Idle on WeFunder | Deal Memo

Jun 5, 2021 2 min read
Invest in Idle: Idle is a peer to peer smartphone app that enables users to rent and rent out Idle goods | Wefunder
Idle is a peer to peer smartphone app that enables users to rent and rent out Idle goods

Company Overview

Problem Addressed: Traditional renting methods involve limited inventory, lots of paperwork, restricted delivery options, high prices to cover overhead costs, and high wait times to check out and check in items.

The Product: Idle is a peer to peer smartphone app that enables users to rent and rent out Idle goods at low rental prices, and with a quick and simple check-in and check-out process.

Deal Terms

  • Security: Priced Round
  • Pre-Money Valuation: Not provided yet.
  • Min. Investment: $100

(Data as of June 2021.)

Idle: WeFunder Campaign Highlights

1) Fully developed app with an existing user base with over 175,000 installs to date.

2) A front-runner in one of the fastest growing global markets: the emerging sharing economy.

3) Participation in the sharing economy promotes behaviors that reduce CO2 emissions and waste.

4) Renting and renting out your items can be a more attractive alternative to buying new.

5) Over $7,000,000 in inventory already listed by owners.

6) Completed YC Online Startup school. Co-Founder is a tech veteran with major exits to his credit.

7) Held the top position in the shopping category in Google Play store in 2020.

Did I Invest In Idle?

I’m still in the process of writing a full deal report and decide whether or not I will invest in Idle on WeFunder. At Angel Notes, I review 100+ pitches on 10+ platforms every month and send a detailed report every Saturday to subscribers of the Angel Notes newsletter (you can join through the form below). See you soon!

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