QuirkChat

How Geeks Make Friends - social video, livestream and channel chat for geeks!

Analytics

Raised to Date: $83,712

Aggregate Commitments $
Platform

Wefunder

Start Date

10/12/2020

Close Date

04/02/2021

Min. Goal

$50,000

Max. Goal

$250,000

Min. Investment

$100

Security Type

SAFE

Funding Type

RegCF

Series

Seed

Valuation Cap

$4,500,000

Discount Rate

20%

Rolling Commitments $
Status
Funded
Reporting Date

04/30/2021

Days Remaining
Funded
% of Min. Goal

167%

% of Max. Goal

33%

Likelihood of Max
Funded
Avg. Daily Raise

$487

# of Investors

225

Momentum
Funded
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Location

Concord, North Carolina

Industry

Media, Entertainment & Publishing

Tech Sector

MediaTech

Distribution Model

B2C

Margin

High

Capital Intensity

Low

Business Type

High Growth

QuirkChat, with a valuation cap of $4.5 million, is raising funds on Wefunder. It is a niche online community of geeks and hobbyists who create and join social videos and networking platforms. QuirkChat has three features: Quips, Podchats, and Squads. Bee Law founded QuirkChat in 2018 and has raised over $300,000 since the founding. The proceeds of the current crowdfunding round, with a minimum raise of $50,000 and a maximum raise of $250,000, will be used for user acquisition, marketing, expanding the development and operations team, content creation, and building partnerships. QuirkChat has more than 25,000 active users in the US, Canada, and Europe. The company has partnerships with HBO and Warner Bros and has generated over $200,000 in revenue since the app’s launch.
Summary Profit and Loss Statement
Most Recent Year Prior Year

Revenue

$118,250

$36,384

COGS

$2,006

$4,131

Tax

$698

$668

 

 

Net Income

$-21,416

$-64

Summary Balance Sheet
Most Recent Year Prior Year

Cash

$31,034

$-13,796

Accounts Receivable

$13,900

$13,900

Total Assets

$47,554

$2,724

Short-Term Debt

$18,293

$2,939

Long-Term Debt

$0

$0

Total Liabilities

$18,293

$2,939

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