Introduction. LocalCity US, Inc. (“Company”) is a new hyper-local search and discovery engine. Based in Alpharetta, Georgia, the Company’s Crowdfunding Campaign launches on April 20, 2017.
Problem. Today, average U.S. wage inequality is higher than in any other society, at any time in the past, anywhere in the world. Consider the top 1% captured 95% of U.S. income growth from 2009 to 2012 (with capital gains). U.S. wage disparity will only calcify as tech workforce automation grows.
Indicators. In 2012 data, the top 10% of U.S. earners averaged $254,449 annually. This was just over the S.E.C.’s $250K U.S. income limit set for Americans to invest in private placements, until the JOBS Act of 2012. In 2012, 70% of the top 0.1% earners were corporate execs – reflecting the lack of U.S. tech workforce diversity. Today’s ladder to the middle class is an escalator to poverty, as a Nobel laureate once said “Any decent person should find … extreme poverty coexisting in the same society with extreme wealth immoral.” With faith, we intend to grow the Company and reverse the narrative.
Opportunity. If technology is the main driver for the explosive gap of U.S. income inequality (“IE”), it is logical technology can also close this gap. IE is manifested in racial inequalities. At LocalCity US, we believe data is a double edged sword. Indeed, if U.S. zip code data can predict probable wealth and education achievement outcomes, then we believe zip code data can create tech opportunities (for low to middle income people, students and families), to build new wealth and close U.S. wage inequalities.
Offering. The Company is a GA corporation offering 5,000,000 Shares of its non-voting Common Stock to accredited and non-accredited investors via private placement. The price per share is $1.00, for up to 5% of the Company, under the Invest Georgia Exemption (“IGE”) and Securities Act of 1933 Amended Rule 147, Rule 504 and New Rule 147A. We seek U.S. expansion of www.localcity.us, a hyper-local search platform that helps people find what they want/need from .1-5 miles away.
Launch. On March 1, 2017, the Company began publishing search result listings across 50+ categories in 8 hyper-local markets across North Fulton County (GA). Our launch 8 cities were Alpharetta, Cumming, Dunwoody, Johns Creek, Milton, Mountain Park, Roswell and Sandy Springs, GA. On May 1, 2017, the Company will expand into 14 hyper-local markets in Oakland County (MI). The MI cities are Southfield, Troy, Rochester, Royal Oak, Bloomfield Hills, Novi, Pontiac, Birmingham, Oak Park, Farmington, Berkley, Ferndale, Hazel Park and Lathrup Village.
Mission. Data indicates local U.S. markets are comprised of people who find it hard to locate items in “near me” searches. This is a significant revenue opportunity for us in the 43,000 U.S. zip codes we plan to enter. Hyper-local search enables us to help millions of U.S. people search, compare and save on new products and services closer to their homes, jobs, families and friends.
History. The Company operated as an early stage project in pre-launch stealth-mode from May 2014 to March 2017. We did not generate revenues from hyper-local search services, but we did deliver other digital services - using the proceeds to invest in our platform development. Looking back, the Company reported 2014 expenses of $8,000 for software development. The cash proceeds from 2015 revenue covered $18,000 in added software expenses with $11,000 in office/other costs. In 2016, we spent $4,000 in software development to break even 2014-2017.
Risk. There is a risk the Company will not successfully raise its minimum U.S. target amount of $250,000. Investors should know if we do not achieve our minimum goal, the Company may not have sufficient operating funds to hit financial projections in our private placement terms.
Founder. Mr. Glen Kelly Williams is the Founder and CEO of LocalCity US, Inc. He offers the Company almost three decades of corporate and start-up experience. Along with other startup firms, he previously held senior-level staff, managerial and executive roles at the University of Michigan, The Detroit Medical Center, Verizon, Citi, Ford, EarthLink, Yahoo, Cox and Assurant.
Leadership. The Company’s current team includes 1 CEO, 5 Software Developers, 2 UX Designers, 1 Project Manager, 1 Quality Assurance Manager, 1 Delivery Driver and 1 Editor; Board of Advisors include 1 Professor of Finance, 1 Professor of Management and 1 UX Lead.
Infrastructure. The Company has 25 defined departments functioning interdependently. To drive business process, the Company’s cost centers seed 30 revenue lines to increase valuation.
Services. Since March 2017, we began offering 3 types of service - Core Platform, Value Added and Premium Enhanced. GETLISTED!, THEBAZAAR and NEIGHBORLY launched as new core search, ecommerce and media services trailed by FOODFOLIO, our food order & delivery line.
Diversity. While America’s oldest weekly magazine, “The Nation”, posted a piece titled “The Average Black Family Would Need 228 Years to Build the Wealth of a White Family Today”, U.S. data suggests investments in firms founded or led by under-represented U.S. women and minorities perform better and demonstrate measurable financial performance superior to less diverse companies.
Enactment of the JOBS Act realizes equal opportunity for Americans to invest via U.S. crowdfunding campaigns. Therefore, we target thousands of diverse first-time investors, given data indicates they predominately suffer from the wage inequality the Company wants to resolve. The U.S. has a deep legacy of inequality which undermines the whole spirit of American meritocracy. LocalCity US seeks an even playing field via hyper-local search. We believe investing in the Company can offset inequality – and deliver significant investor ROI.
Inspire. Read Galatians 1:10 to learn why the Company and its Founder are inspired by God.
Contact. Click LocalCity.US “Funding” tab | firstname.lastname@example.org | 770.681.3848
Invest. Step 1. Review the PPM; Step 2. Contact LocalCity US, Inc.; Step 3. Return Completed Application, Signed Stock Purchase Agreement and Funding Payment. Step 4. Receive Shareholder No., Executed Stock Purchase Agreement and Stock Certificate.