TechCrunch
Target partners with Honeyfund to add cash gifts to its wedding registry
Honeyfund
Support the People You Love
Clearwater, FL
Consumer Internet
E-Commerce
Have you ever given a honeymoon contribution as a wedding gift? If so, you probably did it on Honeyfund, the most trusted honeymoon wedding gift registry. Honeyfund is expanding its popular gift platform so couples can receive financial support from friends and family for all of life’s milestones and mishaps -- like buying a home, having a baby, or even an unexpected illness.
$1,067,815
raised
2,424
Investors
$19M
Valuation
$0.92
Price per Share
$138.00
Min. Investment
Common
Shares Offered
Equity
Offering Type
$1.07M
Offering Max
0
Days Left
This offering ended on August 07, 2021 and is no longer accepting investments.
Reasons to Invest
Honeyfund has a solid history of performance -- funding one million couples, with more than $640 million in gifts from 6 million givers since 2006.
Honeyfund led a consumer shift in the $19 billion wedding industry from blenders and dishes to cash and experiences. Now we plan to lead that same shift in the larger $130 billion all occasion gift market.
The company is backed by Kevin O’Leary of Shark Tank, with advisors including the founder of Ureeka/former head of data at Facebook, and the former CMO of Uber.
Support the people you love with Honeyfund
More than a million couples have received support through Honeyfund’s existing online wedding gift registry, which gives couples the opportunity to create a wish list of honeymoon experiences, wedding-related costs, or just receive money from friends and family to support other savings goals. Honeyfunds are simple to set-up and come with 5-star customer support.
As a giver, it’s easy to visit a couple’s honeyfund page, choose a gift, and check out with a credit or debit card. The cash goes directly into the couple’s PayPal or bank account, less a small fee of about 3% for each contribution.
You can also give a digital gift card from our 150+ brand partners, which include Target, Bed Bath & Beyond, Amazon.com, Delta, Southwest, Hotels.com, Uber, Disney Fairy Tale Weddings & Honeymoons, Skyhour, Royal Caribbean and many more.
The Problem
People need assistance with their major life events, and they crave experiences over things
In 2005 when the founders were paying for their own wedding, they didn’t have the budget left over for the once-in-a-lifetime honeymoon, and going into debt wasn’t an option. So they created a makeshift honeymoon registry, and their wedding guests loved it, giving more than $5,000 and begging for a similar solution for other weddings. With that, Honeyfund was born.
Like the founders, today couples are paying for their own weddings with little budget left over for the honeymoon or life beyond. They care about starting life together without debt, and they simply don’t need nor value the material items on a typical wedding registry. In other words, they crave experiences over things.
GIF
With these two universal shifts that we observed in consumer behavior -- couples paying for their own weddings and wishing for experience-based or cash-based gifts more than things -- Honeyfund transformed the wedding gift industry. Now the company sees an opportunity to lead the same shift in life events beyond the wedding.
Let’s face it: Life for a married couple is costly and unpredictable. There are countless life events to plan for -- baby showers, anniversaries, home purchases, graduations, retirements, and deaths in the family to name a few. Close friends and family members want to be there to help with these monumental moments.
And now, the COVID-19 has placed further financial burden on us all, making it clear that anything can happen when we least expect it. What people care about now isn’t the hustle, bustle and stress of daily life. It’s the people we love. Now more than ever, we all need a place like Honeyfund to stay connected and support each other financially.
The Solution
A gift that is more than material
We created Honeyfund for everyone who longs for that dream honeymoon experience but doesn’t have the budget and doesn’t want to go into debt. After funding more than a million couples’ honeymoons with the support of 6 million givers, Honeyfund has established itself as a trusted brand in experience and cash-based gifts. And we learned a lot along the way.
Shortly after starting Honeyfund, couples started asking us if they could have a similar service for other life events. As a result, we’ve funded more than 13,000 baby showers, anniversaries, retirement parties, graduations, hardships and more.
