Prospinity, which allows college students to share their future incomes, just raised $2 million [Business Insider]
Applovin Corporation - Class A (APP)
Company Research
Source: Business Insider
Prospinity raised $2 million to expand to new universities in a deal led by Slow Ventures. When they were freshmen at Yale, Aarya Agarwal and his roommate, Samvel Antonyan, struck a handshake deal. If either of them ever started a company that went supernova, they would sign away 10% of their income to the other. "We shook hands, and at the moment, it was a bit of a joke," Agarwal said. "But we realized the deal actually made a lot of economic sense. It was a way to multiply by two times our chances of doing something super improbable." Now, their startup, Prospinity, allows college students to enter into similar contracts. Through its platform, smart young people can join "success pools" of other smart young people who put a few percentage points of their annual income into a shared pot. Each year, the pot gets distributed evenly among the group. The idea is that if one of them becomes the next Mark Zuckerberg or Bill Gates, they will all succeed. Just a year old, Prospini
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APP
Earnings
- 11/6/24 - Beat
APP
Sec Filings
- 12/23/24 - Form 4
- 12/12/24 - Form 4
- 12/12/24 - Form 4
- APP's page on the SEC website