Earth Rides
Like Uber but with a fleet of Teslas.
Analytics
Raised: $355,162
Aggregate Commitments $
Platform
Wefunder
Start Date
01/07/2022
Close Date
04/30/2022
Min. Goal
$50,000
Max. Goal
$1,070,000
Min. Investment
$250
Security Type
Convertible Note
Funding Type
RegCF
Series
Seed
Valuation Cap
$50,000,000
Discount Rate
0%
Rolling Commitments $
Status
Active
Reporting Date
01/19/2022
Days Remaining
101
% of Min. Goal
710%
% of Max. Goal
33%
Likelihood of Max
Avg. Daily Raise
$29,597
Momentum
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Location
Nashville, Tennessee
Industry
Transportation, Automotive, Aviation, & Aerospace
Tech Sector
Cleantech
Distribution Model
B2B2C
Margin
Medium
Capital Intensity
Low
Earth Rides, with a valuation of $50 million, is raising funds on Wefunder. The company offers a rideshare facility with a fleet of electric vehicles. It aims to provide access to clean technology to everyone and electric vehicle ownership regardless of socioeconomic status. Earth Rides has the first-mover advantage in the electric rideshare space and reported a 205% increase in revenue in the second quarter of 2021 compared to the previous quarter. Raven Hernandez and Peter Smith founded Earth Rides in 2019. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $1,070,000. The campaign proceeds will be used for app improvements, marketing, vehicles, R&D, and general and administrative expenses.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$88,705 |
$27,294 |
|
COGS |
$44,427 |
$23,582 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$7,109 |
$-48,245 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$93,299 |
$83,910 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$195,706 |
$188,217 |
|
Short-Term Debt |
$1,131 |
$751 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$1,131 |
$751 |
Financials as of: 01/07/2022
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