What we learned by hosting these individual events is that the same friends and family came out to support each one. That’s why we’re building a permanent life-long funding platform that doesn’t require separate accounts and campaigns pages, unlike other crowdfunding competitors such as GoFundMe and IndieGoGo. Each personalized honeyfund account can be tailored and transformed to handle any life event, for example what was a wedding gift site can become a baby gift site.
All the friends and family that contributed to your previous events will be notified if you make a change or post an update to your honeyfund, prompting them to support you again.
One thing we’ve always heard since launching Honeyfund is, “What a cool idea! I wish I had that when I got married.” With our new life-long funding page, you can have it for anything in your life. If you didn’t use Honeyfund for your wedding -- you can sign up for a baby on the way, a milestone anniversary or birthday, even an unexpected hardship. Just invite your friends and family to visit, follow your honeyfund site and make a contribution. Your honeyfund account and all your friends and family stay with you through that event and all the others that will inevitably come your way. They’ll never have to worry about missing an important milestone in your life.
Finally, every Honeyfund gift you give or receive will earn a cash-back reward, increasing your budget for whatever life throws your way.
The Market
Evolving in a $130 billion annual gifting market
We have also capitalized on the fact that the gifting market is essentially a self-powered marketing engine. Everyone that signs up for a Honeyfund wedding registry invites, on average, 150 of their closest friends and family to their page. Each of those relationships potentially leads to additional platform users, contributing to our super low customer acquisition cost.
Further, donation-based crowdfunding has become more popular with a 2016 report from the Pew Research Center finding that 22% of American adults had contributed to a crowdsourced fundraising project, and most donors (68%) contributed to help someone in need. (source) The fact is, giving feels good. Especially when someone we love is hurting.
Our Traction
More than one million happy couples and $640 million in gifts given from 6 million givers
Since our 2006 launch, we have played host to over a million couples receiving $640 million in gifts given, from 6 million givers. Honeyfund’s innovation in crowdfunding has also been recognized by prominent media outlets and partners. In 2012, Honeyfund was named one of TIME.com’s Top 50 websites.
In 2014, we made an appearance on Shark Tank and ended up with an investor and advisor in Kevin O’ Leary, aka ‘Mr. Wonderful.’
In 2018, Honeyfund launched an exclusive partnership with Target to power honeymoon gifting on Target’s online wedding registry.
And in response to COVID-19 pandemic in 2020, we partnered with Kevin and the Jamaica Tourist Board to provide relief to wedding couples impacted by the global pandemic.
The Business Model
Steady and expanding revenue streams from partners and payment platforms
Honeyfund truly is remarkable when it comes to its business model. Unlike other crowdfunding sites, we do not charge platform fees, which is great for our customers and their friends and family. There’s just a simple processing fee of less than 3%, deducted from the amount received. There is never any fee to the giver.
Honeyfund earns revenue from the partners that help us facilitate gift payments and gift card fulfillment. For example, the average eGift Card gift of $120 results in about $10 in commissions paid by the gift card brand. And the recipient receives the full amount!
We also work closely with our gift card partners in retail, travel, and other industries. These partnerships drive advertising revenue to the company without resulting in unwanted or disruptive ads on the platform. We simply add value to customers in the form of travel deals, gift card bonuses and more. We will expand these partnerships with our planned rewards program to grow customer lifetime value while providing savings to our customers.
Finally, even though our core customer acquisition strategy happens at the wedding planning stage, our expanded capabilities will enable acquisition during any life event at the same low customer acquisition cost of about $1 on average.
OUR LEADERSHIP
A dynamic CEO, 23-member team, and superstar advisers
After a winning appearance on Shark Tank, our CEO and co-founder Sara Margulis was propelled into several media and speaking engagements. Her thought leadership in entrepreneurship, women in business and work/life balance has been shared at SXSW, Aspen Ideas and the Inc. Womens’ Summit. After fully acquiring the company from her co-founder in 2019, Sara overhauled the product with a fresh site design and improved payment methods, doubling customer engagement in just one year.
Sara is supported by a 23-member team. This includes an agile and extensible technology team, a 5-star customer service team, and an 8-person marketing team.
