CrossNet

Growth Stage

The Fastest Growing Backyard Game in History

Analytics

Raised to Date: Raised: $171,872

Aggregate Commitments $

Platform

Wefunder

Start Date

09/01/2022

Close Date

11/24/2022

Min. Goal

$50,000

Max. Goal

$1,070,000

Min. Investment

$100

Security Type

SAFE

Funding Type

RegCF

Series

Seed

Valuation Cap

$15,000,000

Discount Rate

0%

Rolling Commitments $

Status
Funded
Reporting Date

11/27/2022

Days Remaining
Funded
% of Min. Goal

344%

% of Max. Goal

16%

Likelihood of Max
Funded
Avg. Daily Raise

$2,046

# of Investors

166

Momentum
Funded
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Location

Miami Beach, Florida

Industry

Media, Entertainment & Publishing

Tech Sector

MediaTech

Distribution Model

B2B/B2C

Margin

Medium

Capital Intensity

Low

Business Type

Growth

CrossNet, with a valuation of $15 million, is raising funds on Wefunder. It is a fast-growing backyard game that works as a four-square volleyball game. The game has over 100,000 active players and is played in more than 10,000 schools. CrossNet products are also sold internationally in 47 countries and have generated $24 million in sales. The business has a digital-first approach of connecting and engaging with customers and has achieved a 316% revenue growth since 2019. Gregory Meade, Chris Meade, and Michael Delpapa founded CrossNet in September 2017. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $1.07 million. The campaign proceeds will be used for funding additional inventory in several new SKUs and marketing.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$8,180,488

$9,099,583

COGS

$3,306,100

$3,637,232

Tax

$0

$0

 

 

Net Income

$-1,725,997

$1,718,900

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$131,636

$455,286

Accounts Receivable

$193,022

$299,719

Total Assets

$1,293,301

$2,640,949

Short-Term Debt

$1,609,527

$604,120

Long-Term Debt

$0

$0

Total Liabilities

$1,609,527

$604,120

Financials as of: 09/01/2022
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CrossNet on Wefunder 2022
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Platform: Wefunder
Security Type: SAFE
Valuation: $15,000,000

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