Mobile app delivering personalized reviews and recommendations

Taste is offering securities under both Regulation D and Regulation CF through SI Securities, LLC ("SI Securities"). SI Securities is an affiliate of SeedInvest Technology, LLC, a registered broker-dealer, and member FINRA/SIPC. SI Securities will receive cash compensation equal to 7.50% of the value of the securities sold and equity compensation equal to 5.00% of the number of securities sold. Investments made under both Regulation D and Regulation CF involve a high degree of risk and those investors who cannot afford to lose their entire investment should not invest. Furthermore, the contents of the Highlights, Term Sheet sections have been prepared by SI Securities and shall be deemed broker-dealer communications subject to FINRA Rule 2210 (the “Excluded Sections”). With the exception of the Excluded Sections noted above, this profile contains offering materials prepared solely by Taste without the assistance of SI Securities, and not subject to FINRA Rule 2210 (the “Issuer Profile”). The Issuer Profile may contain forward-looking statements and information relating to, among other things, the company, its business plan and strategy, and its industry. Investors should review the risks and disclosures in the offering's draft. The contents of this profile are meant to be a summary of the information found in the company’s Form C. Before making an investment decision, investors should review the company’s Form C for a complete description of its business and offering information, a copy of which may be found both here and below.

Company Highlights

  • 300K registered users generating 4.4 million screen views per month. 200K users added since mobile app launch in May 2018.
  • 4,800 daily-active-users and 47,000 monthly-active-users in February, up over 45% month-over-month.
  • Match algorithm is 2.5x more accurate than generic rating systems (based on management estimate). Over 400 data points per user.
  • Of users that have linked Facebook, 30% have friends on the platform.
  • 1,700 paid premium subscribers as of January. Acquisition cost for paid subscribers (6-month average) down 20% month-over-month, bringing lifetime value of paid subscribers to customer acquisition cost of paid subscribers ratio to 1.43.

Fundraise Highlights

  • Total Amount Raised: US $727,070
  • Total Round Size: US $850,000
  • Raise Description:  Seed
  • Minimum Investment:  US $500 per investor
  • Security Type:  Crowd Note
  • Valuation Cap:  US $3,000,000
  • Offering Type:   Side by Side Offering

Taste provides personalized recommendations from like-minded people all around the world—use it to find your next favorite movie, band, restaurant, book, and much more.

More than 1 billion users rely on review sites like Yelp and IMDB to get recommendations, generating over a billion dollars in advertising revenue every year. Oddly, these platforms do not offer a truly personalized experience. Why should two people with drastically different tastes see the same ratings and reviews? 

Taste uses predictive algorithms to deliver personalized reviews across products and services. By rating what you like and dislike, the app generates a personal "Match%" for every item. Not only will you save time finding what to watch (and eventually what to read and where to go), building a taste profile is also surprisingly addictive.

The Match% is computed from the ratings of people who are the most similar to you in taste. This peer-to-peer method will allow us to service a wide range of categories with the same user experience and algorithm. It also means we will be able to suggest what book you will enjoy based on the music you love and the restaurants you frequent—it's helping you get recommendations from like-minded people all around the world. 

  • 300,000 registered users.
  • Already one of the top search results on Google and both app stores.

  • Upcoming categories include music, books, podcasts, games, apps, food & drink, travel, events, anime & comics, fashion, gadgets, articles, and even recipes.
  • Personalized results that come from humans, not a machine.
  • App lets you compare tastes with friends to find what to watch together or a restaurant you will all love.

By consolidating reviews across categories and making them personalized, you would only need a single Taste profile across the web. Our long-term vision is to replace all rating and review platforms with one app and turn "Match%" into the new standard for product discovery. 

Product & Service

The Taste App delivers personalized reviews and recommendations by connecting people with similar tastes. The product is available in both app stores and as a webapp. 

Product Highlights

  • Match% is 2.5x more accurate in predicting user preference when measured against generic rating systems (based on management estimation).
  • Taste users rate and save 30x more than they do on category leaders, such as IMDB (based on management estimation), creating a network effect with higher data density.

  • 50% of users retain the Taste App after 90 days—that’s 2x the industry average of 22%.

  • Taste profiles are naturally social. 30% of users already have friends on the platform (based on management calculation). Cost-per-acquisition for app installs is $0.23.

Competitive Advantages

  • Humanistic AI. Our algorithm connects like-minded users, so the experience is natural and humanistic. The result feels like you're asking a good friend rather than a machine computation of cut-and-dry attributes.

Category Agnostic. We use the same set of algorithms and databases to handle items across categories making scaling cost-effective. This ability to scale and collect data creates a high entry barrier for competitors that are category-specific.

  • Not Creepy. Taste users are incentivized to rate, save, and dismiss items to get better recommendations. This leads to an increased amount of opted-in data that helps us serve more relevant sponsored content. We will achieve high ARPU from users' actual product preferences, rather than crawling their photos, personal messages, and browsing history.

Business Model

  • Advertising. For every recommended item, there’s a seller ready to spend their marketing budget to make the sale. Advertising among review platforms is already a fast-growing billion-dollar business.
  • Freemium. Taste is designed to generate revenue directly from consumers. Through our freemium model (unlocking advanced filters and features), we generate revenue by selling recommendations as a B2C SaaS. 

Upcoming Features

  • Category Expansion
. With movies and TV shows already launched, we will be releasing music, books, podcasts, games, and app recommendations in 2019. Also in development: food & drinks, travel & hotels, anime & comics, concerts & events, fashion & brands, beer, liquor, & wine, recipes, articles & video content, gadgets & products.
  • Single API / Single Profile
. A single profile that predicts what book you will like based on the music you listen to and the restaurants you frequent. Our single API helps track preferences, bookmarks, and wishlists while you are browsing the web or in another app.

  • Merge Profiles. Merge Taste profiles with friends and your significant other to decide what to watch, what to do, and where to eat. Send recommendations to a friend and keep a joint "to-do-list" to keep track of your combined tastes. 

  • Compare & Explore. Check compatibility with a date or a new friend. Interact with people who share your taste anywhere in the world, and with critics and celebrities.

Media Mentions

Team Story

Taste is founded by John and Justin, a design and engineering duo with 20 years of experience in personalization tech. They have been working side by side for the past 7 years—from building marketing automation for Starbucks to designing SaaS products for startups. 

John's management experience in advertising exposed him to tactics that marketers would use to sway consumers; so when news broke that online reviews were heavily manipulated, he was inspired to design a better technology that protects the neutrality of peer reviews.

Taste began as a passion project when John and Justin set out to build a personalized review platform by decentralizing the data. Working nights and weekends on end, they released the first version from John's living room. The product gained traction through Reddit and Product Hunt and quickly grew to a sizable community of cinephiles and data enthusiasts. 

Founders and Officers

John Lin

Founder, CEO

University of Washington

As the Head of Digital at Square Tomato, John managed brands including Xbox, Starbucks, Corbis, and Essentia Water. During that time, he ran acquisition campaigns and oversaw analytics for CRM programs that covered over 10MM customers. John also consulted for a long list of tech startups, including Drawbridge Networks, Cue, LINK3D, and YooTalent.

John Lin

Founder, CEO

University of Washington

As the Head of Digital at Square Tomato, John managed brands including Xbox, Starbucks, Corbis, and Essentia Water. During that time, he ran acquisition campaigns and oversaw analytics for CRM programs that covered over 10MM customers. John also consulted for a long list of tech startups, including Drawbridge Networks, Cue, LINK3D, and YooTalent.

Justin Messina

Founder, CTO

University of Oregon

As the Head of Technology at Square Tomato, Justin managed the tech team and designed CRM automation processes for brands such as Starbucks and Corbis. As a fullstack developer and consultant, he designed and built a wide range of tech, including UGC-ready databases, merchant portals, e-commerce management, and social media platforms.

Justin Messina

Founder, CTO

University of Oregon

As the Head of Technology at Square Tomato, Justin managed the tech team and designed CRM automation processes for brands such as Starbucks and Corbis. As a fullstack developer and consultant, he designed and built a wide range of tech, including UGC-ready databases, merchant portals, e-commerce management, and social media platforms.

