A crowd funding platform that makes it possible for everyone to have their App Ideas developed, published and profitable.
Consumers & SMB’s have great ideas for mobile apps, but can’t afford to pay app developers or to become one.
App Developers are running out of ideas but are unwilling to work with consumers as contractors.
No easy way exists to connect app ideas of consumers with developers such that these ideas become successful apps.
A platform where App Ideas meet developers and their future users.
Many individuals or companies with ideas for mobile applications (apps), do not have the resources (funds, knowledge, market access) to transform these ideas into real apps. SellanApp makes it possible for all these ideas to become reality. Using an innovative crowd-funding model, SellanApp connects the creative community with developers worldwide, whereby the community of future users fund the development
In short, with SellanApp everybody can transform their app ideas into a revenue generating app in the App Store.
The community pledges funds towards the development of a certain App Idea (crowd-funding). In return, the author of the App Idea (producer) offers pledgers a share in the App’s revenue or specific rewards like ‘in app presence’. During the funding period the amount pledged grows.
Within this period any of the connected developers (all contract partners of SellanApp) can select an
App Idea for development against the total amount pledged at that time, effectively creating an auction between the creative and the development communities worldwide, whereby future users of the apps participate actively. The crowd-funding is-all or nothing-, with pledgers only being charged if a developer actually selects the app for development.
After several steps, the newly developed app will be submitted to the Apple App Store by SellanApp.
Revenue generated will then be forwarded by SellanApp to the producer and the pledgers (pro-rata their pledge).
We enable the producer to shape their idea and present it to the community and developers, by offering an advanced iPad App. Anybody can use it to easily create a playable mockup that can be uploaded simply and shared on our web platform.
Our Pitch Deck is available in the documents section.
For all other questions about our service, please refer to the Q&A section or contact us by email: [email protected]
Our intended audience is the global market of Apple iOS application users and developers (iPhone, iPad, iPod touch). This market has over 400 million users, and over 184.000 registered developers.
Over 300 apps are downloaded per second with an average purchase price of $2.00. These numbers are expected to increase exponentially over the next few years.
A key issue within the market is the volume and discoverability of apps - in that there are so many apps, it is difficult for a developer to gain traction through being discovered naturally by users. As such, the market is looking for solutions to increase the average quality and visibility of the apps within the App Store. As SellanApp presents a strong community and since we believe it takes a crowd to raise an App, we are in the position to offer unique solutions in app discovery and marketing.
More and more consumers and businesses are prepared to enter the market, not only as consumer but also as producer and developer. This results in fragmentation resulting in a more complex environment.
A platform which brings together producers, developers and consumers provides added value in this market.
SellanApp has proved that there is a (substantial) creative potential within businesses and consumers not having the resources to develop successful apps themselves. They crave to create a community which helps them to realize their potential.
WHAT HAS BEEN REALISED
SellanApp realized the availability of an iPad App and web platform including the associated technical, legal and, development and organizational infrastructure. The team, led and formed by a very experienced CEO/entrepreneur, is international and includes over a decade of experience in high end London and US based technology start ups. After a two month private beta period, the service has been in public beta since November 2012.
Since launch, over 100 App Ideas were submitted, Over 20 where published on the site and 13 are now funded and 3 apps already have been made available in the App Store. Over 16 developers are now connected with the platform, while many more have shown interest. This shows ‘proof of concept’ and strong traction from the community.
SellanApp was nominated as ‘one of europe’s best startups’ during a venture capital event last year, and was one of the finalists during a ‘startup-rally’ organized by The Next Web SellanApp was also named one of 10 best Dutch startups in the Accenture Innovations Awards. The iPad app has received high praise from users and has 4.5 stars in the App Store.
SellanApp receives 10% of pledges on all successful (i.e. selected) app ideas and 5% of all revenue generated by the apps in the App Store. Since all funds flow via the accounts of SellanApp there is no debt risk while we have get access to working-capital.
In previous rounds EUR 400,000 has been raised. The last seed round closed at at pre-money valuation of EUR 665K.
