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Successfully funded
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Reveal is an alternatively designed dating app that allows women to browse anonymously, only becoming visible to guys they like. Following a Crowdcube seed round in June '18, we have proven the concept with 40k users and introduced a monetisation stream to generate revenue from In-App Purchases.
- Female anonymity prevents being seen by colleagues, ex's, family etc.
- 3-5 year strategic aim for acquisition
- Proven concept with 40k users, revenue stream from In-App Purchases
- Second seed raise to accelerate IAP revenue data for interested VCs
The company had £96,980.00 of SEIS remaining after the last share issue in Jan 2019.
Idea
Online dating is an evolving industry, estimated to be worth £12bn globally by 2020.
Reveal aims to provide an alternative concept with solutions to what we consider to be the most common user pains points, including 'stale' matches and female privacy concerns.
Our app combats these issues by allowing women to browse anonymously. Male users get notified when a female user likes them and can then view her profile. Men, therefore, make a more conscious decision to match or not, opposed to 'auto-swiping' yes to all female users, which research shows 60% of men do on other dating apps.
Since our first raise on Crowdcube in June '18, our user base has grown by 10 times, proving the concept is well received, especially by women.
The first round of investment was used for user acquisition, for which we attained a UAC (user acquisition cost) well below industry standard.
In Feb '19, the first monetisation stream was introduced and we are now generating revenue from IAPs (In-App Purchases).
Now that the concept has been proven and a low UAC is being achieved, we are ready for the next stage - to accelerate the IAP revenue data required to secure Series A investment to grow internationally and introduce the 2nd and 3rd revenue streams.
Reveal is free to download and premium features can be purchased.
THE MATERIALS YOU ARE SEEKING TO ACCESS ARE BEING MADE AVAILABLE BY THE COMPANY RAISING FINANCE AS IDENTIFIED ABOVE (THE "COMPANY") IN GOOD FAITH AND FOR INFORMATION PURPOSES ONLY AND SUBJECT TO THESE TERMS AND CONDITIONS. CROWDCUBE CAPITAL LTD IS AUTHORISED BY THE FCA AND CARRIES OUT DUE DILIGENCE ON EACH COMPANY THAT LISTS ON CROWDCUBE AS SET OUT HERE.
This investment opportunity is not an offer to the public and is only available to registered members of Crowdcube.com who have qualified and categorised themselves as able to invest. The investment opportunity is not directed at persons located in the United States, Canada or Japan. Any person resident outside the United Kingdom who wishes to view these materials must first satisfy themselves that they are not subject to any local requirements that prohibit or restrict access.
In particular, unless otherwise determined by the Company and permitted by applicable law and regulation, it is not intended, subject to certain exceptions, that any offering of the securities mentioned in such materials (the "Securities") by the Company would be made, or any documentation be sent in or into, the United States, Canada or Japan. There will be no public offering of the Securities in the United States.
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