audiobridge
Early Stage
Next-generation mobile music recording & collaboration platform for everyone
Overview
Raised: $60,180
Total Commitments ($USD)
Platform
Wefunder
Start Date
07/23/2020
Close Date
11/26/2021
Min. Goal
$50,000
Max. Goal
$250,000
Min. Investment
$100
Security Type
SAFE
Series
Seed
SEC Filing Type
RegCF
Valuation Cap
$7,250,000
Discount
18%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
11/29/2021
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$123
# of Investors
75
Momentum
Funded
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Year Founded
2019
Industry
Media, Entertainment & Publishing
Tech Sector
MediaTech
Distribution Model
B2C
Margin
Low
Capital Intensity
Low
audiobridge, with a valuation cap of $7.5 million, is raising crowdfunding on Wefunder. The company is building a simple and powerful audio creation tool where users can record full professional songs and collaborate with anyone. It is a mobile music recording platform for the next generation of music-making. audiobridge was founded by Matt Miller in 2019 and has raised over $570,000 since its inception. The proceeds of the current crowdfunding campaign, with a minimum raise of $50,000 and a maximum raise of $250,000, will be used for technology development, business development, marketing, advertising, and overheads. audiobridge is available for free on iOS and has reported continuous month-over-month growth for the past 18 months.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$619 |
$100 |
|
COGS |
$0 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-358,003 |
$-125,198 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$61,919 |
$27,862 |
|
Accounts Receivable |
$20,000 |
$0 |
|
Total Assets |
$81,919 |
$27,862 |
|
Short-Term Debt |
$14,621 |
$3,060 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$14,621 |
$3,060 |
Financials as of: 07/23/2020
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