CircleIt

CircleIt

Growth Stage

A healthy alternative to social media.

A healthy alternative to social media.

Overview

Raised this Round: Raised: $0

Total Commitments ($USD)

Platform

Wefunder

Start Date

12/19/2022

Close Date

01/13/2023

Min. Goal
$50,000
Max. Goal
$5,000,000
Min. Investment

$100

Security Type

SAFE

Series

Series A

SEC Filing Type

RegCF    Open SEC Filing

Early Bird Val. Cap

$42,000,000

Valuation Cap

$52,000,000

Discount

0%

Year Founded

2018

Industry

Media, Entertainment & Publishing

Tech Sector

MediaTech

Distribution Model

B2C

Margin

High

Capital Intensity

Low

Location

Chicago, Illinois

Business Type

Growth

CircleIt, with a valuation of $52 million, is raising funds on Wefunder. The company has developed a social media application where can chat, build your family tree and send cards to loved ones for free. CircleIt allows you to create and send cards to your loved ones that will magically unlock, days, years or decades from now. Membership has grown 400% YOY and an average rating of 4.7 on App Store & Google Play Art Shaikh founded CircleIt in 2018. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $5,00,000. The campaign proceeds will be used for application and product development, marketing, IP and Trademarks, operations, technology development and infrastructure.

Summary Profit and Loss Statement

FY 2021 FY 2020

Revenue

$0

$41,082

COGS

$0

$782,182

Tax

$-17,500

$0

 

 

Net Income

$-2,472,779

$-451,807

Summary Balance Sheet

FY 2021 FY 2020

Cash

$1,782,530

$40,879

Accounts Receivable

$0

$0

Total Assets

$435,461

$918,283

Short-Term Debt

$349,898

$350,423

Long-Term Debt

$0

$0

Total Liabilities

$349,898

$350,423

Financials as of: 12/19/2022
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CircleIt on Wefunder 2022
Platform: Wefunder
Security Type: SAFE
Valuation: $52,000,000

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

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