What’s happening?
Today, we launch our online campaign on SeedInvest.com. We’ve primarily bootstrapped our company thus far, and have recently closed $250k of our $500k funding round. It’s at this point that we know, in order to fulfill the vision of WhoseYourLandlord, we need to lean on our community to help us do so.
Why now?
We are in a prime position to raise capital to expedite the growth process of WYL, and we know we need our community, our users, our supporters to be evangelists of our cause. We’ve built WYL to empower and to inform the millennial renter. We’ve been able to amass over 10,000 reviews and 310,000 users in the last few years. The time is now for us to pin our ears back and build something that fully services renters all across America and allows for us to create a stronger voice for just, fair, and quality living. Seeing as how the homeownership rate is down 7% amongst millennials, over the last decade, and down another 10% amongst folks aged 35 – 44 - we need to become better-prepared consumers, and we need to strengthen our collective voice.
What will we do with the capital?
- Create a more engaging platform allowing renters to build robust profiles enabling them to message each other
- Produce more video and written content particular to the next neighborhoods and cities of focus
- Begin the production of a functional app that renters can keep with them at all times
- Host quarterly WYL Community events to encourage more connectivity between millennial renters
Why should you invest?
Thanks to the Obama Administration and the changes to the JOBS Act in spring 2015, anyone can now invest in companies. Investing is no longer reserved for the fat cat with deep pockets. And, we are no longer reliant on accredited investors – folks making $200,000 annually and/or having assets worth $1M+. This is the perfect opportunity for millennials, communities of color, and for people with new money to get their toes wet in the investment game. As opposed to waiting until you have some crazy depth to your wallet, putting your $25,000 bet on one company, and then watching it go up in flames – invest and support companies with micro investments like $500, $1k, or $5k. Learn the language. Learn how to vet entrepreneurs. Learn how to let your money make you more money. We need to be the future we want to see. So, instead of us waiting around for established investors to get a product many of them will never have to use, we figured it made the most sense to go right to the people. The reality is, the American Dream is dead. Economic disparity is blatant. And, millennials aren’t owning homes at the same rate as their parents. If the dream has been diminished, let’s work together to ensure that what’s left of it doesn’t ignite in flames. The way you do that is by Investing in a company that’s looking to inform, embolden, and build your community. The way you do that is by investing in WhoseYourLandlord.With Love,
Ofo
Visit Seedinvest.com to contribute