliminate the high fees charged by delivery apps. Runner City launched its MVP only in Austin in October 2022 and has 8,000 signups so far organically. Andy Kaminski, Hugh Olson IV, and Alok Paryani founded Runner City in October 2021. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $618,000. The campaign proceeds will be used to pay the development team to build the mobile app, target new user signups through Facebook Apps, hire a CTO and a COO, and cover the cost of print materials for distribution.

Summary Profit and Loss Statement

FY 2022 FY 2021

Revenue

$16,684

$0

COGS

$2,050

$0

Tax

$50

$0

 

 

Net Income

$-25,101

$-26,666

Summary Balance Sheet

FY 2022 FY 2021

Cash

$71,911

$213,802

Accounts Receivable

$0

$0

Total Assets

$208,999

$229,358

Short-Term Debt

$0

$0

Long-Term Debt

$0

$0

Total Liabilities

$0

$0

Financials as of: 12/10/2023
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Runner City 01/15/2024 Wefunder $3,000,000 $89,366 SAFE Funded RegCF
Runner City 12/13/2021 Wefunder $2,500,000 $257,898 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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Runner City on Wefunder 2023
Platform: Wefunder
Security Type: SAFE
Valuation: $3,000,000

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