GO
Loading...

Power Pitch

Company Profile: Crowdtilt

COMPANY Profile

Name/Title/Company:

James Beshara, Crowdtilt CEO and Co-Founder

What is the mission of your company?

We exist to make group experiences and group purchases as easy as possible.Whether it's a group outing for a friend's birthday, a bachelorette trip to celebrate a friend getting married, or friends and neighbors collaborating on a community project, we want to help groups do more together.

Explain your business model - how do you make money?

Crowdtilt provides individuals and organizations with a platform where they can collect, fundraise or pool money for anything from a party bus all the way to a fundraiser for the Red Cross. If the group reaches the goal set by the organizer, then all the credit cards of the group are charged, and Crowdtilt earns a 2.5% fee. No one is charged anything if the goal isn't reached.

Who do you compete with in this space and how are you different?

For group activities, major competitors are PayPal, Eventbrite, cash and checks. Collecting PayPal payments or checks from 30 friends for the tailgate on Saturday afternoon is cumbersome, complex and can be extremely frustrating. But selling tickets to your friends for a tailgate or party-bus is impersonal and transactional. We built Crowdtilt by taking our favorite elements of crowdfunding models on the web and provided them for you and your group of friends instead. For groups, it is the only platform that not only helps you collect the money, but lets friends pool money to make the experience happen in the first place. Psychologically and socially, it feels much more natural to pool money together for a common objective than an organizer charging friends tickets.

Where are your headquarters?

San Francisco

Number of full-time employees?

11

Year Founded?

2011

Funds Raised?

$2.1 million

Key Investors?

SV Angel, Y Combinator, Crunch Fund, Felicis Ventures, DCM Ventures, Paul Buchheit, Alexis Ohanian, and many others.

Prior experience

Crowdtilt is James' second crowdfunding-type model. Previously he built dvelo.org, a site developed for poverty alleviation organizations to group-fund objectives in developing countries. Crowdtilt was basically an expansion on this previous site and service. Crowdtilt's CTO and co-founder Khaled Hussein was a team member of the startup WebMail.us, which was later acquired by Rackspace. At Rackspace, Khaled led corporate strategy at the age of 26.

Featured

Contact Power Pitch

The Power Pitch

  • CNBC's "Power Lunch" is giving CEOs a chance to make a 60 second "Power Pitch" aimed to convince a panel of experts that their start-up has what it takes to succeed.

Power Lunch

Technology

  • Apple CEO Tim Cook speaks during an Apple special event at the Flint Center for the Performing Arts on September 9, 2014 in Cupertino, California.

    Shortly after the opening on Friday the company's share price traded above $120. It's previous high had been $119.

  • A woman uses Google web search on a tablet computer.

    Question-and-answer site Quora has a long way to go to build a big business. But it plans to get there without relying on Google.

  • An attendee wears an Oculus Rift HD virtual reality head-mounted display as he plays "EVE: Valkyrie," a multiplayer virtual reality dogfighting shooter game, at the Intel booth at the 2014 International CES in Las Vegas.

    It's not just tech giants moving fast into this technology, which lets users experience totally immersive, computer-simulated environments.

Small Business