CircleIt
Growth Stage
A healthy alternative to social media.
Overview
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
Early Bird Val. Cap
$42,000,000
Valuation Cap
$52,000,000
Discount
0%
Rolling Commitments ($USD)
Status
Not Funded
Reporting Date
01/13/2023
Days Remaining
Not Funded
% of Min. Goal
Not Funded
% of Max. Goal
Not Funded
Likelihood of Max
Not Funded
Avg. Daily Raise
$0
Momentum
Not Funded
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Year Founded
2018
Industry
Media, Entertainment & Publishing
Tech Sector
MediaTech
Distribution Model
B2C
Margin
High
Capital Intensity
Low
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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