Finally, Sara’s key advisors include Kevin O’Leary of Shark Tank, David Jakubowski, founder of Ureeka and former head of data at Facebook and former GM of search monetization at Microsoft, and Rebecca Messina, senior advisor at McKinsey & Co. and former CMO of Uber and Beam Suntory.
Why Invest
An exponential gifting industry with 7 million established customers
Our vision for Honeyfund: a closed social network for gifting -- where friends and family support each other through all of life’s milestones, mishaps and monumental moments -- gifts that last a lifetime.
This model is better than a one-off “fund me” type campaign because everyone we know and love is already connected to us on our Honeyfund gifting site. When life happens, simply post an update and Honeyfund notifies your support network.
Your investment in Honeyfund will power 1) 6-9 months of feature and app development to expand the popular gifting platform’s capabilities from a wedding focus to the gift occasions beyond, 2) the development of a cash-back rewards system that will keep customers and their friends and family coming back again and again, and 3) marketing to attract customers at all stages of life, as well as re-engage our database of 7 million past couples and givers.
Honeyfund has established itself as a beloved brand in the wedding gifting space because it transformed wedding gifts from “things” to experiences. It has a substantial customer database, a finely-tuned product, and the customer engagement to become the de facto platform for online gift giving for any life event. Don't miss out on this unique opportunity as we expand into a $130 billion market.
In the Press
Vogue
Should You Ask Your Friends to Fund Your Honeymoon?
CNBC
This service has helped nearly 800,000 couples raise over $600 million for their honeymoons
The Atlantic
When the Happy Couple Registers for Cash
The New York Times
When the Happy Couple Registers for Cash
ABC News
Moms turn to crowdfunding to pay for maternity leave
Offering Summary
Company | : | Honeyfund.com, Inc. |
Corporate Address | : | 2519 N McMullen Booth Rd. STE 510-260, Clearwater, FL 33761 |
Offering Minimum | : | $9,999.48 |
Offering Maximum | : | $1,069,999.56 |
Minimum Investment Amount(per investor) | : | $138.00 |
Terms
Offering Type | : | Equity |
Security Name | : | Common Stock |
Minimum Number of Shares Offered | : | 10,869 |
Maximum Number of Shares Offered | : | 1,163,043 |
Price per Share | : | $0.92 |
Pre-Money Valuation | : | $18,968,560.00 |
COVID Relief
This offering is being conducted on an expedited basis due to circumstances relating to COVID-19 and pursuant to the SEC’s temporary regulatory COVID-19 relief set out in Regulation Crowdfunding §227.201(z).
Expedited closing sooner than 21 days
In reliance on Regulation Crowdfunding §227.303(g)(2) A funding portal that is an intermediary in a transaction involving the offer or sale of securities initiated between May 4, 2020, and February 28, 2021, in reliance on section 4(a)(6) of the Securities Act (15 U.S.C. 77d(a)(6)) by an issuer that is conducting an offering on an expedited basis due to circumstances relating to COVID-19 shall not be required to comply with the requirement in paragraph (e)(3)(i) of this section that a funding portal shall not direct transmission of funds earlier than 21 days after the date on which the intermediary makes publicly available on its platform the information required to be provided by the issuer under §§227.201 and 227.203(a).
Voting Rights of Securities Sold in this Offering
Voting Proxy. Each Subscriber shall appoint the Chief Executive Officer of the Company (the “CEO”), or his or her successor, as the Subscriber’s true and lawful proxy and attorney, with the power to act alone and with full power of substitution, to, consistent with this instrument and on behalf of the Subscriber, (i) vote all Securities, (ii) give and receive notices and communications, (iii) execute any instrument or document that the CEO determines is necessary or appropriate in the exercise of its authority under this instrument, and (iv) take all actions necessary or appropriate in the judgment of the CEO for the accomplishment of the foregoing. The proxy and power granted by the Subscriber pursuant to this Section are coupled with an interest. Such proxy and power will be irrevocable. The proxy and power, so long as the Subscriber is an individual, will survive the death, incompetency and disability of the Subscriber and, so long as the Subscriber is an entity, will survive the merger or reorganization of the Subscriber or any other entity holding the Securities. However, the Proxy will terminate upon the closing of a firm-commitment underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933 covering the offer and sale of Common Stock or the effectiveness of a registration statement under the Securities Exchange Act of 1934 covering the Common Stock.
