Earth Rides

Growth Stage

Like Uber but with a fleet of Teslas.

Analytics

Raised to Date: 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
extremely
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

Business Type

Growth

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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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Earth Rides 04/30/2022 Wefunder $50,000,000 $355,162 Convertible Note Active RegCF
Earth Rides 01/07/2022 Wefunder $40,000,000 $912,236 Convertible Note Funded Test the Waters / RegCF
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Earth Rides on Wefunder 2022
$
Platform: Wefunder
Security Type: Convertible Note
Valuation: $50,000,000
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