Orange Pill App: Stack Friends, Stack Equity! \ stacker news ~bitcoin

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Orange Pill App: Stack Friends, Stack Equity!

442 sats \ 19 comments \ @ThunderFunder 11 Jan bitcoin

Orange Pill App (in case anyone doesn't already know) is a Bitcoin exclusive social media platform that connects bitcoiners to events, merchants, and each other. Their mission is to accelerate Bitcoin adoption by facilitating meaningful real-world connections within the Bitcoin community.

They've got a number of app upgrades in the works for this year, including an LN wallet, a ticketing system, and voice/video call functionality.

Orange Pill App is currently raising funds on Thunder Funder.

Every once in a while, a company comes along that has the potential to make a material impact on the speed and direction of bitcoin adoption. We believe that Orange Pill App is one of those companies. The potential power of individuals coming together from across the globe to share ideas, collaborate, and form strong social bonds while uniting under a single unshakable conviction cannot be overstated.

I mean…When you get thousands of passionate Bitcoiners engaging in active communication… who knows what could happen? Viva la résistance!

That’s why we believe supporting companies like Orange Pill App, whether as a user or as an investor, represents more than a financial decision, it signifies the conviction to play an active role in supporting hyperbitcoinization.

The fresh capital from this investment round will fuel three key initiatives:

Accelerate product development of the platform’s Bitcoin wallet and ticketing features.
Expand the team with key hires including a full-time CTO, designer, and community managers.
Fund marketing activities to acquire 50,000 new members over the next 18 months.

Now we'd like to hear from you! What does the SN community think of Orange Pill App?

To any of their current active users: What has your experience been like? What suggestions or improvements have crossed your mind while using the app?

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36 sats \ 11 replies \ @grayruby 11 Jan

10M valuation?

I like the product. I like the design. I like the team but this valuation is extortion.

Company is worth 2M tops.

39 sats \ 10 replies \ @ThunderFunder OP 11 Jan

Yeah? Well, you know, that's just like uh, your opinion, man.

Seriously though, 2M isn't what it used to be, even a few years ago, and the team is very optimistic about their growth potential.

I think OPA is planning another AMA on SN soon - This is a very good question for them!

10 sats \ 9 replies \ @grayruby 11 Jan

I am not a VC and I don't play one on the internet. I am just calling it like I see it. I don't think the company is worth anywhere near this. 7x revenue seems reasonable to me, which is around 2M.

Event ticketing will juice revenue but erode the margins so we will see how that goes. I do wish them well as I said I like the product and team.

60 sats \ 4 replies \ @orangepillapp 11 Jan

Hi Grayruby, Matteo here!

Thank you for your feedback and support—it’s greatly appreciated. For some context, we completed a pre-seed round last year at a $5M valuation, which was oversubscribed. Since then, we’ve more than doubled our metrics across the board, which is why we feel a $10M valuation is justified.

I’m curious, though—why do you believe event ticketing will compress margins?

Thanks again

10 sats \ 3 replies \ @grayruby 11 Jan

I don't know your financial statements and what arrangements you have with conferences/events for ticketing so of course I am speaking in generalities and assuming some things. Happy to be corrected but generally sub revenue for a software product would be a pretty high margin item and fees from event ticketing would be pretty low margin so if the lower margin item becomes a large mix of your sales your blended margin decreases. Revenue grows and potentially bottom line increases but margins compress.

Again, I know nothing of your situation and was basing this off generalities. You might be getting a 50% kick back from events on ticket sales. I have no idea.

Anyways, I wish you guys the best. Not trying to be a hater. If people will give you a 10M valuation then more power to you.

40 sats \ 2 replies \ @orangepillapp 11 Jan

Thanks for your reply—you’ve made some great points.

We don’t currently have any arrangements with conferences. We plan to take a 6.15% commission on every ticket sold via the app, and since payments will be exclusively in Bitcoin and we run our own payment infra, this revenue is essentially all profit.

Perhaps we should make this clearer in our pitch deck!

0 sats \ 1 reply \ @grayruby 11 Jan

6.15% seems pretty reasonable both for you and the buyer. Plus a good way to add to your bitcoin treasury.

40 sats \ 0 replies \ @orangepillapp 11 Jan

we could probably charge close to 10% but we like the number 6.15 😉

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40 sats \ 3 replies \ @ThunderFunder OP 11 Jan

I appreciate your input. Event ticketing is exciting but for some reason I'm more excited about the upcoming LN wallet integration.

It's worth noting that OPA has almost 4 BTC in their treasury reserves, which if you're bullish about the trajectory of the bitcoin price over the next decade, should factor substantially into the valuation calculation.

0 sats \ 2 replies \ @grayruby 11 Jan

I am bullish the Bitcoin price over the next decade but if I think the operating business is worth 2M then I am paying 8M for 4BTC when I can buy 4BTC in the open market for lets say 400k to make it easy.

I do think it is a good point that holding the Bitcoin and growing that treasury does de-risk the valuation a bit because if one believes the company can stack more Bitcoin over the next decade and those Bitcoin could potentially be worth 10M on their own.

I don't think that is the main reason to invest in a company but it is a nice little insurance policy if you are bullish bitcoin.

40 sats \ 1 reply \ @ThunderFunder OP 11 Jan

I don't think that is the main reason to invest in a company

I fully agree... unless that company is MSTR apparently, haha.

Thank you for sharing your thoughts!

0 sats \ 0 replies \ @grayruby 11 Jan

Apparently. Their premium to NAV seems to be coming back down to earth a bit. I don't know what people were thinking. Buying paper proxies of Bitcoin at 3x the actual Bitcoin.

32 sats \ 6 replies \ @siggy47 11 Jan

I have seen people criticize the app for op sec issues. Fostering local contact between bitcoiners can compromise privacy. What do you think.

41 sats \ 0 replies \ @Catcher 11 Jan

Exactly the reason I stopped using it

51 sats \ 1 reply \ @orangepillapp 11 Jan

hey siggy47, thanks for your comment

there's a lot of things we do to mitigate opsec:

no kyc
no ads
only use approx geo (10 miles radius)
no background tracing (we only check approx geo when app is open, once)
fully paywalled, no free trials

we've been around 2 years and have more than 15k members, so far we managed to have 0 "wrench attacks"

we're all bitcoin maxi here and everything we build is with a privacy-first mindset

10 sats \ 0 replies \ @siggy47 11 Jan

Thanks for the information. I admit there have been moments when I feel like I'm nuts using it, but I have also met many local bitcoiners as a result, and it has helped get a bunch of local meetups started.

41 sats \ 2 replies \ @ThunderFunder OP 11 Jan

I think you take a risk anytime you meet anyone and tell them you're a bitcoiner or attempt to orange pill them. Same with going to conferences and meeting people.

Ultimately, It's a personal choice. I would just say that a person can be cautious and responsible without letting fear be the driving factor for their decisions.

Also, you can use a nym on the app, there's no requirement that you provide any real information on your public profile.

31 sats \ 1 reply \ @siggy47 11 Jan

I actually use the app. I was playing devil's advocate a bit.

41 sats \ 0 replies \ @ThunderFunder OP 11 Jan

I suspected, and am nevertheless grateful for the engagement. Thank you for taking the time 🙏🏼