*Maximum Number of Shares Offered subject to adjustment for bonus shares. See Bonus info below.
Company Perks*
Time-Based:
Friends and Family Early Birds
Invest within the first 48 hours and receive 25% bonus shares.
Super Early Bird Bonus
Invest within the first 5 days and receive 15% bonus shares.
Early Bird Bonus
Invest within the first 14 days and receive 10% bonus shares.
Amount-Based:
$500 | Free Honeyfund Elite Account
For couples getting married, get our full Elite suite of design tools, password protection, and more. We’ll upgrade your Honeyfund account free of charge.
$1,000 | 30-min Honeyfund Vacation Consultation & Bonus Shares
Lower tier perks + Receive a 30-minute consultation with a Honeyfund member success expert. They will help you design your perfect vacation (even during Covid-19!) and locate the best available deals to book. They’ll even guide you through designing a Honeyfund page to help fund the trip. Receive 5% in bonus shares.
$2,500 | 60-min Vacation Consultation & Bonus Shares
Lower tier perks + Receive a 60-minute consultation with a Honeyfund member success expert. They will help you design your perfect vacation (even during Covid-19!) and locate the best available deals to book. They’ll even guide you through designing a Honeyfund page to help fund the trip. Receive 5% in bonus shares.
$5,000 | Honeyfund Swag Box & Bonus Shares
Lower tier perks + Receive a box full of Honeyfund goodies: A Honeyfund t-shirt, a Hydro Flask insulated water bottle, and a “popup” style cell phone handle. Receive 10% in bonus shares.
$10,000 | One-hour Zoom Business Coaching with Sara Margulis & Bonus Shares
Lower tier perks + Do you have a business idea that you need help getting off the ground? Spend an hour on Zoom creating a business plan with Honeyfund’s CEO and Shark Tank winner Sara Margulis. Receive 15% in bonus shares.
$25,000 | Two-Hour Zoom Business Coaching with Sara Margulis
Lower tier perks + Do you have a business idea that you need help getting off the ground? Spend two hours on Zoom creating a business plan with Honeyfund’s, CEO, and Shark Tank winner Sara Margulis.
$50,000 | Two-Hour In-person Business Coaching with Sara Margulis
Lower tier perks + Do you have a business idea that you need help getting off the ground? Spend two hours over lunch creating a business plan with Honeyfund’s, CEO, and Shark Tank winner Sara Margulis. Your choice of location: San Francisco, CA, Los Angeles, CA, or Tampa, FL. (Transportation not included.)
*All perks occur when the offering is completed.
The 10% StartEngine Owners' Bonus
Honeyfund.com, Inc. will offer 10% additional bonus shares for all investments that are committed by investors that are eligible for the StartEngine Crowdfunding Inc. OWNer's bonus.
This means eligible StartEngine shareholders will receive a 10% bonus for any shares they purchase in this offering. For example, if you buy 100 shares of common stock at $0.92/ share, you will receive own 110 shares for $92. Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share.
This 10% Bonus is only valid during the investors eligibility period. Investors eligible for this bonus will also have priority if they are on a waitlist to invest and the company surpasses its maximum funding goal. They will have the first opportunity to invest should room in the offering become available if prior investments are cancelled or fail.
Investors will only receive a single bonus, which will be the highest bonus rate they are eligible for.
Irregular Use of Proceeds
The Company will not incur any irregular use of proceeds.
Show More
Most recent fiscal year-end:
Prior fiscal year-end:
Total Assets
$1,023,944.00
USD
$1,364,369.00
USD
Cash And Cash Equivalents
$650,162.00
USD
$729,547.00
USD
Accounts Receivable
$32,024.00
USD
$60,661.00
USD
Short Term Debt
$1,211,922.00
USD
$1,363,353.00
USD
Long Term Debt
$681,200.00
USD
$0.00
USD
Revenues And Sales
$655,307.00
USD
$1,731,069.00
USD
Costs Of Goods Sold
$103,068.00
USD
$212,432.00
USD
Taxes Paid
$0.00
USD
$0.00
USD
Net Income
-$850,468.00
USD
$24,305.00
USD
Risks
A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.