Key Team Members

David Shilane

Chief Data Scientist

Jenny Kirti-Dunham

Front-End Developer

Philippe Modard

Technical Advisor & Back-End Engineer

Zoe Zhu

Data Scientist

Codigo Del Sur

Mobile Development Team

Notable Advisors & Investors

Ricky Solomon

Investor, Angel Investor, Managing Partner at AI Capital

Chris Barrett

Advisor, Founder & CEO, PRServe

Q&A with the Founder

  • What is the lead time for the development of each new category? What are the efficiencies in the development of each new category?
    The efficiencies are exponential. The movie category took us 8-months to build and collect enough data to release to open public. The TV category took us 4-months. We intend to open multiple categories at once in 2019.

    We are able to do this because the database has been written in a way that’s simple to scale. Our unit for recommendation is an item and most of the elements relating to the item are very similar. Our goal is to make categories and items open to user-generation within 2 years.

    On the algorithm side, the system’s written in such a way that data can be computed separate or combined with other categories. Our system’s smart enough to know which cross-category correlations to use when necessary. We build the system this way with scaling across category in mind since day one. 

  • Please provide further detail on the product road map over the next 12 – 18 months. Why does the company wish to introduce these concepts in particular? 

    Although presented / marketed to users as a recommendation engine, Taste is meant to be the Tinder/OkCupid for product discovery. It is crucial to our business that users trusts our matches across as many categories and for as many items as possible. Expanding categories increases the use case exponentially and significantly reduces friction of referral rate.

    In simple terms, we want to be able to help users find good matches for everything, from content, entertainment, to physical products. The concept of a comprehensive “taste profile” is very intuitive to users. Thus the more things we’re able to recommend, the more likely someone will tell their friends about Taste.

  • Please summarize how and why the product is differentiated from competitors.

    There are not that many companies specifically in our area. The key difference is our gamified approach to product design. This may seem trivial from the business angle, but the fact is our ability to push users forward to input data has been the reason for our success. More rating per user = user attachment to their identity, more saves per user = more items we know they’re interested in, which we can directly monetize on by correlating with advertisers/sellers. And the more overall data we have, the higher the data-density, which is the most important factor in prediction accuracy.

  • Please detail the barriers to entry for potential new entrants to this market.
    Network-effect. People don’t want to build their entire taste profile twice. And our knowledge and know-how in how to expand across categories + deal with the algorithm. 
  • Please outline the regulatory landscape of your market, any regulations you must comply with, and how you comply with those regulations, if applicable. 
    We comply with the standard regulations of protecting user data and we believe their data is theirs and they can pack it to go. Once again, the concept of building a taste profile and getting personalized product recommendations is self-evident. Users are inherently opted-in to get the service. 
  • The Q&A with the Founder is based on due diligence activities conducted by SI Securities, LLC. The verbal and/or written responses transcribed above may have been modified to address grammatical, typographical, or factual errors, or by special request of the company to protect confidential information.

    Term Sheet

    A Side by Side offering refers to a deal that is raising capital under two offering types. If you plan on investing less than US $20,000.00, you will automatically invest under the Regulation CF offering type. If you invest more than US $20,000.00, you must be an accredited investor and invest under the Regulation D offering type.

    Fundraising Description

  • Round type:

  • Round size:
    US $850,000

  • Raised to date:
    US $727,070
    US $442,070 (under Reg CF only)

  • Minimum investment:
    US $500

  • Target Minimum:
    US $455,000
  • Key Terms

  • Security Type:
    Crowd Note

  • Conversion discount:

  • Valuation Cap:
    US $3,000,000

  • Interest rate:

  • Note term:
    24 months
  • Additional Terms

  • Investment Proxy Agreement

    All non-Major Purchasers will be subject to an Investment Proxy Agreement (“IPA”). The IPA will authorize an investment Manager to act as representative for each non-Major Purchaser and take certain actions for their benefit and on their behalf. Please see a copy of the IPA included with Company's offering materials for additional details.

  • Custody of Shares

    Investors who invest $50,000 or less will have their securities held in trust with a Custodian that will serve as a single shareholder of record. These investors will be subject to the Custodian’s Account Agreement, including the electronic delivery of all required information. 

  • Closing conditions:
    While Taste has set an overall target minimum of US $455,000 for the round, Taste must raise at least US $25,000 of that amount through the Regulation CF portion of their raise before being able to conduct a close on any investments below $20,000. For further information please refer to Taste's Form C.

