QuirkChat

Neutral
BETA

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

Analytics

Raised to Date: $29,286

Aggregate Commitments $
Platform

Wefunder

Start Date

10/12/2020

Close Date

12/02/2020

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

0.2%

Weekly Commitments $
Status

Active

Reporting Date

10/21/2020

Days Remaining

38

% of Min. Goal

59%

% of Max. Goal

12%

Likelihood of Max
Avg. Daily Raise

$3,254

# of Investors

61

Momentum
Location

Concord, NC

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

Ratings

last updated 10/25/2020

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