- Investors include McClatchy, Krillion Ventures, Knight Enterprise Fund, Jason Calacanis, and Mark Kingdon (Quixotic Ventures).
- Customers include Ford, Miami-Dade County, Citi, wework, and Baptist Health South Florida.
- Received a grant from Bill & Melinda Gates Foundation.
- 408k in monthly newsletter opens, grew 100% from 10/2017 to 10/2018.
- $274K in 3Q2018 Revenue, grew 37% from 3Q2017 (has not been reviewed by an independent CPA).
- Total Round Size: US $2,500,000
- Seed :
- Minimum Investment: US $5,000 per investor
- : Convertible Note
- US $12,000,000 :
- : US $1,000,000
The future is built in cities. We believe that cities are centers of innovation, creativity, and exploration, and they're growing like never before, driven by a new generation of young people. That generation wants to know what's happening and what to do where they live, but the system is broken. Based on our research, they spend more time and money on local experiences, but are the least likely to feel attachment to their city.
Today, they have to use a disjointed mix of search, apps, event listings, and traditional news media to find a sense of place. Or to find the best tacos. They need a new model to emerge and serve them. Plus, businesses spend $150B a year trying to reach them where they live.
We’re here to help them keep up, get involved, and make connections that build deep, lasting relationships. We’re here to help a generation of digital nomads live like they live here.
We built a new model for locals focused on curation and community, starting with email newsletters.
We use our platform to create local brands designed to fit the voice and tone of the cities they serve. We’re in four cities today:
- Miami with The New Tropic (launched Jan 2015)
- Seattle with The Evergrey (launched Dec 2016)
- Portland with Bridgeliner (launched Apr 2018)
- Orlando with Pulptown (launched Apr 2018)
Our newsletters are the center of a brand that builds deep, loyal user relationships. Each brand helps users navigate and explore the city with a mix of news and events curation, contributed content, and original projects like neighborhood or voter guides. 1-2 person local teams use our technology to create the product and grow the community.
It’s working: $274k in Q3 revenue(cash basis), and 408k in monthly newsletter opens, grew 100% (from 10/2017 to 10/2018).
We have low churn, and strong organic acquisition, because users love our products and form a deeper, more lasting relationship with us than with traditional media.
- Monthly churn <3.2% across our cities(based on data from 11/2017-11/2018)
- Net promoter score of 69, considered "Excellent" on the -100 to 100 NPS scale
- 88% of our users come from organic acquisition
- 32.7% daily open rate average across our cities
There are more than 100 markets in the U.S. like our current ones, and we estimate that we can launch in a new city for less than $150k thanks to our platform.
We've built the platform and playbook to enable lean, rapid scale, serving new communities of users and building lasting relationships along the way.
While others in media are focused on manual content, we're taking a platform approach, building tooling and data to make our work more efficient and effective, while maintaining the localized branding and relationships that can create long-term value. Our technology includes:
- Self-service advertising platform allows easy three-step checkout, automated placement, metrics and reporting (now more than 30% of our revenue).
- Newsletter builder that cuts production time in half, automates reporting & content.
- Referral tools that including ambassador program, referral leaderboard, and subscriber growth tools for email.
We have a clear roadmap to make us the leading platform for local engagement.
As we grow, we're building user profiles, content personalization, surveying, automated aggregation, and other datasets to help us serve users more effectively and personally.
We're building our revenue on this intelligence too:
- Self-service advertising uses our email engagement to provide a direct channel for businesses to reach active locals
- Our brand campaigns, priced on a recurring basis at $5,000-$20,000 per month, provide deeper custom engagement through our social channels, emails, and events
- Our membership program (in beta Q4 2018) gives our most active users new ways to get involved with our communities
We believe the upside in local is significant, and we’re positioned to enter this market in every growing city. Newspapers were a $30B business, proving the value of local information, and our goal is to replace them. Social ad platforms prove there’s value in targeted, engaged users, but they can’t dig in at a local level.
We’re joining these opportunities to own the future of local engagement. And help people find great tacos.
We met and started WhereBy.Us having the same need we now serve for our users. We were new to Miami, trying to make sense of a changing city and figure out what to do, where to go, and how to get plugged in. We had partners who were from Miami, and had the same need (Miami's quite a different place than it was in the 1980s). Feeling connected to the local community is a vital part of our lives, but the models for building that connection haven't evolved in a century. We thought that was wrong, and in a moment where we seem to have more divisions than ever, we thought it needed changing.
We found a lot of locals had this problem, too, so we started hosting monthly events to get people together talking about the future of the city. Along the way, we found a huge, unserved need for local information and engagement. So we built a new approach.
Today, we are are a group with deep experience in media, community-building, and platform development.
Frequently Asked Questions
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 WhereBy.Us. Once WhereBy.Us accepts your investment, and certain regulatory procedures are completed, your money will be transferred from the escrow account to WhereBy.Us in exchange for your securities. At that point, you will be a proud owner in WhereBy.Us.
Preferred equity is usually issued to outside investors and carries rights and conditions that are different from that of common stock. For example, preferred equity may include rights that prevent or minimize the effects of dilution or grants special privileges in situations when the company is sold.
A convertible note is a unique form of debt that converts into equity, usually in conjunction with a future financing round. The investor effectively loans money to a startup with the expectation that they will receive equity in the company in the future at a discounted price per share when the company raises its next round of financing.
To learn more about startup investment types check out “How to Choose a Startup Investment” in our academy.
To make an investment, you will need the following information readily available:
- Personal information such as your current address and phone number
- Employment and employer information
- Net worth and income information
- Social Security Number or passport
- ABA bank routing number and checking account number (typically found on a personal check or bank statement)
Because WhereBy.Us is offering its securities 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.
Until a closing occurs, you may cancel your investment at any time, for any reason. 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 portfolio page.
Currently there is no market or liquidity for these securities. Right now WhereBy.Us does not plan to list these securities on a national exchange or another secondary market. At some point WhereBy.Us 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 WhereBy.Us either lists their securities on an exchange, is acquired, or goes bankrupt.
You can return to SeedInvest at any time to view your portfolio of investments and obtain a summary statement.
This is WhereBy.Us'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.
This investment is highly speculative and should not be made by anyone who cannot afford to risk the entire investment amount. In addition to these risks, you should carefully consider the specific information and risks disclosed in WhereBy.Us’s profile.