# Taste (2019)

Closed: Jun. 2019

## About this raise

Taste, with a valuation cap of $3 million, is raising funding on SeedInvest. Taste is an app that uses a predictive algorithm to provide personalized reviews about movies, bands, restaurants, books, etc. from like-minded people. The algorithm matches people with similar tastes through a Match Percentage and only the people with a high match percentage will give recommendations to each other. Taste was founded by John Lin and Justin Messina, and the current round of crowdfunding has a total size of $850,000. Taste has more than 300,000 registered users who generate 4.4 million screen views per month and has 1,700 paid premium subscribers.

## Investment Overview

**Invested this round:**

$472,170 - RegCF  
$757,170 - Total

### Deal Terms

#### Total Commitments

Platform: SeedInvest  
Start Date: 04/17/2019  
Close Date: 06/17/2019  
Min. Goal: $25,000  
Max Goal: $850,000  
Min. Investment: $500  
Security Type: Convertible Note

Company Stage: Early Stage  
SEC Filing Type: RegCF / RegD 506(c)

Valuation Cap: $3,000,000  
Discount: 0%

### Company & Team

#### Company

Year Founded: 2018  
Industry: Consumer Products, Goods & Services  
Tech Sector: AdTech  
Distribution Model: B2C  
Location: New York, New York  
Company Website: [Taste Website](https://www.taste.io/)

#### Team

- Founder Name: John Juan Lin (CEO)  
- Founder Name: Justin Messina (CTO)

## Financials

**Revenue**: $0 as of FY18  
**Monthly Burn**: $10.6K as of FY18  
**Runway**: 0.6 months as of FY18

#### Summary Profit and Loss Statement

|  | FY 2018 | FY 2017 |
| --- | --- | --- |
| Revenue | $11,618 | $0 |
| COGS | $0 | $0 |
| Tax | $0 | $0 |
| Net Income | $-126,612 | $0 |

#### Summary Balance Sheet

|  | FY 2018 | FY 2017 |
| --- | --- | --- |
| Cash | $6,625 | $0 |
| Accounts Receivable | $30,000 | $0 |
| Total Assets | $36,625 | $0 |
| Short-Term Debt | $162,637 | $0 |
| Long-Term Debt | $0 | $0 |
| Total Liabilities | $162,637 | $0 |

## Analyst Report

### Problem

Finding relevant movies, restaurants, or hotels can be cumbersome and overwhelming due to decision overload. Traditional platforms provide similar search results without customizing to individual preferences.

### Solution

Taste utilizes peer-to-peer recommendations based on users' tastes. The app employs predictive algorithms to deliver personalized reviews, helping users save time while finding content aligned with their preferences.

### Traction

The Taste app has seen significant growth since its June 2018 launch, achieving 300,000 users generating 4.4 million screen views monthly. With a mix of advertising and a freemium model, the app maintains a growing premium subscriber base.

### Why We Like it

1. **Product Differentiation**: Taste offers gamification in rating experiences, making the process enjoyable and quick.
2. **Executive Experience**: Founders possess a robust background in AI, advertising, and technology.
3. **Scalability**: The app's infrastructure and user engagement enable potential revenue growth and advertising opportunities across categories.

### Rating

**Taste is a Deal To Watch**. With a unique solution for personalized product recommendations, significant user growth, and multiple strategic exit opportunities, Taste presents an attractive investment option. However, the company must raise additional capital for continued operations.