ChangeRoots
Early Stage
The app to create a new class of political donors
Overview
Raised: $0
Total Commitments ($USD)
Platform
Wefunder
Start Date
06/25/2020
Close Date
06/30/2020
Min. Goal
$250,000
Max. Goal
$500,000
Min. Investment
$100
Security Type
SAFE
Series
Series A
SEC Filing Type
RegCF
Valuation Cap
$5,500,000
Discount
0%
Rolling Commitments ($USD)
Status
Not Funded
Reporting Date
06/29/2020
Days Remaining
Not Funded
% of Min. Goal
Not Funded
% of Max. Goal
Not Funded
Likelihood of Max
Not Funded
Avg. Daily Raise
$0
Momentum
Not Funded
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Year Founded
2018
Industry
Media, Entertainment & Publishing
Tech Sector
Fintech
Distribution Model
B2C
Margin
High
Capital Intensity
Low
ChangeRoots, with a valuation cap of $8 million, is raising crowdfunding on Wefunder. The company has created an app to incentivize politicians to rise above and pass legislation that improves overall wellbeing. It is a purpose-driven business with the potential to become profit-driven through user tips, subscriptions, and data. ChangeRoots was founded by Jake Sandler, Christian Cobb, and Sueah Kim in 2018 and has raised over $970,000 since its founding. The proceeds of the current round of crowdfunding, with a minimum goal of $250,000 and a maximum goal of $500,000, will be used for product development, content, operations, and growth. ChangeRoots has already been downloaded by over 3,600 people in just three months and hopes to be a $100 million revenue company soon.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$206 |
$129 |
|
COGS |
$0 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-447,713 |
$-258,537 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$80,204 |
$87,948 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$130,910 |
$113,115 |
|
Short-Term Debt |
$0 |
$0 |
|
Long-Term Debt |
$20,000 |
$0 |
|
Total Liabilities |
$20,000 |
$0 |
Financials as of: 06/25/2020
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