Updates
Campaign closing tomorrow! August 6
about 1 month agoDear followers,
This campaign will close tomorrow, August 6. A warm, virtual hug to those who have joined us on this journey to support couples' life-long milestones as mishaps!
While the campaign is officially oversubscribed, you can still join the waitlist through midnight Pacific time tomorrow, August 6. (Check your waitlist status here.)
Warmly,
Sara
Thank you! Join the waitlist - 2 days left
about 1 month agoDear investors,
A huge THANK YOU, we're officially oversubscribed!
To those of you who haven't yet, you can still join the waitlist through this Friday, August 6. (Check your waitlist status here.)
High-fives all around!
Final days - Honeyfund member success climbs again
about 2 months agoDear investors and followers,
We're in the final days of the raise! While this Start Engine will close to new investments this Friday, August 6, we're on track to sell out before then. Be sure to invest now.
Quick business update: Honeyfund's year-over-year member success rate is now 29.8% higher than July 2019 levels. The entire Honeyfund team has been focused on increasing this metric so it's very satisfying to be making these large gains. Honeyfund's member success rate is an indicator that our couples are receiving gifts to their Honeyfund -- and making their dreams a reality. It also means more giving volume through the platform and more revenue to the company.
Cheers to cash flow!
7 days left to own Honeyfund
about 2 months agoDear followers,
There is just one week left to invest in Honeyfund. The offer closes next Friday, August 6. Will you invest today?
Warmly,
Honeyfund wins diversity award - 10 days left
about 2 months agoDear investors and followers,
I'm honored to share Honeyfund has won a nationally recognized diversity award from Diversity MBA Media. The organization has named Honeyfund's CEO Sara Margulis (that's me!) a Top 100 under 50 Executive and Emerging leader in Corporate America. I'm proud that Honeyfund currently employs about 70% women and actively works to cultivate, celebrate and incorporate diverse employee backgrounds and experiences. What's more, women led companies statistically outperform their male-led counterparts.
Followers: There are just 10 days left before this campaign closes. Invest now.
Warmly,
Just 14 days left to invest in Honeyfund
about 2 months agoFriends,
Time is running out to invest in a company at the forefront of personal gifting and crowdfunding.
Will you invest today?
Warmly,
Notice of Funds Disbursement
about 2 months ago[The following is an automated notice from the StartEngine team].
Hello!
As you might know, Honeyfund has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in Honeyfund be on the lookout for an email that describes more about the disbursement process.
This campaign will continue to accept investments until its indicated closing date.
Thanks for funding the future.
-StartEngine
Just 17 days left to invest in Honeyfund
about 2 months agoDear investors and followers,
Honeyfund was created in 2006 to solve a modern problem: after covering the cost of a wedding, there's just not much left for the couple to take a honeymoon. The idea took off and Honeyfund is still the most popular honeymoon registry today.
Now, with your investment, we're expanding the platform's capabilities so couples can continue to receive support from friends and family throughout life's milestones and mishaps.
Followers: There are just 17 days left to invest! Will you join us today?
Warmly,
Hilton taps Honeyfund to power its global wedding registry solution - 20 days left
2 months agoDear investors and followers,
As promised, Honeyfund has a major partnership announcement to share: Hilton has asked us to power their global wedding registry solution, and we said yes! More details to come with an exciting partnership kick-off early next month.
And don't miss your chance to invest now, there are just 20 days left.
Warmly,
Thank you for $800k! - 21 days left
2 months agoDear investors,
A huge THANK YOU for your partnership -- we've reached more than $800,000 committed. At Honeyfund, we are continually inspired by all the ways friends and family come together to support each other in life. We are grateful that you are part of our family now.
To ensure we close this round at the full $1.07m, will you please invite your network to join the family, too?
https://www.startengine.com/honeyfund
Warmly,
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