Coda Music
Early Stage
The world's first crowdsourced streaming music service!
Overview
Raised: $12,750
Total Commitments ($USD)
Platform
Wefunder
Start Date
09/28/2020
Close Date
01/13/2021
Min. Goal
$100,000
Max. Goal
$245,000
Min. Investment
$100
Security Type
SAFE
Series
Seed
SEC Filing Type
RegCF
Valuation Cap
$8,000,000
Discount
25%
Rolling Commitments ($USD)
Status
Not Funded
Reporting Date
01/13/2021
Days Remaining
Not Funded
% of Min. Goal
Not Funded
% of Max. Goal
Not Funded
Likelihood of Max
Not Funded
Avg. Daily Raise
$119
Momentum
Not Funded
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Year Founded
2019
Industry
Media, Entertainment & Publishing
Tech Sector
MediaTech
Distribution Model
B2C
Margin
Low
Capital Intensity
Low
Coda Music, with a valuation cap of $8 million, is raising funds on Wefunder. It is the world’s first crowdsourced streaming music service. The service plays fresh music for the listeners and helps them discover new music by connecting with other music fans with similar music taste. Randy Fusee and Jeffrey Teles founded Coda Music in 2019 and have raised over $710,000 since its inception. The proceeds of the current crowdfunding round, with a minimum goal of $100,000 and a maximum goal of $245,000, will be used for customer acquisition, new development, and ongoing operations. Coda Music saw over 100,000 listeners in the first three months and has added over 40,000 monthly average users since its launch. The company will soon obtain the required licensing and sell its prepaid plans in the market.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$0 |
$0 |
|
COGS |
$0 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-324,967 |
$0 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$329,354 |
$0 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$384,758 |
$0 |
|
Short-Term Debt |
$9,725 |
$0 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$9,725 |
$0 |
Financials as of: 09/28/2020
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