Coda Music

Neutral
BETA

The world's first crowdsourced streaming music service!

Analytics

Raised to Date: $12,750

Aggregate Commitments $
Platform

Wefunder

Start Date

09/28/2020

Close Date

01/13/2021

Min. Goal

$100,000

Max. Goal

$245,000

Min. Investment

$100

Security Type

SAFE

Funding Type

RegCF

Series

Seed

Valuation Cap

$8,000,000

Discount Rate

25%

Weekly Commitments $
Status
Not Funded
Reporting Date

01/13/2021

Days Remaining
Not Funded
% of Min. Goal

13%

% of Max. Goal

5%

Likelihood of Max
Not Funded
Avg. Daily Raise

$119

Momentum
Not Funded
Location

Lake Worth Beach, Florida

Industry

Media, Entertainment & Publishing

Tech Sector

MediaTech

Distribution Model

B2C

Margin

Low

Capital Intensity

Low

Business Type

High Growth

Coda Music, with a valuation cap of $8 million, is raising funds on Wefunder. It is the world’s first crowdsourced streaming music service. The service plays fresh music for the listeners and helps them discover new music by connecting with other music fans with similar music taste. Randy Fusee and Jeffrey Teles founded Coda Music in 2019 and have raised over $710,000 since its inception. The proceeds of the current crowdfunding round, with a minimum goal of $100,000 and a maximum goal of $245,000, will be used for customer acquisition, new development, and ongoing operations. Coda Music saw over 100,000 listeners in the first three months and has added over 40,000 monthly average users since its launch. The company will soon obtain the required licensing and sell its prepaid plans in the market.

Summary Profit and Loss Statement
Most Recent Year Prior Year

Revenue

$0

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-324,967

$0

Summary Balance Sheet
Most Recent Year Prior Year

Cash

$329,354

$0

Accounts Receivable

$0

$0

Total Assets

$384,758

$0

Short-Term Debt

$9,725

$0

Long-Term Debt

$0

$0

Total Liabilities

$9,725

$0

Ratings

last updated 01/05/2021

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