  • Transfer restrictions:
    Securities issued through Regulation CF have a one year restriction on transfer from the date of purchase (except to certain qualified parties as specified under Section 4(a)(6) of the Securities Act of 1933), after which they become freely transferable. While securities issued through Regulation D are similarly considered "restricted securities" and investors must hold their securities indefinitely unless they are registered with the SEC and qualified by state authorities, or an exemption from such registration and qualification requirements is available.

  • Use of Proceeds

    Investor Perks

    Fan Level

    Fan level investment gets you access to new categories and features before they are released to the public. 

    $500 Invested by April 30 at 11:59pm ET - Lifetime premium membership

    Contributor Level

    Contributor level investors will get quarterly product updates and the chance to vote on important development decisions.

    $1,000 Invested - Lifetime premium membership + exclusive investor badge on your profile

    $2,500 InvestedLifetime premium membership + Taste sweater + exclusive investor badge  + private Slack channel with access to the core team

    VIP Level

    Includes all contributor level perks, plus additional access to the founding team. [travel not included]

    $15,000 Invested - Invitation to our annual holiday event in NYC

    $50,000 Invested - Private dinner with founders + Invitation to annual holiday event in NYC

    It is advised that you consult a tax professional to fully understand any potential tax implications of receiving investor perks before making an investment.

    Financial Discussion


    Taste Labs, Inc. (“the Company”) was incorporated on January 8, 2018 under the laws of the State of Delaware, and is headquartered in New York, New York. The Company provides personalized recommendations through its subscription‐based app.

    The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). In the opinion of management, all adjustments considered necessary for a fair presentation have been included. All such adjustments are normal and recurring in nature. The Company’s fiscal year‐end is December 31.

    The accompanying consolidated financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the recoverability of assets and the satisfaction of liabilities in the normal course of business.

    The Company has incurred losses from inception of approximately $126,612 which, among other factors, raises substantial doubt about the Company's ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent upon management's plans to raise additional capital from the issuance of debt or the sale of stock, its ability to commence profitable sales of its flagship product, and its ability to generate positive operational cash flow. The accompanying financial statements do not include any adjustments that might be required should the Company be unable to continue as a going concern.

    Liquidity and Capital Resources

    The proceeds from the Offering are essential to our operations. We plan to use the proceeds as set forth above under "Use of Proceeds", which is an indispensable element of our business strategy. The Offering proceeds will have a beneficial effect on our liquidity, as we have approximately $14,000 in cash on hand as of 3/13/19 which will be augmented by the Offering proceeds and used to execute our business strategy.

    The Company currently does not have any additional outside sources of capital other than the proceeds from the Combined Offerings.

    Capital Expenditures and Other Obligations

    The Company does not intend to make any material capital expenditures in the future.

    Trends and Uncertainties

    After reviewing the above discussion of the steps the Company intends to take, potential Purchasers should consider whether achievement of each step within the estimated time frame is realistic in their judgment. Potential Purchasers should also assess the consequences to the Company of any delays in taking these steps and whether the Company will need additional financing to accomplish them.

    The financial statements are an important part of this Form C and should be reviewed in their entirety. The financial statements of the Company are attached hereto as Exhibit B.

    Market Landscape

    Macro Environment

    Research shows that ~90% of users rely on online reviews to make purchase decisions. Millennials' trust for online reviews has even exceeded word-of-mouth. As the global trend continues to move towards content overload and subscription businesses, good product recommendations are becoming more valuable than ever. Through our freemium model, we've shown that users are willing pay for better recommendations. 

    Personalization Tech

    Recommendation tech is already a common added feature on content and e-commerce sites. A reliable recommendation engine requires data density, scientific expertise, and a lot of processing power—which can be hard to obtain. The ones who can afford it (e.g. Netflix) are limited to making recommendations for what they have in stock. As a result, users are creating different profiles on multiple sites and the data is not being properly utilized. 

    Review Sites & Apps

    The generic review and recommendation platform industry is mature and growing. Yelp expects $942M in revenue for 2018 and TripAdvisor saw $1.6B in revenue for 2017, with the majority of revenue coming from advertising and lead-generation. Other category-specific platforms like IMDB, Rotten Tomatoes, and Goodreads are housed under larger corporations such as Amazon and Comcast. Average revenue per MAU across the industry ranges from $3-10. Our goal is to transition 5-10% of generic review users onto our personalized platforms over the next 5 years. 

