Effective Date: March 6th, 2024
Welcome to Crate Platforms! These Terms of Service govern your use of the Crate Platforms website, mobile application, and related services as a merchant (“Merchant,” “you,” or “user”). By accessing or using Crate Platforms as a Merchant, you agree to be bound by these Terms of Service and our Privacy Policy. If you do not agree to these terms, please do not use Crate Platforms.
1. Account Registration
- Eligibility: You must be a legal entity capable of entering into binding contracts to create an account as a Merchant on Crate Platforms.
- Account Information: You agree to provide accurate and complete information when creating an account on Crate Platforms. You are responsible for maintaining the confidentiality of your account credentials and for all activities that occur under your account.
- Business Use: Crate Platforms is for commercial use only. As a Merchant, you agree to use Crate Platforms solely for the purpose of promoting your business and engaging with potential customers.
- Content Usage: You agree to comply with all applicable laws and regulations when using Crate Platforms. You may not upload, post, or share any content that is unlawful, harmful, abusive, defamatory, obscene, or otherwise objectionable.
3. Merchant Onboarding Process
- Criteria Evaluation: Crate Platforms evaluates a set of criteria during the merchant onboarding process, including viable and profitable menu items supported for serving to consumers, and earnings split potential based on estimated monthly foot traffic.
- Menu Upload and Cost Limitation: Merchants upload their menu, ensuring each item costs no more than $1.75 preferred (with automated review) or $2-$3 maximum (with manual review) in bulk preparation costs.
- Weekly Reimbursement: Crate Platforms reimburses restaurants weekly for the actual cost of ingredients consumed by Crate consumers, as labeled above.
- Credit Card Issuance and Usage: Crate Platforms collaborates with Marqueta to issue a credit card to restaurants, allowing them to purchase raw bulk ingredients. Crate pays off the credit card balance weekly, covering only the actual cost of ingredients consumed by Crate consumers.
4. Revenue Share and Ad Revenue Split
- Merchant Ad Revenue Split: Crate Platforms offers individualized, real-time, programmatic earnings splits for merchants, ranging from 10% to 30% of ad revenue. The split percentage depends on the eCPM achieved, with lower programmatic eCPM user RTB ad auctions resulting normally, but can fluctuate entirely at Crate Platform’s discretion between 10%-18% split and higher eCPM goals resulting in much higher, competitive 30% split ratios.
- Profit Calculation: The profit per 150 ads served is calculated based on the difference between the revenue generated and the costs incurred. Crate Platforms aims to provide competitive profit margins for merchants based on ad revenue generated.
5. Compliance and Risk Management
- Regulatory Compliance: Crate Platforms is committed to staying informed about relevant regulations and industry standards and ensuring compliance with them.
- Risk Management: Crate Platforms implements robust risk management strategies to mitigate potential risks associated with maximizing user value to advertisers, market competition, ad revenue fluctuations, operational challenges, and regulatory compliance.
6. Financial Projections and Sustainability
- Revenue Growth: Crate Platforms anticipates steady, non-linear revenue growth tied to user growth and ad inventory sales. The aim is to achieve profitability within the third quarter of operation.
- Sustainability Plan: Crate Platforms envisions scaling its operations by leveraging its ad revenue to fuel the development of innovative solutions in material science and healthcare, contributing to health, sustainability, and longevity.
7. Modification of Services
- Changes to Services: Crate Platforms reserves the right to modify, suspend, or discontinue any aspect of the service at any time, with or without notice.
8. Termination
- Termination: Crate Platforms reserves the right to terminate or suspend your access to the service at any time, with or without cause, and without prior notice.
9. Governing Law
- Jurisdiction: These Terms of Service shall be governed by and construed in accordance with the laws of the United States.
If you have any questions or concerns about these Terms of Service, please contact us through the in-app designated support channel.
By using Crate Platforms as a Merchant, you acknowledge that you have read, understood, and agreed to these Terms of Service and our Privacy Policy.