Help us change the world
We believe that what we're building at iCrumz will have a profound impact on the world and on the lives of the people who use it because it will help people discover information that would be impossible to discover any other way and because it will make it easier for people to share information with each other and collaborate. Whether you're working on curing cancer or remodeling your kitchen, iCrumz can help.
But we need your help to get there. We need capital to fund completion of the next generation stand-alone version of iCrumz and take it to market.
We're raising $1 million in four pricing tranches:
- $100,000 at $1.2 million pre-money valuation (already closed)
- $150,000 at $1.8 million pre-money valuation (already closed)
- $250,000 at $2.9 million pre-money valuation (active right now)
- $500,000 at $4.7 million pre-money valuation
If you are an AngelList user, you can visit our AngelList profile. If you are interested in digging into the specific terms of our capital raise, the following documents may be of interest to you:
- Investment infographic
- Term Sheet
- Stock Purchase Agreement
- Confidentiality Agreement
- Instructions for Investors
- Investor pitch deck and business plan
The investment funds will be used to complete development of the native desktop apps for Macintosh and Windows computers, iPhone, iPad and Android phones and tablets and to fund our promotional efforts, which should get us to $15+ million in annual revenue.
As you evaluate an investment in iCrumz, it's worth considering the tale of two companies: SnapChat and WhatsApp. If you're familiar with these companies, then great. If not, it really doesn't matter other than to know that they are both mass-market software apps, like iCrumz.
A recent Business Insider article reported that SnapChat is expected to generate $50 million in revenue in 2015 and $200 million in 2016. SnapChat has about 100 million unique users per day. At this revenue ramp rate, and given that the article was published at the end of July 2015, this means that at the time the article was published, their revenue run rate was about $20 million per year with 100 million unique daily users. That works out to be 0.05¢ in revenue per user per day, which compares to the 5.5+¢ iCrumz earns per user per day. So iCrumz is 10,800% more profitable than SnapChat on a per-user basis. Using iCrumz' actual revenue per user per day value of 5.5+¢, we would earn more than $2,007,500,000 per year with 100 million daily users. Keep in mind that iCrumz' target market is significantly larger than SnapChat's (at least 10x larger).
Why is this relevant? Because in the first 36 months after SnapChat was founded, it had raised $1.2 billion of investment capital and was valued at $15 billion when it closed its round of funding in May 2015. And by the way, SnapChat's revenues for Jan-Nov 2014 were just $3.1 million.
It's worth noting that SnapChat is not headquartered in Silicon Valley. Like iCrumz, they are based in Southern California, headquartered in Pacific Palisades.
In terms of the value per user in an acquisition, the record has to be Facebook's acquisition of WhatsApp that closed on 10/6/14 for $22 billion. What were WhatsApp's revenues at the time? Wait for it .... a whopping $10 million per year! That's an acquisition revenue multiplier of 2,200x.
Here are the values per user of some of the larger/best known Internet companies (as of 8/22/2015)
For those not so familiar with how the valuations of info tech companies can ramp so much so quickly, we track this information for businesses that have similar valuation metrics as iCrumz (depicted in the chart below). To get the latest on all the "unicorns" (private companies with valuations of at least $1 billion), check out CrunchBase's Unicorn Leaderboard.
iCrumz is the kind of opportunity where a $10,000 investment could be worth $2.5 million within a few years if iCrumz performs as well as the worst performing of any of those 150+ companies.
The chart below summarizes some recent comparable exits.