BYGMusic

BYGMusic

Early Stage

Connecting advertisers with passionate music fans

Connecting advertisers with passionate music fans

Overview

Raised to Date: Raised: $75,500

Total Commitments ($USD)

Platform

Wefunder

Start Date

09/26/2022

Close Date

03/30/2023

Min. Goal
$50,000
Max. Goal
$107,000
Min. Investment

$100

Security Type

SAFE

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Early Bird Val. Cap

$10,500,000

Valuation Cap

$14,000,000

Discount

0%

Rolling Commitments ($USD)

Status
Funded
Reporting Date

04/01/2023

Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise

$408

# of Investors

16

Momentum
Funded
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Year Founded

2015

Industry

Media, Entertainment & Publishing

Tech Sector

MediaTech

Distribution Model

B2B/B2C

Margin

Medium

Capital Intensity

Low

Location

Manhattan Beach, California

Business Type

Growth

BYGMusic, with a valuation of $14 million, is raising funds on Wefunder. The company has developed a platform that connects emerging artists and future prodigies to sponsors and helps them generate sponsorship revenue. The platform is focused on empowering independent artists to make music the world needs and expanding to provide the tools, systems, and revenue to support artists’ careers. BYGMusic has a fully-developed MVP with an average campaign retention rate of 18%. Krish Sharma founded BYGMusic in April 2015. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $107,000. The campaign proceeds will be used for SaaS platform development, artist operations, sales and marketing, and general and administrative expenses.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$636,749

$725,513

COGS

$406,180

$438,087

Tax

$0

$0

 

 

Net Income

$-270,850

$-127,846

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$50

$303,812

Accounts Receivable

$0

$0

Total Assets

$50

$303,812

Short-Term Debt

$16,000

$39,000

Long-Term Debt

$837,538

$786,450

Total Liabilities

$853,538

$825,450

Financials as of: 09/26/2022
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BYGMusic on Wefunder 2022
Platform: Wefunder
Security Type: SAFE
Valuation: $14,000,000

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