SellanApp seeks additional funds by means of crowd-funding to offer 'the crowd' the opportunity to participate in the success of SellanApp, and to extend it's number of 'ambassadors' in the world supporting SellanApp. It's our ambition to 'practice what we preach' and to have crowd-funded equity play a large role in the finance or our company
The first seed round was successfully funded by means of equity crowd funding via similar platform as FundedByMe in The Netherlands (Symbid), where SellanApp is still the most successful campaign having attracted 260 investors worldwide.
The issue of shares will be based on a pre-money valuation of EUR 2,471,408 or EUR 8 per share. Please find a report supporting this valuation in the documents section. Further details including a cap-table is presented in the Investment Memorandum.
Note that the post-money valuation of EUR 2,971,408 is based on a EUR 500K investment, or the total of equity we hope to raise on both Symbid.com and FundedByMe.com.
USE OF PROCEEDS
The proceeds will be utilized for:
- Continued development of both the web-platform and iPad App (execution of the road-map);
- Growth of the Team to handle demand;
- Investments in (online) marketing activities;
- Going concern for the next efficiency phase (stage 3, see graph below).
Due to it’s confidential nature we cannot disclose our complete roadmap publicly. However we foresee:
- Rollout of a novel referral program;
- The ability to showcase and use fully playable prototypes of App Ideas on the web;
- Implementation of an advanced dashboard serving the communication between the producer and developer;
- The possibility to view app ideas directly on our iPad App and to pledge on them;
- The possibility to access and update App Store data from the iPad App;
- Upgrades in the overall user experience and style of both the web and iPad platform;
Combined this will create a whole new ecosystem for the (co) creation, promotion, funding of and monetizing on mobile apps.
The Company (a Dutch limited company or 'BV') has a US based administrative (Delaware) LLC founded specifically for access to specific online payment services available in the USA, and as a footprint to accommodate foreign investments. SellanApp is structured largely according as a modern US based startup issuing common shares and prefs with commonly used protections and preferences for investors.
As we want to ‘practice what we preach’, we successfully closed the first financing round using equity crowd-funding via Symbid (the Netherlands) with 260 investors participating. These investors are all member of SellanApp Cooperative U.A. which holds shares directly in SellanApp BV.
To see how this works look here.
SellanApp has a very experienced CEO who is also founder of the company. There are three more people working for SellanApp, a creative/community manager (CCM), COO and a designer. SellanApp cooperates with development teams in the Ukraine (web-platform) and France (iPad App).
We now seek EUR 500K using both FundedByMe.com and Symbid.com as equity crowd-funding platforms to address the community. For this, we set a target of EUR 400K on FundedByMe.com and EUR 100K on Symbid.com.
Although we use two platforms, this is a single campaign!
During the campaign you can use both FundedByMe.com and Symbid.com to invest in SellanApp.com however:
- Please use Symbid.com if you want to invest any amount between EUR 20 to EUR 10,000K;
- Please use FundedByMe.com if you want invest EUR 10,000 or more.
As we did in our first round, we recognize two types of investors in this crowd-funding round:
- Participants investing EUR 50,000 or more will be shareholders of SellanApp BV (the Netherlands) (direct shareholders);
- Participants investing less will be made a member of “SellanApp Cooperative U.A.” to they can jointly represent their interests (indirect shareholders). This solely for the practical purpose of avoiding having to deal with hundreds of individual shareholders at this stage.
SellanApp Cooperative U.A. is a direct shareholder of SellanApp BV holding the same type of preferred shares as held by direct investors.
All shareholders are eligible to receive an interest of 5% per annum over the amount invested.
More information including the proposed capitalization and current Employees Stock Option Pool and the vesting of interest is available in the investment Memorandum, available in the documents section.
￼Upon closing of this finance round, the company will be funded up to stage 4 from which aggressive growth will be pursued after closing a Series A round. SellanApp is actively monitored by large VC’s who have shown interest in investing against a higher valuation when SellanApp is successful in the coming phase.
Other conditions are stated in the proposed Shareholders Agreement which is available upon request.
You can an follow our progress for the joint campaign here: