WingTips (previously Personal Airline)

WingTips (previously Personal Airline)

Early Stage

Air charter meets AI for custom travel.

Air charter meets AI for custom travel.

Overview

Raised to Date: Raised: $124,925

Total Commitments ($USD)

Platform

Wefunder

Start Date

07/17/2022

Close Date

11/17/2022

Min. Goal
$50,000
Max. Goal
$535,000
Min. Investment

$100

Security Type

Convertible Note

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Early Bird Val. Cap

$20,000,000

Valuation Cap

$25,000,000

Discount

20%

Rolling Commitments ($USD)

Status
Funded
Reporting Date

11/29/2022

Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise

$1,016

# of Investors

65

Momentum
Funded
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Year Founded

2008

Industry

Travel and Hospitality

Tech Sector

Hardwaretech

Distribution Model

B2B

Margin

Low

Capital Intensity

Low

Location

Thousand Oaks, California

Business Type

Growth

WingTips, with a valuation of $25 million, is raising funds on Wefunder. The company provides on-demand air services for short distances using technology to drive crowd scheduling. The passengers of WingTips travel four times faster than driving or other airlines at affordable pricing. The passengers are aggregated with other passengers for flights to create a low-cost model. WingTips is led by an experienced team and reported a ten times increment in year-to-date 2022 revenue compared to all of 2021 revenue. Mike Azzarello founded WingTips in January 2008. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $535,000. The campaign proceeds will be used for marketing, salaries, app development, rent, and infrastructure and consulting fees.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$3,940

$0

COGS

$25,418

$0

Tax

$0

$0

 

 

Net Income

$-265,393

$-12,230

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$676,990

$1,126

Accounts Receivable

$0

$1,085,000

Total Assets

$990,954

$1,221,376

Short-Term Debt

$1,145,841

$20,870

Long-Term Debt

$75,000

$1,165,000

Total Liabilities

$1,220,841

$1,185,870

Financials as of: 07/17/2022
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
WingTips 04/28/2024 Wefunder $12,000,000 $3,950 Convertible Note Active RegCF
WingTips (previously Personal Airline) 11/17/2022 Wefunder $25,000,000 $124,925 Convertible Note Funded RegCF
Personal Airline 11/11/2019 StartEngine $3,625,266 $18,659 Equity - Common Funded RegCF
Pax 12/28/2017 StartEngine $3,595,166 $32,850 Equity - Common Funded RegCF
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Price per Share History

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

Valuation History

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.

Employee History

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WingTips on Wefunder 2022
Platform: Wefunder
Security Type: Convertible Note
Valuation: $25,000,000

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