Dozens App

#145

I respect your view but this part isn’t accurate. Dozens Savings is prefunded by VC money.


Their Terms & Conditions are worth a read, but the layman never really bothers tbf.

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(Adam) #146

That’s just the first issue, presumably it is not the last.

The Seedrs page says the existing funding is a convertible note with an interest rate of 10%.

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#147

Is it the interest rate or the dilutive element that would be an issue? Here’s what AC says on it…

Personally, 10% of $3m dollars per year didn’t strike me as affordable when I first evaluated this and I’m assuming it will be converted as soon as the next raise if not before.

(Adam) #148

By “issue” I meant “bond issue”.

A convertible note is completely normal way of raising early financing, the most famous example perhaps being the note Peter Thiel gave to Facebook. As with that example though, there can be some relatively complex terms included.

On your question about dilution, I’d expect that the valuation and corresponding per share price of the round is calculated on a fully-diluted basis (ie assuming the note converts and any employee stock options are exercised). I know that’s the standard on Crowdcube, not sure about Seedrs tbh.

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#149

They’ll have 7m of issues, and I believe it is all prefunded and announced before the crowdfunding.

Anyway, all their regulatory filings and full details are up at their website, so there’s really no need for you to make accusations and assumptions.

#150

Dozens shared this on their forum

You can now also request the “Pitch Deck” on Seedrs.

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#152

I have heard that if you invest in Dozens they will/might give you an early access code? Can anyone confirm this?

(Simon) #153

I’m sure I saw a post where they said they wouldn’t. However I can’t find it now.

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#154

I found only vague statements on preferred access to bonds and a fancy card but not sure if that includes those codes. I am still places 4600 :frowning:

(Simon) #155

Found it for you.

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#156

Thank you @SimonF I thought so now I got confirmation. Thanks for digging this out.

#157

So what are the interest rates on offer when the £50k marketing budget runs out - i.e. after the first £1m worth of bonds?

(Simon) #158

Not sure if it’s been mentioned in these links but a lot of info regarding them:

#159

Any dozens users here?
I finally got my card after many weeks. Really nicely packaged - so unusual for a bank card that’s normally glued to a piece of paper

(Emma) #160

I’ve had 2 now. They sent me a replacement because I complained that women had a title on it and men didn’t. Apparently an issue with the company that does the ID verification

It’s definitely pretty packaging but a bit wasteful

#161

Do you use it much? I have Monzo and am sceptical it’ll make me change, but going to give it a go for a few weeks to see what it’s like

(Emma) #162

I used it for the free £10 at the start for signing up early and that was it.

Compared to Monzo it’s not In the same league. Wasn’t a fan of the app UI or UX.

#163

Been looking for their 5% bonds but NADA :frowning: Any idea whats going on there ?

#164
1 Like
#166

My main reason was the offer on those bonds— too good to be true … :slight_smile: Thanks for sharing @PoemofXtasy