E (EkChat)

E (EkChat)

Closed: Apr. 2023

About this raise

E, with a valuation of $20 million, is raising funds on Wefunder. It is a social network with a built-in messaging platform and a universal payments system. The platform has everything one would expect in a social network, including feed, photos, videos, stories, celebrities, and brands, along with a messaging platform EkChat, and a payments system EkPay. E is available in 190 countries on Apple AppStore and Google Play Store. Ali Salamat founded E in April 2019. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $250,000. The campaign proceeds will be used for product development, new user onboarding, marketing, licensing fees for Wallet, hiring, and user acquisition expenses.

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Investment Overview

Not Funded: $25,550

Deal Terms

Total Commitments ($USD)

Platform
Wefunder
Start Date
06/03/2022
Close Date
04/30/2023
Min. Goal
$50,000
Max Goal
$250,000
Min. Investment

$100

Security Type

SAFE

Series

Pre-Seed

SEC Filing Type

RegCF    Open SEC Filing

Early Bird Val. Cap

$18,000,000

Valuation Cap

$20,000,000

Discount

10%

Company & Team

Company

Year Founded
2019
Industry
Media, Entertainment & Publishing
Tech Sector
MediaTech
Distribution Model
B2B/B2C
Margin
Medium
Capital Intensity
Low
Location
Newark, Delaware
Business Type
High Growth
Company Website
Visit Website

Team

Employees
5
Prior Founder Exits?
No
Founder Name
Ali Salamat
Title
CEO

Financials

 Revenue
$0
 Cash on Hand
$11,586

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$0

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$0

$0

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$11,586

$137

Accounts Receivable

$0

$0

Total Assets

$892,322

$826,568

Short-Term Debt

$0

$0

Long-Term Debt

$0

$0

Total Liabilities

$0

$0

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$892,242
VC Backed?
No
Close Date Platform Valuation Total Raised Security Type Status Reg Type
04/30/2023 Wefunder $20,000,000 $25,550 SAFE Not Funded RegCF
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Add to portfolio
E (EkChat) on Wefunder 2022
Platform: Wefunder
Security Type: SAFE
Valuation: $20,000,000

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