Sircles

Neutral
BETA

The Social Recommendations App Designed To Destroy Yelp!

Analytics

Raised to Date: $1,070,000

Aggregate Commitments $
Platform

Wefunder

Start Date

10/16/2020

Close Date

01/17/2021

Min. Goal

$100,000

Max. Goal

$1,070,000

Min. Investment

$250

Security Type

SAFE

Funding Type

RegCF

Series

Seed

Valuation Cap

$11,000,000

Discount Rate

10%

Weekly Commitments $
Status

Active

Reporting Date

10/21/2020

Days Remaining

84

% of Min. Goal

1,070%

% of Max. Goal

100%

Likelihood of Max
Avg. Daily Raise

$214,000

# of Investors

1,472

Momentum
Location

Sacramento, CA

Industry

Consumer Products, Goods & Services

Tech Sector

CommerceTech

Distribution Model

B2C

Margin

High

Capital Intensity

Low

Business Type

High Growth

Sircles, with a valuation cap of $11 million, is raising funds on Wefunder. It is a social recommendation app that combines Yelp and Facebook, minus the negativity. The unique features and safeguards of the app allow it to stand out, capture a network effect, and reward good behavior. John Worthington, Todd Fiore, Danny Hinkle, and Paul Buendia founded Sircles in 2019 and have raised over $1.1 million since the founding. The current crowdfunding round has a minimum raise of $100,000 and a maximum raise of $1,070,000, and the funds will be used for product development, business development, marketing, and legal and professional expenses. Sircles maxed out its beta-tester program at 3,000, and its 30-day retention was maintained at 80% for eight consecutive months.

Summary Profit and Loss Statement
Most Recent Year Prior Year

Revenue

$0

$0

COGS

$0

$0

Tax

$800

$0

 

 

Net Income

$-543,830

$-25

Summary Balance Sheet
Most Recent Year Prior Year

Cash

$94,997

$85

Accounts Receivable

$0

$0

Total Assets

$159,997

$35,095

Short-Term Debt

$38,198

$0

Long-Term Debt

$100

$0

Total Liabilities

$38,298

$35,000

Ratings

last updated 10/25/2020

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