WingTips

WingTips

Early Stage

WingTips is revolutionizing short-distance travel

WingTips is revolutionizing short-distance travel

Overview

Raised to Date: Raised: $3,950

Total Commitments ($USD)

Platform

Wefunder

Start Date

12/20/2023

Close Date

04/29/2024

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

$200

Security Type

Convertible Note

Series

Series A

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$12,000,000

Discount

20%

Rolling Commitments ($USD)

Status

Active

Reporting Date

04/28/2024

Days Remaining

0

% of Min. Goal

8%

% of Max. Goal

1%

Likelihood of Max
unlikely
Avg. Daily Raise

$30

Momentum
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Year Founded

2008

Industry

Travel and Hospitality

Tech Sector

Hardwaretech

Distribution Model

B2C

Margin

Low

Capital Intensity

High

Location

Thousand Oaks, California

Business Type

Growth

WingTips, with a valuation of $12 million, is raising funds on Wefunder. The company provides on-demand air services for short distances using technology to drive crowd scheduling. WingTips passengers 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 live in California, Nevada, Texas, and Arizona and plans to open two new regions per year starting in 2024. Mike Azzarello, Bruce J Holmes, and Laurie Garrow founded WingTips in January 2008. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $618,000. The campaign proceeds will be used for marketing, salaries, and app development.

Summary Profit and Loss Statement

FY 2022 FY 2021

Revenue

$143,959

$3,940

COGS

$233,281

$25,418

Tax

$0

$0

 

 

Net Income

$-701,583

$-1,034,134

Summary Balance Sheet

FY 2022 FY 2021

Cash

$139,582

$676,990

Accounts Receivable

$0

$0

Total Assets

$149,582

$990,954

Short-Term Debt

$11,642

$1,145,841

Long-Term Debt

$1,405,310

$75,000

Total Liabilities

$1,416,952

$1,220,841

Financials as of: 12/20/2023
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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 2023
Platform: Wefunder
Security Type: Convertible Note
Valuation: $12,000,000

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