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
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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