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SocialCam
02-20-2013, 02:52 PM
Pushtotest - http://Pushtotest.com
https://thefundersclub.com/pushtotest/

Key Info:

PushToTest offers technology that can fully exercise advanced HTML5 apps, including client and server code, under stress and load to 10M simultaneous virtual users. PushToTest has incorporated a former open-source project into a startup.

Pro-forma revenue** of $1,065,000 in 2012 (profitable). Plan is to grow revenue to $4M+ in 2013
Enterprise customers including PepsiCo (Fortune 500), Best Buy (Fortune 500), Deloitte and Rackspace
Open-source product has been downloaded 3M times

Investment terms:

$100k target on FundersClub.
$2.5k minimum investment to guarantee spot in fund. Due to limited spots available, funds will be transfered on a first-to-transfer-funds basis.
Investment is made in a fund which will hold Series A preferred equity at a $5M pre-money valuation, 1x liquidation preference, broad-based weighted average anti-dilution. $785k already raised off-line

Kevin Surace, CEO of PushToTest, is a FundersClub member and has invested in three funds on FundersClub (Coinbase FC Fund I, Sponsorfied FC Fund I, and Soldsie FC Fund I.)

** Reported as "pro forma" due to acquisition of open-source technology which was generating revenues; $817,000 revenues from pre-acquisition, $248,000 revenues in Q4 2012 (since C-corp established.)

DETAILED METRICS

Current:

Revenue**: $1,065,000 (Proforma) in 2012
Gross Profit:$776,406 (Proforma) in 2012
Total Expenses: $695,000 (Proforma) in 2012

Net Income before Taxes: $81,000 (Proforma) in 2012

Enterprise customers including PepsiCo (Fortune 500), Best Buy (Fortune 500), Deloitte and Rackspace
Open-source product has been downloaded 3M times

Plans for future:

Launch WatchX, cloud-based testing software in Q1/2013
Continue running the company at break-even or better
Grow self service customer base by converting open-source users to revenue generating platform

** Reported as "pro forma" due to acquisition of open-source technology which was generating revenues; $817,000 revenues from pre-acquisition, $248,000 revenues in Q4 2012 (since C-corp established.)

MARKET INFO

PushToTest is targeting a $13.1 Billion/ Year Market (Global Software Testing, 2012).

There are currently 555 million websites with about 2.1 Billion internet users worldwide. According to Morgan Stanley forecasts, mobile usage will surpass desktop in 2 years.

The upcoming WatchX uses a pay-as-you-go, cloud-based model which would support customers ranging from small developers to large enterprise accounts. The new UX of WatchX will require no coding or scripting, which enables not just test experts, but also IT, Ops, and brand managers to validate their apps directly.

PLAN FOR USE OF FUNDS

PushToTest plans to use raised funds to expand the team to launch the self-service, cloud-based platform WatchX