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FlitWays

Pre-book transportation services in 110 cities worldwide

Amount Raised

$30,000

Investors

1

Days Left

Closed

Regulation D Offering

flitways.com
Los Angeles CA
Following for updates
    Founding Team
    Tobi Mac
    Founder and CEO

    MBA. Engineering Management from Cal. State University. Years of extensive experience in Business Information Technology. B.Eng. in Information Technology.

    MBA. Engineering Management from Cal. State University. Years of extensive experience in Business Information Technology. B.Eng. in Information Technology.

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    Investors & Advisors
    Matt Zito
    Investor, Advisor

    Founder @ TravelStartups.co
    A veteran travel entrepreneur, Managing Partner and Lead Advisor for the Travel Startups Incubator

    Founder @ TravelStartups.co
    A veteran travel entrepreneur, Managing Partner and Lead Advisor for the Travel Startups Incubator

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    Zacky Hamraz
    Investor, Business Development Manager

    Years of experience in Business Development
    Business Economics and Finance Degree from University of Phoenix

    Years of experience in Business Development
    Business Economics and Finance Degree from University of Phoenix

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    Les Allan
    Advisor

    Managing Member, based in Los Angeles, of the Los Angeles Investment Company, a special situation, multi strategy investment company and advisory.

    Managing Member, based in Los Angeles, of the Los Angeles Investment Company, a special situation, multi strategy investment company and advisory.

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    Jessica Hoffman
    Attorney

    Help entrepreneurs bring their big ideas to life. Mainly focusing on early-stage companies, I advise on entity structure and formation, equity and non-equity financing, founder issues, first hires and employment issues, trademarking, and creative solutions to problems that are unique to startups.

    Help entrepreneurs bring their big ideas to life. Mainly focusing on early-stage companies, I advise on entity structure and formation, equity and non-equity financing, founder issues, first hires and employment issues, trademarking, and creative solutions to problems that are unique to startups.

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    Hoang Toan
    Software Director

    PH.D in Computer Science. Over 17 years of experience in Software development. Leads several software development projects. Years of experience in Start-up product development.

    PH.D in Computer Science. Over 17 years of experience in Software development. Leads several software development projects. Years of experience in Start-up product development.

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    Reg D Offering Summary
    Investors in Regulation D offerings must be accredited and are not subject to SEC investment limits.
    Amount Raised
    $30,000.00
    Investors
    1
    Security Type
    FlashSeed Preferred
    Shares Offered
    2,000,000
    Offering Min
    $150,000
    Offering Max
    $1,000,000
    Pre-Money Valuation
    $5,000,000
    Max Equity Offered
    16.67%
    Price Per Share
    $0.50
    Option Pool
    N/A
    Reg D Offering Summary (SPV)
    Investors in Regulation D offerings must be accredited and are not subject to SEC investment limits.
    Amount Raised
    $0.00
    Investors
    0
    Security Type
    FlashSeed Preferred
    Shares Offered
    2,000,000
    Offering Min
    $0
    Offering Max
    $1,000,000
    Pre-Money Valuation
    $5,000,000
    Max Equity Offered
    16.67%
    Price Per Share
    $0.50
    Option Pool
    N/A
    Frequently Asked Questions
    What makes you guys different from Uber, Lyft and the rest?
    Services like Uber and Lyft allow commuters to hail a ride on demand, FlitWays, on the other hand is a pre-booking service allowing travelers and businesses to schedule and plan a travel well in advance, avoiding scarcity and price surcharging,
    Why should I invest in FlitWays?
    Based on our track record, we know how to utilize invested capital. Travel Startups Incubator invested $25,000 in FlitWays and we used the $25,000 investment to increase our revenue by 430% within 4 months . FlitWays has been maintaining a constant sales growth of 30 – 43%. The company is acquiring hundreds of new customers on monthly basis with its limited marketing budget. Within the last 9 months, FlitWays went from a $120,000 Annual Revenue to a $550,000 Annual Revenue company (i.e., 460% sales growth). FlitWays currently generates over 1,200 bookings (i.e. $43,000 – $52,000 in sales) per month with a marketing budget of $700. Imagine what we can do with a bigger marketing budget.
    How big is the Pre-booking market?
    Research on Forbes shows that 73% of travelers prefer to pre-book their ride in advance. Our goal is to dominate the pre-booking segment of the ground transportation market.
    Can brands like Uber compete with FlitWays?
    No, as brands like Uber and Lyft business model cater towards on-demand service, the likelihood is very low. Their infrastructure is built to support a model which will make it complicated for them to switch to or add a pre-booking service. A successful startup like Uber would rather acquire FlitWays instead of trying to reinvent the wheel.
    Exit Strategy
    Sell to ride-share brands like Uber or Lyft, or other major Online Travel Agencies like Kayak, booking.com, tripadvisor.
    Marketing Strategy
    Most of our consumers are acquired through a partnership with travel vendors, which gives us the opportunity to minimize marketing cost and focus on establishing more partnerships. We also plan to promote our brand using B2C marketing concept to gain brand awareness and exposure.
    Competitive Advantage
    FlitWays allow travelers to pre-book a ride in advance, and have a driver prepared for the traveler instead of using brands like Uber to hail on demand. By pre-booking a ride in advance, travelers will have a well planned trip without having to worry about vehicle availability, scarcity or price surcharging. Furthermore, FlitWays simplifies the process of booking a ground travel by building direct integration with travel vendors to offer a seamless ground travel booking to all travelers.
    Target
    B2C – online travelers, leisure and business travelers and commuters. B2B – Travel vendors such as OTAs, Airlines, Hotels, Car Rentals, Travel Managements, Travel Agencies, GDS. The everyday global traveler. Open to new technology partners like FlitWays to offer complete door to door service for my customers.
    How do you make money?
    We generate 25% successful fee from our B2C transaction. We have a revenue share model with B2B resellers that allow us to generate 15% successful fee every time a reseller resells our service to their travelers (e.g. OTAs, Airlines, Hotels, travel agents and many more).
    Size your Potential Market of Customers
    Our target is to dominate the 5% ground travel booking segment of the $1.7 trillion travel industry.
    What is your technology? Is it proprietary? Can you/have you patented it?
    Our technology is proprietary and was built from scratch. We can patent some unique business logics
    Is your Travel Startup live? Are you generating revenue? What are some of your key metrics? Sales to date, monthly growth rate, sales/customers/users, mobile app downloads.
    • $550k revenue positive for 2015 • 6,000 Mobile Downloads • 1200 Recurring Customers • 43% Monthly Sales growth • 15,432 Vehicles, Direct Contracts, No-aggregation • 352 Airports in 110 Global Major Cities • Mobile App for Consumer Revenue Channel • API Integration for Travel Vendors
    Comments

    Currently No Comments
    Term Sheet
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    FlashSeed Preferred Subscription Agreement
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    Investors' Rights Agreement
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    Amended and Restated Certificate of Incorporation
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    FlashFund LLC Agreement
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