    Personalized Platforms

    Other players in the field include REX, Likewise, and Itcher. Early attempts of comparable businesses e.g. Hunch and MightyTV resulted in exits to eBay and Spotify. 

    Risks and Disclosures

    Industry consolidation may result in increased competition, which could result in a loss of customers or a reduction in revenue. Some of our competitors have made or may make acquisitions or may enter into partnerships or other strategic relationships to offer more comprehensive services than they individually had offered or achieve greater economies of scale. In addition, new entrants not currently considered to be competitors may enter our market through acquisitions, partnerships or strategic relationships. We expect these trends to continue as companies attempt to strengthen or maintain their market positions. The potential entrants may have competitive advantages over us, such as greater name recognition, longer operating histories, more varied services and larger marketing budgets, as well as greater financial, technical and other resources. The companies resulting from combinations or that expand or vertically integrate their business to include the market that we address may create more compelling service offerings and may offer greater pricing flexibility than we can or may engage in business practices that make it more difficult for us to compete effectively, including on the basis of price, sales and marketing programs, technology or service functionality. These pressures could result in a substantial loss of our customers or a reduction in our revenue.

    The development and commercialization of the Company’s products and services are highly competitive. It faces competition with respect to any products and services that it may seek to develop or commercialize in the future. Its competitors include major companies worldwide. The content recommendation market is an emerging industry where new competitors are entering the market frequently. Many of the Company’s competitors have significantly greater financial, technical and human resources and may have superior expertise in research and development and marketing approved services and thus may be better equipped than the Company to develop and commercialize services. These competitors also compete with the Company in recruiting and retaining qualified personnel and acquiring technologies. Smaller or early stage companies may also prove to be significant competitors, particularly through collaborative arrangements with large and established companies. Accordingly, the Company’s competitors may commercialize products more rapidly or effectively than the Company is able to, which would adversely affect its competitive position, the likelihood that its services will achieve initial market acceptance and its ability to generate meaningful additional revenues from its products and services.

    The Company’s business model is capital intensive and in the short term in particular relies significantly on the successful acquisition of users through paid marketing strategies. The amount of capital the Company is attempting to raise in this Offering is not enough to sustain the Company’s current business plan. In order to achieve the Company’s near and long-term goals, the Company will need to procure funds in addition to the amount raised in the Offering. There is no guarantee the Company will be able to raise such funds on acceptable terms or at all. If the Company are not able to raise sufficient capital in the future, it will not be able to execute its business plan, its continued operations will be in jeopardy and it may be forced to cease operations and sell or otherwise transfer all or substantially all of its remaining assets, which could cause a Purchaser to lose all or a portion of his or her investment.

    The Company does not currently hold any intellectual property and they may not be able to obtain such intellectual property. Their ability to obtain protection for their intellectual property (whether through patent, trademark, copyright, or other IP right) is uncertain due to a number of factors, including that the Company may not have been the first to make the inventions. The Company have not conducted any formal analysis of the “prior art” in their technology, and the existence of any such prior art would bring the novelty of their technologies into question and could cause the pending patent applications to be rejected. Further, changes in U.S. and foreign intellectual property law may also impact their ability to successfully prosecute their IP applications. For example, the United States Congress and other foreign legislative bodies may amend their respective IP laws in a manner that makes obtaining IP more difficult or costly. Courts may also render decisions that alter the application of IP laws and detrimentally affect their ability to obtain such protection. Even if the Company is able to successfully register IP, this intellectual property may not provide meaningful protection or commercial advantage. Such IP may not be broad enough to prevent others from developing technologies that are similar or that achieve similar results to theirs. It is also possible that the intellectual property rights of others will bar the Company from licensing their technology and bar them or their customer licensees from exploiting any patents that issue from our pending applications. Finally, in addition to those who may claim priority, any patents that issue from our applications may also be challenged by their competitors on the basis that they are otherwise invalid or unenforceable.

    The Company has a limited operating history upon which you can evaluate its performance: Since the Company’s inception in January 2018, it has been designing and developing its product. While sales efforts have begun, the Company requires additional capital to continue developing its product. Assuming the Company is able to raise sufficient capital, there are still numerous risks that may prevent or delay the start of monetization. Accordingly, the Company has no history upon which an evaluation of its prospects and future performance can be made. Its proposed operations are subject to all business risks associated with new enterprises. The likelihood of its creation of a viable business must be considered in light of the problems, expenses, difficulties, complications, and delays frequently encountered in connection with the inception of a business, operation in a competitive industry, and the continued development of advertising, promotions, and a corresponding client base. The management team anticipates that the operating expenses may increase for the near future. There can be no assurances that the Company will ever operate profitably. You should consider the Company's business, operations and prospects in light of the risks, expenses and challenges faced as an early-stage company.

