WHAT DID Tilt DO?
Tilt was an innovative startup in the realm of social payments. It revolutionized the way groups and communities collaborated to fund diverse events through its mobile app. Among its primary users were college students, who embraced the app’s functionality to crowdfund events and conveniently settle expenses with their friends. However, Tilt’s ambitions extended beyond individual transactions, as it aimed to transform the traditional finance experience.
One of Tilt’s significant milestones was successfully securing fundraisers for a nonprofit organization, showcasing its capacity to facilitate charitable initiatives. By introducing the concept of social digital cash exchange, Tilt aimed to challenge the prevailing idea that social platforms were primarily limited to sharing photos and videos. The company envisioned a future where people could seamlessly exchange money within their social networks, fostering collaboration and collective financial empowerment.
Tilt’s mission was to transcend the conventional boundaries of social media and create a platform that fostered both social interactions and monetary transactions. Through their innovative mobile app, they provided a convenient and secure environment for users to crowdfund events, settle expenses, and engage in social digital cash exchange. Tilt aspired to redefine the way people interacted and transacted within their social circles, ushering in a new era of collaborative financial experiences.
WHO STARTED Tilt?
WHY DID Tilt GO OUT OF BUSINESS?
Tilt, once valued at an impressive $375 million, experienced a rapid decline in its worth within a short span of under two years.
During Tilt’s peak, employees enjoyed a lavish lifestyle. Their trips and hangouts were filled with extravagant options, generously funded by the millions of dollars flowing in from investors to sustain Tilt’s operations. Unfortunately, the company eventually found itself depleted of capital, unable to sustain its extravagant endeavors.
In a bid to salvage the situation, Tilt sought a potential buyer and found one in Airbnb. Struggling with financial constraints, Tilt was acquired by Airbnb in 2017 for a significantly reduced price of $12 million. This acquisition provided a lifeline for the cash-strapped company, allowing it to continue its operations under new ownership.