Dare

Early Stage

Social media app centered around dares anticipating the launch of a new version of its mobile app by year end

Analytics

Raised to Date: Raised: $0

Aggregate Commitments $

Platform

Microventures

Start Date

12/10/2020

Close Date

04/21/2021

Min. Goal

$50,000

Max. Goal

$250,000

Min. Investment

$100

Security Type

Convertible Note

Funding Type

RegCF

Series

Pre-Seed

Valuation Cap

$5,000,000

Discount Rate

20%

Rolling Commitments $

Status
Not Funded
Reporting Date

04/21/2021

Days Remaining
Not Funded
% of Min. Goal

0%

% of Max. Goal

0%

Likelihood of Max
Not Funded
Avg. Daily Raise

$0

Momentum
Not Funded
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Location

Venice, California

Industry

Media, Entertainment & Publishing

Tech Sector

MediaTech

Distribution Model

B2B/B2C

Margin

Medium

Capital Intensity

Low

Business Type

Growth

Dare, with a valuation cap of $5 million, is raising crowdfunding on MicroVentures. It is a social media platform that revolves around the idea of dares. The users get to interact with their friends and strangers, give them dares to complete, and complete dares given to them. Dare has also introduced dynamic AR avatars. Edvard Erken Hoili and Maria Erken Hoili founded Dare in June 2020. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $250,000. The proceeds will be used for general marketing, future wages, research and development, and general working capital. Dare plans to launch the new version of its mobile app in the third quarter of 2020. The previous version of Dare achieved over 12,000 downloads.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$1,800

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-211,307

$0

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$1

$100

Accounts Receivable

$1,800

$0

Total Assets

$1,801

$100

Short-Term Debt

$0

$0

Long-Term Debt

$0

$0

Total Liabilities

$0

$0

Financials as of: 12/10/2020
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Dare 04/21/2021 Microventures $5,000,000 $0 Convertible Note Not Funded RegCF
Dare 12/09/2020 Microventures $5,000,000 $140,186 Convertible Note Funded Test the Waters / RegCF
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Dare on MicroVentures
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Platform: Microventures
Security Type: Convertible Note
Valuation: $5,000,000
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