    Through our operations, we collect and store certain personal information that our customers provide to purchase products or services, enroll in promotional programs, register on our website, or otherwise communicate and interact with us. We may share information about such persons with vendors that assist with certain aspects of our business. Security could be compromised and confidential customer or business information misappropriated. Loss of customer or business information could disrupt our operations, damage our reputation, and expose us to claims from customers, financial institutions, payment card associations and other persons, any of which could have an adverse effect on our business, financial condition and results of operations. In addition, compliance with tougher privacy and information security laws and standards may result in significant expense due to increased investment in technology and the development of new operational processes.

    The Company’s cash position is relatively weak. The Company currently has only $14,000 in cash balances as of 3/13/19. This equates to roughly 1.5 months of runway. The Company believes that it is able to continue extracting cash from revenue generation to extend its runway. The Company could be harmed if it is unable to meet its cash demands, and the Company may not be able to continue operations if they are not able to raise additional funds.

    The company has seen significant churn in its mobile product to date, in part as a result of their customer acquisition model. If this model is not adjusted or developed the company will expect to see continually high levels of churn.

    The ongoing testing and development of the company’s marketing strategy, products and services mean that its projections and operational metrics are difficult to attribute clearly to sustainable user and growth trends. It may prove difficult for the Company to dramatically increase the number of customers that it serves or to establish itself as a well-known brand in the competitive content recommendation space. Additionally, the product may be in a market where customers will not have brand loyalty.

    The company does not currently have any corporate partnerships and while pilots for B2B revenue sources are in the works, the company has thus far not demonstrated the ability to monetize the platform via corporate sources. It has limited operating capital and for the foreseeable future will be dependent upon its ability to finance operations from the sale of equity or other financing alternatives. There can be no assurance that the Company will be able to successfully raise operating capital. The failure to successfully raise operating capital, and the failure to effectively monetize its products, could result in bankruptcy or other event which would have a material adverse effect on the Company and the value of its shares. The Company has limited assets and financial resources, so such adverse event could put investors’ dollars at significant risk.

    The Company has engaged in Related Party Transactions. During the period of January 08, 2018 (inception) through December 31, 2018, two stockholders of the Company advanced funds for operations. These advances are non‐interest bearing. At December 31, 2018, the amount of advances outstanding is $53,699.

    The Company is currently not registered as a foreign corporation authorized to do business in New York State. The Business Corporation Law provides that a foreign corporation may not do business in New York until it is authorized to do so by the New York State Department of State. SeedInvest has not conducted any analysis to determine whether such registration is required, but failing to properly register may lead to monetary penalization, inability to initiate a lawsuit, and difficulties with licensing. There is no guarantee that the company will register to avoid possible penalization.

    General Risks and Disclosures

    Start-up investing is risky. Investing in startups is very risky, highly speculative, and should not be made by anyone who cannot afford to lose their entire investment. Unlike an investment in a mature business where there is a track record of revenue and income, the success of a startup or early-stage venture often relies on the development of a new product or service that may or may not find a market. Before investing, you should carefully consider the specific risks and disclosures related to both this offering type and the company which can be found in this company profile and the documents in the data room below.

    Your shares are not easily transferable. You should not plan on being able to readily transfer and/or resell your security. Currently there is no market or liquidity for these shares and the company does not have any plans to list these shares on an exchange or other secondary market. At some point the company may choose to do so, but until then you should plan to hold your investment for a significant period of time before a "liquidation event" occurs. A "liquidation event" is when the company either lists their shares on an exchange, is acquired, or goes bankrupt.

    The Company may not pay dividends for the foreseeable future. Unless otherwise specified in the offering documents and subject to state law, you are not entitled to receive any dividends on your interest in the Company. Accordingly, any potential investor who anticipates the need for current dividends or income from an investment should not purchase any of the securities offered on the Site.

