Backspin Pickleball

Backspin Pickleball

Closed: Feb. 2023

About this raise

Backspin Pickleball is raising funds on Wefunder. It is a pickleball club for active adults where they can socially gather, play, compete, stay fit, and enjoy a home away from home. The offerings of Backspin Pickleball include functional wellness, pickleball courts, medical services, and community gatherings. Backspin Pickleball has a letter of support from the Executive Director of USA Pickleball and aims to enable the national expansion of pickleball. Sean Graham founded Backspin Pickleball in January 2019. The current crowdfunding campaign has a minimum target of $275,000 and a maximum target of $1.24 million. The campaign proceeds will be used for renovation and construction, sales and marketing, fitness equipment, pre-opening payroll, technology, and working capital.

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Investment Overview

Not Funded: $14,475

Deal Terms

Total Commitments

Platform
Wefunder
Start Date
11/03/2022
Close Date
02/24/2023
Min. Goal
$275,000
Max Goal
$1,235,000
Min. Investment

$100

Security Type

Revenue Share

Payment Schedule

Quarterly

SEC Filing Type

RegCF    Open SEC Filing

Return Multiple

1.75X

Rev. Share %

10.00%

Company & Team

Company

Year Founded
2019
Industry
Media, Entertainment & Publishing
Tech Sector
Non-Tech
Distribution Model
B2B/B2C
Margin
Low
Capital Intensity
High
Location
Kennesaw, Georgia
Business Type
Growth
Company Website
Visit Website

Team

Employees
1
Prior Founder Exits?
No
Founder Name
Sean Graham
Title
CEO

Financials

 Revenue
$0
 Monthly Burn
$70
 Runway
0 months

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$0

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-835

$-5,550

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$0

$0

Accounts Receivable

$0

$0

Total Assets

$0

$0

Short-Term Debt

$7,185

$6,350

Long-Term Debt

$0

$0

Total Liabilities

$7,185

$6,350

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$0
VC Backed?
No
Close Date Platform Valuation Total Raised Security Type Status Reg Type
02/24/2023 Wefunder - $14,475 Revenue Share Not Funded RegCF
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Backspin Pickleball on Wefunder 2022
Platform: Wefunder
Security Type: Revenue Share

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Warning: according to the close date for this deal, Backspin Pickleball may no longer be accepting investments.

Backspin Pickleball Deal Report

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