The Venture Codex Logo

The Venture Codex

TAP

Al-Salmiya, Block (2), Salem Al-Mubarak St., Avenue (3), Plot (51), Floor (6), Unit, Salmiya, Al Kuwayt, 44006, Kuwait

Overview

Tap is an online payment system that enables its users to accept payments using global debit and credit cards.

Total investments
1
Lead investments
0
Investments · 12mo
0
Active investors
0

Sector focus

  • Credit Cards
  • Debit Cards
  • E-Commerce
  • Internet
  • Payments
Visit website

Investment portfolio

  • WedPics

    Participated · Series A · Mar 2014

    WedPics provides a private, mobile-first photo and video sharing service that connects couples, guests and wedding-related events (rehearsals, receptions, etc.). The app points guests to accommodations, registries and events and emphasizes ease-of-use and viral guest invitations. As of the article, 2.5 million users had downloaded WedPics and 35% of the user base were web-only users. The company was acquiring 25,000–30,000 new brides per month (and saw over 40,000 new brides in January) and was signing up at least 1,000 brides per day, with user acquisition cost under $2 per wedding. WedPics hosted over 6,000 weddings each weekend during the summer season and reported 175,000 guests joining during that period. The company is pursuing growth via advertising (Facebook, Pinterest, experiments on Tumblr), hiring analytics talent, and exploring acquisitions (competitors and printing businesses) to expand revenue streams. WedPics provides iOS, Android and web apps that allow couples, their wedding party and guests to easily share photos and videos around weddings. The company spun out of the team’s earlier event photo-sharing app Deja Mi in early 2011 and is based in Raleigh, N.C. WedPics reports it is closing in on 1 million unique users, has hosted over 200,000 weddings and users have shared more than 8 million photos and videos (up from 120,000 weddings and 5 million photos the prior fall). Users typically join about seven months before their wedding and increasingly share pre-wedding events and planning content. The product roadmap aims to make WedPics feel more like a social network with deeper identification of wedding party members and better sharing back to other social platforms. The company has historically offered the product free while prioritizing user growth, and is now turning attention to monetization and partnerships. WedPics is a platform (iOS, Android, and web) that lets couples and guests document weddings from engagement through the honeymoon by aggregating photos and videos. The product evolved from the team’s earlier collaborative photo-sharing app Deja Mi and shifted focus to weddings shortly after launching last August. The company reports hosting 75,000 weddings to date and sees about 3,000 weddings on its platform each weekend, with over 5 million photos and videos and roughly 200,000 uploads per week; it reports more than 120,000 couples and 600,000 guests using the service. WedPics has begun monetizing via a partnership with Picture.com for hardcover photo books and integration with Kodak’s developer API for photo prints (it recorded 150 print orders in the first weekend without marketing the feature). The team of 13 is based in the Raleigh, N.C. area and plans to expand internationally to the U.K., Australia, and additional markets in Europe and Southeast Asia. The company teases a forthcoming product launch before year-end that it says will make WedPics a “truly social wedding platform.” WedPics offers an Instagram-like, private photo-sharing app focused on weddings and couple albums. The company shifted from a paid $99 album model to a freemium approach, monetizing via account upgrades such as custom printed invite cards, unlimited hosting, and hi-res album downloads. The app has recorded about 5,000 couple sign-ups and reportedly averages more than 300 sign-ups a day across over 40 countries. The business operated out of founder Justin Miller’s home in Raleigh, NC with a 13-person team until a zoning citation forced a move to The Hub co-working space. Community support around the eviction story produced workspace offers and a local angel investment. Financially, the company has attracted outside capital and is pursuing a larger $1.5M round.

Team

No current team members are available.