Fanbase

Fanbase

Growth Stage

Subscription Social Media

Subscription Social Media

Overview

Raised to Date: Raised: $2,599,944

Total Commitments ($USD)

Platform

StartEngine

Start Date

12/28/2021

Close Date

04/28/2022

Min. Goal
$9,996
Max. Goal
$2,599,996
Min. Investment

$250

Security Type

Equity - Common

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$8.61

Pre-Money Valuation

$50,000,000

Rolling Commitments ($USD)

Status
Funded
Reporting Date

04/30/2022

Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise

$21,487

# of Investors

3,728

Momentum
Funded
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Year Founded

2019

Industry

Consumer Products, Goods & Services

Tech Sector

MediaTech

Distribution Model

B2B2C

Margin

Low

Capital Intensity

Low

Location

Atlanta, Georgia

Business Type

High Growth

Fanbase, with a valuation of $50 million, is raising funds on StartEngine. It is a subscription-based social media network that allows users to monetize their content and earn. The users can either grow organically for free or pay for a subscription to exclusive content. Fanbase is building a new ecosystem and combining the social network and monetization platforms. The business reported a 1,000% user growth in the past year, and the profit increased by 999% in 2021 compared to 2020. Isaac Hayes III founded Fanbase in October 2019. The current crowdfunding campaign has a minimum target of $9,996.21 and a maximum target of $2,599,996.14. The campaign proceeds will be used for growth and expansion.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$13,777

$12,616

COGS

$14,022

$7,300

Tax

$0

$0

 

 

Net Income

$-173,048

$-37,657

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$696,650

$8,238

Accounts Receivable

$0

$0

Total Assets

$696,650

$8,238

Short-Term Debt

$151,368

$0

Long-Term Debt

$0

$0

Total Liabilities

$151,368

$0

Financials as of: 12/28/2021
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Fanbase 11/05/2023 StartEngine $84,926,904 $4,563,175 Equity - Common Funded RegCF
Fanbase 04/28/2022 StartEngine $50,000,000 $2,599,944 Equity - Common Funded RegCF
Fanbase 06/26/2021 StartEngine $20,000,000 $3,495,066 Equity - Common Funded RegCF
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Fanbase on StartEngine 2021
Platform: StartEngine
Security Type: Equity - Common
Valuation: $50,000,000
Price per Share: $8.61

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