    Valuation and capitalization. Unlike listed companies that are valued publicly through market-driven stock prices, the valuation of private companies, especially startups, is difficult to assess and you may risk overpaying for your investment. In addition, there may be additional classes of equity with rights that are superior to the class of equity being sold.

    You may only receive limited disclosure. While the company must disclose certain information, since the company is at an early-stage they may only be able to provide limited information about its business plan and operations because it does not have fully developed operations or a long history. The company may also only obligated to file information periodically regarding its business, including financial statements. A publicly listed company, in contrast, is required to file annual and quarterly reports and promptly disclose certain events — through continuing disclosure that you can use to evaluate the status of your investment.

    Investment in personnel. An early-stage investment is also an investment in the entrepreneur or management of the company. Being able to execute on the business plan is often an important factor in whether the business is viable and successful. You should be aware that a portion of your investment may fund the compensation of the company's employees, including its management. You should carefully review any disclosure regarding the company's use of proceeds.

    Possibility of fraud. In light of the relative ease with which early-stage companies can raise funds, it may be the case that certain opportunities turn out to be money-losing fraudulent schemes. As with other investments, there is no guarantee that investments will be immune from fraud.

    Lack of professional guidance. Many successful companies partially attribute their early success to the guidance of professional early-stage investors (e.g., angel investors and venture capital firms). These investors often negotiate for seats on the company's board of directors and play an important role through their resources, contacts and experience in assisting early-stage companies in executing on their business plans. An early-stage company may not have the benefit of such professional investors.

    Representatives of SI Securities, LLC are affiliated with SI Advisors, LLC ("SI Advisors") Representatives of SI Securities, LLC are affiliated with SI Advisors, LLC ("SI Advisors"). SI Advisors is an exempt investment advisor that acts as the General Partner of SI Selections Fund I, L.P. ("SI Selections Fund"). SI Selections Fund is an early stage venture capital fund owned by third-party investors. From time to time, SI Selections Fund may invest in offerings made available on the SeedInvest platform, including this offering. Investments made by SI Selections Fund may be counted towards the total funds raised necessary to reach the minimum funding target as disclosed in the applicable offering materials.

    Taste's Form C

    The Form C is a document the company must file with the Securities and Exchange Commission, which includes basic information about the company and its offering and is a condition to making a Reg CF offering available to investors. It is important to note that the SEC does not review the Form C, and therefore is not recommending and/or approving any of the securities being offered.

    Download Taste's  Form C

    Frequently Asked Questions

    About Side by Side Offerings
    What is Side by Side?

    A Side by Side offering refers to a deal that is raising capital under two offering types. This Side by Side offering is raising under Regulation CF and Rule 506(c) of Regulation D.

    What is a Form C?

    The Form C is a document the company must file with the Securities and Exchange Commission (“SEC”) which includes basic information about the company and its offering and is a condition to making a Reg CF offering available to investors. It is important to note that the SEC does not review the Form C, and therefore is not recommending and/or approving any of the securities being offered.

    Before making any investment decision, it is highly recommended that prospective investors review the Form C filed with the SEC (included in the company's profile) before making any investment decision.

    What is Rule 506(c) under Regulation D?

    Rule 506(c) under Regulation D is a type of offering with no limits on how much a company may raise. The company may generally solicit their offering, but the company must verify each investor’s status as an accredited investor prior to closing and accepting funds. To learn more about Rule 506(c) under Regulation D and other offering types check out our blog and academy.

    What is Reg CF?

    Title III of the JOBS Act outlines Reg CF, a type of offering allowing private companies to raise up to $1 million from all Americans. Prior capital raising options limited private companies to raising money only from accredited investors, historically the wealthiest ~2% of Americans. Like a Kickstarter campaign, Reg CF allows companies to raise funds online from their early adopters and the crowd. However, instead of providing investors a reward such as a t-shirt or a card, investors receive securities, typically equity, in the startups they back. To learn more about Reg CF and other offering types check out our blog and academy.

    Making an Investment in Taste
    How does investing work?

    When you complete your investment on SeedInvest, your money will be transferred to an escrow account where an independent escrow agent will watch over your investment until it is accepted by Taste. Once Taste accepts your investment, and certain regulatory procedures are completed, your money will be transferred from the escrow account to Taste in exchange for your securities. At that point, you will be a proud owner in Taste.

