Idle
Early Stage
Idle is a peer to peer smartphone app that enables users to rent and rent out Idle goods
Overview
Raised: $54,228
Total Commitments ($USD)
Platform
Wefunder
Start Date
06/23/2021
Close Date
01/23/2022
Min. Goal
$50,000
Max. Goal
$250,000
Min. Investment
$100
Security Type
SAFE
Series
Seed
SEC Filing Type
RegCF
Early Bird Val. Cap
$4,000,000
Valuation Cap
$5,000,000
Discount
15%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
01/30/2022
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$255
# of Investors
127
Momentum
Funded
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Year Founded
2017
Industry
Consumer Products, Goods & Services
Tech Sector
MarketplaceTech
Distribution Model
C2C
Margin
Low
Capital Intensity
Low
Idle, with a $5 million valuation cap, is raising funds on Wefunder. The company has developed a peer-to-peer smartphone app that allows users to rent and rent out their idle goods. The platform brings owners and renters together, allows users to rent anything and earn any time, and simplifies the process. Nicholas Luft founded Idle in May 2017. The proceeds of the current crowdfunding round, with a minimum goal of $50,000 and a maximum goal of $250,000, will target marketing, business development, social media campaigns, and overheads. Idle has an existing user base with over 175,000 installs. The app allows users to participate in the shared economy and reduce CO2 emissions and waste.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$67,508 |
$2,306 |
|
COGS |
$0 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-119,851 |
$-114,249 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$0 |
$52,343 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$0 |
$52,343 |
|
Short-Term Debt |
$67,508 |
$0 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$67,508 |
$0 |
Financials as of: 06/23/2021
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