    What will I need to complete my investment?

    To make an investment, you will need the following information readily available:

    1. Personal information such as your current address and phone number
    2. Employment and employer information
    3. Net worth and income information
    4. Social Security Number or passport
    5. ABA bank routing number and checking account number (typically found on a personal check or bank statement)

    If you are investing under Rule 506(c) of Regulation D, your status as an Accredited Investor will also need to be verified and you will be asked to provide documentation supporting your income, net worth, revenue, or net assets or a letter from a qualified advisor such as a Registered Investment Advisor, Registered Broker Dealer, Lawyer, or CPA.

    How much can I invest?

    An investor is limited in the amount that he or she may invest in a Reg CF offering during any 12-month period:

    • If either the annual income or the net worth of the investor is less than $100,000, the investor is limited to the greater of $2,000 or 5% of the lesser of his or her annual income or net worth.
    • If the annual income and net worth of the investor are both greater than $100,000, the investor is limited to 10% of the lesser of his or her annual income or net worth, to a maximum of $100,000.

    Separately, Taste has set a minimum investment amount of US $500.

    Accredited investors investing $20,000 or over do not have investment limits.

    After My Investment
    What is my ongoing relationship with the Issuer?

    You are a partial owner of the company, you do own securities after all! But more importantly, companies which have raised money via Regulation CF must file information with the SEC and post it on their websites on an annual basis. Receiving regular company updates is important to keep shareholders educated and informed about the progress of the company and their investment. This annual report includes information similar to a company’s initial Reg CF filing and key information that a company will want to share with its investors to foster a dynamic and healthy relationship.

    In certain circumstances a company may terminate its ongoing reporting requirement if:

    1. The company becomes a fully-reporting registrant with the SEC
    2. The company has filed at least one annual report, but has no more than 300 shareholders of record
    3. The company has filed at least three annual reports, and has no more than $10 million in assets
    4. The company or another party purchases or repurchases all the securities sold in reliance on Section 4(a)(6)
    5. The company ceases to do business

    However, regardless of whether a company has terminated its ongoing reporting requirement per SEC rules, SeedInvest works with all companies on its platform to ensure that investors are provided quarterly updates. These quarterly reports will include information such as: (i) quarterly net sales, (ii) quarterly change in cash and cash on hand, (iii) material updates on the business, (iv) fundraising updates (any plans for next round, current round status, etc.), and (v) any notable press and news.

    How can I sell my securities in the future?

    Currently there is no market or liquidity for these securities. Right now Taste does not plan to list these securities on a national exchange or another secondary market. At some point Taste may choose to do so, but until then you should plan to hold your investment for a significant period of time before a “liquidation event” occurs. A “liquidation event” is when Taste either lists their securities on an exchange, is acquired, or goes bankrupt.

    How do I keep track of this investment?

    You can return to SeedInvest at any time to view your portfolio of investments and obtain a summary statement. If invested under Regulation CF you may also receive periodic updates from the company about their business, in addition to monthly account statements.

    Other General Questions
    What is this page about?

    This is Taste's fundraising profile page, where you can find information that may be helpful for you to make an investment decision in their company. The information on this page includes the company overview, team bios, and the risks and disclosures related to this investment opportunity. If the company runs a side by side offering that includes an offering under Regulation CF, you may also find a copy of the Taste's Form C. The Form C includes important details about Taste's fundraise that you should review before investing.

    How can I (or the company) cancel my investment under Regulation CF?

    For offerings made under Regulation CF, you may cancel your investment at any time up to 48 hours before a closing occurs or an earlier date set by the company. You will be sent a reminder notification approximately five days before the closing or set date giving you an opportunity to cancel your investment if you had not already done so. Once a closing occurs, and if you have not canceled your investment, you will receive an email notifying you that your securities have been issued. If you have already funded your investment, your funds will be promptly refunded to you upon cancellation. To cancel your investment, you may go to your account's portfolio page by clicking your profile icon in the top right corner.

    What if I change my mind about investing?

    If you invest under any other offering type, you may cancel your investment at any time, for any reason until a closing occurs. You will receive an email when the closing occurs and your securities have been issued. If you have already funded your investment and your funds are in escrow, your funds will be promptly refunded to you upon cancellation. To cancel your investment, please go to your account's portfolio page by clicking your profile icon in the top right corner.